Revolut is a financial technology (fintech) providing excellent business accounts to companies and freelancers who conduct frequent international business payments. It offers fast and low-cost local and international payments and transfers, including 24/7 foreign exchange services. You can send, receive, hold, and exchange money in over 25 currencies.
There are four business account options for companies: three paid plans and one free option with basic features. Freelancers can also choose from three business accounts, including a free plan. Funds are FDIC-insured through its bank partnership with Community Federal Savings Bank (CFSB) and Sutton Bank.
Features
- Up to three physical and 200 virtual cards; the first plastic card ships free; delivery fees for each additional card apply
- Four different company accounts and three freelancer accounts
- Local accounts opened in USD, EUR, CHF, and GBP
- Create multiple accounts in more than 25 currencies to hold, exchange, and transfer money
- Integration with Xero and QuickBooks
- Business online and mobile banking app
- 24/7 live in-app chat support
- Perks for paid plans include metal cards and better exchange rates
- Cash deposits accepted at Green Dot retail locations
How Revolut Stacks Up With Its Competitors
Cash Deposit Fee | ATM Fee | Free Monthly International Transfers | Number of Countries & Territories to Send Money | Number of Currencies | |
|---|---|---|---|---|---|
 Basic Business Account | N/A ($5 per transfer) | More than 100 | 25+ | ||
Visit Revolut
Provider is a fintech platform backed and FDIC-insured by a supporting bank partnership with Community Federal Savings Bank (CFSB) Bank and Sutton Bank.
| |||||
 Business Checking | Partners with Wise for low-fee international wires | More than 150 | 50 | ||
Visit Novo
Provider is a fintech platform backed and FDIC-insured by a supporting bank partnership with Middlesex Federal Savings.
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 Business Checking | N/A | N/A; 1% fee | More than 200 | 30+ | |
When Revolut Business Account Is a Good Fit
- You want to save on local and international transfers: Revolut business accounts offer fee-free local and international transfers per month. Past the limit for free local transfers, you pay only 20 cents. Beyond the limit for free international transfers, you pay a fee of only $5. In addition, monthly currency exchange allocation is provided without a markup cost. The amount will vary based on your paid plan.
- You seek multiple-currency options: Under Revolut, you can open local accounts in USD, EUR, CHF, and GBP.
- You need scalable business accounts: Revolut offers a full range of business account plans, including a free option with basic features. Companies can select among Revolut’s Basic, Grow, Scale, or Enterprise accounts—which have different monthly fees, features, and perks. Meanwhile, freelancers can choose between a Basic, Pro, or Ultimate business account.
When to Consider Revolut Business Account Alternatives
- You seek to earn interest: None of the Revolut Business accounts earn interest. We recommend Bluevine, which offers a fee-free standard checking account with an APY of 2.0% for qualifying balances up to $250,000. This is one of the reasons it is the top pick in our list of the best bank accounts for self-employed professionals.
- Additional Bluevine account benefits: Bluevine is also among our leading banks for small business loans with its excellent small business line of credit, offering up to $250,000 at a low interest of 7.8%. Learn more about its features through our Bluevine business checking review.
- You want free wire transfers: Revolut charges $10 for inbound and outbound domestic wires. It also collects an international transfer fee of $5, plus additional currency exchange fees past the fee-free monthly limit or during foreign exchanges (FX) done outside market hours. Consider Mercury
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust ®️; Members FDIC. Deposit insurance covers the failure of an insured bank.
, which does not charge fees for receiving and sending domestic and international wire transfers.
- Additional Mercury account benefits: Mercury is one of our best online business banking providers for tech companies, startups, and businesses needing additional FDIC insurance Mercury is a fintech company, not an FDIC-insured bank. Deposits in checking and savings accounts are held by our banking services partners, Choice Financial Group and Evolve Bank & Trust ®; Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through insurance to apply. . It offers free business checking and savings accounts, interest for eligible Mercury Treasury Mercury Treasury, by Mercury Advisory, LLC, an SEC-registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. SEC registration does not mean the SEC has approved of the services of the investment adviser. customers, and a welcome offer for new accounts. Read our Mercury business checking review to discover more fee-free features.
- You prefer ATM fee refunds: Revolut charges 2% of the value of the amount withdrawn from ATMs, unlike Novo, which does not charge ATM fees at all and even refunds third-party ATM operator fees up to $7 per month. This includes both local and international ATM transactions.
- Additional Novo account benefits: Opening a Novo business checking account helps you send and receive business payments faster than other financial providers. You can receive payments from your Stripe account through an integrated Novo Boost feature and use Express ACH for same-day ACH payments. This is why Novo is one of our best bank accounts for sole proprietorships. See our review of Novo business checking for Novo’s product benefits.
Revolut Business Account Overview
Revolut Business Account Requirements
Revolut Business is available for companies and sole traders registered in and with a physical presence within the following countries and territories:
- Aland Islands
- Australia
- Austria
- Azores
- Belgium
- Bulgaria
- Canary Islands
- Croatia
- Cyprus
- Czechia
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Guernsey
- Greece
- Hungary
- Iceland
- Ireland
- Isle of Man
- Italy
- Jersey
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Madeira
- Malta
- Mayotte
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Singapore
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- United Kingdom
- United States
Revolut business account requirements include providing:
- A business operating address
- A description of the nature of your business
- Personal information and identity documents, such as national ID or passport
- Business details, such as registered name, address of registration, trading name, registration date, and incorporation number
- Supporting documents, such as articles of association, certificate of incorporation, and identity documents of directors and beneficial owners
Visit the Revolut website to complete the online application to open a business account. You must be 18 or older.
Revolut Business Account Features
Revolut business account features physical and virtual cards, business mobile app access, analytics and expense management tools, and more.
Physical & Virtual Cards
Revolut provides both physical and virtual cards. It offers complimentary metal cards for paid plans. Under Grow, one free metal card is given, Scale gets two complimentary cards, and Enterprise is custom-provided. Virtual company cards are also available for team members.
Companies can track and control team spending by issuing Revolut company cards. Spending limits can be set, merchant countries restricted, and cards blocked and unfrozen.
Bulk Payments
Users can create and release several payments simultaneously for a specific date. The payment entry limit for a single CSV file is 1,000, and sending a batch payment of not more than 500 at a time is advisable. Bulk payments are automatically sent out in individual separate transfers.
Transfers & Exchanges
Revolut offers fast local and international transfers. You can send international payments in over 25 foreign currencies and spend locally in 150 currencies. You can save from local and global transfers using market-leading rates and track transfer status in real time via the app.
Revolut lets you send, receive, hold, and exchange money in over 25 currencies worldwide. You get unlimited inbound transfers in GBP, EUR, USD, and CHF, which lets you manage your money in your preferred markets easily. When trading foreign currencies, pricing is transparent, and you can get the real rate. You can also set up automatic future exchanges, with in-app alerts informing you when currencies hit your preferred prices.
Analytics, Invoicing & Expense Management Tools
Revolut offers analytics tools to help business owners understand company spending by account, time period, and team members. Business planning is easier since you can forecast using real-time trends and spending analysis.
For business expenses, Revolut has an expense management tool where you can receive spending notifications in real time and approve expenses quickly through automated syncing of receipts and auto-categories. In addition, Revolut allows you to create and send customized invoices to your customers.
Business Mobile App
The Revolut Business mobile app has an excellent 4.9 rating from around 31,400 reviews on the App Store[1], while it has a 4.2 rating based on 24,200 reviews on Google Play[2].
Users liked that the account was easy to set up. They found it suitable for international businesses since transferring currencies is quick. They also mentioned that the app is intuitive, secure, and reliable. Meanwhile, others reported that they encountered password reset difficulties and blocked access to their accounts.
Team Member Permissions
You can control your team’s account access and assign custom roles for your Revolut business account. Designated roles are owner, administrator, accountant, viewer, and member. For personalized permissions, you should use custom roles.
Other Revolut Business Account Products
Freelancer Business Accounts
Basic | Pro | Ultimate | |
|---|---|---|---|
Monthly Fee | $0 | $9.99 | $39.99 |
Fee-free Local & International Monthly Transfers | Local: 5, then 20 cents International: N/A; $5 per payment | Local: 20, then 20 cents International: N/A; $5 per payment | Local: 100, then 20 cents International: 5; $5 per payment |
Currency Exchange Allowance | None, 0.6% markup for FX fees | $5,000, then 0.6% markup for FX fees | $10,000, then 0.6% markup for FX fees |
Free Physical Cards | 3 per team member | ||
Virtual Cards | 200 | ||
Revolut Business Account Reviews From Users
The provider has a 4.1 rating on Trustpilot[3] from around 155,000 reviews. Revolut Business account reviewers stated that banking is seamless and quick. They also praised Revolut’s user-friendly interface and modern layout. Many expressed satisfaction with the app’s efficient currency exchange service and reliable security features. Additionally, users raved about the customer support team’s responsiveness.
However, some complained about the delay in card delivery, while others were dissatisfied with the changes in benefits for the paid account plans. They said that reducing some of the higher-tier account’s benefits made it less valuable for them.
Frequently Asked Questions (FAQs)
Yes, Revolut offers a great business account, especially for businesses that regularly make international payments. You can transact in multiple currencies and save on currency exchange fees. Subscribing to paid account plans gives you a free monthly allowance for international transfers.
One drawback of a Revolut business account is that some features, such as fee-free international transfers and FX allowances without a markup, are only available in paid plans. The monthly subscription fee for Revolut company plans starts at $30.
Reviews of Revolut business accounts will depend on the complexity of your business and the documents submitted. Applying for an account can take 10 minutes, while verification may take 24 hours to a couple of business days to complete.
Yes, funds in your business account are FDIC-insured up to $250,000 through Revolut’s bank partners, Community Federal Savings Bank and Sutton Bank.
Bottom Line
Revolut’s business accounts are feature-packed with free company cards and excellent business tools. They are ideal for companies and freelancers that often engage in international payments. Customers can save from real-time foreign exchange rates and fee-free monthly local and international transfers.
However, Revolut accounts don’t offer interest, and some of the monthly subscription fees can be steep. If you don’t do international transfers often, we recommend opening a free business checking account with a high yield.
User review resources:
