9 Key Things to Know Before Opening a Revolut Business Account [2026]

Revolut Business is a capable platform for the right type of company — but there are important limits around who can use it, how pricing actually works in practice, and what happens when something goes wrong.

This guide covers 9 things worth understanding before you open an account, based on Revolut's published terms and live pricing. For a full breakdown of features, fees, and user ratings, see our Revolut Business Account Review.

1. What Is Revolut Business?

Revolut Business is a digital multi-currency corporate account. Revolut holds a banking licence in the UK (granted March 2026; rollout of FSCS deposit protection to business customers is ongoing) and a separate banking licence in the EU. It is available for companies registered in the UK, US, Australia, Switzerland, Singapore, and EEA countries.

Revolut allows businesses to hold funds in 25+ currencies, make local and international transfers, issue corporate cards, and manage team expenses. It includes local account details in major markets and connects to accounting tools like Xero and QuickBooks.

Currently, Revolut does not offer loans, credits, credit cards, overdrafts, cheque facilities, or in-branch services. 

With over 800,000 business customers worldwide, Revolut is one of the more widely used digital business accounts in the UK, Europe, and the US. Its strongest features are its card infrastructure and team expense management tools.

2. Revolut Business Is Mainly Available for UK, EEA, and US 

If your company is registered in Hong Kong, the British Virgin Islands, or most of Asia, you cannot open a Revolut Business account. The main exceptions outside of Europe and the US are Singapore and Australia.

This is the most important eligibility filter. Revolut Business is available to incorporated companies registered with a physical presence in the UK, most European countries, or the United States. The applicant must also reside in a supported country.

For Companies Registered in the UK or EEA

You can apply if you reside in one of the following supported countries:

• The UK, an EEA country or the US
• Australia, India, Singapore
• Supported territories: Gibraltar, Guernsey, Isle of Man, Jersey, Åland Islands, Azores, Madeira, and Mayotte.

For Companies Registered in the US

You can apply if you reside in one of the following supported countries:

• The UK, an EEA country or the US
• Australia, New Zealand, Singapore, India, Israel, Japan, Canada, Mexico
• Supported territories: Aland Islands, Azores, French Guiana, Gibraltar, Guadeloupe, Guernsey, Isle of Man, Jersey, Madeira, Martinique, Mayotte, Reunion and Saint-Martin.

For sole traders and freelancers, you can look at “Revolut Pro” which is a separate product. Revolut Business requires an incorporated company.

3. Not All Business Types and Industries Are Eligible

Revolut Business requires an incorporated company registered in a supported country and operating in an accepted industry. Several common business types are excluded.

Eligible company types: Private Limited Companies, PLCs, LLPs, Limited Partnerships, and Partnerships.  Sole traders are not eligible — they can explore Revolut Pro, designed for freelancers.

Revolut Business does not support public sector entities, charities, private foundations or trusts, and cooperatives.

Commonly excluded industries: adult content, weapons, and gambling operations that lack proper licensing in their jurisdiction. Revolut Business accepts compliant wallet, NFT, and blockchain service businesses, but not exchanges, ramp providers, ICOs, or mining, trading, and investment firms.

Revolut may decline applications even from eligible sectors if compliance checks cannot be resolved. Approval is not guaranteed.

For the full and current list, check Revolut’s Acceptable Use Policy.

4. The Basic Plan Includes Almost No Free International Transfers

Revolut's Basic plan costs £10/month (free in some regions, like Singapore) and includes zero free international transfers — you pay for every single cross-border payment from day one.

This surprises most new users. The Basic plan:

• No free international transfers each month. Every transfer incurs a £5 fee (or SGD 8 in Singapore), excluding any exchange rate charges or additional fees.
• FX at interbank rate only up to £1,000 or SGD 1,500 per month; after that, a 0.6% to 1% fee applies.
• Only 5 to 10 local transfers free each month, after which a £0.20 or SGD 0.20 fee applies

For a business that needs to make regular cross-border payments — paying suppliers, receiving from overseas clients, converting currencies — the Basic plan is less cost-effective for day-to-day use, as you may quickly incur per-transfer fees on international payments.
 
See Revolut's official fees schedule for the latest per-transfer and FX charges.

If cost is your primary concern, see our Wise vs Revolut guide — Wise charges no monthly fee.

5. Monthly Plans Determine Your Real Cost

Revolut Business pricing is built around monthly allowances, not individual transaction charges. Whether the account is expensive or cheap depends entirely on which plan you choose and whether your usage stays within the allowance.

Once you exceed your plan’s allowances, additional fees apply per transfer. Check Revolut's pricing page for current overage charges in your region.

Pricing differs by region — here are the UK and Singapore plans for reference

United Kingdom

Singapore

*1% applies for exchanges made outside market hours (weekends and after hours).

Local transfers follow the same allowance model. Basic plans include 5–10 free local transfers per month; additional transfers cost £0.20 (UK) or SGD 0.20 (Singapore). Grow includes 100 free local transfers per month; Scale includes 1,000.

6. Currency Conversion Costs More Outside Weekday Market Hours

Converting currencies on evenings and weekends costs an additional markup on top of Revolut’s standard FX fee. 

During weekday market hours, Revolut converts at the interbank rate within your plan's monthly allowance. Outside market hours — weekday evenings and weekends — an additional markup applies on top of any standard fee.

For businesses operating across time zones, this additional cost can add up. Check the current FX schedule on Revolut's fees page before assuming the interbank rate applies to all conversions.

7. Customer Support Is In-App Only — No Phone Line for Business Clients

Revolut handles all business support through 24/7 in-app chat. Revolut states that they do not offer a contact number or phone support for most customer service needs, to reduce phone fraud and keep support secure. Getting to a human with decision-making authority can take time.

Revolut does provide a card-blocking line but this is automated and not for general business support. 

For businesses where payment delays have serious operational consequences, this limitation is worth weighing before choosing Revolut as a primary account.

8. Cards Are One of Revolut’s Genuine Strengths — With One Local Limitation

Revolut’s card infrastructure is significantly stronger than most competitors: physical and virtual corporate cards are available for the whole team, with spend controls per card. The limitation for Singapore-based operations is that Revolut cards cannot be used at local ATMs in Singapore.

On all plans, Revolut provides physical and virtual corporate cards with individual spending limits and real-time controls in the app. Higher plans include complimentary metal cards. Cards work in 150+ currencies for in-store and online purchases worldwide.

Revolut cards support ATM withdrawals globally, but Singapore-based businesses can only use them overseas — ATM withdrawals within Singapore are not available.

9. How to Open a Revolut Business Account

The application is 100% online and takes approximately 10 minutes. Revolut typically reviews applications within 24 hours, though more complex ownership structures take longer.

Step 1 — Sign up

Go to Revolut Business or download the Revolut Business app (black icon). Select your country of incorporation and corporate structure.

Step 2 — Create your account

Enter your work email or sign in with Google or Apple. Verify your phone number and create a password. If you have an existing Revolut personal account with the same email, your details pre-fill.

Step 3 — Enter personal details

Full name, date of birth, and residential address.

Step 4 — Submit business documents

If you are not a director or shareholder, include an authorisation letter.

Step 5 — Wait for review

Typically 24 hours, but identity checks may take up to 5 business days. Complex structures or additional document requests extend this timeline. Approval is not guaranteed.

Step 6 — Access your account

Once approved, UK-registered accounts receive GBP account details ( a sort code + account number), EUR account details with IBAN number, and a SWIFT account for international transfers. Other currency accounts receive SWIFT details only for international transfers. (no local account details). 

If Your Business Is in Asia: Statrys Is Built for This

Revolut Business does not serve companies registered in Hong Kong or the BVI. If your business operates in these markets, Statrys is the direct alternative.

Statrys is a licensed Money Service Operator in Hong Kong and Singapore. With Statrys you can hold and manage 11 currencies, send payments across countries, access FX fees from 0.1%, and work with a dedicated account manager by phone, WhatsApp, or WeChat. 96% of clients open their accounts within 3 business days.

For a full comparison of business account options in Hong Kong, see our guide to the best business accounts in Hong Kong. For companies evaluating Revolut against other options, explore our roundup of Revolut Business alternatives.