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Features - 4.3/5

Fees - 3.6/5

Customer Support - 3.5/5

Ease of opening an account - 3/5

Our Rating Methodology

Click "More info" to understand how we calculate our Revolut Business Account ratings.

What is Revolut Business?

Founded in 2015, Revolut is a neobank headquartered in the UK. They offer a range of digital banking services to both individuals and companies, including the ability to receive and send payments in multiple currencies, make foreign exchange transactions, and connect payment systems via API. 

Revolut Business functions as a bank in specific regions, such as the EEA, leveraging Revolut Bank UAB's full banking license in Lithuania. Although it has yet to secure a UK Banking Licence, Revolut Business presently provides e-money services to UK customers, ensuring the secure holding of customer deposits in a third-party licensed bank.

The platform's global reach covers 150+ countries and regions. With over 6,000 employees, they serve over 5 million personal users and more than 500,000 business users.

🔍 Tip: Discover more about the top neobanks for additional options.

Dedicated account managers for the Statrys business account.

Revolut Business Pros and Cons

Pros of Revolut Business Account

Why Revolut Business May Be a Good Option

  • Multi-currency accounts for companies and freelancers 
  • Unlimited inbound transfers in GBP, EUR, USD, and CHF
  • Local accounts for GBP, USD and EUR transactions
  • Support 25+ currencies 
  • Up to 200 virtual cards
  • On-the-go access through the Revolut app

Cons of Revolut Business Account

Why Revolut Business May Not Be a Good Option

  • No physical branches 
  • Chat support is the primary option, with calls restricted to higher-tier customers.
  • ATM withdrawal fees could be substantial

Featured Reviews

Stuart Alexander rated Revolut ⭐⭐⭐⭐⭐

I have been using Revolut on and off for about 5 years now. Used to use it for international transfers before all the big banks cut their fees, I now have revolut business as my main business bank account for my company in Estonia and Italy.

Took 5 minutes to open and verify, I've been trying with competitors for over a month to open a business bank account to no avail. Highly recommend Revolut. Source: Trustpilot Review

Chetan Bhasin rates Revolut ⭐⭐⭐⭐

A very happy customer here. I've been using Revolut for over 5 years now and finally, this year decided to buy their Ultra plan because of insurances and lounges.

I do find the app experience a tad bit overwhelming at times, but the support has been more than nice to me. Usually, they're able to solve all my problems in less than an hour. Source: Trustpilot Review

Revolut Business Account Features 

Multi-currency Business Account for Company

A multi-currency business account is a company account designed for international payments. 

Key features include:

  • Applicable multiple accounts supporting 25+ currencies, each with details for international transactions.
  • Make and receive international payments in GBP, EUR, USD, ZAR, TRY, SAR, SGD, SEK, RON, PLN, NZD, NOK, MXN, JPY, ILS, HUF, HKD, DKK, CZK, CHF, CAD, AUD, BGN, QAR, THB, and AED.
  • Revolut’s business customers in the UK, the USA, Australia, France, Ireland, Lithuania, and Romania can access local account details. (local GBP account numbers and sort codes for UK-based GBP transactions, local USD account numbers and routing numbers for USD transactions in the USA, and local EUR IBAN and BIC codes for EUR transactions in the EEA). With this feature, experience the convenience and cost-effectiveness of receiving international transfers at the same speed as domestic transfers.
  • Enjoy unlimited inbound transfers in GBP, EUR, USD, and CHF from any part of the world.
  • Automated payroll.
  • Organise accounts based on your business structure—segment by team, office, project, and other relevant categories.
  • Tailor privacy settings by granting access based on team members' roles.
  • Access comprehensive reporting tools, including analytics, audit confirmations, and expense tracking.
  • Easily integrate transactions and expenses with accounting software like Xero, QuickBooks, and Sage.
  • Manage business finances on the go with the Revolut Business app. 

Revolut offers tiered business accounts to accommodate businesses of different sizes. You can choose from a free account or three paid accounts:

  • Free plan
  • Grow plan
  • Scale plan
  • Enterprise account

The following table highlights the key differences in features among the plans.

Core Features Free Grow Scale
Free international transfers per month (GBP 5 per payment after exceeding the free allowance) no 5 25
Free local transfers per month (GBP 0.2 per transfer after exceeding the free allowance) 5 100 1,000
Details for SWIFT account transactions yes yes yes
Account information for local GBP transfers yes yes yes
Receive USD and EUR payments as if you were a local

yes yes yes
Recurring payments

yes yes yes
Mass payments

no yes yes
Annual interest earned daily 

no no no
Analytics no yes yes
Invite unlimited team members yes yes yes
Manage access within each team account individually no yes yes
Expense management yes yes yes
Expense and payment approval no yes yes
24/7 customer support (chat with expert) yes yes yes
Account management (request a call) no no no
Connection to company apps and accounting software like Xero, Slack, and QuickBooks yes yes yes
Business API integrations no yes yes
Rewards no yes yes

*There is an additional Enterprise plan, which allows for custom features.

You have the flexibility to change your plan whenever you want. If you decide to switch to a more affordable plan, the change will take effect at your next billing cycle. In case of an upgrade, you can choose to move to the new plan either immediately or at the beginning of the next billing cycle. Check Revolut's FAQ for help with changing your Revolut Business plan.

Please note that the table highlights key differences but not all features. For a complete comparison, visit the Revolut Business Account Plan page.

Revolut Business Card

A Revolut multi-currency business account comes with business payment cards from Visa and Mastercard®. 

All cards are debit cards, you can access virtual and physical cards and enjoy the following benefits.

  • Provide your team with both physical and virtual company debit cards—order easily through the app.
  • Manage expenses by setting limits and tracking transactions; automatic reminders for receipts.
  • Freeze and unfreeze cards.
  • Use company cards globally in 150 currencies at the interbank rate.
  • Obtain a metal card with the company brand on the front for an added professional touch.

You can apply for cards for yourself and your team members. Every team member is allowed up to three physical cards and as many as 200 virtual cards. You or a team member can withdraw cash from any ATM where Mastercard® or Visa are accepted.

All cards support the currencies available in your account. You can connect multiple funding currency accounts to your card.

The card features that accompany the business also vary in detail depending on the specific plan, as outlined below.

Card Features Free Grow Scale
Plastic and virtual cards (Visa and Mastercard®) yes yes yes
Metal cards (Visa and Mastercard®) no 1 Free 2 Free
ATM withdrawals (2% fee applied) yes yes yes
150 currencies supported worldwide without per-payment fees yes yes yes

*Enterprise plan allows users to have custom number of Metal cards

Foreign Exchange

Revolut UK converts all supported types of currency within its accounts. 

They enable business or company account holders to exchange money in over 25 currencies at favourable rates, accessible 24/7 on both web and mobile platforms.

  • Access interbank rates for exchanging, holding, sending, and spending money in more than 25 currencies.
  • In-app alerts notifying you when currencies reach your target prices
  • Trade with limit and stop orders: Determine your desired rates for buying and selling foreign currencies and set up automated future exchanges.
  • Secure fixed exchange rates with forward contracts for combinations in GBP, USD, or EUR. Obtain a steady rate for up to 12 months, or contact their sales team to discuss contract durations beyond this period.

Revolut offers two types of FX forward contracts:

  • Fixed date: pre-agreed date 
  • Flexible dates: drawdown takes place between two specified dates in the future

You can learn more about Revolut's FX forward contracts on the Revolut Forwards Currency Contract page.

Like other aspects, foreign exchange features differ slightly from one plan to another. Details are outlined below.

FX Features Free Grow Scale
Maintain and convert over 25 currencies yes yes yes
Currency conversion at the interbank rate (0.6% fee applied to amounts exceeding the free allowance. 1% fee for exchanges outside regular market hours) GBP 1,000 GBP 10,000 GBP 50,000
Limit and stop orders  no yes yes
Forward currency contracts (0.8% fee applied) yes yes yes

*With the Enterprise plan, clients have a custom allowance for free currency conversion.

Multi-currency Business Account for Freelancer

When opening a Revolut business account for a company, you need to open the account under your registered business name. However, for freelancers, Revolut offers the option of a freelancer business account where you can open a business account under your individual name.

These accounts allow freelancers to accept and spend money in different countries, create invoices, and accept payments on their websites. 

Revolut business for freelancers offers both free and paid accounts. The following table outlines the key distinctions in features across these plans.

  Basic Professional Ultimate
Free international transfers per month (GBP 0.5 per payment after exceeding the free allowance) no no 5
Free local transfers per month (GBP 0.2 per transfer after exceeding the free allowance) 5 20 100
Details for SWIFT account transactions. yes yes yes
Account information for local GBP transfers yes yes yes
Receive USD and EUR payments as if you were a local yes yes yes
Recurring payments yes yes yes
Mass payments no yes yes
Expense management yes yes yes
Expense and payment approval no yes yes
Accept payment through website yes yes yes
Business API no yes yes
Reward yes yes yes
Plastic and virtual cards (Visa and Mastercard®) yes yes yes
Metal cards (Visa and Mastercard®) no 0 Free 1 Free
Currency conversion at the interbank rate (0.6% fee applied to amounts exceeding the free allowance. 1% fee for exchanges outside regular market hours) GBP 0 GBP 5,000 GBP 10,000

Please note that the table emphasises significant distinctions but does not encompass all features. For a comprehensive comparison, kindly refer to the Revolut Business Account Plan page and select ‘For Freelancer’ at the top of the table.

Revolut Pro for Freelancers

Besides business accounts, Revolut provides “Revolut Pro” as one of the features in their personal accounts, specifically designed for freelancers.

To sum up, with any Revolut personal account, you can apply for Revolut Pro, which has the following features.

  • A complimentary account and a Pro debit card, created for individual business ventures and side hustles.
  • Earn cashback
from purchases, from 0.4% up to 1.2%
  • Request professional payments through payment links, QR codes, invoices, or card readers.
  • Accept in-person payments using only your iPhone and Revolut Pro, receiving funds via Apple Pay, cards, or digital wallets.
  • Conduct and receive payments in 36 currencies at favourable exchange rates.
  • Transactions are neatly organised in a dedicated in-app space – combining your sales, accounts, and acquisition functions into one. 

Explore Revolut Pro’s service page for more features for freelancers.

Transfer Limits 

For sending a bank transfer, the limits depend on the destination country and currency. 

There are no transfer limits for most currencies, with the exception of a few specific cases, as outlined below.

Payments
SEPA Instant Credit Transfer EUR 100,000 per incoming payment
Faster Payments Service in the UK GBP 1,000,000 per incoming payment
ACH transfer in the US USD 1,000,000 per incoming payment
GBP Payments to Beneficiaries in the UK
Single payment limit GBP 250,000
Daily limit on the total value of payments GBP 30,000,000
Daily limit on the total number of payments 25,000 payments
Weekly limit on the total value of payments GBP 100,000,000
Weekly limit on the total number of payments 100,000 payments
Freelancer Revolut Business Account
Single payment limit GBP 250,000
Daily limit on the total value of payments GBP 30,000,000
Daily limit on the total number of payments 25,000 payments
Weekly limit on the total value of payments GBP 100,000,000
Weekly limit on the total number of payments 100,000 payments

Any other exceptions will be highlighted in the app before you initiate the money transfer.

Revolut accounts opened in other countries may have different limits. To find specific details on transfer limits, you can consult Revolut’s FAQ on transfer limits or reach out to Revolut directly for further details.

Revolut Features Rating: 4.3/5

Revolut Business Account offers a comprehensive suite of features for both companies and freelancers. Its strengths lie in its extensive multi-currency support, flexible account plans, comprehensive card services, and advanced foreign exchange options. 

Minor limitations include the lack of complete clarity on the differences between account plans and specific fees for certain services. 

However, the overall versatility and scalability of the offerings make it a highly competitive option for businesses operating both domestically and internationally.

Revolut Business Fees

Multi-currency Business Account for Companies

  Free Grow Scale
Monthly fee Free From GBP 19 From GBP 79
International Transfer GBP 5 Free for the first 5 transfers, then GBP 5  Free for the first 25 transfers, then GBP 5 
Local Transfer Free for the first 5 transfers, then GBP 0.20  Free for the first 100 transfers, then GBP 0.20   Free for the first 1,000 transfers, then GBP 0.20  
Transfers to Revolut account Free Free Free
Outbound GBP Faster Payments in the UK and SEPA EUR Free Free Free
Transfers from UK or Switzerland to Poland in PLN  4 PLN 4 PLN 4 PLN
Currency exchange fees Waived for the first GBP 1,000, then 0.6% Waived for the first GBP 10,000, then 0.6% Waived for the first GBP 50,000, then 0.6%
Currency exchange outside market hours 1% 1% 1%
Forward currency contracts 0.8% 0.8% 0.8%
First physical card delivery fees  Free Free Free
Additional physical card delivery fees Standard shipping begins at GBP 4.99 (or equivalent in other currencies), subject to distance variations. The final cost will be shown during checkout.
Metal Cards GBP 49 1 free card, an additional card for GBP 49 each 2 free cards, an additional card for GBP 49 each
ATM withdrawal 2% per withdrawal
Expense management GBP 5 per person per month
Automated payroll GBP 3 per person per month

The Enterprise plan is customised.

Moreover, please note that while Revolut Business doesn't charge extra for transfers within your plan allowance, fees from beneficiary or intermediary banks may be incurred during the transaction. 

Estimated fees for some specific currencies are as follows: 

  • EUR 16-32 
  • USD 20 - 40 
  • AUD 35 
  • CAD 20 
  • AED 50
  • JPY 7,500 
  • NZD 35 

If you downgrade your plan within 3 months of receiving a free Metal card, you'll need to pay GBP 49. After 3 months, you can downgrade and keep Metal cards without fees. Kindly refer to Revolut's FAQ for guidance on changing your Revolut Business plan.

🔎 Note: Inbound local and international transfers in GBP, USD, EUR, and CHF are not counted toward transfer allowances.

Multi-currency Business Account for Freelancers

The multi-currency account for freelancers operates and charges similarly to a business account for a company, with the distinction that it is registered under your individual name. 

It comes with a lower monthly fee and reduced allowances in specific areas, as outlined below.

  Basic Professional Ultimate
Monthly fee Free From GBP 5 From GBP 19
International Transfer GBP 5 GBP 5 Free for the first 5 transfers, then GBP 5 
Local Transfer Free for the first 5 transfers, then GBP 0.20  Free for the first 20 transfers, then GBP 0.20   Free for the first 100 transfers, then GBP 0.20  
Transfer to Revolut account Free Free Free
Currency exchange fees 0.6% Waived for the first GBP 5,000, then 0.6% Waived for the first GBP 10,000, then 0.6%
Currency exchange outside market hours 1% 1% 1%
Metal Cards GBP 49 GBP 49 1 free cards, an additional card for GBP 49 each
ATM withdrawal 2% per withdrawal

Accepting Payments

Both Revolut Business for companies and freelancers incur the following fees for payment acceptance. 

Accepting Payments Online (All plans)
UK consumer cards 1% + GBP 0.20
International and consumer cards 2.8% + GBP 0.20
Revolut Pay and Easy bank transfers 1% + GBP 0.20
Accepting Payments in Person (All plans)
UK consumer cards 0.8% + GBP 0.02
International and commercial cards 2.6% + GBP 0.02

Revolut Pro for Freelancers

Revolut Pro for Freelance is a component of the personal account offering, which provides a selection of plans to choose from.

Plan Monthly Fee
Standard  (0.4% cashback) Free 
Plus (0.4% cashback) GBP 3.99
Premium (0.6% cashback) GBP 7.99
Metal (0.8% cashback) GBP 14.99
Ultra (1.2% cashback) GBP 45

As Revolut Pro is included in the personal accounts, please note that the mentioned monthly fee provides access to additional benefits in the personal account package. 

Personal accounts themselves offer features and everyday benefits like personal savings accounts, travel benefits, insurance, and investment options. 

For a comprehensive overview, refer to the Revolut Personal Account Plans comparison.

When using Revolut Pro to accept payments, there are also associated transfer fees, as detailed below.

Payment Method Transaction Fee
Payment links, QR codes, invoices

2.5%

In-person payment with a card reader

1.5%

Revolut Pricing Rating: 3.6/5

Revolut Business offers a comprehensive and flexible fee structure that can cater to the needs of different business scales and types. The presence of free account options and initial free transfers are particularly beneficial. However, the fees for currency exchanges, additional transfers, and card services, especially for international transactions, can be a concern for businesses with high transaction volumes or those operating with tight margins. The fee structure is transparent, but the cumulative cost could be high depending on the specific usage patterns of the business or freelancer.

Statrys mobile application dashboard showing a total balance in a business account.

Revolut Business Account Requirements

By opening a Revolut business account, you gain access to a variety of financial solutions designed specifically for businesses and freelancers. In this section, let's look at the criteria and fundamental documents needed. 

Eligibility 

To open freelancer or business accounts with Revolut, your business must be one of the following: 

  • Private limited company
  • Public limited company
  • Limited liability partnership
  • Limited partnership
  • Partnership
  • Sole trader
  • Freelancer

The business should be registered and maintain a physical presence in the US., the European Economic Area (EEA), or Switzerland. 

Here is a list of the eligible countries:

  • Aland Islands
  • Australia 
  • Austria
  • Belgium 
  • Bulgaria 
  • Croatia
  • Republic of Cyprus
  • Czech Republic
  • Denmark 
  • Estonia 
  • Finland
  • France
  • Germany 
  • Gibraltar 
  • Guernsey
  • Greece
  • Hungary 
  • Iceland 
  • Ireland
  • Isle of Man
  • Italy
  • Jersey 
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Mayotte
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland 
  • United Kingdom 
  • United States

Incorporated businesses in the EEA or Switzerland have other requirements, including

  • Applicants must reside in Switzerland or the EEA.
  • At least one beneficial owner or director must reside in the EEA or Switzerland.
  • The operating address must be located in the EEA or Switzerland.

In certain cases, Revolut might request documents to prove any of the above.

A Revolut UK Business account is not possible if you are operating the following:

  • Public sector organisation
  • Charity
  • Private foundation or trust
  • Cooperative
  • Other

In addition, you cannot open a Revolut Business account if your business operates in a prohibited industry, like weapons, adult entertainment, cryptocurrency, gambling, auction houses, cannabinoids, investment funds, fine art dealers, pension schemes, second-hand car dealers, quasi-cash merchants, streaming companies, and others.

Required Documents

Applicants will need the following documents:

Additionally, they may ask you to confirm certain business details, and in some cases, provide additional documents.

To find out more about the application process, read our comprehensive guide on how to apply for a Revolut Business account.

🔎 Tip: Revolut offers a 1-month paid plan trial for their business accounts.

Revolut Ease Of Opening an Account Rating: 3.5/5

Revolut offers accounts to various company types with standard eligibility and document requirements. However, the need for physical presence in specific regions, mainly the US, EEA, or Switzerland, could pose challenges for some users. 

Revolut Customer Support 

Their main support channels include the Revolut Help Center, where relevant FAQs about onboarding, features details, cards, spending control and more can be found.

They also offer 24/7 in-app chat with experts.

You can also seek additional assistance by reaching out via email at support@revolut.com.

To block your card, use the automated phone line at +442033228352 (fees may apply). Please note that this number is specifically for card blocking; you cannot connect to a human agent or make outgoing calls.

Additionally, there is a request call feature exclusive to the enterprise plan.

Revolut Customer Support Rating: 3/5

While 24/7 support is a standout benefit, Revolut's customer support is somewhat limited, offering only in-app live chat and email options. Phone support is available only for enterprise users. 

Nevertheless, we have read through some reviews, and many mention that customer support is generally helpful.

Revolut Alternatives

Now that we've covered the overall Revolut business account review, you may be wondering about similar business banking alternatives out there. Let's compare some options.

  Revolut logo Statrys logo Monzo logo
Multi-currency Business Account  yes yes no
Eligible countries  40 countries, physical presence needed Hong Kong, Singapore, and the BVI Only UK registered business
Supported currencies in business account 25+ currencies 11 currencies, including SGD, HKD, USD, RMB, EUR, GBP, AUD, CAD, NZD, JPY, CHF GBP
SWIFT Payment  yes yes no
Payment tracking Cannot find information yes Cannot find information
Account monthly fee From GBP 19 - GBP 79 HKD 88 (with a dedicated account manager)

No average account balance required
GBP 0 - GBP 5
Account opening time 24 hours 3 business days 1 day to 7 days
Cards  Applicable physical and virtual cards Applicable physical and virtual cards Applicable physical and virtual cards
ATM withdrawal yes yes yes
Expense management yes yes yes
FX rates and fees Interbank rates with an exchange fee of 0.6% after exceeding tiered free allowance.  FX rates are based on live mid-market rates and FX fees of as low as 0.1% (depending on exchange volume) Rates and fees will be shown on the app
Trustpilot reviews 4.2/5 based on 146,106 reviews 4.6/5 based on 238 reviews 4.0/5 based on 29,806 reviews
Customer support channel In-app live chat, Email, Request a call (Enterprise plan only) Website, Email, Phone, Live chat, WhatsApp, WeChat Live chat, Phone, Email

💡Tip: We have also conducted a full comparison of the 5 best Revolut alternatives in this article.

Dedicated account managers for the Statrys business account.

FAQs

Is Revolut Business safe?

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Yes. While Revolut is not a registered bank in the UK, it follows the rules set in place by the Financial Conduct Authority. This means it has to meet or exceed minimum standards in order to be able to conduct business in the UK.

Is Revolut a real bank?

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Is Revolut a good business bank?

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What is the difference between Revolut and Revolut Business?

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Disclaimer

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