First things first. The account for accessing and using the service is very easy and fast. You install the Revolut application, you introduce your name and data, keep in mind that you have to take a picture of an ID, and then make a selfie. Your account is checked (it took 5 min. for me) and that’s all, you have a Revolut account.
You can use your account immediately for internet transactions. This virtual card appears and disappears at the push of a button, which is very convenient. If you also need a physical card, you can order it, and it will come to your address (for a fee or free of charge). All cards are controllable from the application and can be locked or unlocked as needed. At the end of the article, I have detailed the packages and the options you can have.
In the application, you can open by clicking just one button multiple accounts in different currencies. What is very convenient, especially when you want to bring in the same place both euro, dollars, etc.
Our experience with Revolut
We went on the road with a physical card, a virtual card, and three accounts (euro, dollars and lei), so I thought it was safer.
The first time I tried the card in the ATM, we get money, it did not work. I said it was the fault of the ATM that it had no money, so I tried another one with no success. Disappointed we went back to the accommodation, and as soon I connect to the internet, I get a message from Revolut. They report that they have noticed an unusual activity (yes, India is far away from Romania) and so, to protect me, they decided to block the card. I was already panicking, especially as at the classic banks to unlock a card you need to make some long calls (as it costs quite a lot).
But lucky me, they thought about everything and after a minute of looking through the application, I was able to unlock the card. Besides, in order not to repeat the situation, I also enabled Revolut to have access to my location (on the phone) to know where I am and not to block the card anymore. This option is very useful if you want insurance, it will detect the moment when you leave the country and will charge you ~1 euro a day until you come back, deactivating automatically.
So, we finally managed to get some cash and everything was fine.
The big advantage Revolut offers is the exchange rate. This is a real one (interbank), with no other commissions or swings of the course. So you can save enough money, just out of this little detail. I found some ATM’s that offered to convert them the rupees, but it is not advisable, because it offers you a very disadvantageous course.
If you use your account for free (as we do), you can withdraw up to 200 euros free of charge from ATM (or equivalent in your currency). Then you will be charged 2% of the transaction. Quite a little, considering that this would be the only cost for this service.
There are no other fees or commissions other than the withdrawal fee if you exceed € 200 in a month. There are a total of 3 types of accounts that each have the following benefits:
Types of Revolut accounts
STANDARD PREMIUM METAL £ 0/m £ 6.99/m £ 12.99/m Free UK current account Free UK current account Free UK current account Free Euro IBAN account Free Euro IBAN account Free Euro IBAN account Spend in over 150 currencies at the interbank exchange rate Spend in over 150 currencies at the interbank exchange rate Spend in over 150 currencies at the interbank exchange rate No fee exchange in 24 fiat currencies up to £5000/€6,000 per month Unlimited exchange in 24 fiat currencies – no monthly limit Unlimited exchange in 24 fiat currencies – no monthly limit No fee ATM withdrawals up to £200 per month No fee ATM withdrawals up to £400 per month No fee ATM withdrawals up to £600 per month Overseas medical insurance Overseas medical insurance Delayed baggage & delayed flight insurance Delayed baggage & delayed flight insurance Global express delivery Global express delivery Priority customer support Priority customer support Instant access to 5 cryptocurrencies Instant access to 5 cryptocurrencies Premium card with exclusive designs Exclusive concierge service Disposable virtual cards Exclusive Revolut Metal card Disposable virtual cards Up to 0.1% cashback within Europe and up to 1% outside Europe on all card payments
Conclusions about Revolut
We have used Revolut without problems in India, Thailand, Indonesia (Bali), Singapore and Vietnam. I took cash from ATMs, I paid with the physical card to the shops and with the virtual one on the internet. All operations took place without any problems.
The only thing you need to keep in mind is that some ATMs or stores only accept one type of card (MasterCard or Visa). You have to look ahead, so you do not waste time in vain. We in Thailand were forced to walk about 2-3 streets until we found an ATM that also accepts MasterCard.
If you have questions about Revolut, you can write them here and discuss them together.