Popular banking app Revolut lands in the US


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Photo: Revolut

Popular banking app Revolut on Tuesday officially opened its doors to customers in the U.S.

The app has already proven incredibly popular in Europe where it has picked up more than 10 million users, while 60,000 people in the U.S. have been beta testing the service since last June.

Revolut offers a number of neat advantages you don’t get from traditional banks, including the ability to request money from others, notifications for all purchases, and the ability to exchange currencies.

Banking apps that promise modern features, more convenience, and a more affordable service have rapidly taken off in recent years. Revolut is one of many that has carved its name into a competitive market.

Revolut isn’t a bank itself, however. It instead combines its own technology with more traditional banking services. Its partner in the U.S. is New York’s Metropolitan Commercial Bank (MCB).

As well as a beautifully-designed and easy to use app, there are a number of reasons why you might consider opening a Revolut account.

Revolut touches down in the US

Revolut makes it easy to send and request money in much the same way you already do with services like PayPal and Venmo. It also makes it easier to budget and save for the important bills and purchases.

You can round up every purchase you make to the nearest dollar, sending the extra pennies directly to your savings. And with notifications for every spend, there are no nasty surprises.

Revolut won’t charge you for using your card abroad (unless you spend over $5,000 a month), and it gives you the ability to exchange currencies — with competitive rates — right inside the app.

What’s more, your account is insured for up to $250,000 by the Federal Deposit Insurance Corporation.

Get a Revolut card and spend anywhere

Revolut obviously plays nicely with Apple Pay for convenience and security, but you’ll get a Revolut debit card so that you can shop anywhere. You can also use this to withdraw cash if you need it.

You can withdraw up to $300 per month without incurring any fees. A subscription to Revolut’s premium service, priced at $9.99 a month, increases that limit to $600 per month and adds some other benefits.

Premium subscribers also get a disposable, virtual card; global travel insurance; access to airport lounges, and more.

Later, Revolut will bring its Metal subscription to the U.S. for $14.99 a month. This gets you a sleek metal card, increases the withdrawal limit to $900 a month, and offers 1% cashback on card purchases.

Sign up for Revolut today

Signing up for Revolut takes just a few minutes, and the whole process is taken care of on your iPhone. To get started, download Revolut from the App Store today.