Revolut is a free app and contactless VISA card that allows you to spend all over the world (130 countries) with no fees. You can also exchange currencies at the interbank rate, which is the rates banks give each other, and which is a far better rate than ANY bureaux de change. In addition, you can also take up to £200 GBP cash out from any ATM around the world with this free card, per calendar month, with no commissions.
Right now this card is only available to my UK and EU readers, but there are imminent plans to expand the card to North America, the Middle East, Asia, and Australasia, so please feel free to register your interest for the card on our Luxury Travel Concierge page. Submit your name and email address to get yourself at the front of the queue. We will personally email you when the card becomes available beyond the EU.
How Do I Apply?
If you are a UK or EU resident, enter your mobile number here to get your free Revolut card.
Revolut will text you a link. I have an iPhone, so the link opened into iTunes, where I was able to “get” the App. If you don’t have an iPhone, you will be able to download Revolut from Google Play via the link they send you.
You then have to fill out your name etc (takes 30 seconds) and top up £10 GBP/€10 EUR (super easy as you can just place your card in front of your phone camera).
You should also immediately request your free card from within the app (as it won’t arrive automatically). Make sure that you order your free card with standard delivery.
Once you have loaded some cash into your Revolut account, and you have received your card, you can immediately spend and withdraw cash more-or-less anywhere in the world without paying those rip-off fees.
What Does This Mean For Travellers?
Usually, when you pay for a drink, a meal, a hotel night, or in fact anything with your credit or debit card abroad, you will be charged a hefty fee by your credit card supplier or bank, for paying for the item in a foreign currency. The credit or debit card supplier will also choose an exchange rate that favors them and not you.
With Revolut, you don’t pay these fees and your exchange rate will be the real interbank exchange rate.
The Revolut card also enables you to withdraw currency from any ATM much cheaper. You can withdraw up to £200 GBP foreign currency per month with the free Revolut card. Again, with Revolut, you don’t pay any withdrawal fees and your exchange rate will be the real interbank exchange rate.
In Summary, The Free Revolut Card Enables You To:
- Spend abroad with no fees in over 130 currencies with a contactless Visa
- When you spend, you will always receive the real exchange rate (interbank exchange rate), not a rate that benefits your credit card supplier
- Make £200 GBP per month of free international ATM withdrawals (with a 2% fee thereafter)
- Hold and exchange 25 currencies in the app
- Be confident with enhanced security with the ability to enable/disable contactless payments, swipe payments, etc
- Free Euro IBAN account
- Send free domestic and international money transfers
- Buy, hold, exchange, and transfer (internally) Bitcoin, Litecoin, and Ethereum
There is also a £6.99 GBP a month Premium Card which offers:
- £400 GBP/€400 EUR Free ATM withdrawals per month (instead of £200 GBP/€200 EUR)
- Free unlimited FX volumes
- Free exclusive Premium cards (they look snazzier)
- Free overseas medical insurance
- Free global express delivery
- Exclusive priority 24/7 customer support
- Exclusive Premium promotions
- Free disposable virtual cards (useful if you are buying something from a website that you don’t trust)
For either the free or the Premium card, you can hold 25 currencies including pounds, euros, and dollars on the card, and exchange between them instantly, but you can spend in more than 120 currencies. When you spend, the card automatically exchanges from your available balances at the interbank rate for that currency.
Almost every currency is included. The only exceptions are Thai baht, Russian roubles, and Ukrainian hryvnia. With these currencies, Revolut will give you the best rate it can find at the time with a slight markup.
Revolut applies a small mark up on its rates at weekends when the markets are closed. It takes the interbank rate at midnight on Friday and adds between 0.5% and 1% depending on the currency until 11:59 pm on Sunday.
Is It Safe To Load This App With My Money?
Revolut is regulated by the Financial Conduct Authority, meaning that any money you deposit is ring-fenced. If there are problems with Revolut, the money’s safe.
Note: Benefits offered correct at the time of writing but may be amended at discretion of the vendor.
Disclosure: Posts may be sponsored by the proprietor or brand being appraised. All opinions remain our own & are in no way influenced.