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 of 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/€10 (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 in 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 which favours 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 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 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 a month Premium Card which offers:
£400/€400 Free ATM withdrawals per month (instead of £200/200€).
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 11.59pm 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.
Another Essential Card To Fly For Free
Now you have free currency exchange, you might want free flights too, and if you don’t already have the below credit cards, they are well worth considering. I use the free American Express Rewards Gold card as my main Amex card. The rewards I earn convert directly to Avios (which can also be used on American Airlines), as well as Delta SkyMiles along with other airline miles. The FREE Amex Gold Card is an incredible deal with a huge free bonus of Membership Rewards. You can apply for the US card right here. For the UK card, you will need to drop me an email for a referral to get extra referral bonus points.
If you are US based, you can also fly to India, Hawaii, Europe or further for free by taking out this alternative, excellent (free) credit card. Read more in our easy guide.
Disclosure: Our property, service and product reviews are sponsored by the proprietor or brand being appraised. All opinions remain our own and are in no way influenced by the sponsor.