PerfectMoney to Revolut
Revolut is a digital bank that started its activity in 2015 as a travel card with a cheap exchange rate and now it has slowly become Revolut Bank. It has the fastest growing digital bank with the widest range of features and is a top choice for those who travel frequently.
Revolut became a bank by receiving a banking license in December 2018. This bank can complete and maintain several currencies. It also offers an expanding set of additional features such as crypto trading and one-time use virtual cards. At the same time, it includes premium subscription options with useful benefits.
On the other hand, when using Revolut Bank, you should keep in mind that the customer’s account can be temporarily blocked for security reasons. It also has a banking license, but it does not have a current account yet, and we must mention that opening an account is free and maintaining your account is also free without monthly fees.
The growing trend of Revolut Bank
Revolut is a great way to avoid hidden fees when paying with your card in foreign currencies or withdrawing cash abroad. It can also be a friendly digital account for financial transactions at home.
Revolut is an innovative banking and currency exchange business that uses an advanced mobile app and several other interesting approaches. They offer checking accounts and a wide range of money transfer and other services to personal and business customers.
Revolut Bank quickly became very popular. Because it offered free international money transfers at competitive rates to more than 140 countries. The bank has reduced its free international exchange limit from €5,000 to €1,000 with an extra charge over the weekend.
In early 2021, they announced that they would merge their cross-border transfers and SWIFT transfers, and Revolut would no longer offer any free international payments for Revolut Standard and Revolut Plus account holders.
Meanwhile, Revolut Premium account holders will receive one free international payment per month and Revolut Metal account holders will be allowed three free international payments per month. Users sending money in a different currency from the receiving country will face one of two different additional fees.
Fees for services
In Revolut Bank, it costs €5.99 in the free program to receive the first physical card. It is included for free in the Premium account. Also, withdrawing money from any ATM is free up to 200 euros per month and the cost after that is 2%. It should be noted that to receive the updated fees of this bank, it is necessary to consult with 20Payment experts. Note that you can use 20Payment to transfer currency through Revolut Bank.
Transferring money from your Revolut account to any other international bank is free with normal transfers and transfers in the same currency are also free. However, using SWIFT costs money. The exchange rate in this bank is always real, which means that there is no difference between the buying and selling prices. This is true both when making an international transfer and when using an ATM to withdraw money.
In addition, currency exchange with Revolut is free up to 1000 euros on weekdays. But weekends cost between 0.5 and 2.0 euros, both on free and paid accounts. Also, when you top up your account using another bank card, Revolut Bank does not charge a fee.
Opening an account in Revolut Bank
Opening an account on Revolut is very easy. It only takes a few minutes to do this over the phone, and you’ll receive your physical card just a few days later. Note that you can get help from 20Payment experts for this.
Also, when it comes to managing currencies, there are differences in the currencies available, the currencies offered in a checking account, the currencies you can keep in the program, and the currencies you can use to top up your account. Of course, current accounts are available in 28 currencies, and there are 35 currencies that you can use to exchange money within the app. You can also top up your Revolut account with 15 currencies.
Open an account from your phone in minutes without a credit check. To get started, just add a $20 deposit and order your free card. You can hold, exchange, send and receive currencies like MXN, CAD and EUR in seconds.
So you can send money all over the world instantly and without hidden fees. Connect with your friends and family instantly to request money or split the bill. Transfer money abroad in over 28 currencies at interbank exchange rates, with a low fee of 0.5% on anything over $1,000 per month.
Revolut cards
Revolut bank cards are available from Mastercard and Visa. You cannot choose your preference, so the items will be random. Although in both premium plans, you can choose a design for your cards in several colors like gray or rose gold, which is not available in the free plan.
Revolut bank features
Although this bank is still not a full-fledged bank, it works similarly or even better than a bank in some aspects. You can categorize your expenses based on the type of transaction. You also have the option to set a monthly budget and expense, both overall and for different expense categories.
You can send money instantly and for free to other Revolut users. You can also send a money request to another user. Smart Savings is also available, where Revolut Bank adds up the amounts you actually spend and stores the difference as savings.
These saves can also be saved separately for easier browsing and management. At the same time, this bank supports direct debts in euros. You can activate Apple Pay and Google Pay in some countries and use 3D Secure online payments.
Revolut Premium account benefits
Revolut has two top tiers. The first one is Premium and it costs 7.99 euros per month. The higher level, called Metal, costs €13.99. An added benefit is that the physical card is a metal card instead of the standard plastic card.
You can buy PerfectMoney with Revolut or sell Perfectmoney vouchers and get Revolut.