Revolut has made a name for itself as a favourite for frequent travellers by offering great currency services. Stick within the “fair usage” limit for your plan and the pricing is hard to beat for popular currencies.
Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
Revolut’s pricing is extremely competitive, but you could be forgiven for getting lost in some of the terms. The cost of your international transfer will depend on the following factors:
Revolut states that it uses the “real” exchange rate for money currency exchanges, Monday–Friday. Outside those hours, forex markets are closed and Revolut uses the latest available exchange rate with a small mark-up on top to cover any fluctuations in its costs.
Transfers to other Revolut users are instant, SEPA transfers typically land within 30 minutes and other international SWIFT transfers can take up to 5 working days. When you get your live quote in the Revolut app, you’ll also be able to see an estimated arrival time.
Revolut is above board. Founded in 2015, it operates in more than 200 countries and has over 18 million users. It’s headquartered in London and regulated in the UK by the Financial Conduct Authority (FCA) with reference 900562.
While its global transfers are generally cheaper than the banks’, because it’s authorised in the UK as an “e-money institution” rather than a bank, FSCS protection does not apply. The Financial Services Compensation Scheme can pay out compensation in the event that a bank goes bust while holding consumers’ money.
Free is hard to beat! But it’s crucial to know the limits of the plan you’re on (Standard, Plus, Premium or Metal) to avoid charges. If you only tend to make 3-figure transfers to countries within the Single Euro Payments Area (SEPA) and you’re happy to do that Monday–Friday, then look no further.
Overall, Revolut international transfers are very competitive and easy. It’s just a shame about all the small-print!
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