Revolut test: a truly revolutionary online bank?

Revolut test: a truly revolutionary online bank?

Account Features

The Revolut neobank was initially very travel and international oriented. But in eight years the offer has greatly expanded and now offers four different subscriptions – not counting the professional account. The basic offer called Standard is free and gives access to all the services, but does not offer any particular insurance, and the issue of the payment card is invoiced at €5. The first paid offer, Plus, is €2.99 per month and offers purchase insurance. For international trade addicts, the Premium version at €7.99 per month is more interesting with one international payment per month without any fees, no more limits for foreign exchange transactions, numerous insurances and access to lounges airports with a guest. And the most expensive plan, Metal at €13.99 per month, has the highest limits, three free international payments per month, even more insurance and access to airport lounges with three guests, and cash back on the whole.

© Revolut

The particularity of Revolut lies in the way of presenting the services. Thus, the bank does not speak of sub-accounts, but of Vaults by currency or type of action (daily purchases, project, purchase on the stock exchange or cryptocurrencies). In the course of 2022, the Vaults will be joined by Smart Vaults, a first savings offer with interest-bearing accounts where interest will be adjusted every day. Indeed, Revolut does not have, at the time of this writing, any credit or savings offer, but this should change with the introduction of real credit cards and no longer debit payment cards. immediate, and a slight overdraft – which will allow you to pay for your gas at the pump with a Revolut card. It will also depend on the long-awaited migration to a French banking license. At present, Revolut relies on a Lithuanian banking license and therefore offers an IBAN number (the identification code of your bank account) located in this country, which certain French operators refuse by default or which results in a delay for operations.

© Revolut

Similarly, Revolut offers a Junior offer dedicated to 12 to 17 year olds with an application and a dedicated card. It is not a dedicated account, but a sub-account linked to that of the parent. Standard subscribers can have a Junior account; Plus and Premium, two Junior accounts; and Metal, up to 5 Junior accounts. The fintech was also one of the first to offer a cryptocurrency exchange (between themselves and against classic currencies) in December 2017. Since then, its marketplace has become one of the most extensive and counts today today 70 exchangeable cryptocurrencies, in addition to a more classic Stock Exchange offer. And now the neobank is extending its services outside the financial sector. It thus offers the reimbursement of any ticket (concert, train or other) up to €1,000 if you were unable to attend the event. And with its Stays offer, it offers an alternative to AirBNB or Booking directly in the application, in addition to tools dedicated to travel management. In addition, it will soon be possible to book train or plane tickets directly in the application.

Editor's Rating: 5 out of 5


The application is precisely at the heart of the Revolut offer. The neobank does have a website, but it serves above all as a showcase for discovering its various offers and subscribing to one of them. Everything else essentially goes through the smartphone (iOS like Android). The application is obviously used for payment, with mobile payment compatible with Apple Pay, with Google Pay, but also with Fitbit Pay, for SMS transfers between Revolut subscribers and also for storing virtual cards for online payment. .

© Revolut

On this point, Revolut also offers permanent cards (practical for subscribing to a VOD service or online game), but also ephemeral cards with a very limited duration. Of course, the validation of 3D Secure purchases is also done there, by authenticating in the application directly. The application is also used to manage its cards (Visa or Mastercard, at the customer’s choice) with on-the-fly modification of payment and withdrawal limits, activation or blocking of the card. And although Revolut is not affiliated with a particular banking network, it integrates the geolocation of available ATMs.
The management of its finances also goes through the application: from the aggregation of the various accounts to the Stock Exchange and to cryptocurrencies. The company also wants to extend its application beyond finance by taking WeChat as a model. The current example is Stays, which brings together everything for travel in one tab, including booking accommodation. Other services should follow quickly and reinforce a constantly evolving application.

© Revolut

Strong points

  • Advantageous international services.

  • Possibility of making transfers by SMS between Revolut customers.

  • Good integration with different mobile payment systems.

  • Aggregation of accounts.

  • Multiple services (donations, travel arrangements, etc.).

Weak points

  • Fairly limited help.

  • Underdeveloped website.

  • Metal offer quite expensive compared to the Premium offer.

  • No French IBAN.