Revolut has rapidly become a go-to option for many who want to send money internationally, thanks to its user-friendly app, competitive exchange rates, and range of convenient features.
Whether sending money to family abroad, making a business payment, or managing currency across borders, Revolut promises a seamless and efficient transfer process.
In this review, we’ll examine Revolut’s money transfer service’s key features, pros and cons, and real user experiences to help you decide if it’s the right choice for your international transactions.
- Revolut Money Transfer Key Features
- Supported Currencies and Destinations
- Competitive Exchange Rate
- Varied Payout Options
- Fast Transfer Speeds
- Real-Time Tracking
- Business Transfer Tools
- Spending Limits and Alerts
- Revolut International Transfer Pricing and Fees
- Revolut Money Transfer Pros and Cons
- Revolut Customer Feedback
- Revolut Security Measures
- Revolut Recent Updates and Recognitions
- Conclusion
- Disclaimer
Revolut Money Transfer Key Features
Revolut’s international money transfer service is packed with features to simplify sending money abroad.
Supported Currencies and Destinations
Revolut enables users to transfer money in over 30 currencies to more than 150 countries. This includes popular currencies such as GBP, EUR, USD, and AUD, ensuring wide-reaching access to international markets.
However, it’s important to note that certain currencies, like Afghan Afghani (AFN) and Belarusian Ruble (BYR), are unsupported.
Competitive Exchange Rate
Revolut uses interbank exchange rates for currency conversions, offering some of the most competitive rates available in the market. These are the same rates banks use when trading currencies with each other, ensuring minimal markups.
During weekdays, users can enjoy these rates without additional fees as long as their transfers stay within the monthly allowance set by their plan. However, on weekends, a small markup of around 1% applies to protect against fluctuations when the markets are closed. This transparency helps personal and business users confidently plan their transfers, knowing they’re getting a fair and consistent rate.
Transfers exceeding the monthly allowance may incur a fair usage fee, but all charges are clearly displayed in the app before completing the transaction, ensuring no surprises.
Varied Payout Options
Revolut offers a range of payout options, including:
- Bank transfers to 160+ countries.
- Card transfer to eligible Visa or Mastercard cards.
- Transfers to other Revolut customers
- Payment link transfers
- Group Bills to split expenses.
They also plan to launch mobile wallet transfers using the recipient’s mobile phone number soon.
Fast Transfer Speeds
Whether sending funds to a family member abroad or managing large-scale business payments, the transfer speed depends on your chosen method, destination and currency.
- Revolut-to-Revolut Transfers: Instant
- SEPA (Within the EU): Typically processed instantly for payments up to €100,000 when using SEPA instant. However, if the recipient’s bank does not support SEPA Instant or the amount exceeds the limit, transfers may take up to 2 business days.
- SWIFT Transfers (International Bank Transfers): The speed depends on intermediary banks and the destination country, but most payments take 2-5 business days.
- Card Transfers: Instant to 30 minutes (rare delays up to 48 hours)
- Payout Links: Recipient decides when to claim (up to 7 days)
Real-Time Tracking
Both personal and business users can monitor the status of their transactions in real-time, which provides transparency and peace of mind.
Business Transfer Tools
Businesses can send bulk payments for up to 1,000 employees or suppliers or use API integrations to automate payments, ideal for payroll and supplier settlements.
You can also set up custom approval workflows, ensuring better oversight and accountability for large or sensitive transfers.
Spending Limits and Alerts
Users can set spending limits and receive alerts to manage their budgets better and avoid unnecessary fees.
Revolut International Transfer Pricing and Fees
Revolut aims to keep pricing simple and transparent so you know exactly what to expect. You’ll always know the cost of your transfer before you hit send.
Pricing varies depending on your plan, but personal and business customers can see their allowances, fees, and limits directly in the app, making it easy to stay in control.
Personal Customer Pricing
| Plan | Standard | Plus | Premium | Metal | Ultra |
|---|---|---|---|---|---|
| Monthly Account Fee | Free | £3.99 | £7.99 | £14.99 | £45 (introductory offer) |
| Fair Usage Exchange Limit | £1,000 per month | £3,000 per month | No limit | No limit | No limit |
| Additional Usage Fee | 1% | 0.5% | Free | Free | Free |
| Weekend Exchange Fee | 1% | 1% | 1% | 1% | 1% |
| International Transfer Fee Discount | 0% | 0% | 20% | 20% | 100% |
| Revolut to Revolut Users | Free | Free | Free | Free | Free |
| Local Transfers | Free | Free | Free | Free | Free |
| SEPA Transfers | Free | Free | Free | Free | Free |
| Card Transfers | Fee calculated in real-time | Fee calculated in real-time | Fee calculated in real-time | Fee calculated in real-time | Fee calculated in real-time |
| Other International Transfers | Fee calculated in real-time | Fee calculated in real-time | Fee calculated in real-time | Fee calculated in real-time | Free |
Business Customer Pricing
| Plan | Basic | Grow | Scale | Enterprise |
|---|---|---|---|---|
| Monthly Account Fee | From £0 | From £19 | From £79 | Custom |
| Monthly Currency Exchange Limit | £1000 per month, then 0.6% after | £10,000 per month, then 0.6% after | £50,000 per month, then 0.6% after | Custom |
| Outside Market Hours Fee | 1% | 1% | 1% | 1% |
| Revolut to Revolut Transfers | Free | Free | Free | Free |
| Local Transfers | 5 free per month, then 20p per additional | 100 free per month, then 20p per additional | 1000 free per month, then 20p per additional | Custom allowance then 20p per additional |
| International Transfers | £5 per transfer | 5 free per month, then £5 per additional | 25 free per month, then £5 per additional | Custom allowance then £5 per additional |
| Card Transfers | Calculated in real-time | Calculated in real-time | Calculated in real-time | Calculated in real-time |
| Guaranteed SWIFT (OUR) | Depends on currency | Depends on currency | Depends on currency | Depends on currency |
| Automated Clearing House (ACH) | 0.2% of the transfer amount charged in GBP or the local currency of the business. Minimum fee of 50p (or equivalent) | 0.2% of the transfer amount charged in GBP or the local currency of the business. Minimum fee of 50p (or equivalent) | 0.2% of the transfer amount charged in GBP or the local currency of the business. Minimum fee of 50p (or equivalent) | 0.2% of the transfer amount charged in GBP or the local currency of the business. Minimum fee of 50p (or equivalent) |
Revolut Money Transfer Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| Free Revolut-to-Revolut transfers | 1% weekend/ out of market hours transfer fee |
| Supports 30+ currencies to 150+ destinations | Monthly limits on free transfers |
| Competitive interbank exchange rates | 1% weekend/out-of-market hours transfer fee |
| Fast transfers | |
| Multiple payout options | |
| Supports bulk payments |
Revolut Customer Feedback
Revolut has earned a solid reputation among users for its efficient and user-friendly money transfer service, and it consistently receives positive feedback.
At the time of writing, It has been rated:
- Trustpilot: 4.3 out of 5, based on 178,046 reviews
- Apple App Store: 4.9 out of 5 based on 820,200 reviews
- Google Play Store: 4.8 out of 5 based on 3.23 million reviews.
Users frequently highlight the platform’s ease of use, particularly for international transactions. They praise the app’s ability to send money quickly at competitive exchange rates and its simplicity.
Despite the positive feedback, some users have expressed frustration with account access issues, such as login issues, app crashes and accounts being locked without clear explanations. A few users have also raised concerns about the exchange rates and additional fees charged for certain transactions.
Revolut Security Measures
Revolut is regulated by the Financial Conduct Authority and takes security seriously, so you can confidently send money knowing your funds are protected at every step.
The platform uses strong encryption to protect your personal details and transaction information. This keeps your data safe from hackers, so you can transfer money without worrying about privacy issues.
When making a transfer, Revolut requires you to authorise payments via biometrics (like your fingerprint or face scan), two-factor authentication (2FA) or a PIN. This adds another layer of security to ensure that only you can authorise your transactions.
The built-in fraud detection and real-time notifications about your transactions help keep you informed. This way, you can immediately spot any unfamiliar activity and take action if needed.
Revolut Recent Updates and Recognitions
Revolut has achieved significant recognition and accolades in the fintech space, particularly for its innovative Money Transfer services, helping to solidify its position as a global leader in digital banking. With over 50 million customers worldwide and 10 million in the UK, Revolut’s rapid growth underscores its impact on the financial landscape.
In 2024, Revolut was awarded a UK banking licence, allowing it to expand its offerings further and operate under enhanced regulatory oversight.
Revolut’s Money Transfer Service was also recognised at the 2024 FS Tech Awards, where it was named Consumer Finance App of the Year. This recognition reflects Revolut’s commitment to providing a seamless, secure, and transparent service for users sending money abroad.
Conclusion
Revolut’s international money transfer service offers competitive exchange rates, fast transfers, and a user-friendly app, making it an attractive choice for personal and business users. With support for 30+ currencies and over 150 destinations, it ensures wide access and efficiency. Using interbank exchange rates and instant payment options enhances its appeal, while multiple payout methods add flexibility.
However, some users have raised concerns about customer support, account access issues, and weekend surcharges. Despite these drawbacks, Revolut remains a leading choice due to its transparent pricing, security measures, and recognition in the fintech space.
Disclaimer
The information provided in this article is for general informational purposes only and does not constitute financial advice. While we strive to ensure accuracy and up-to-date content, it may not reflect your specific circumstances or the latest developments in financial services.
Before making any financial decisions, including selecting a money transfer service, consult a qualified financial adviser for advice tailored to your needs and situation. Revolut and other services mentioned may not be suitable for everyone, and it is essential to consider all relevant factors, such as fees, exchange rates, and applicable regulations, before proceeding.
Use of this information is at your own risk, and we disclaim any liability for decisions made based on the content provided. Always check the terms and conditions with the service provider before using them.
FAQs
Revolut is a popular and efficient option for transferring money, offering competitive exchange rates, fast transfers, and a user-friendly app. It supports over 30 currencies and 150 countries, making it ideal for international transfers. However, some users have raised concerns about account access issues and customer support. It is a good choice for personal and small-scale transfers but may not be suitable for large or time-sensitive transactions due to occasional service limitations.
Yes, transferring money to Revolut is generally safe. The platform uses strong encryption to protect your personal and financial information and requires biometric or two-factor authentication (2FA) for added security. Revolut also has fraud detection measures, providing real-time notifications to inform users of any suspicious activity.
The duration of a Revolut money transfer depends on the method and destination. Revolut-to-Revolut transfers are instant, while SEPA transfers within the EU are typically processed immediately for smaller amounts but may take up to two business days, depending on the amount or recipient’s bank. Depending on the destination and intermediary banks, SWIFT transfers can take 2-5 business days. Card transfers are usually completed within 30 minutes.
Yes, you can send money internationally with Revolut. The platform supports transfers in over 30 currencies to more than 150 countries. Revolut offers competitive exchange rates, and transfers can be made through various methods, including bank transfers, card transfers, and Revolut-to-Revolut transfers.
Yes, you can transfer large amounts of money using Revolut, but the limits vary depending on the destination, currency, and your Revolut plan. For example, single payments within the UK can go up to £250,000, while SEPA Instant transfers have a limit of €100,000. Monthly limits for foreign currency transfers also depend on your plan: the Plus plan allows up to £3,000, while Premium and Metal plans have no monthly limit. However, certain countries have specific limits, so it’s essential to check the app for any exceptions before making a transfer.