Revolut Business Account: Features, Pricing, and Benefits Explained

Revolut Business Account is a dynamic, multi-currency platform designed to meet the financial needs of businesses of all sizes. Whether you’re a startup, a growing enterprise, or a seasoned corporation, Revolut offers a suite of features that cater to diverse business operations. Key functionalities include:

• Local and International Payments: Effortlessly make payments within your country or across borders with competitive exchange rates.
• Foreign Exchange: Access to the interbank exchange rate for over 150 currencies, helping you manage international payments cost-effectively.
• Cryptocurrency Exchange: Buy, hold, and sell cryptocurrencies like Bitcoin and Ether directly from your account.
• Expense Management: Track expenses in real-time and keep your finances organized.
• Automated Bulk Payments: Save time by processing multiple payments simultaneously.
• Team Permissions: Assign different access levels to team members to control who can view, edit, or approve transactions.
• Corporate Cards: Issue multiple physical and virtual cards for different employees, each with customizable spending limits and tracking features.

These features are designed to streamline financial operations, making it easier for businesses to manage their funds, regardless of size or industry.

Eligibility Criteria for Revolut Business Account

Revolut Business is available to a broad range of business types, including Limited Companies, Partnerships, and Sole Traders. To qualify for a Revolut Business account:

• Location: The business must be based in a country where Revolut operates.
• Industry Compliance: Certain industries might be excluded, especially those involved in illegal activities.
• Documentation: Businesses must provide necessary identification and company credentials during the application process.
• Regulatory Adherence: Additional requirements may be imposed depending on local laws, regulations, and the business plan chosen.

The platform is designed to be as inclusive as possible, offering services to local entrepreneurs, ambitious startups, and established enterprises. The application process is straightforward, typically requiring around 10 minutes to complete an online form. After submission, Revolut reviews the application as part of its onboarding process to ensure compliance with its regulations. Once approved, the business account is ready for use, reflecting Revolut's commitment to simplicity and efficiency.

Revolut Business Account Pricing

Revolut offers several pricing plans to accommodate different business needs, whether you are a company or a freelancer.

Company Account Plans

Revolut offers four tailored plans for companies:

1. Free: Ideal for startups looking to manage their finances without a subscription fee. Basic features include essential tools for financial management.
2. Grow (£25/month): Best suited for expanding businesses with increasing transaction volumes. Offers 100 free local transfers and competitive FX rates.
3. Scale (£100/month): Designed for businesses handling high transaction volumes, including 1,000 free local transfers and unlimited international transfers.
4. Enterprise (Custom pricing): A bespoke plan offering personalized solutions and pricing for large corporations with complex needs.

Please note that these rates are subject to change at any time by Revolut, so ensure to check their official pricing page to understand all fees.

Freelancer Account Plans

For freelancers, Revolut provides three plans:

1. Freelancer Free: Offers essential financial tools without a subscription fee.
2. Freelancer Pro (£7/month or £60/year): Adds flexibility with 20 free local transfers and a £5k FX allowance.
3. Freelancer Ultimate (£25/month or £228/year): Provides the most benefits, including 100 free local transfers and a £10k FX allowance, plus a free metal card.

Please note that these rates are subject to change at any time by Revolut, so ensure to check their official pricing page to understand all fees.

Across all plans, payments to other Revolut accounts are unlimited and free. The plans are designed with flexibility in mind, allowing businesses and freelancers to choose a package that best suits their financial management needs.

Revolut Business Account Features

Company Account Features

Revolut Business offers a range of features to streamline financial management for companies:

• Expense Tracking: Monitor and categorize expenses in real-time to stay within budget.
• Automated Bulk Payments: Process multiple payments at once, saving time and reducing administrative overhead.
• Team Member Permissions: Assign roles and control access to financial accounts, ensuring secure management.
• Physical and Virtual Cards: Issue cards to employees with spending limits, making it easier to manage and track transactions.
• Low-Cost Transfers: Send money domestically or internationally at competitive rates, reducing costs associated with cross-border payments.

Freelancer Account Features

Freelancer accounts offer specialized features designed to simplify financial management:

• Invoicing Options: Create and send professional invoices directly from your account, including options for recurring invoices.
• Multi-Currency Account: Manage payments in various currencies without conversion fees, ideal for freelancers working with international clients.
• Expense Management: Track and categorize business expenses, attach receipts, and generate reports to streamline tax deductions and profitability analysis.

Revolut Business Cards (Virtual, Plastic, Metal)

Revolut Business cards are a crucial tool for managing transactions. The platform offers physical and virtual cards, each with features that enhance control, security, and convenience:

• Control and Security: Set spending limits, track transactions in real-time, and freeze/unfreeze cards as needed.
• Virtual Cards: These provide an extra layer of security against online fraud, ideal for managing subscriptions and online payments.
• Metal Cards: Available on paid plans, these cards offer a premium feel and enhanced durability, making a professional impression.
• Foreign Transactions: Benefit from the interbank exchange rate for transactions in 150 currencies, reducing costs for international payments.

Foreign Exchange Capabilities

Revolut’s foreign exchange feature is a significant advantage for businesses dealing with multiple currencies:

• Exchange 25 Currencies: Access compelling exchange rates and perform transactions around the clock.
• Interbank Rate: Benefit from the best available rates when conducting foreign transactions.
• Automated Trades: Use limit and stop orders to automate currency trades, optimizing for favorable market conditions.
• Forward Contracts: Lock in exchange rates for up to 12 months in advance, protecting your business from market volatility.

Multi-Currency Accounts

Revolut Business's multi-currency accounts simplify global financial operations:

• Manage 25 Currencies: Send, receive, and exchange in multiple currencies, with unlimited inbound transfers in GBP, EUR, USD, and CHF.
• Customizable Structure: Categorize accounts by teams, projects, or offices, aligning with your organization’s structure.
• Centralized Reporting: Utilize integrated analytics, audit confirmations, and monthly statements to keep tabs on financial activities.

Revolut Business Tools

Revolut Business provides an array of tools to enhance financial management:

• Analytics: Track spending, monitor cash flow, and analyze financial data to make informed decisions.
• Expenses: Simplify expense tracking and reimbursement, reducing manual paperwork.
• Invoices: Create and manage professional invoices, automate invoicing tasks, and track payments.
• Payroll: Streamline payroll processing, ensuring secure and timely employee payments.
• Rewards: Access exclusive offers and cashback deals, adding value to your Revolut account.

Revolut and Crypto Business Account

Revolut Business has embraced the world of cryptocurrencies with its Crypto Business Account:

• Seamless Integration: Buy, hold, and sell cryptocurrencies like Bitcoin and Ether directly from your business account.
• Flexibility: Convert cryptocurrencies into 25 fiat currencies at any time, with no hidden fees.
• Security: Control who can access and manage crypto transactions, with most funds held offline in cold storage.

Revolut Online Payment Solutions

Revolut Business offers a range of payment solutions to ensure seamless transactions:

• Global Payment Solutions: Accept payments from customers worldwide, expanding your client base.
• Revolut Reader (POS): Accept contactless payments directly through your device, without additional hardware.
• Revolut Pay: Securely receive payments via a link, ideal for remote transactions.
• QR Code Payments: Allow customers to make quick payments by scanning a QR code.
• Payment Links: Send secure payment links to customers for instant payments.
• Payment Gateway: A robust online payment processing method, enabling 24/7 transactions.

Conclusion

Revolut Business provides a comprehensive suite of financial solutions tailored to the needs of businesses and freelancers. With a variety of plans, robust features, and cutting-edge tools, Revolut Business simplifies financial management and empowers businesses to thrive. Whether you're a startup, an expanding enterprise, or a freelancer, Revolut offers flexible and scalable solutions to meet your financial needs.

Currently, Revolut is offering a limited-time incentive: new customers can enjoy a paid plan for one month without subscription fees. This is an excellent opportunity to explore how Revolut Business can enhance your financial management.

Sign up today and experience the future of business finance management with Revolut Business. (T&Cs apply)