Revolut Business Account Review 2024: Fees, Features, and More

Revolut Business Account is a cutting-edge financial management solution designed to simplify and streamline the way businesses handle their finances. Whether you’re a freelancer, startup, or established company, Revolut Business offers a range of features and tools to help you manage your money more efficiently and effectively.

At its core, Revolut Business is a multi-currency business account that enables you to send, receive, and exchange funds in multiple currencies at competitive rates. With a Revolut Business account, you can easily manage your expenses, track your transactions, and make payments across borders without the high fees and complex processes associated with traditional banking.

But Revolut Business is more than just a business account. It’s a comprehensive financial management platform that offers a wide range of features and tools to help you take control of your business finances. From expense tracking and invoicing to team management and API integration, Revolut Business provides everything you need to manage your money and grow your business.

In this in-depth review, we’ll take a closer look at the key features and benefits of Revolut Business Account. We’ll explore the different account plans and pricing options, as well as the various tools and integrations available to help you streamline your financial operations. We’ll also examine the security and compliance measures in place to protect your funds and data, and hear from real users about their experiences with the platform.

Whether you’re looking to simplify your business finances, reduce your costs, or expand your operations internationally, Revolut Business Account is a powerful solution worth considering. So let’s dive in and discover how Revolut Business can help you take your business to the next level.

Revolut Business Account Eligibility and Account Setup

Revolut Business supports various business types, including limited companies, partnerships, and sole traders. The business must operate in a country where Revolut Business is available and follow their terms and conditions. Some industries may not be eligible.

The account setup process is straightforward. Fill out a short online application, which takes about 10 minutes. Revolut then reviews the application as part of their business onboarding process. Once approved, the account is ready to use. The process is simple and efficient.

Revolut Business Account Plans and Pricing

Revolut Business offers several plans to fit different business needs:

Company Accounts:

• Free: For startups looking to streamline finances
• Grow (£19/month): For growing businesses that need scalable tools
• Scale (£79/month): For larger businesses with complex financial needs
• Enterprise: Custom solutions for large corporations

Freelancer Accounts:

• Free: To separate personal and business finances at no cost
• Professional (£5/month): Enhanced features for easier financial management
• Ultimate (£19/month): Top-tier features for high-demand freelancers

The plans include a range of features and limits on transactions, team members, and optional add-ons like expense tracking and payroll.

Revolut Business Freelancer Free Account

Feature	Limit/Allowance	Cost
Subscription Fee	N/A	£0 per month
Payments to Revolut Accounts	Unlimited	Free
Team Members	Unlimited	Free
Local Transfers	5 per month (excluding incoming transfers in USD, GBP, EUR, and CHF)	£0.2 per additional transfer
Guaranteed SWIFT (OUR) Transfers	None	Fee Applies
International Transfers	0 per month (excludes incoming transfers in USD, GBP, EUR, and CHF)	£5 per additional transfer, £8 per transfer to a USA local account outside your home country
Free FX Allowance	£0 per month	0.6% fee where you exceed your free FX allowance
Plastic Card	1 per account holder	Standard Delivery: £4.99; Express Delivery: Variable
Metal Card	Not Included	N/A
ATM Fees	N/A	2% on all withdrawals
Expenses App	£5 per active team member
Payroll App	£3 per active team member
Physical Cards Limit	3 per team member	N/A
Virtual Cards Limit	200 per team member	N/A
Monthly Card Spend	Unlimited	N/A
Monthly Top-Up	Unlimited	N/A
ATM Withdrawal Limit	£3000 per 24 hrs or equivalent in other currencies	N/A
Online Card Transactions	Variable & Flat fee applies based on card type and currency of transaction

Revolut Business Freelancer Pro Account

Feature	Limit/Allowance	Cost
Subscription Fee	N/A	From £5/month
Payments to Revolut Accounts	Unlimited	Free
Team Members	Unlimited	Free
Local Transfers	20 per month (excludes incoming transfers in USD, GBP, EUR, and CHF)	£0.2 per additional transfer
Guaranteed SWIFT OUR Transfers	None	Variable fee applies
International Transfers	0 per month (excludes incoming transfers in USD, GBP, EUR, and CHF)	£5 per additional transfer, £8 per additional transfer to a USA local account outside your home country
Free FX Allowance	£5k / month	0.6% fee beyond free allowance
Plastic Card	1 per account holder	Standard delivery £4.99, Express delivery varies
Metal Card	0 per business	N/A
ATM Fees	N/A	2% on all withdrawals
Expenses App		£5 per active team member
Payroll App		£3 per active team member
Physical Cards Limit	3 per account owner	N/A
Virtual Cards Limit	200 per account owner	N/A
Monthly Card Spend	Unlimited	N/A
Monthly Top-Up	Unlimited	N/A
ATM Withdrawal Limit	£3000 per 24 hrs or equivalent in other currencies	N/A
Online Card Transactions	Variable and flat fee applies based on card type and currency of transaction (1% for UK consumer cards, 2.8% for other cards)

Revolut Business Freelancer Ultimate Account

Feature	Limit/Allowance	Cost
Subscription Fee	N/A	£19/month
Payments to Revolut Accounts	Unlimited	Free
Team Members	Unlimited	Free
Local Transfers	100 per month (excludes incoming transfers in USD, GBP, EUR, CHF)	£0.2 per additional transfer
Guaranteed SWIFT (OUR) Transfers	None	Flat fee applies
International Transfers	5 per month (excludes incoming transfers in USD, GBP, EUR, CHF)	£5 per additional transfer, £8 per additional transfer to a USA local account outside your home country
Free FX Allowance	£10k per month	0.6% fee beyond free allowance
Plastic Card	1 per account holder	Standard delivery: £4.99, Express delivery: varies
Metal Card	1 per business	Including free express delivery: £49, Replacement for lost/stolen: £39.99
ATM Fees	N/A	2% on all withdrawals
Expenses App	Per active team member	£5/member
Payroll App	Per active team member	£3/member
Physical Cards Limit	3 per team member	N/A
Virtual Cards Limit	200 per team member	N/A
Monthly Card Spend	Unlimited	N/A
Monthly Top-Up	Unlimited	N/A
ATM Withdrawal Limit	£3000 per 24 hrs or equivalent in other currencies	N/A
Online Card Transactions	Variable & Flat fee applies based on card type and transaction currency (1% for UK consumer cards, 2.8% for other cards)

Key Features

1. Expense Tracking: Monitor expenses in real-time to stay on budget.
2. Automated Bulk Payments: Process multiple payments at once to save time.
3. Team Permissions: Control account access for different team members.
4. Physical and Virtual Cards: Provide employees with secure payment options.
5. Low-Cost Transfers: Send money domestically or abroad at competitive rates.

For freelancers, key features include:

1. Invoicing: Create and send professional invoices directly from the account.
2. Multi-Currency Accounts: Receive and manage payments in different currencies.
3. Expense Management: Track, categorize, and report business expenses easily.

Revolut Business Cards

Revolut offers physical and virtual debit cards with advanced features:

• Set spending limits and track transactions
• Freeze and unfreeze cards as needed
• Get reminded to submit receipts for easy bookkeeping
• Use virtual cards for secure online payments and subscriptions
• Access competitive rates for transactions in 150 currencies
• Optional metal cards for paid plans to make a professional impression
• 3D Secure and contactless limits to prevent fraud
  
  

Revolut Foreign Exchange and Multi-Currency Accounts

Revolut Business excels in managing multiple currencies:

• Exchange 25 currencies at competitive interbank rates
• Schedule exchanges, hold, send, and spend money 24/7
• Automate trades with limit and stop orders
• Get alerts when target exchange rates are met
• Lock in rates for up to 12 months with Forward Contracts
• Receive and send money with borderless account details

Revolut Business Account Integrated Business Tools

Revolut Business offers a suite of tools to streamline operations:

1. Analytics: Track spending, visualize data, and monitor trends.
2. Expenses: Easily submit, approve, and reimburse expenses.
3. Invoices: Create and send professional invoices; track payment status.
4. Payroll: Securely batch pay employees with a few clicks.
5. Rewards: Access exclusive offers and cashback deals for all business sizes.

These tools reduce manual work and provide valuable insights for decision-making.

Crypto Business Account

Revolut’s innovative Crypto Business Account lets you:

• Buy, hold, and sell Bitcoin and Ether from your business account
• Convert crypto to 25 fiat currencies anytime with no hidden fees
• Get alerts when coin prices reach your desired levels
• Control who can set up crypto transactions or view the portfolio
• Benefit from offline cold storage with trusted custodians for security

This feature offers a way for businesses to explore cryptocurrency markets.

Revolut Business Account Online Payment Solutions

Revolut Business provides flexible options to send, spend, and receive money:

• Accept payments from customers worldwide
• Use Revolut Reader to take contactless payments on your device
• Get paid remotely with secure payment links
• Let customers pay instantly by scanning a QR code
• Send links to get direct invoice payments
• Process online payments 24/7 with Revolut Payment Gateway

These tools make it easy to accept payments in various scenarios.

Revolut Security and Compliance

Revolut Business prioritizes the security of your funds and data:

• Funds are held with trusted banking partners and safeguarded under UK and EU regulations
• Transactions are protected by advanced security features like 3D Secure and customizable limits
• The platform complies with data protection regulations and employs encryption to protect sensitive information
• User-friendly tools are provided to help businesses meet their compliance obligations

With a focus on security and compliance, Revolut Business offers peace of mind for account holders.

Revolut Business Account Integrations and API

Revolut Business supports integrations with popular business tools:

• Connect your account with accounting software like Xero, QuickBooks, and FreeAgent
• Use the Revolut API to automate financial processes and build custom solutions
• Integrate with tools for expense management, payroll, and more
• Benefit from a growing ecosystem of third-party apps and services

These integrations help streamline workflows and save time on manual tasks.

Revolut Business Account Perks and Partner Offers

Revolut Business account holders can access exclusive perks:

• Discounts on business tools and services from Revolut partners
• Cashback on common business expenses like travel, advertising, and software
• Special offers from co-working spaces, marketing agencies, and more
• Perks are available to all account holders, regardless of plan or business size

These partner offers and perks provide additional value for Revolut Business users.

Revolut Business Account Customer Support and Resources

Revolut Business provides multiple channels for support and learning:

• 24/7 in-app chat support for quick assistance
• Dedicated phone support for premium account holders
• Comprehensive online help center with articles and tutorials
• Business community forum to connect with other users and share knowledge
• Regular webinars and events to learn about features and best practices

Whether you need help with a specific issue or want to expand your knowledge, Revolut Business offers support and resources to help you succeed.

Revolut Web App and Mobile Apps

In addition to the feature-rich web app, Revolut Business offers mobile apps for iOS and Android:

• Manage your account, cards, and transactions on the go
• Approve and categorize expenses with a few taps
• Send and request payments from your mobile device
• Get real-time notifications and insights about your business finances
• Benefit from biometric login and other mobile-specific security features

The mobile apps provide a convenient way to stay on top of your business finances from anywhere.

Open API and Revolut for Business Developers

For businesses with more advanced needs, Revolut offers an open API and developer tools:

• Build custom integrations and automate financial workflows
• Access real-time data and insights about your business transactions
• Create custom payment experiences for your customers
• Benefit from a sandbox environment for testing and development
• Get support from the Revolut developer community and documentation

With the open API, businesses can create tailored solutions that fit their unique requirements.

Revolut Business Account User Reviews and Ratings

Revolut Business has received positive reviews from users across various platforms:

• High ratings on app stores for ease of use and functionality
• Positive testimonials from businesses of different sizes and industries
• Praise for the platform’s speed, security, and cost-effectiveness
• Users appreciate the wide range of features and integrations

These user reviews provide social proof of the platform’s value and effectiveness.

Getting Started with Revolut Business

Opening a Revolut Business account is quick and easy:

1. Sign up online with your business details and identification
2. Choose your plan and complete the verification process
3. Order your physical cards and set up your account preferences
4. Start managing your business finances and take advantage of the platform’s features

Revolut Business offers a hassle-free way to get started with modern financial management.

The Future of Revolut Business

Revolut Business is constantly evolving to meet the changing needs of businesses:

• Regular updates and new features based on user feedback and industry trends
• Expansion into new markets and currencies to support global business
• Partnerships with leading companies to offer more integrations and perks
• Investment in security and compliance to stay ahead of regulatory requirements

By choosing Revolut Business, you benefit from a platform that adapts to the future of business finance.

Conclusion

In conclusion, Revolut Business is a comprehensive financial management platform that offers a wide range of features and benefits for modern businesses. From multi-currency accounts and expense tracking to open APIs and partner perks, Revolut Business provides the tools and support needed to streamline financial operations and drive growth.

With a focus on security, compliance, and user experience, Revolut Business is well-positioned to meet the evolving needs of businesses in 2024 and beyond. Whether you’re a freelancer, startup, or established company, Revolut Business can help you manage your finances more efficiently and effectively.

To experience the benefits of Revolut Business firsthand, sign up for a free trial of a paid plan and explore the platform’s features. With a dedicated support team and extensive resources, you’ll have everything you need to succeed with Revolut Business.

Take control of your business finances today and join the thousands of companies already benefiting from Revolut Business.

FAQs about Revolut Business Account