- Experts rate Revolut highly as a versatile app for investing, noting its ease of use and low costs as significant advantages. However, they caution that it is regulated as an e-money institution rather than a bank, which means it lacks FSCS protection for customer funds, a critical consideration for potential users.
- Across 524 user reviews on Good Money Guide, averaging 4.5/5, customers frequently commend the app’s user-friendliness, competitive exchange rates, and efficient customer service. However, some users express concerns about account freezes and perceived issues with fund safety, highlighting a mix of positive experiences alongside critical feedback regarding reliability and support.
Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.- Pricing5.0
- Market Access4.5
- Online Platform5.0
- Customer Service5.0
- Research & Analysis4.0
Pros
- Easy to use
- Low cost
- Innovative product
Cons
- New company
- Limited Range of investments
- App only
See full expert review
Our verdict
Revolut is an all-in-one banking and investment app loved by millions. Revolut offers banking, saving, spending, investing, foreign exchange and cryptocurrency services to 50 million individual customers and 500k businesses around the world.
Is Revolut good for investing?
Revolut is a good choice for investors that want to buy and sell major shares and cryptocurrencies. No funds, or smaller cap stocks, but a good entry-level account for most investors.
One of the most commonly asked questions about new banks and fintech is if they are a safe place to keep your money. The answer is generally, yes, if they are regulated by the FCA as funds are protected by the FSCS up to £85,000. But, Revolut, is regulated as an e-money institution and not as a bank so you do not get the FSCS protection.
Revolut says that if they were to go bust, client funds would be paid out of a “safeguarding” account which is a type of ringfenced account where client funds are held. When funds are in this type of account, Revolut cannot (in theory, at least) lend them out or use them to run the business. This is how banks traditionally made money, they pay you a smaller amount of interest than they receive on the money they lend out and make a profit from the difference (among other things).
For small money transfers, Revolut is safe enough, but as with all currency conversions if you are sending over £10,000 abroad you should be using a currency broker. You’ll get much better rates, more control over when you buy and sell, help with all the AML (anti-money laundering) issues that may come up, and the ability to lock in the currency exchange rate for up to a year in advance (if you think it will move against you).
- Sending a small amount of money abroad? Compare the best money transfer apps
Customer reviews
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 524 reviews
- Excellent73%
- Very good16%
- Basic6%
- Poor2%
- Bad3%
Read customer reviews
Always the best exchange offer
Seamless
Disgusting company
Absolutely sick of this company not closing an inactive account from over 3 years ago. Just send rude, blunt emails. So unhelpful and zero customer compassion or care
Unaccredited nonsense
Please just enter into your Google search “revolut scam” and educate yourself before joining. Read BBC, Guardian, and Reddit articles/posts. Selfie camera doesn’t work, and they refuse to offer an alternative login method, so I can’t access my money. Keep getting same automated response(do some work you twits). They heavily spam my email, though. No customer service so imagine being stuck abroad with these absentee idiots as your lifeline, best learn to beg or busk in the local language. Check these articles for more info:
www.bbc.co.uk/news/articles/c9wkzv1zk91o
www.theguardian.com/money/2024/apr/10/im-a-victim-of-scammers-but-revolut-says-no-to-a-refund
www.bbc.co.uk/news/articles/cj6epzxdd77o
Very good digital service provider
Easy to use app and banking experience, recommended.
Best bank I've been with
Amazing banking features and customer service
Super prilojenie nice
Super prilojenie nice
Currency made easy
Love how clear and easy to use the app is !
Easy transactions
Best app so far
Reliable and friendly banking
Revolut is one of the best online bank in UK is reliable, efficient and effective in all there financial aspects both in security, investment and management of financial services to general public. It worth recommending.
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Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
