- Revolut is highly rated in both expert and user reviews, boasting an average of 4.6/5 from 518 user reviews. Users appreciate its user-friendly app and low-cost services, while experts highlight its innovative features for banking and investing. However, concerns about the lack of full banking protections and limited investment options have been noted.
- Experts commend Revolut for its easy-to-use platform and competitive pricing, rating it highly across various criteria, including customer service and online platform usability. However, they caution that as an e-money institution, it lacks the same protections as traditional banks, which may be a consideration for potential users.
- Users frequently praise Revolut for its seamless transactions, excellent customer service, and ease of use, particularly for international money transfers. However, some users express frustration with account management issues and a perceived lack of support during problems, indicating a mixed experience regarding customer service responsiveness.
Good
Good
Ok
Ok
Useful and practical
Useful and practical
Don’t like the overseas cash…
Don’t like the overseas cash withdrawal limits
No real experience
No real experience
fine
fine
I use for holiday money…
I use for holiday money abroad and have invested in some shares, easy to do and understand.
quick and easy
quick and easy
5/5
suits beginners and casual investors…
suits beginners and casual investors who value ease of use and low fees, but it may not meet the needs of more advanced investors due to its limited investment options and tools.
Reliable support when traveling
Reliable support when traveling
Very cheap trading costs
Very cheap trading costs
very good for currency conversions
very good for currency conversions
Never used
Never used
I havnt used this for…
I havnt used this for investment but as current account
N/A
N/A
Great for using abroad for…
Great for using abroad for conversions
Excellent range of currencies
Excellent range of currencies
Really good benefits and ease…
Really good benefits and ease of use
I am yet invest as…
I am yet invest as it is a recent account.
Revolut is an all-in-one banking and investment app loved by millions
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
Pros
- Easy to use
- Low cost
- Innovative product
Cons
- New company
- Limited Range of investments
- App only
-
Pricing
(5)
-
Market Access
(4.5)
-
Online Platform
(5)
-
Customer Service
(5)
-
Research & Analysis
(4)
Overall
4.7Tell us what you think of this provider.
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.
