How does Revolut work: setup, fees, and features

In today’s fast-paced digital economy, traditional banking isn't always what people look for. Long queues, endless paperwork, hidden fees, and delayed global payments no longer fit in a world that runs on mobile apps and instant transactions.

Revolut, now a fully licensed UK bank through Revolut Bank UK Ltd, is designed for the way people actually manage money today — fast, flexible, and built around a mobile app. If you're thinking about finding a more modern option for your money you’re on the right track. But how do you choose the best account?

In this guide, we’ll walk you through what to look for. Then, we'll explain why Revolut stands out as one of the best options available, including what to expect and how to use it.

What is a digital account?

These days, fintechs like Revolut are saying goodbye to traditional bank branches. Instead, they offer streamlined accounts bundled with useful features like savings and budgeting tools, alongside fast setup, innovative security features, and 24/7 access to customer support. Better yet, it's all available through a mobile app.

Digital accounts are designed to put you in control of your money. They prioritise customer experience, flexibility, and lower fees. Anyone tired of legacy banks’ inefficiencies could benefit from switching.

And with Revolut, you get the best of both worlds. Because Revolut is a fully licensed UK bank, authorised and regulated by the PRA and FCA, your eligible deposits are protected by the FSCS up to £120,000 per customer. We combine all the convenience of a digital account with the same protections as a traditional UK bank.

Opening an account with a digital bank or fintech is typically fast and entirely online, eliminating the need for in-person branch visits and lengthy paperwork. Most digital providers, including us, allow customers to sign up in just a few minutes by completing a simple in-app process.

Security is a top priority for digital financial accounts. Most offer real-time account controls such as card freezing, custom spending limits, and two-factor authentication.

Revolut's advanced security systems also monitor for suspicious activity around the clock to protect customers' money. Meanwhile, a dedicated customer support team is available 24/7.

Key features to look for in a digital financial account

When comparing options, make sure you think about:

• What’s available: does it offer more than just basic money management features?
• The costs: what are the fees for transfers, currency exchange, and ATM withdrawals? Are the fees clear and upfront?
• Global money features: can you send and receive money internationally with ease? Can you spend and withdraw different currencies around the world?
• Customer reviews: what do real customers say about their experience?
• App navigation: is the app smooth and intuitive? Is it easy to use?
• Security: will your money be as secure as it is with a traditional bank?

Rethink your finances: how to use Revolut and make the most of it

Let’s walk through a few of the reasons it may be worth a switch to Revolut.

Simple and fast account setup

Opening a financial account used to require scheduling a branch visit and filling out stacks of paperwork. But with online digital accounts like Revolut, you can be up and running in minutes.

So, how does it work? First, you’ll fill in a few details in-app, then upload your ID, take a selfie, and your account is live. The entire sign-up process is digital, secure, and painless. No queues, no paperwork, just fast access.

All you need to sign up is:

• Your phone: to download the app and create an account
• Your ID: to confirm your identity with a photo
• Internet connection: so you can connect to the app

Low-fee and no-fee features

Traditional banks often hide charges in the fine print — including maintenance fees, currency exchange mark-ups, and withdrawal charges. But fintechs are disrupting the norm by reducing or eliminating unnecessary fees.

For example, we offer a Standard plan that charges no monthly subscription fees. It includes free budgeting tools and low-fee features with clear pricing and no surprises. You'll even get monthly allowances for withdrawals, global transfers, and currency exchanges with upfront fees and competitive exchange rates.

For customers looking for more, we also offer paid plans (Plus, Premium, Metal, and Ultra), each tailored to different lifestyles. These tiers unlock a range of added benefits including higher withdrawal limits, travel insurance, airport lounge access, loyalty points, and advanced tools for investing in your financial future. Plan T&Cs apply.

Smart international features

Whether you're a frequent traveller, a digital nomad, or simply shopping globally, we make international payments effortless.

Pay no fees on currency exchange at competitive rates within your plan allowance.¹ Hold 38+ currencies in one place, and send money globally fast, and for less than what many traditional banks charge. You can even send money to other Revolut customers around the world instantly and without transfer fees.

You can also withdraw currencies from in-network ATMs around the world, and we'll charge you no fees within your monthly ATM allowance. Find the nearest ATM using our in-app map.

¹Weekend exchange fees may apply depending on your plan. T&Cs apply.

All-in-one app experience

Rather than juggling different apps for budgeting, saving, and sending money abroad, access an integrated platform with Revolut. We offer an all-in-one app for daily money management and investing in your long-term goals. It even includes lifestyle and travel features like Lounges, Stays, Shops, and eSIMs.²

²Availability varies based on region. T&Cs for Lounges, Stays, Shops, and eSIMs apply.

Advanced security features

With Revolut Secure, you’re entering the new era of money security — where every account has 24/7 protection through proactive, purpose-built defences and a dedicated support team. Customers worldwide trust us to look after their money.

You can also personalise your settings to stay in complete control. Freeze your card in-app if you lose it, set limits, and add extra layers of security from our in-app control centre.

Is Revolut the right choice for you?

Revolut isn’t just a place to hold your money — it’s a powerful financial toolkit. Here's just a few things customers can do in-app to make their money work for them:

• Earn interest on savings accounts³
• Spend with virtual cards for added security
• Use budgeting and analytics tools
• Split bills with friends instantly

³T&Cs apply. Savings rates depend on your plan type and savings’ currency.

Create a Revolut account for free

You can create a Revolut account with the Standard plan for free. Then, when it comes to sending, exchanging, and more, our fees are clear and shown to you in-app before you make any decisions. You’ll know what you’re paying for — and what you’re not.

We offer multiple plan options, which come with higher monthly no-fee allowances, so you can exchange and send money abroad at competitive rates. And you'll pay zero transfer fees when you send money to other Revolut customers.

Expect a customer-first experience

We're here to help, 24 hours a day, 7 days a week. Whether you want to browse our Help Centre for solutions or chat to us directly, we’ve got you — even on a Sunday. Just contact Revolut Support via the live in-app chat.

Don’t just take our word for it — check out our App Store and Google Play Store reviews, as well as Revolut's Excellent Trustpilot rating — we're among the best in the industry.

Wrapping up

Whether you're fed up with confusing fees or looking for smarter international money management options, Revolut’s award-winning features and services can help you change the way you money.

Access a broad set of features with low fees, and an app that offers convenience and flexibility. Revolut combines the core functions of a traditional financial account with modern tools that simplify life — from managing multiple currencies to budgeting for long-term financial goals.

With high customer satisfaction, fast account set-up, and a powerful set of money features, Revolut is built for those who are tired of legacy banking setups. If it seems like the right fit for you, create a Revolut account to get started.

We were granted our full banking licence in March 2026. At the time of publication, some existing customers may still be‌ being moved over to bank accounts. This means that some information about banking protections may not yet be applicable to all customers.

Revolut Bank UK Ltd (https://revolut.com) is registered in England and Wales (Registered No. 12871051). Registered address: 30 South Colonnade, London E14 5HX, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Financial Services Register No. 981170).