How to get started with Revolut Business
Business · 31 January 2024Richard Johnson
Revolut Business isn't your traditional business account. If you need to streamline your routine financial admin, gain back time to plot your next steps, and scale at speed — you've come to the right place.
And joining us is simple. But in case you're wondering just what's involved, we'll guide you through a typical sign-up journey. This handy guide will help walk you through your first steps.
How do I open a Revolut Business account?
You can open a Revolut Business account on our sign-up page. From there, you'll be directed to a brief online application form to complete. We start by asking for a few standard personal details like your full name, address, and date of birth.
We then ask for some information about your business, starting with basic incorporation details. This includes your company's registered name, incorporation number, and trading name. If we can't find your company through these means, we may ask you to provide your most up-to-date incorporation certificate or registry extract.
Verifying my identity
Finally, we'll ask you for documents to prove your identity. This includes your name, address, a photo of your ID, and a selfie. We’ll also need a description of what your company does, and where.
Not a director or shareholder of the business? We'll also need proof of authorisation to open an account, confirming your right to set up an account in the business' name.
Are you a freelancer?Use Revolut Pro — a no-cost account made for solo business ventures — that already lives in your Revolut app.
Once you've filled in these details, your application is sent to our team to be checked. Then, it's just a matter of waiting for us to respond — and sometimes we might reach out to you to confirm a few specifics.
And when we've approved, you can get started by transferring money into your new account.
What if I’m already a Revolut customer?
If you already have a Personal account with Revolut, you won't have to give us your personal details again when you open a Revolut Business account. Even better, you can instantly transfer money from your personal Revolut card to top up your Business account, at no cost.
How to instantly transfer money from Revolut to Revolut Business:
- From the Revolut Business app’s Home screen, tap your profile icon in the top left. You’ll find your Revtag under your Business name.
- In your Personal Revolut app, go to Transfers > search or add your business’s Revtag > Send > add the amount you want to send from a specific account > hit Send. Find out more about how Revtags work.
Using your account details:
- From the Revolut Business app’s Home screen > More (...) > Account details. Then simply send money to these details via your Revolut app.
If you're starting with a paid plan, your monthly account fee is deducted from your Business account balance.
Can I have multiple Revolut Business accounts?
We know for some businesses, one account just won't cut it — so check out our multi-business accounts. This means you can easily manage multiple Revolut Business accounts in one place, accessing all of them in a few clicks or taps in-app.
How long will it take to get my application approved?
Before you start your application, it's a good idea to check if your business is eligible for a Revolut Business account. If it is, it can take just a few hours to get your Business account approved. It could take longer if we need to follow up with you and ask for any extra documents, which you may or may not have to hand.
Once your application's approved, and your Business account's open, you'll already have currency accounts with local account details:
🇬🇧 GBP account number and sort code for GBP payments
🇪🇺 EUR IBAN and BIC code for EUR payments
🇺🇸 USD account number and routing number for USD payments (UK and US only)
You'll also be able to create currency accounts to hold, exchange, and transfer your money via SWIFT or SEPA using unique IBANS and BIC/SWIFT codes.
I’m set up — what should I do first?
Once your account’s set up (and you’ve popped some bubbly), there are a couple of things you’ll want to do:
- Add money to your account, from any account. To find your Business account details, go to Home > More (...) > Account details
- Invite your team to join, and make sure they have spending power with virtual and physical debit cards
- Set in-app permissions so your team only accesses the parts of the app they need — and only spend in specific amounts and categories
- Create any currency accounts you need (you can make as many as you like in 25+ currencies)
After that, it’s up to you. Explore Expenses. Set up Analytics to dive into detail on your spending. Use Forwards to lock in great exchange rates for the future. Find out how to manage your spending, or link tools and apps you already use to your Revolut Business account. And lots more.¹
What will your success story be?
With your account set up and our suite of tools navigated, you’ll be ready to really get moving.
Like UK-based sustainable personal hygiene brand Wild, which grew over 400% in revenue in 2020-21 (with a finance department of one!). With Revolut Business at their side, they can now confidently make fast-paced market entry decisions.
And EdTech ThePower Business School, who said Revolut Business was ‘the only solution that helped us with going global’. Now they’ve broken into over 50 markets and their revenue’s almost 10x greater than when they started in 2020.
Or Sunway, a leading travel agency in Ireland, who used our Business API to reconcile €10 million in flight transactions each year. And saved countless hours of manual work. And reduced the risk of errors in their financial records.
Now it's your turn
If you've got any questions, pleasereach out to our sales team— we're more than happy to help.