What are the differences between Company and Freelancer Business plans?
A Freelancer Account is dedicated to freelancers, sole traders, sole proprietors (for US registered companies).
Company accounts are dedicated to companies that are already registered in your Government Business Registration Service. At the moment, Revolut does not support companies that don't have a registration number yet. A must to open a company account is to have all the incorporation documents we might require available during the onboarding process. You can check the list of documents we might require here.
The main difference between Freelancer accounts and Company accounts is that the first one is held under your name, not the name of your company, and the transfers that you send and receive are displayed under your name as well. If you would like to be able to receive and send funds under your company's name (not personal name) you may apply for a Company account.
However, if you don't have a registered company (a must-have for Company accounts), are self-employed and do not plan to hire, Freelancer accounts may be the best and the cheapest option for you, but remember that you will not be able to use your company's trade name with your account details.
If you've started an application for a Company account, but you're a Freelancer, please raise a support request so we can switch your Business account application to Freelancer. You won't be able to change back to a Company account unless you apply again.
So that you can see and compare all the plans that we offer, and which one suits your company's needs the best, please click here.