Revolut Business Review
Revolut Business has established itself as one of the most popular digital banking solutions for freelancers, startups, and SMEs looking for a modern alternative to traditional business banking.
General
Written by Can Ozer
•2 min read•Updated on
Revolut Business has established itself as one of the most popular digital banking solutions for freelancers, startups, and SMEs looking for a modern alternative to traditional business banking. Launched in 2017, the platform now serves millions of business customers worldwide, offering a compelling mix of multi-currency accounts, competitive exchange rates, and powerful expense management tools.
Key Features and Benefits
With support for over 25 currencies and the ability to hold, exchange, and send money internationally at interbank rates, Revolut Business is particularly attractive for companies with global operations or frequent cross-border transactions. The integrated expense management system allows businesses to issue physical and virtual cards to employees, set spending limits, and track expenses in real-time—eliminating the need for manual receipt collection and lengthy reimbursement processes.
Pricing Plans
One of the platform's standout features is its tiered pricing structure, which ranges from a free plan suitable for freelancers to enterprise-level solutions for larger organisations. The free tier includes basic features like a GBP and EUR account, while paid plans unlock benefits such as unlimited free local transfers, team expense cards, and advanced analytics.
Cards and Payments
Revolut Business offers both physical and virtual cards with Apple Pay and Google Pay support. Businesses can create unlimited virtual cards for online subscriptions and one-time payments, making it easier to manage vendor relationships and reduce fraud risk.
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Things to Consider
However, Revolut Business isn't without limitations. As an e-money institution rather than a fully licensed bank in most jurisdictions, deposits aren't protected by traditional deposit insurance schemes like FSCS in the UK. Customer support has also been a point of criticism, with some users reporting slow response times for complex issues.
Final Verdict
For businesses that prioritise flexibility, international capabilities, and a seamless digital experience over branch access and traditional banking relationships, Revolut Business remains a strong contender in the neobank space. It's particularly well-suited for digital nomads, e-commerce businesses, and startups with international payment needs.
Frequently Asked Questions
What types of businesses can open a Revolut Business account?
Revolut Business supports freelancers, sole traders, limited companies, and LLPs. Whether you're a solo consultant or running a growing startup, you can apply online and typically get approved within minutes, though some applications may require additional verification.
How much does Revolut Business cost?
Revolut offers a free plan with basic features, plus paid tiers (Grow, Scale, Enterprise) starting from around £25/month. Paid plans include higher transaction limits, more free international transfers, and advanced features like multi-user access and API integrations.
Can I hold and exchange multiple currencies?
Yes, Revolut Business lets you hold over 25 currencies and exchange at interbank rates. You also get local account details in GBP, EUR, and USD, making it easy to receive payments from international clients without conversion fees.
Does Revolut Business offer payment processing for e-commerce?
Revolut provides a merchant acquiring service called Revolut Pay, allowing businesses to accept card payments online. You can integrate it with your website through their API or payment links, with competitive transaction fees and fast settlement times.
Is Revolut Business suitable for international payments?
Absolutely. Revolut Business is popular among freelancers, digital nomads, and companies with global clients because of its low-cost international transfers, multi-currency accounts, and the ability to pay in local currencies without high FX markups.
About the author
Founder of Sirket.io & Editor at BankList.co
Can Ozer is the founder of Sirket.io with over 6 years of experience in international taxation. He has helped many entrepreneurs with offshore company formation, business bank account opening, and payment infrastructure applications across multiple jurisdictions. At BankList.co, he reviews and curates banks and financial services to help founders choose the right financial partner.
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