Revolut (Lithuania) Reviews: Multi-Currency Banking and Perks
Did you know Revolut supports 36 currencies in over 150 countries? This fintech app has changed the game for travel money and currency exchange. Since 2015, it has attracted over 18 million customers worldwide.
Revolut’s success is clear in its numbers. In 2023, it made $2 billion in revenue and $350 million in profits. This has boosted its value to $25.7 billion by April 2024.
What makes Revolut stand out? It offers affordable international transfers and a simple app. Users can easily manage 28 currencies, perfect for travelers and businesses.
Revolut’s growth is impressive. It entered the USA in 2020, expanding its global reach. With its wide range of services and low rates, it’s changing banking for the better.
Key Takeaways
- Revolut supports 36 currencies in over 150 countries
- The company reported $2 billion revenue and $350 million profit in 2023
- Revolut’s estimated valuation stands at $25.7 billion
- The platform offers multi-currency accounts and competitive exchange rates
- Revolut has expanded to the USA market, enhancing its global presence
- The app allows users to hold and exchange 28 currencies easily
Introduction to Revolut: A Global Fintech Leader
Revolut has changed the world of digital banking since 2015. It was started by Nik Storonsky and Vlad Yatsenko. Today, it has over 45 million users in more than 50 countries.
With a value of $45 billion in August 2024, Revolut’s success is clear. It shows how new ideas can change banking.
Company Overview and History
Revolut’s growth is amazing. In 2023, it made £1.8 billion in revenue and £344 million in net income. Its value has soared, from £4.2 billion in 2020 to $33 billion in 2021.
It has also raised $1.7 billion in funding by June 2023. This shows its success in the fintech world.
Revolut’s Expansion into Lithuania
Revolut Bank UAB in Vilnius, Lithuania, is key for its European operations. This move has helped Revolut grow its services across Europe. It offers features like no fees for global spending and cheap international money transfers.
Key Features and Services
Revolut has personal and business accounts with different plans. Personal plans range from free to €13.99 a month. Each plan has special perks like travel insurance and crypto trading.
Business plans start at free and go up to €149.99 a month. Revolut supports 28 in-app currencies and over 50 local currencies. It’s designed for people worldwide who need full digital banking services.
Multi-Currency Banking with Revolut
Revolut offers a great way to handle money when traveling. It supports 36 currencies in over 35 countries. This makes it easy to manage money without borders.
Supported Currencies and Exchange Rates
Revolut lets you use many currencies worldwide. The exchange rates are close to what banks offer, but a bit less. This small difference helps Revolut stay competitive.
Fee Structure for Currency Conversions
Revolut’s fees are clear and fair. You get free exchange up to a certain limit each month. On weekends, there’s a 1% fee. This way, you can choose how much you need to exchange.
International Money Transfers
Revolut makes sending money abroad easy. Free transfers are available in the SEPA region and the UK. For other countries, fees vary. It’s good for small amounts, but check other options for big transfers.
| Plan | Monthly Fee | Free ATM Withdrawals | International Transfer Discount |
|---|---|---|---|
| Standard | Free | Up to £200/month | None |
| Premium | £6.99 | Up to £400/month | 20% |
| Metal | £12.99 | Up to £800/month | 40% |
| Ultra | £45 | Up to £2,000/month | 100% |
Revolut’s Account Types and Pricing Plans
Revolut is a top fintech app with many digital banking options. It has different account types, each with its own features and prices.
The Standard account is free and lets you exchange up to €/£1000 a month without fees. For more features, you can choose from Plus, Premium, Metal, or Ultra plans. These plans have higher exchange limits and extra benefits.
| Plan | Monthly Fee | Exchange Limit | ATM Withdrawal |
|---|---|---|---|
| Standard | Free | $1,000/month | $400/month |
| Premium | $9.99 | $10,000/month | $800/month |
| Metal | $16.99 | Unlimited | $1,200/month |
Revolut also has accounts for businesses with features like multi-user access and virtual cards. Freelancers and side hustlers can use Revolut Pro for tools like invoice creation. With over 40 million customers, Revolut is changing the way we bank.
Revolut (Lithuania) Reviews: Multi-Currency Banking and Perks
Revolut has become a big name in global fintech, especially in Lithuania. People love its easy-to-use app and lots of features. Let’s look at what makes Revolut special in Lithuania.
User Experience and App Functionality
The Revolut app is easy to use. You can find everything from currency exchanges to international transfers easily. It supports over 150 currencies, perfect for travelers and businesses.
Customer Service Quality
Revolut’s customer service is mainly through chat and email. Some might find it limited, but others like the fast replies. The app’s help center is great for solving problems quickly.
Security Features and Regulatory Compliance
Revolut takes banking security very seriously. It uses strong measures to keep your data and money safe:
- Two-factor authentication
- Fingerprint recognition
- Real-time transaction monitoring
Revolut works under the Bank of Lithuania’s rules, following EU financial standards. Your deposits up to €100,000 are safe, thanks to the European deposit guarantee scheme.
| Feature | Benefit |
|---|---|
| Multi-currency support | Spend in 150+ currencies |
| Instant transfers | Send money to 200+ countries |
| Business accounts | Manage funds in 25+ currencies |
| Virtual cards | Up to 200 per team member |
Revolut offers top-notch mobile banking, great customer service, and strong security. It’s changing the financial scene in Lithuania and worldwide.
Revolut’s Unique Perks and Additional Services
Revolut is a leader in fintech with its wide range of perks and services. It has over 40 million customers worldwide. This banking giant meets the financial needs of many.
Virtual and Physical Cards
Revolut offers both virtual and physical cards for safer online shopping. The Metal card, for higher-tier subscribers, gives unlimited lounge access. It’s great for those who travel a lot.
ATM withdrawal limits depend on your plan. Ultra subscribers can withdraw up to £2,000 monthly.
Budgeting Tools and Analytics
Revolut’s budgeting tools make managing money easy. The app is easy to use, with a 4.3/5 Trustpilot rating. This helps users track their spending well.
These tools have helped Revolut see a 95% revenue increase in a year. It now makes £1.8 billion annually.
Cashback Rewards and Promotions
Cashback rewards are a big deal, especially for premium account holders. Plus, Premium, Metal, and Ultra cards offer up to 5% cashback on card payments. This makes spending abroad more rewarding.
Revolut’s success is clear with its £438 million profit. This is a big jump from previous years.
Source Links
- Revolut Review: Pros & Cons
- Revolut US Review (2022)
- Revolut vs TransferWise (Wise) Comparison in 2024
- Revolut
- Full Review: Revolut’s Bank Accounts (2024)
- Revolut Business Review: Pros & Cons
- Revolut Business Account Review [2024]: Features, Fees & Alternatives
- Revolut Review: features, fees and how it works in the UK?
- Revolut Review: Rates, Fees & Safety 2024 | TopMoneyCompare
- Revolut Card Review | How to Use Revolut Abroad
- Revolut Card Review – Pros and Cons for International Travel
- 2024 Revolut Business Review [From 3 Years Of Personal Experience]
- Revolut Card Review (Uncovered) → 8 Things You Must Know
