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Revolut Money Transfer: Review & Comprehensive Guide

Updated on December 08, 2023 01:24 am
Revolut

With so many transfer options available on the market, how do you find the one that is the best for you? It is not easy, we know. That is why we wrote this guide and review. 

Revolut Money Transfer emerges as a prominent player in the money transfer landscape. This comprehensive guide aims to explore the unique features, cost, transfer limits, speed, safety measures, step-by-step instructions for money transfers, pros, and cons associated with Revolut Money Transfer.

What is Revolut Money Transfer?

Revolut Money Transfer is an integral part of the Revolut app, a digital banking platform offering a suite of financial services. It allows users to transfer money domestically and internationally at competitive rates. 

Its uniqueness lies in its user-friendly app interface, enabling users to access banking services, manage currencies, and transfer money globally, all from the convenience of their mobile device. Revolut’s prowess in providing competitive exchange rates and facilitating cost-effective transactions sets it apart in the digital banking sphere.

Countries supported by Revolut Money Transfer include: 

  • Canada 
  • India
  • Australia
  • Brazil
  • Chile
  • Colombia
  • Finland
  • France
  • Germany
  • Greece
  • Ireland
  • Italy
  • Japan
  • Mexico
  • Monaco
  • Nepal
  • New Zealand
  • Philippines
  • Puerto Rico
  • Spain
  • Sri Lanka
  • South Africa
  • Switzerland
  • And many more. . . 

To view a complete list of countries that Revolut serves, navigate to the “International Travels” page under the “Personal” button. There you will find the money transfer calculation tool. Select the drop down menu for the receiving country and you will be shown all the countries you can send money to! 

How Much Does Revolut Money Transfer Cost? 

Revolut typically offers transparent and competitive rates for its money transfer services, often with minimal or no hidden fees. Transfer fees may vary based on factors like transfer amount, currency conversion, and destination. 

To see an estimate of what your transfer cost will be before you commit to the process of creating an account, navigate to the money transfer calculation tool on their “International Transfers” page. Enter the basic details of how much you want to transfer and where you want to transfer it to. Then, you will see an estimate of how much your transfer fee will be. 

How Much Money Can I Send Using Revolut? 

In general, Revolut money transfer doesn't impose transfer limits for most currencies. However, specific currencies might have limitations established by Revolut's payments partners. Prior to initiating the transfer, users will always have visibility of any applicable limits for the chosen currency within the Revolut app.

How Long Does Revolut Take to Send Money? 

The time it takes for Revolut to send money varies based on the chosen payment method. Transfers to other Revolut customers and card payments are typically received within minutes. While transfers to cards usually take a few minutes, in some cases, it might extend up to 30 minutes for processing. For international transfers, it can take anywhere from 3 to 5 business days for the funds to reach the recipient's account.

Is Revolut Safe? 

Revolut prioritizes user security, employing stringent security measures like end-to-end encryption and two-factor authentication to safeguard financial information and transactions. The platform is licensed as an Electronic Money Institution and regulated by financial authorities, enhancing its credibility and reliability.

How to Send Money With Revolut? 

Now for the biggest question you must have: how does Revolut work?

Luckily, using Revolut for your international money transfers is relatively straightforward. Here's a step-by-step guide:

  1. Download and Register: Download the Revolut app and sign up for an account.
  2. Identity Verification: Complete the identity verification process for account activation.
  3. Add Funds: Add funds to your Revolut account using various supported methods.
  4. Select Transfer Option: Choose the "Transfer" feature and input recipient details.
  5. Enter Amount and Confirm: Enter the amount to transfer, review details, and confirm the transaction.

Revolut provides a tracking feature that allows you to monitor the status of your transfer in real-time either from the Revolut app or your online login. You'll receive notifications when the money is sent and when it's received by the recipient.

How to Contact Revolut? 

Revolut offers various ways to contact their customer support team for assistance or inquiries.

You can reach Revolut's customer service by tapping into their in-app support feature available directly within the Revolut mobile app. This allows users to access live chat support for immediate assistance with queries or concerns. 

On their website, Revolut has a comprehensive Help Center or FAQ section. Here, you can find answers to many of Revolut’s commonly asked questions. 

You may be able to access a live chat feature through the app or website to get real-time assistance.

Still need help with Revolut? Call the support team at any time at (+18447443512) or send them an email at the address: [email protected] 

Additionally, users can find assistance via email or social media platforms such as Twitter.

Pros of Revolut Money Transfer

Based on our research of customer reviews and comparison to other remittance providers, the pros of the Revolut money transfer service are:

  • Competitive Exchange Rates: Often offers competitive rates for currency exchange and international money transfers.
  • User-Friendly App: Revolut's mobile app provides a user-friendly interface for easy navigation and transactions.
  • Fast Transfers: Allows for near-instantaneous transfers between Revolut accounts.
  • Multi-Currency Support: Facilitates transactions in multiple currencies, beneficial for international users.
  • Low-Cost or Fee-Free Transfers: Depending on the account type or subscription plan, transfers may be fee-free or incur low costs.
  • Convenient Features: Offers various convenient features like splitting bills, virtual cards, and cryptocurrency exchange.

Cons of Revolut Money Transfer Service

Based on our research of customer reviews and comparison to other remittance providers, the cons of the Revolut service are:

  • Variable Fees: Certain transactions or account types might have variable fees, impacting overall costs.
  • Transfer Limits: Transfer limits could be applied, affecting the maximum amount that can be sent per transaction or within a specific timeframe.
  • Exchange Rate Fluctuations: Rates might fluctuate, leading to variability in the final amount received by the recipient.
  • Possible Delays for International Transfers: International transfers might take a few days to reach the recipient's account.

Revolut Money Transfer Service Alternatives

If you’re looking for an alternative to Revolut’s remittance service, here are some top remittance providers we recommend that offers low fees, excellent exchange rates, and are easy to use: 

Revolut Reviews

Need more assurance about Revolut? Let’s see what users of Revolut have to say. Sourced from multiple platforms, customer reviews of Revolut are: 

Revolut scores a “Great” rating on TrustPilot with a TrustScore of 4.2 out of 5. 

So far I like everything about your bank it works fast for transfers, keeps me notified on everything. To link up to other bank accounts or money sending platform's no problems.” - David Banks on TrustPilot

“Revolut is great for transferring small amounts (up to £1000 per month), the exchange rates are good and the process is simple and quick.” - User on productreview.com

I love being able to instantly transfer to a child who needs money immediately. I love that I can use my card on Google Pay.” - User on Trustpilot

Do We Recommend Revolut?

In summary, Revolut Money Transfer presents itself as a robust solution in the digital finance landscape, providing users with an array of convenient and cost-effective financial services. While it offers competitive rates and swift transfers, users should consider potential fees, transfer limits, and fluctuating exchange rates as factors influencing their experience. Revolut remains an attractive choice for those seeking an efficient and modern way to manage and transfer money globally.

We invite you to compare remittance providers using CompareRemit’s comparison tool today to find the best rates, lowest fees, and fastest turnaround times for your specific destination and transfer amount.

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Sending Money To Nepal: eSewa International Money Transfer Service

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And the paycard fees are becoming more transparent and competitive.While paycards can be challenging at times, especially when you are employed in multiple jobs and have a separate paycard with each employer, your funds are scattered in multiple cards so it becomes difficult to manage your finances. Some may prefer to put all their money in one place, like a checking account.However, if you can't open a bank account, a paycard is a great option to get paid. Read the fine prints before signing up for a paycard and know the potential fees that come with it.

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