Revolut Ltd is a UK financial technology company that offers banking services including a pre-paid debit card (Mastercard or Visa), currency exchange, cryptocurrency exchange and peer-to-peer payments. The Revolut mobile app supports spending and ATM withdrawals in 120 currencies and sending in 29 currencies directly from the app. It also provides customers access to cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and XRP by exchanging to or from 25 fiat currencies; however, cryptocurrencies remain locked in the app and cannot be moved to another cryptocurrency wallet.
Revolut currently charges no fees for the majority of its services (but for a capped usage), and uses interbank exchange rates for its currency exchange on weekdays, and charge a markup from 0.5% to 1.5% on weekends.
The Revolut Plus plan is an affordable subscription plan for its users and specially focused on the current COVID-19 pandemic times. It strips off all the benefits associated with travel but introduces purchase protection plans.
In a move to protect customers from any threats, this week Robinhood encouraged users to implement such measures as two-factor authentication.
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