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.
Financial market shows a constant growth. Traditional payments are being replaced by FinTech innovations. Let’s find out what top European financial companies will define the outlook of the market in 2020.
Revolut has introduced a new money management product for children. It is called “Revolut Junior” and is aimed at children aged 7-17 years.
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