What Revolut is and who it suits
Revolut started in London in 2015 and now runs out of its headquarters there. Through one app, you can handle spending accounts, cards, currency exchange, crypto, and also gold and silver. The banking side uses an EU banking licence from the Bank of Lithuania.
If you already use the app for daily payments and want to buy currency, trade crypto, or hold metals in the same place in moderate amounts, you'll likely find it fits. But if you need branch support or plan to do one especially large transfer, a specialist often comes out cheaper. This review's for editorial purposes only, it's not financial advice. GoldexPay may get paid through some of the links here, but that never alters our ranking.
How Revolut's costs work
With Revolut, you won't usually see a standalone fee when you swap currencies. Instead, the price builds in a markup below the mid-market rate, that's the halfway point between buy and sell on the wholesale market. Revolut keeps the difference.
Your plan sets a threshold. Go above it, and the markup gets steeper. And it's higher on weekends regardless of your plan. Crypto and precious metals come with their own spread (that's the gap between buy and sell rates) which can change without warning as the market moves.
No-fee headlines can mislead; sometimes they actually cost you more than a provider with clear charges. Double-check by entering your real amount into the comparison tool above. That way, you'll see what you genuinely receive.
Speed, payment methods and limits
Inside the app, currency exchanges process straight away. If you're sending money to another bank account, there might be a wait. Timing depends on the target bank, which currency you're using, and whether any checks come up.
You can load your account via bank transfer, debit or credit card, Apple Pay, or Google Pay (if your country supports those). Watch for different costs: card top-ups may not match bank transfer pricing.
Limits aren't the same for everyone. Your plan sets them, and crypto or precious metals can have their own. Plus, your country can affect what's open to you. Check what's in the app before taking big steps.
Worked example: a Polish nurse exchanging euros for a trip
Imagine a nurse from Poland who’s moved to Ireland for work, her salary comes in euros, but she’s planning to visit the US for two weeks and needs dollars.
She checks her app first. Her plan's limits matter; she doesn't want to cross them. Since it's cheaper, she arranges the exchange on a weekday, not the weekend.
Just before she confirms, she compares Revolut's rate in the app to the comparison results here, using her actual numbers. She doesn't rely only on the claim of no fee. Instantly, the dollars appear in her app balance.
Three things to stay alert to here: plan limits, weekend markups, and the risk of a second conversion if she spends directly with her card abroad.
Safety and regulation
The Bank of Lithuania supervises Revolut's banking business as license-holder in the EU. You should check the regulator’s register yourself and see which exact Revolut entity and legal terms cover your account.
Regulation does lower risks, but it isn't a full guarantee. Deposit protection only covers eligible cash up to a legal maximum, not crypto, not precious metals, not price drops. Always set up app lock and two-step authentication for your account. If you get an unexpected call or message asking you to move funds, treat this as a scam. Your provider shouldn’t ever need your password or single-use codes.
Pros, cons and when an alternative fits better
Pros
- Instant currency exchange through the app.
- Lower markup rates during weekdays versus weekends.
- Crypto, gold, and silver tracked right alongside your accounts.
- EU banking licence held, regulated by the Bank of Lithuania.
Cons
- Higher markups both above plan limits and during weekends.
- Total costs blended into rates, so no-fee claims require checking.
- Crypto and metals can drop sharply in price, so you may lose money.
- Features and allowances can shift based on country and the plan you’re on.
If you want plain fees and need to send money abroad regularly, Wise centers on transparency. When you're moving a single large amount, OFX specializes and is worth getting a quote from. If trading crypto or European precious metals is your priority, you might prefer Bitpanda.