We all need to spend money when we travel. That usually comes with several fees and sometimes even a few problems. But there is a simple way to minimize these issues – by using Revolut, one of the leading online banking solutions.
Many of Revolut’s features are specifically intended for travelers. You can check their pricing plans and sign up for an account here.
Below you will get an overview of all the benefits Revolut has to offer.
About the review
This article is not sponsored. We acquired Revolut’s Metal Plan and compared it to other banking solutions. The Metal Plan is the best and highest priced subscription on Revolut. The price depends on your home country, but in the UK it costs £13 per month and in Germany it costs €14 per month. That should give you an idea.
The Metal Plan gives you a metal credit card, additional plastic cards if needed, and you get the highest limits and minimal fees on cash outs, currency exchange, insurance, etc.
Revolut also has other solutions. The free one is called “Standard”. Then there is the affordably priced “Plus”, the mid-range “Premium” and then again the top-end “Metal”.
Below, you can read about the best features of having an account with Revolut…
Easy currency exchange
Within the Revolut app, you can exchange between major currencies. So whenever you go somewhere new, you can set your account to whatever currency is used in that country.
Even if you don’t set any other currencies than your own, Revolut will automatically do the exchange whenever you use your card in a foreign country.
With the Standard and Plus subscriptions, you can exchange currencies for free until you reach 1000 GBP in any given month. The limit is reset the following month. With the Premium and Metal subscriptions, you can exchange currencies free of charge and completely without limits!
On top of the ability to exchange between regular currencies such as USD, EUR, GBR, SEK, DKK and many others, you can also exchange into crypto currencies such as Bitcoin and Ethereum.
Ability to pay everywhere
When you sign up with Revolut, you get a debit card. It can be either a VISA or a MasterCard, depending on availability.
The card will be included if you get one of the premium services (and usually you will receive it within just a few days), or it will come at a small price if you have the free Revolut subscription.
You can use this card everywhere as you travel. It has the contactless chip and it gets activated when you use it in a store for the first time. You can select the PIN code yourself. Fees are not charged when you use the card in shops and restaurants, even abroad.
Having an additional card is a major benefit when you travel. You likely have a credit card with your regular bank already. If you also get a Revolut debit card, you essentially get some extra security in case you lose one of them – and the Revolut card will often have much lower fees, if any.
Cash out money abroad – without fees!
Cashing out money in ATMs can be expensive abroad. This is where Revolut offers one of the main benefits. You get the ability to cash out money in ATMs without any fees. Standard and Plus users can cash out up to 200 GBP per month without incurring any fees, Premium users can cash out double the amount without fees, and Metal users have even higher limits.
This is super useful since traditional banks charge huge fees. Not only are their exchange rates bad – they will often charge you money for simply using your card in a foreign ATM. So get started with Revolut, and avoid those huge ATM fees at home and abroad!
Get cashback on every-day purchases
If you go for the Metal subscription, you even get a card with a cashback. So every time you pay for something with your card, you get a little bit back on your account.
The cashback is typically 0.1% within Europe and 1% when you use it outside of Europe. Relatively little, but it can add up after a while, and it is certainly better than nothing.
Get cashback on hotel bookings
In the Revolut application, it is possible to book hotels and other types of accommodation.
The prices there are quite good, and booking is easy. Payment is simply charged from your Revolut account. You can book hotels all over the world through Revolut’s app.
But the best part is that you get a solid cashback when booking accommodation. Sometimes even up to 10%. The average cashback seems to be around 7.5%. So if you travel a lot, and you’d like to get a cashback on your bookings, Revolut should certainly be used.
Lounge access in various airports
With the Premium and Metal subscriptions, you get free lounge access if your flight is more than an hour delayed. This is quite nice. Nothing is more annoying than a delayed flight, so as a Revolut user, you at least get to spend the prolonged time in a nice lounge.
The Revolut app also lets you reserve lounge access in various airports in advance – often for a small fee between 20 and 40 USD/EUR/GBP depending on the location.
This is often worth it since lounges are more pleasant than other airport areas. They are calm and they offer free refreshments and snacks once you have entered. Many lounges only give access to certain credit card holders, and if you have one of the high-end subscriptions at Revolut, you are one of the few who can book lounge access in advance.
Top up easily
Using Revolut is easy. You can control everything from the mobile app. When you need to insert money into your Revolut account, you can use the ‘top up’ function. You simply use your regular credit/debit card that you have with your traditional bank, and within the app you make a payment to Revolut – the money will immediately be transferred to your Revolut account.
Some banks, for whatever reason, block card transactions to Revolut. In this case you can make a bank transfer to your Revolut account instead. When you sign up with Revolut, you get a full IBAN number where you can receive money from any international bank. It will take longer than using the card top up, but it works just as well, and it is an alternative way to fund your account.