Revolut Business Core Features
Revolut is a banking solution that takes all your financial troubles entirely online. Don’t worry about your bank’s opening times. Revolut is always open. Moreover, manage everything from your phone. The best part is that you can exchange money with 28 different countries without incurring conversion fees.
Revolut Business Strengths
Where does Revolut Business shine?
Multiple Currencies
Revolut’s biggest and best feature is the ability to make transactions in multiple currencies. Exchange rates are very competitive. You can exchange your money into another currency and hold it, or you can pay in other currencies. In addition, users can open local accounts in international currencies.
The flexibility enables businesses to take complete control over their money.
Third-Party Integrations
Connect your Revolut account with multiple third parties. Supported integrations include Slack, FreeAgent, Xero, and more.
Flexible Internet Banking
Access your account from wherever you are. All you need is a mobile device and internet connection to start taking control of your funds. For example, users can manage their payroll while halfway across the world. Then use the same account to make transactions internationally.
Moreover, companies with business accounts get access to 24/7 support. Whatever the time, you can ensure your money is safe wherever you are.
Employee Business Cards
Business accounts come with prepaid debit cards. These cards can be by team members’ business expense cards. Subsequently, broaden your organization’s prospects. Ensure freedom and responsibility within your team.
However, withdrawing funds often incurs fees. On the other hand, card payments are free.
Additional Features
That’s not all. Revolut Business accounts are teeming with premium features:
- You can make bulk transactions to save time and effort.
- Revolut offers expense management tools. Use these resources to help control your finances.
- Premium members can access third-party perks, including Slack, Google Ads, and Apple discounts.
Revolut Business Weaknesses
Entrusting your money to others is a significant decision. What makes Revolut Business trustworthy? What weaknesses should you watch out for?
Restricted Direct Debits
Revolut is primarily based in Europe and the UK. Therefore, many features are unavailable to users outside of these areas. For example, you cannot access direct debits unless you are local to Europe.
Withdrawal Limits
Watch out for monthly and daily withdrawal fees. Monthly, you can only withdraw 100,000 GBP (or equivalent currency). Daily, you can only withdraw 3,000 GBP. For many, this is not a significant issue. However, it’s worth remembering that withdrawals above the limit incur 2% charges.
Suitable For Your Business?
Revolut Business is ideal for any company with regular international dealings. If you travel abroad a lot or have a global client base, it’s worth considering. You can start for free and upgrade as you scale with their different price plans. Therefore, Revolut Business is a banking option you can rely on.
Plus, they offer freelancer plans for individuals and sole traders. If you’re a small to medium business, why not get started today and take control of your money?
