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Revolut international money transfer review

  • Tim Falk's headshot
Edited by David Gregory
Revolut
Number of Currencies
25+
Minimum Transfer Amount
$1
Pay By
Bank transfer, Debit card
Fees (Pay by Bank Transfer)
$0

Our verdict

Revolut offers easy money transfers at very competitive exchange rates, but make sure to check for fees and your plan’s limits.

Founded in 2015, UK-based Revolut has made a name for itself with its suite of money management services and travel money solutions. Arriving in Australia in 2019, Revolut offers international transfers in over 30 currencies.

It's dead easy to send money from the Revolut app, and there are no exchange rate markups when you convert currencies during exchange market hours. But be aware that fees apply, and the plan you select affects how much money you can send.

In this guide

  • Our verdict
  • Details
    • Product details
  • Frequently asked questions
  • Your reviews
  • Ask a question

Details

Product details

Product Name Revolut
Pay By Bank transfer, Debit card
Receiving Options Bank account, Mobile wallet
Customer Service Live chat
Maximum Transfer Amount Unlimited
Number of Currencies 25+

What do Australians think of Revolut international money transfer brand?

  • 4.44/5 overall for Customer Satisfaction — higher than the average of 4.35
  • 4.64/5 for Trust — lower than the average of 4.69
  • 4.41/5 for Customer Service — higher than the average of 4.31

Based on Revolut international money transfer brand scores in Finder's 2024 Customer Satisfaction Awards.

Why should I consider using Revolut

  • Great user experience. The app is as user-friendly as they come. Exchanging currencies and sending international transfers is quick and easy through the Android or iOS app.
  • Get the real exchange rate (most of the time). When you exchange currency during market hours, you can take advantage of the mid-market rate. However, a markup applies outside of these hours.
  • No maximum limit on most currencies. There is no transfer limit on most major currencies but other limits may apply depending on your plan.
  • Revolut card. When you sign up for any Revolut plan, you get a debit card that's linked to your account. The Revolut card lets you spend in over 150 currencies around the world, while you can also get a virtual card to use for online and in-app purchases.
  • Other money management services. Signing up for a Revolut plan also allows you to access features such as investment services, bill splitting, budgeting tools, and more.

What to be aware of

  • Exchange rate markups on weekends. Currency conversions made between Friday 5pm (New York time) and Sunday 6pm (New York time) attract a 1% fee.
  • Fees apply. As outlined in the costs section below, you'll need to pay a fee when you send an overseas currency transfer. The fee is calculated as a percentage of your transaction amount and varies depending on the plan you choose and the currency you send. The percentage is highest on the Standard plan, so Standard members will typically be best served using Revolut for smaller transfer amounts only.
  • Plan limits apply. If you select a Standard plan, the maximum amount of currency you can convert fee-free during market hours is $2,000 a month.
  • App only. You can contact Revolut customer support via in-app chat or an automated phone service. So if you're the type of person who likes to have the option of talking to a real person on the phone or visiting a branch, this is a drawback of Revolut's financial products.
Piyush P's headshot

"For someone who has family and friends living in different corners of the world, Revolut has made instant money transfers with competitive pricing easier. The app is easy to use and offers a host of features, making it a good everyday account as well. The in-app messaging service while transferring money gives a personalised touch."

Piyush P
Finder crew member

Customer reviews and complaints

As of October 2023, Revolut has an average rating of 4.3/5 from over 143,000 reviews on Trustpilot. Those who left positive reviews praise Revolut for its ease of use and for offering fair exchange rates. However, customers who gave negative ratings sometimes complain about disappointing live chat customer service.

Is Revolut safe to use for international money transfers?

Revolut is a legit provider and is headquartered in London. It serves over 200 countries and has more than 25 million customers around the world.

In terms of regulation here in Australia, Revolut holds an Australian Financial Services Licence and is authorised by the Australian Securities & Investments Commission. Revolut Australia is also regulated by Australian Transaction Reports and Analysis Centre (AUSTRAC) and is listed on the AUSTRAC Remittance Sector Register.

Revolut's plans and pricing

When you sign up for Revolut you have 3 pricing options:

  • Standard: $0
  • Premium: $9.99
  • Metal: $24.99

Standard

With the standard plan you pay no monthly fee. You can make fee-free ATM withdrawals up to $350 a month.

You can spend money internationally up to $2,000 a month and get online shopping protection.

Premium

With the premium plan you pay $9.99 a month. You can make fee-free ATM withdrawals up to $700 a month.

You can spend money internationally up to $20,000 a month and get online shopping protection.

You can also make 5 commission-free stock trades per month, get 24/7 customer support and a 60% discount on international fees.

Metal

With the premium plan you pay $24.99 a month. You can make fee-free ATM withdrawals up to $1,400 a month.

You can spend money internationally with no limit and get online shopping protection.

You can also make 10 commission-free stock trades per month, get 24/7 customer support and an 80% discount on international fees.

How to make an international transfer with Revolut

Follow these steps to send an overseas transfer with Revolut:
AU Revolut app screenshot showing how to create a new international payee

  1. Download the Revolut app on your Android smartphone or iPhone.
  2. Sign up for an account by providing your name, address, email address, proof of ID and a selfie.
  3. Use your card or bank account to add money to your Revolut account.
  4. In the Revolut app, choose the wallet you want to transfer from and tap "Transfer".
  5. Choose "Send International".
  6. Choose your destination country and currency.
  7. Enter your transfer amount and then review the exchange rate and any fees that will apply. If you're happy with what you see, tap "Continue".
  8. Enter your recipient's details. You'll usually need to provide their name, bank account number and bank code. Confirm your transfer.

How much does Revolut charge for international transfers?

You can get the mid-market exchange rate on currency exchanges during exchange market hours — roughly Monday to Friday. However, exchanges made outside market hours, which means between Friday 5pm (New York time) and Sunday 6pm (New York time), attract a 1% fee.

The next thing you need to consider when calculating the cost of Revolut money transfers is the provider's monthly membership fee. There's no fee if you're on a Standard plan, but you're limited to transferring $2,000 per month without exchange fees. Above this $2,000 limit, a 0.5% fee applies. You get a higher monthly transfer limit with Premium and Metal plans, but you'll need to pay a monthly fee.

StandardPremiumMetal
Monthly fee$0$9.99 / month$24.99 / month
Currency exchange limit$2,000 / month$20,000 / monthUnlimited

Finally, you'll also need to consider Revolut's currency transfer fee. When you're sending an international transfer in the recipient's local currency — for example, if you're sending GBP to the UK — a percentage fee applies. The fee amount varies depending on the currency being sent and the plan you select, so check the table below for examples.

Recipient currencyStandard plan fee (minimum and maximum limits)Premium plan fee (minimum and maximum limits)Metal plan fee (minimum and maximum limits)
EUR0.30% ($0.50-$45)0.12% ($0.20-$18)0.06% ($0.10-$9)
GBP0.30% ($0.50-$45)0.12% ($0.20-$18)0.06% ($0.10-$9)
INR0.35% ($0.50-$895)0.14% ($0.20-$358)0.07% ($0.10-$179)
NZD0.30% ($0.50-$45)0.12% ($0.20-$18)0.06% ($0.10-$9)
PHP0.35% ($0.90-$895)0.14% ($0.36-$358)0.07% ($0.18-$179)
THB0.40% ($0.90-$179)0.16% ($0.36-$71.60)0.08% ($0.18-$35.80)
USD0.30% ($0.50-$45)0.12% ($0.20-$18)0.06% ($0.10-$9)

Alternatives

There are several other alternatives money transfer providers you should consider before deciding if Revolut is right for you.

One popular company is Wise, which offers transfers to over 75 countries around the world. Like Revolut, Wise offers the mid-market rate, while its fees vary depending on the currency you send (starting from 0.41%).

So, which is better? It depends — on the size of your transfer, where you're sending money, and what Revolut plan you select. Revolut's fees are generally lower, but Wise has much higher transfer limits and it's free to open an account.

For example, assuming you have a Standard Revolut plan, sending $1,000 to the UK, your recipient will get £2.32 more. But if you want to send a large transfer, Revolut's fee-free transfer limits on Standard plans could make Wise a more cost-effective option. Calculate the cost of your transfer with each company to find the best deal.

How does Revolut compare to other money transfer services?

1 - 25 of 26
Name Product AUFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Revolut
Within minutes
$0
Sign up and get a AUD$15 top-up. For new customers only. T&Cs apply.
Send money with great rates and low fees in 25+ currencies. Plan fees apply.
Instarem
Within minutes
From 0%
Get zero fees on your first transfer to India, Malaysia, Thailand, Nepal, the Philippines, the US and the UK. T&Cs apply.
50% off transfer fees on your first transfer to all other destinations with minimum transfer of $200 and maximum of $7,999.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Airwallex
Within minutes
$0
Earn 10% cashback on your first $1,000 USD equivalent in eligible international card spend with Airwallex.
Streamline global payments across 150+ countries with fast settlements and competitive rates in over 60 currencies.
Xe Business Transfers
Within minutes
$0

Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
24 hours
$0
New customers registering in October 2024 can receive lower pricing on exchange rates. T&Cs apply.
Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Wise (TransferWise)
Best Rated Brand
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Remitly
Best Rated Brand
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
SingX
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Send Payments
Send Payments
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Qantas Business Money
Within minutes
$0
Earn up to 125,000 bonus Qantas Points on your first currency conversion by 31 October 2024. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
Revolut Business
Within minutes
$0
Revolut allows your business to move money around the world quickly and cheaply with 25+ currencies and no maximum limit transfers. Plan fees apply.
OFX Business Transfers
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
WorldFirst
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Send business
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
CurrencyFair
Within minutes
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Western Union
Within minutes
From $0
Get Western Union's best exchange rate and $0 fee on your first online transfer.
Western Union sends money online to 200+ countries, with competitive rates for new customers.
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Verdict

If you're searching for simple and affordable money transfers, Revolut is well worth a look. It's easy to use and offers very competitive rates and fees. However, the different membership tiers and fee structures it offers can be a bit confusing, so make sure the limits of your Revolut plan suit your needs.

Ultimately, be sure to compare Revolut with a range of other money transfer companies to find the right money transfer service that's right for you.

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