revolut app

Revolut Australia

Revolut offers an everyday account for global fee-free spending. Here’s what you need to know.

Quick verdict

Good for
  • Low-cost money exchanges
  • Free ATM withdrawals
  • Analysing your spending
  • Holding multiple currencies
Not suited for
  • Withdrawing large amounts
  • Earning interest on your savings

What to know about Revolut

Revolut launched in July 2015 and currently has over 3 million customers throughout Europe, the UK and Australia. It offers a range of products focused on travel and spending, but its main product is a transaction account and a card that allows for international transfers and simple global spending.

Product NameRevolut Account
Card TypeVisa
Supported CurrenciesAUD, USD, GBP, CAD, NZD, JPY, CHF, SEK, DKK, NOK, PLN, HUF, RON, TRY, ILS, HKD, SGD, ZAR, MAD, QAR, AED, THB, INR, EUR
Supported DevicesiPhone
Android
International ATM Fee$0
LicensingPartnered with an institution that holds a licence
SupportLive chat

What does Revolut offer in Australia?

Revolut's app and everyday account is currently available for download in Australia.

Revolut Personal Account

The Revolut personal account allows you to spend your money all around the world. When you spend you will be charged the real interbank exchange rate, which is the rate the banks use to buy and sell currency themselves, and you’re also able to make free international ATM withdrawals up to $350 a month on the Standard Account after which a 2% fee applies.

There are two different account options to choose from: Standard and Premium

Standard: $0 per monthPremium: $10.99 per month
Spend in 110+ currencies at the real exchange rateSpend in 110+ currencies at the real exchange rate
Transfer up to $9000 a month between 15 fiat currencies with no exchange feesUnlimited money transfers between 15 fiat currencies
Withdraw up to $350 a month with no ATM fees (after this a 2% fee applies per withdrawal)Withdraw up to $700 a month with no ATM fees (after this a 2% fee applies per withdrawal)
Global express delivery of your Revolut card

What are Revolut's features and benefits?

The following features are on offer from Revolut:

  • Simple spending while overseas. Revolut allows you to spend and transfer money around the world while charging you the real exchange rate. You can also make free international ATM withdrawals up to $350 for the Standard account. Anything above this you will pay a 2% fee.
  • Buy, hold and exchange multiple currencies. You can hold and exchange 24 fiat currencies in your Revolut account.
  • Set up recurring payments. If you have regular payments such as rent, utility bills, credit card bills or anything that isn't automatically direct debited from your account, you can set up recurring payments in Revolut so you don't forget to pay.
  • Send and request money within the app. Revolut allows you to send money as well as request it from your friends directly within your revolut app. You can also attach notes, images and gifs when you ask to get paid or make a payment.
  • User-friendly app. The app is intuitive and you can manage all of your card and account needs in it. It will automatically categorise your spending, send you instant payment notifications and give you a detailed view of your transactions.
  • Security. You can "freeze" and "unfreeze" your card instantly in your Revolut app if it is lost or stolen. You're also able to turn on location-based security, so your card's payments will be blocked if your card is used in a different location to where you are.

Is Revolut right for you?

Not sure if Revolut will suit your needs? Weigh up the following before you sign up for a Revolut account:

Pros

  • Low-cost global spending. You can benefit by spending at the interbank exchange rate globally and withdrawing cash at ATMs around the world with no international ATM fee. You’re also able to transfer money to bank accounts in over 130 countries and save up to 8% by being charged the real exchange rate.
  • Buy, hold, trade and transfer multiple currencies. The account supports 24 fiat currencies. Revolut promises the best possible exchange rate for trading.
  • Analyse and track your spending. Revolut will automatically categorise your transactions and send you instant payment notifications to help you budget.

Cons

  • Card limits. You're only able to make fee-free ATM withdrawals up to $350 per month, after which a 2% fee kicks in. A 0.5% fee also applies to money transfers over $9,000 per month (Standard account).
  • No free express delivery. Free express delivery isn't available on the Standard account, only on the Premium and Metal accounts.
  • No interest earned on savings. Revolut allows users to save money in "Vaults" by rounding up purchases. However, you will not earn any interest by holding money in your Vault.

Is Revolut safe?

Revolut has not released details of its banking licence, but it's using the Australian Financial Services Licence of a yet unnamed bank. This bank will be responsible for your transactions and funds. In terms of safety and security, Revolut offers 24/7 customer service line or use its in-app chat service. You're able to lock and unlock your card if it is lost or stolen and you can also utilise its innovative location-based security feature.

How to sign up for Revolut in Australia

You can join Revolut by clicking through the "Get the App" button on its website. The app is available for download on both Apple and Android devices.

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14 Responses

  1. Default Gravatar
    TonySeptember 26, 2019

    How can I transfer money from my CBA US$ account, to a Revolut US$ account.
    Thanks

    • Avatarfinder Customer Care
      NikkiSeptember 26, 2019Staff

      Hi Tony,

      Thanks for getting in touch! You can transfer money to your accounts in 28 currencies via bank transfer and get started, please contact CBA to know their process on transferring funds from your CBA account to Revolut. You can use your account details so you can transfer money. To find your currency account details.

      1. Head to the Accounts tab
      2. Tap Add a new account and choose your top up currency
      3. You’ll find the account details to make a bank transfer.

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    RoxyAugust 4, 2019

    Hello, if I send money from Revolut Aus to another Revolut account in Europe is it cost any tax?
    Thanks

    • Avatarfinder Customer Care
      NikkiAugust 5, 2019Staff

      Hi Roxy,

      Thanks for getting in touch!

      Sending money to another Revolut app user is free. However, if you make a cross-currency transfer, you’ll be charged 0.5% on any amount exceeding your free foreign exchange allowance. Upgrade to Revolut Premium or Revolut Metal now to have unlimited free foreign exchange allowance and free turbo transfers.

      If the beneficiary bank is located outside the EU or transfer is not in euros, then your transfer will be sent via SWIFT and you might incur international wire transfer fees.

      The beneficiary bank could also charge a fee to receive your transfer. When your money is in transit, it might be processed by an intermediary bank who might also deduct a handling fee. Therefore, the amount received might be less than the amount you sent.

      We can provide an estimate of the potential fees for the following currencies:

      35 AUD
      20 CAD
      50 AED
      16-32 EUR (outside of SEPA)
      7500 JPY
      35 NZD
      20-40 USD

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  3. Default Gravatar
    BarbaraJuly 23, 2019

    Morning! Is this card supported in Russia, Finland, Estonia, Latvia, Lithuania, and Poland?

    • Avatarfinder Customer Care
      JoshuaJuly 23, 2019Staff

      Hi Barbara,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      At the time of this writing, according to Revolut it supports Finland, Estonia, Latvia, Lithuania, and Poland. It doesn’t support Russia.

      Other countries include:

      Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.

      Revolut is currently expanding its reach. So, there might be more countries to be added in the future.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  4. Default Gravatar
    NatMay 23, 2019

    I would like to send money from my commonwealth bank account to my Revolut account with a SWIFT transfer. Does Commonwealth Bank Australia have a direct relationship with Revolut? If not, I believe an intermediary bank(s) will be required and therefore will incur fees.

    • Avatarfinder Customer Care
      NikkiMay 24, 2019Staff

      Hi Nat,

      Thanks for getting in touch with Finder!

      You have the information down to a T! Commonwealth Bank doesn’t have a direct relationship with Revolut however you can send money to your Revolut from your Commonwealth Bank account with a SWIFT transfer and this means there are SWIFT fees incurred for doing the transfer.

      Hope this helps!

      Best,
      Nikki

  5. Default Gravatar
    GregMay 9, 2019

    Is lounge access included in the monthly fee.

    • Avatarfinder Customer Care
      NikkiMay 10, 2019Staff

      Hi Greg,

      Thanks for your inquiry! Revolut has partnered with a lounge access solutions company to create a LoungeKey Pass and give access to over 1,000 business lounges in airports across the globe directly from their Revolut app. The feature allows you to see specific details for each lounge, including photos, WiFi, bar facilities, conference rooms, and opening times.

      The Loung Key Pass is not included in the monthly fee. Lounges is a feature reserved for Revolut Metal and Premium users. While Metal users can order their first single entry LoungeKey Pass free of charge, all other passes can be bought at a flat rate of £25 (or currency equivalent) per pass. Standard customers can start using Lounges as soon as they upgrade to either Premium or Metal.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  6. Default Gravatar
    LucyApril 21, 2019

    I leave Australia tomorrow. Can Revolut deliver the card to an address in France?

    • Avatarfinder Customer Care
      JoshuaApril 22, 2019Staff

      Hi Lucy,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      Yes, it is possible for Revolut to deliver you the card to an address in France. Simply specify where you want it to be sent.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful and safe trip!

      Cheers,
      Joshua

  7. Default Gravatar
    ZetApril 2, 2019

    Is Revolut operating in Australia now?

    • Avatarfinder Customer Care
      JohnApril 3, 2019Staff

      Hi Zet,

      Thank you for reaching out to Finder.

      Yes, Revolut has already been launched in Australia. Revolut’s app and everyday account is currently available for download in Australia. Hope this helps!

      Cheers,
      Reggie

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