free payment account with credit card via handy app

There is a lot of choice in the range of banks and providers. The Revolut bank appeals to a different segment and lets you manage your finances via an app. What can you do with Revolut, and is it really all free?

Revolution

ING, Rabobank, SNS bank… all names you hear passing by today. There are also a number of smaller banks and a series of new entrants. A bank that is gaining ground is Revolut. This bank is located in Lithuania and also falls under the Lithuanian guarantee system, which is comparable to that of the Dutch one. Your money is thus covered up to 100,000 euros. The bank now has more than 25 million customers.

I’ve had Revolut for a few weeks now. Not as a replacement for my account at a Dutch bank, but in addition. I do all payments with my own bank, but Revolut is a nice addition to this. If you often travel abroad, then using Revolut can pay off. Especially if you travel to a country where they do not have a euro, such as Sweden, Norway or the United Kingdom. With every transaction you will then have to deal with a rate surcharge and sometimes other additional costs. This works differently at Revolut and it can pay off. First of all, the account is free to create. However, with different plans you can opt for even more benefits and, for example, a physical bank card made of metal, but you do not have to.

Exchange rates and abroad

Revolut lets you send and receive money in over 30 currencies. You can add friends in the Revolut app, to whom you can make a transfer directly at no extra cost. You can also set that others can find you through a set username. In addition, you can exchange unlimited foreign currencies from Monday to Friday at no extra cost. With the free package, this is up to a maximum of 1000 euros per month. In this way you can, for example, convert part of your wallet in Revolut to dollars, Swedish kronor, or another currency without extra costs charged by Dutch banks. This can also be very interesting if you have to pay a bill in a different currency (such as a traffic fine). You then save on the costs of your own bank if you do this via Revolut from a jar with the chosen currency.

Credit card

Another advantage of Revolut is that you get a real account number. With this you can make payments, but also receive payments, as you are used to from your own bank. You can also manage cards in the Revolut app. By default you have a virtual card, which is also a credit card. You cannot be overdrawn with this, but it uses the balance of your bank account. If you have a physical card, it has a different credit card number, but uses the same jar.

Applying for a physical card costs 7.99 euros once, although it is free with some payment packages. With the card, for example, you can make convenient contactless payments. It is handy that you can create a virtual disposable card, so that you can safely use a credit card once, without running the risk of being hacked. You can see which payments and credits have been made for each card. All cards in your Revolut account can also be added to Apple Pay or Google Pay, making mobile payment with your Revolut card very easy.

Insight

You have a good insight into what happens on the account. You can use the graphs and statistics in the Revolut app for this. You can also help yourself set a budget. With different payments, the app recognizes what kind of store / category this is, for example, expenses at different supermarkets are easily bundled into groceries. You also have the option to split a payment with others. If you want to add money to your Revolut account, this is very easy to do using the account number. Despite the fact that this is a Lithuanian IBAN number, a payment from ING to Revolut was processed within one hour. You can indicate in the app that you will immediately receive a notification of every transaction that is made.

Charities

A nice feature in Revolut is that you can also donate to charities. You can do this in different ways. Consider donating periodically, but also rounding up your change. By completing this, a little goes to the self-chosen charity. If you want to donate a little more, you can set up the change accelerator with which the amount of the change can be doubled or tripled, for example.

Packages

For example, with more expensive packages you get cashback on payments you make. Accounts can also be set up for people under 18, such as for your child. Revolut gives you the option of theft, ticket and refund coverage with paid plans. You can also opt for insurance for certain things that come in handy while traveling with the most expensive packages. Other options in the app include investing, working with crypto and the like. You can find those options in the Revolut Hub.

Download and sign up

If you want to get started with Revolut yourself, you can use the service free of charge. Of course, some information is required when registering. Then the party can begin. In the app itself you can choose other themes or the Pride style. Festive animations are shown on public holidays. You can sign up for Revolut here.