Revolut is one of the first fin-techs to offer a multi-currency debit card perfect for travelers. With over 60 million customers and 4 plans ranging from $0 to $28.99 per month, Revolut gives you foreign currency payments, an Australian-friendly account setup, a powerful app, and no-fee ATM withdrawals up to $1,400 per month.
- Key things to know about Revolut
- UK-based mobile financial app launched in 2015, now a global leader in digital financial service with over 60 million customers,
- No income requirements for opening a Standard account (minimum deposit around $15 AUD),
- No-fee international exchange and ATM withdrawals up to your plan limits, then 2% fees apply,
- 100% online finance through an easy-to-use app packed with features,
- Highlights: local transaction account details, spending categorization, multi-currency wallets, accounts for kids & teens, and loyalty points.
💳 Revolut bank cards
Details:
- Standard Mastercard, with no income requirements
- Debit: immediate
- Initial deposit: $10
- Withdrawals inside Eurozone: no-fee and unlimited
- Withdrawals outside Eurozone: 5 no-fee withdrawals or up to $350/month, then 0.5% fee
- Currency exchange up to $2,000 no-ffee monthly
- No overdraft allowed
Advantages: No income requirements, no-fee currency exchange up to $2,000
Disadvantages: Virtual card only, card delivery fee applies (+$7), fees on withdrawals beyond $350/month
Details:
- Standard Mastercard with no income requirements
- Debit: immediate
- No initial deposit required
- Withdrawals inside Eurozone: no-fee and unlimited
- Withdrawals outside Eurozone: no-fee up to $350/month, then 2% fee
- Currency exchange up to $6,000 no-fee monthly
- Includes purchase protection and travel insurance
Advantages: No income requirements, no-fee currency exchange up to $6,000, purchase and ticket protection insurance
Disadvantages: Requires authorization on transactions, withdrawal fees beyond $350/month
Details:
- Standard Mastercard with no income requirements
- Debit: immediate
- Initial deposit: $10
- Withdrawals inside Eurozone: no-fee and unlimited
- Withdrawals outside Eurozone: no-fee up to $700/month, then 2% fee
- Unlimited no-fee currency exchange
- Includes travel medical insurance and airport lounge access
Advantages: No income requirements, no-fee currency exchange, travel insurance included
Disadvantages: No fee ATM withdrawal limits at $700/month
Revolut cards offer several solutions tailored for user profiles, with no income requirements, ideal for payments and withdrawals abroad, and different levels of coverage and insurance depending on the plan.
Standard Revolut’s entry-level Mastercard or Visa card is accessible with no income requirements after an initial deposit of $10 AUD. Payments incur no fees in Australia and overseas up to $2,000 AUD per month in foreign currencies (beyond which a 1% currency conversion fee applies). Withdrawals are included up to $350 AUD or 5 withdrawals per month (then 2% fee). No insurance coverage is included.
Plus For $5.99 AUD per month, the customizable Visa or Mastercard offers the same payment limits ($3,000 AUD per month in foreign currencies) and withdrawal limits ($350 AUD or 5 withdrawals per month, then 2% fee) as the Standard, with no income requirements. It includes purchase insurance (up to $1,000 AUD per year) and ticket cancellation protection for bookings made with this card.
Premium Offered at $9.99 AUD per month, the Revolut Visa or Mastercard has no income requirements, provides unlimited foreign currency payments, and includes $700 AUD in no-fee monthly withdrawals (beyond which 2% fees apply). It also includes travel insurance and access to discounted airport lounges.
Metal At $24.99 AUD per month, the Metal Visa or Mastercard offers unlimited payments and up to $1,400 AUD in monthly withdrawals (2% fee applies thereafter) with no income requirements. Coverage includes international medical insurance, car rental excess protection, winter sports insurance, and baggage cover.
🎁 Revolut Referral Offer
The Revolut referral program allows the referrer to receive a reward for each friend who opens an account through their link and meets the conditions. This offer is limited and the requirements for the referred friend are: open an account, order a card, and make the required payments using the invitation.
💰 Revolut Fees
Revolut impresses with its highly competitive fees and an ideal policy for payments and withdrawals abroad. With its "multi-currency no-fee" offers, it stands out as one of the best solutions on the market for worry-free travel!
| Card Type | Card Price | Regular Fees | International Fees | Monthly Inactivity Fees | Overdraft |
|---|---|---|---|---|---|
| Standard | $0 (excluding delivery fees) | None | No-fee exchange worldwide No-fee withdrawals up to $350 AUD or 5 withdrawals per month, then 2% fee | None | No overdraft allowed |
| Plus | $5.99 / month | None | No-fee exchange up to $3,000 AUD per month in foreign currencies, then 1% fee No-fee withdrawals up to $350 AUD per month, then 2% fee | None | No overdraft allowed |
| Premium | $9.99 / month | None | Unlimited No-fee exchange and withdrawals abroad up to $700 AUD per month, then 2% fee | None | No overdraft allowed |
| Metal | $24.99 / month | None | Unlimited No-fee exchange and withdrawals abroad up to $1,400 AUD per month, then 2% fee | None | No overdraft allowed |
Fees obtained from the official Revolut website in 2025.
How to open a Revolut account?
- Download the Revolut app on your smartphone to open a Revolut account.
- Fill in the online form with your personal information.
- Complete KYC Checks
- Choose the Revolut plan that fits your needs during registration.
- Make an initial deposit of $10 AUD to activate your new Revolut account.
- Your account is activated immediately, and you can order your physical debit card or use a virtual card
🔎 Overview of Revolut
Revolut is a 100% mobile fin-tech focused on simplicity, transparent fees, and low-cost currency exchange. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, it offers a multi-currency card, an Australian IBAN equivalent (since 18/05/2022), and a feature-rich app with budgeting, sub-accounts, card locking, and investments. It operates in 31 countries and is used by over 60 million customers, appealing to travelers and active users who want hassle-free currency payments.
Originally launched as a currency exchange fintech, Revolut quickly expanded its offerings: app and website rollouts in English and other languages since 2017, banking license in Lithuania (2018), and got a European passport via its subsidiary in 2020. The same year, it expanded to Japan, United States, Brazil, New Zealand, and Australia. This trajectory reflects a clear ambition: to make financial services global, simple, and affordable.
💬 Frequently Asked Questions About Revolut
Can I deposit a cheque into my Revolut account?
You may wonder if it’s possible to do a cheque deposit with Revolut. As of now, Revolut does not support cheque deposits—neither through the app nor by mail—unlike some traditional banks.
To cash a cheque made payable to you, you’ll need to deposit it at a different institution that accepts cheques and then transfer the funds to your Revolut account. Stay tuned: this feature may be added in the future but isn’t available yet.
How do I close my Revolut account?
IMPORTANT BEFORE CLOSING YOUR ACCOUNT Before closing your Revolut account, open an account at a different institution to transfer your funds, list and notify entities for any recurring payments (payroll, subscriptions, etc.), and keep your existing account open for a few weeks to ensure all transactions clear. Once confirmed, proceed to close your Revolut account.
- Open the Revolut app and tap your profile icon (top left).
- Select “Account”.
- Tap “Close account” to confirm account closure.
Revolut will first offer to downgrade you to the Standard account. To fully close your account, confirm the request in the app. The process is fast, fully online, and requires no paper mail!
Can I pay in instalments with Revolut?
Instalment payments with Revolut are not available in Australia. However, this option is offered to some Revolut customers in Ireland, Poland and Spain. If you reside in one of these countries, check your payment methods eligibility in the app during checkout.
Where is Revolut from?
Revolut is a UK-based fintech company operating in Europe under a Lithuanian banking licence. It is eligible to open accounts in this list of regions:
- Australia
- Brazil
- European Economic Area (EEA)
- Japan
- New Zealand
- Singapore
- Switzerland
- United Kingdom
- United States
- Mexico
- French overseas territories
