Concept
Revolut — British fintech group founded in 2015. Key difference from most neobanks — Revolut holds full banking licences, and two of them matter for Revolut Business: Revolut Bank UAB in Lithuania received a specialised bank licence from the ECB in December 2018 and a full banking licence in December 2021 (with EU-passport across all 27 countries, deposit insurance up to €100,000), and Revolut Bank UK Ltd received a British banking licence from the PRA in 2024 with restrictions (mobilisation transitional regime) and on 11 March 2026 exited this regime as a fully licensed bank for retail and business customers — with the right to lend and enter the full UK retail banking market. The group also runs licensed banks in Mexico and, since July 2026, Australia; in August 2026 Revolut Bank S.A. in France received an ECB banking licence and will progressively serve customers starting with France, then Germany, Ireland, Italy, Portugal and Spain, while Revolut Bank UAB remains the hub for the rest of the EEA — an EEA business should check which of the two banks holds its account. Retail base in Britain — 13 million clients; group valuation — $75 billion (as of 2025), one of Europe's most valuable private tech companies. In Asia — Revolut Technologies Singapore Pte. Ltd., licensed by MAS as a Major Payment Institution (licence PS20200326). According to Revolut, its retail customer base passed 65 million in 2025 and the group had more than 75 million customers by July 2026; business clients number over 500,000.
What Revolut Business does
- Multi-currency account in 25+ currencies: GBP, EUR, USD, CHF, JPY, AUD, CAD, SGD, HKD, AED, PLN, CZK, RON, NZD, ZAR, SEK, NOK, DKK and others. Local details for GBP (UK sort code), EUR (SEPA IBAN), USD (US ACH), CHF.
- Currency exchange at the interbank rate within the plan's monthly allowance (on the UK price list: £1,000 on Basic, £15,000 on Grow, £60,000 on Scale); 0.6% above the allowance and 1% outside market hours.
- Local payments in 30+ currency zones (SEPA, Faster Payments, Bacs, SWIFT) and local rails in 30+ countries.
- Corporate Visa and Mastercard cards: virtual/physical issuance, multi-currency, auto-conversion at mid-market rate, limits, roles, freeze. Apple Pay / Google Pay.
- Expense management. Automatic receipt collection, OCR, ERP integrations (Xero, QuickBooks, NetSuite, FreeAgent, Sage), approval workflows.
- Invoicing. Issuing invoices to clients, accepting payment through Revolut Pay (instant link).
- API. Integrations, bulk payouts, recurring payments, Open Banking. For developers.
- Revolut Reader. mPOS terminal for offline card acceptance (UK, EU, US).
- Tariffs. On the UK price list: Basic (from £10/month) / Grow (from £30/month) / Scale (from £90/month) / Enterprise (custom); the EEA list uses the same amounts in euros. Different FX limits, free transfers, expense management.
Application
UK / EU SME with banking status and FSCS or EU deposit-guarantee protection
Classic Revolut Business use case. A British or European SME focused on its product wants a banking account with low fees and multi-currency services. Eligible deposits held with Revolut Bank UK Ltd can receive FSCS protection up to £120,000 (the limit since 1 December 2025; previously £85,000), subject to the scheme's aggregation rules and exclusions and after the account has transitioned to that bank. Eligible deposits held with Revolut Bank UAB are covered by the Lithuanian deposit insurance scheme up to €100,000, subject to its rules. Confirm the actual account entity and business eligibility; deposit insurance differs from safeguarding used by providers such as Wise and Airwallex.
Singapore Pte. Ltd. with regional business
Singapore Pte. Ltd. with APAC operations. Revolut Technologies Singapore Pte. Ltd. provides local details in SGD, USD, GBP, EUR, AUD, HKD. PayNow + DBS integration. Weaker than Aspire in local spend management, but stronger in international FX and brand recognition.
Company with team and distributed expenses
Revolut corporate cards — strong side. Fast issuance, virtual + physical, transparent limits, mobile app for each employee, expense reports on autopilot. Apple Pay/Google Pay out of the box. For team of 10–50 people with clear expenses on travel, advertising, subscriptions — this wins over competitors on brand and user experience.
Freelancer / solo-entrepreneur in EU/UK
UK Ltd or EU GmbH for one freelancer. Revolut Business Basic or Grow provides banking account with local details, cards, app. For this profile Revolut is often better than Wise if banking status matters, and equal to Wise if cheapest FX matters.
Mandatory company requirements
- Jurisdiction. Revolut Business accepts companies from UK, EEA-30 (including Mainland EU + EFTA), Switzerland, US (selectively), Australia, Singapore, Japan, New Zealand. Offshores BVI/Seychelles/Marshall — rejection.
- Clear business model. Description + website + client base.
- Clean structure. Standard list for banking onboarding: incorporation documents, passports, proof of address, biometrics in app.
- Sanctions and provider restrictions. Check the servicing entity's current requirements for the company, its owners, users and counterparties; do not infer an outcome from citizenship alone.
Account opening: stages and timing
- Preparation. Incorporation documents, passports, business description. 1–2 business days.
- Submission. In the client cabinet with video verification on a smartphone; multi-jurisdiction structures and UBOs from different countries go to manual review.
- Compliance review. Fast for clean profiles (minutes/hours), manual for complex (1–7 days).
- Activation. Details in 25+ currencies, card issuance — same day in app.
Total timeframe for a clean profile — 1–5 business days. Complex multi-jurisdiction — 2–3 weeks.
Residence, nationality and eligibility
Not suitable for
- Teams that need access for users resident in Russia or Belarus: Revolut lists those countries as unsupported for team-member invitations.
- Offshores BVI/Seychelles/Marshall. Rejection.
- Crypto exchanges, brokers and on/off-ramps. Revolut operates retail crypto services itself, but its unsupported-industries list excludes crypto exchanges, brokers and dealers, fiat-to-crypto on- and off-ramps, crypto ATM operators and ICO issuers; some other crypto-related firms, such as wallet providers and blockchain technology companies, can be accepted.
- Gambling, adult content, weapons, dual-use. Prohibited.
- Trade finance, L/C, bank guarantees. Revolut does not issue, despite banking status.
- Holding large capital in retail bank. Banking protection applies up to £120,000 / €100,000. For capital from $500,000 — private bank (Personal account abroad).
Q/A
Does Revolut Business open accounts for Russians?
A Russian passport alone is not enough to determine the result. Check the company's supported jurisdiction, the applicant's actual residence and current identity requirements. Revolut's published team-member rules restrict invitations to users resident in Russia and Belarus; this is separate from the assessment of a Russian citizen living elsewhere. Approval depends on the exact profile and applicable restrictions.
How does Revolut differ from Wise and Airwallex?
Revolut has banking entities in the UK and EU, but protection depends on the entity and product holding the funds. Eligible deposits held with Revolut Bank UK Ltd can be covered by FSCS after the Business account has transitioned to that bank; eligible deposits held with Revolut Bank UAB fall under the Lithuanian deposit insurance scheme. Each scheme has limits and exclusions. Safeguarding, as used for e-money accounts, is a different mechanism. Eligibility and compliance must also be assessed for the company and relevant people; banking status does not establish a universal nationality rule.
How long does opening take?
On clean UK/EU profile — 1–2 business days. On complex multi-jurisdiction — 2–3 weeks.
What about deposit insurance?
Check the servicing entity, product and business eligibility. Eligible deposits held with Revolut Bank UK Ltd can be protected by FSCS after the account has transitioned to that bank, up to £120,000 under the scheme's aggregation rules and exclusions; the limit rose from £85,000 on 1 December 2025. Eligible deposits held with Revolut Bank UAB are covered by Lithuanian deposit insurance up to €100,000, subject to its rules. For Singapore clients served by Revolut Technologies Singapore Pte. Ltd., the mechanism is safeguarding under MAS, not SDIC deposit insurance: the entity is a payment institution, not a bank.
Does Revolut file CRS / FATCA reports?
Yes. As UK PRA-licensed bank + EU ECB-licensed bank Revolut must file full CRS reports in participating jurisdictions.