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Revolut is a digital banking app that lets people hold, spend, send, and invest money from their phones.
Revolut is a fintech company that offers a smartphone app people use as an all-in-one money account. Instead of walking into a bank branch, you sign up in minutes and get an account that can hold dozens of currencies, send money abroad, and give you a card to spend with. It started as a cheap way to swap currencies while traveling, and that travel-friendly DNA still shapes how people use it — swapping pounds for euros or dollars at rates far closer to the real market rate than a typical bank or airport kiosk charges.
The company makes money in several ways. It earns a slice of the fees merchants pay when you swipe a Revolut card, similar to how any card issuer gets paid. It sells paid subscription plans that unlock perks like higher limits, cashback, and travel insurance. It earns from foreign exchange, from trading commissions on stocks and crypto, and from lending products like personal loans and credit cards. Customers pick Revolut because the app is fast and clean, the exchange rates are sharp, and the features arrive quickly — the trade-off they accept is that there is no branch to walk into and support is mostly in-app. Revolut has expanded well beyond spending. It now offers savings accounts, stock and crypto trading, budgeting tools, and business accounts for small companies. It obtained a UK banking license with restrictions in 2024, a milestone that lets it eventually offer protected deposits and lending more fully at home. That matters because a full banking license is the difference between being a clever app sitting on top of other banks and being a real bank in its own right, with the trust and deposit protections that come with it. The business is growing fast but has had growing pains. Revenue has climbed sharply in recent years as it added customers and products, and the company has pushed toward profitability after years of losses. It has faced scrutiny over compliance and its sometimes aggressive culture, and regulators have slowed parts of its expansion. Its biggest rivals are other app-first finance companies and the incumbents' own digital apps, so its edge depends on staying faster and more useful than both.
Saved answer · last researched 23 Oct 2026
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