What is Revolut?

What is Revolut?

Revolut is a digital wallet that allows you to move your money across over 150 currencies, including cryptocurrencies, and spend anywhere that accepts Visa.

While Revolut is registered as a bank in Europe and the UK, in New Zealand it is not a bank. But Revolut works closely with local banks to allow payment between users and non-users, both overseas and domestically.

How does Revolut work?

Revolut is a digital wallet that works like a conventional bank account via a smartphone app. Once you transfer money from your bank account into your Revolut digital wallet, you can use that money to:

• Buy goods instore and online, using a physical card or a virtual card loaded onto your phone
• Transfer money to friends and family, at home and abroad
• Spend in multiple currencies

Why use Revolut?

Transferring money, locally and internationally, is simple, and funds can be sent directly to other people’s bank accounts; they don’t need to use the Revolut app.

The Revolut app also features the ability to buy goods online using single-use virtual cards. These allow you to make secure online purchases, using a unique card number for each spend, while your real card details remain hidden from fraudsters.

Instore purchases can be made with a virtual card or, if you prefer, you can use a physical plastic card. Revolut’s premium plan offers a choice of steel cards.

Benefits of Revolut include:

• Easily split and settle bills with other Revolut users
• Joint and child accounts
• Make automatic payments to select partner charities
• Send and receive payments in real time 24/7 with zero fees among app users
• Set goal amounts and deadlines for savings
• Smart budgeting and analytics
• Spend money internationally in over 150+ countries with a virtual or physical card

Compare Travel Money Cards

Headed off overseas and looking for the best in money cards? Here’s a rundown of some of the most popular cards in New Zealand:

Provider	Key Features	Main Fees
	• 150+ currencies • Free physical and virtual card (delivery fees apply for physical card) • Use anywhere Visa is accepted	• No monthly fees (standard account) • Fee-free, instant transfers between Revolut users • Fee-free top ups for bank transfers and debit cards • Fee-free FX within market hours and plan allowance*
	• 9 Currencies • Earn Airpoints Dollars • Use wherever Mastercard is accepted • OneSmart app	• No load/reload fee for bank transfers • Monthly fee: NZD $1 (if funds in account)
	• 140+ Currencies • Use wherever Mastercard is accepted • Cash Passport app	• No load/reload fee for bank transfers • No monthly fee
	• 9 Currencies • Use wherever Mastercard is accepted	• No load/reload fee for bank transfers • No monthly fee
	• 40+ Currencies • 2 free ATM withdrawals of up to NZ$350 per month	• Receive and add money to your Wise Account for free • Physical card $14 one-off fee
	• 9 Currencies • Use wherever Mastercard is accepted • Mastercard Priceless Cities benefits	• Free overseas ATM withdrawals • No load/reload fee for bank transfers • No monthly fee

The display order does not reflect any ranking or rating by Canstar. This information is not an endorsement by Canstar of travel money cards or any specific provider. Information correct as of 14/04/25. For full pricing details see individual providers’ websites. *Weekend fee will apply outside exchange market hours if it is made between Friday 5pm (New York time) and Sunday 6pm (New York time), which is a US based time zone

Compare Travel Money Cards

Invest in cryptocurrencies and precious metals

Kiwi Revolut users can also buy, sell and exchange popular cryptocurrencies and precious metals through the app:

• Invest in precious metals, including gold, silver and platinum
• Purchase over 100 cryptocurrencies, including popular coins such as Bitcoin, Dogecoin, Ethereum, Solana and Ripple

Note that you can’t use cryptocurrencies within the Revolut app to make purchases.

Revolut for under 18s.

Parents and guardians with a Revolut account can approve sub-accounts for their children between the ages of six and 17. Revolut’s under-18s accounts allow users to:

• Spend using a personalised card or via Google and Apple Pay
• Transfer funds to other Revolut users (limited to those 16+)
• Set savings goals

Parents and guardians retain spending control over their children’s sub-accounts.

Revolut eSIMS

Hand-in-hand with Revolut’s international currency features, Revolut also offers its globetrotting customers great value eSim plans for those with compatible phones.

Revolut’s eSim plans cover 116 counties, and prices start from as little as $2 for a 1GB seven-day plan.

All data used by the Revolut app while using a Revolut eSIM does not count towards the plan’s data limit.

How do I get Revolut?

Revolut can be downloaded from the Apple and Google app stores. Or you can download the app directly from Revolut’s website via a QR code.

Once downloaded, setting up an account is easy and only takes a few minutes. You’ll need to provide the following information:

• Name
• Home address
• Birth date
• Email address
• Phone number

You’ll need to verify your identity by submitting a photo of your New Zealand passport or New Zealand driver licence.

Does Revolut cost to use?

There is no charge for the standard version of Revolut and its app. However, Revolut also offers premium and metal plans, which come with extra features and costs:

Premium ($11.99/month):

• 60% discount on international currency transfer fees
• Discounted airport lounge access
• NZ$700/m fee-free ATM withdrawals
• Travel insurance cover

Metal ($22.99/month):

• 80% discount on international currency transfer fees
• Discounted airport lounge access
• NZ$1400/m fee-free ATM withdrawals
• Personalised metal card
• Travel insurance cover

You can find the full details about Revolut’s card plans here. 

Is Revolut safe?

Revolut is very safe. It features award-winning digital security features and all funds are held in trust in a New Zealand bank.

Compare Travel Money Cards

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