What is Revolut?
Revolut is an all-in-one money app that allows you to spend, send, exchange and manage your money, at home and around the world.
Revolut also offers eSIMs and roaming data plans for Kiwi travellers.
How does Revolut work?
Revolut allows you to:
- Spend and hold over 30 international currencies
- Easily find the closest ATMs to you while abroad, thanks to an in-app map
- Pay via physical or virtual cards, split bills with friends, and earn RevPoints rewards on daily purchases
- Take control of your finances through smart money tools that allow you to set savings goals, and organise bill and salary payments
- Set up shared household accounts
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.
In-store 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
- Revolut’s competitive currency conversion rates
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. Teenagers who are 16-17 can can sign up for a main Revolut account, with some limitations on functionality.
Revolut’s Kids and Teens accounts allow users to:
- Spend using a personalised card, or via Google and Apple Pay
- Set savings goals
- Complete challenges set by parents to earn money
- Receive automated allowances from their parents
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.
Does Revolut cost to use?
There is no charge for the standard version of Revolut and its app. However, Revolut also offers Plus, Premium, Metal and Ultra plans, which come with extra features and costs:
Standard (no monthly fee)
- Earn RevPoints on daily spend: 1 point per $16
- Virtual and disposable cards
- Joint account
- 1 Kids & Teens account
- Money management tools
- NZ$350/m or five no-fee ATM withdrawals
- NZ$2000 no-fee currency exchange during market hours
Plus ($5.99/m)
- Earn RevPoints on daily spend: 1 point per $16
- NZ$350/m no-fee ATM withdrawals
- 2 Kids & Teens accounts + co-parent
- NZ$6000 no-fee currency exchange during market hours
- Personalised card
Premium ($11.99/m)
- 60% discount on Revolut’s international currency transfer fees
- Earn RevPoints on daily spend: 1 point per $8
- Discounted airport lounge access
- NZ$700/m no-fee ATM withdrawals
- Personalised card
- 2 Kids & Teens accounts + co-parent
- NZ$20,000 no-fee currency exchange during market hours
- Travel insurance cover*
Metal ($22.99/m)
- 80% discount on Revolut’s international currency transfer fees
- Earn RevPoints on daily spend: 1 point per $3
- Unlimited no-fee currency exchange
- Discounted airport lounge access
- NZ$1400/m no-fee ATM withdrawals
- Personalised metal card
- 5 Kids & Teens accounts + co-parent
- Travel insurance cover*
Ultra ($79.99/m)
- Earn RevPoints on daily spend: 1 point per $1
- 5GB eSim data each month
- Unlimited airport lounge access*
- Unlimited no-fee currency exchange
- 5 kids/teens accounts + co-parent
* T&Cs apply. Fees, conditions, and insurance criteria apply.
Is Revolut safe?
Revolut is very safe. Security features allow users to manage card security in real-time by instantly freezing cards in the app. Users can also toggle specific controls on or off, such as location-based security, ATM withdrawals, and online transactions.
While Revolut is registered as a bank in Europe and the UK, in New Zealand it is not a bank. But all customer funds are held in trust in a major New Zealand bank.
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.
About the author of this page
In his role at Canstar, he has been a regular commentator in the NZ media, including on the Driven, Stuff and One Roof websites, the NZ Herald, Radio NZ, and Newstalk ZB.
Away from Canstar, Bruce creates puzzles for magazines and newspapers, including Woman’s Day and New Idea. He is also the co-author of the murder-mystery book 5 Minute Murder.
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