Revolut: the best free card for travel?

Revolut is a British neobank, competing with its German neighbor N26. Both aim to conquer a nomadic public: travelers, expatriates, professionals on frequent trips.

The major advantage of neobanks lies above all in their bank charges abroad: withdrawals, payments, transfers, they quite simply offer one of the cheapest offers on the market, far ahead of traditional banks. This makes them a real bank for traveling!

However, while they have some things in common, their offerings are different. Is the Revolut card the best free card for traveling?

Before you start ...

I specify again that this article is not sponsored like no article in the blog. I personally have the N26 card, which I am satisfied with. For your information and to give you the free will to choose the offer that suits you best, I present to you objectively the Revolut neobank. The purpose of this article is to list the advantages and limitations of Revolut and if necessary to compare them with N26.

What is Revolut?

Created in 2015 in London by two former financial engineers, Revolut quickly became an essential neobank.

The British bank offers on the one hand a multi-currency bank card for pay free of charge in all currencies Foreign and on the other hand, the best free exchange system in 24 currencies including the pound sterling.

With the Revolut card, you can pay in foreign currency to interbank rates who are the best exchange rates. In other words, the card acts like a local card by automatically converting into one of the 150 available currencies. Therefore, there will be no charge since the payment is made directly in local currency.

However, frais apply if you do a change (manually or automatically) on weekends (Saturday and Sunday, London time). An increase of 0,5% to 1% takes place depending on the currency, to guard against risk. In other words, if you have the currency you are paying with in your Revolut account, you will not have any fees.

On the other hand, if you change over the weekend or Revolut does it for you: you will pay a tax. For example, if you change pounds or dollars on weekends, count a 0,5% markup.

Hence the importance of changing yourself and during the week!

Revolut offers

Revolut offers 3 offers namely: Standard at 0 € / month, Premium at 7.99 € / month and Métal at 13.99 € / month

The Standart offer

You travel punctually and want to have an offer at a lower cost and make your payments and withdrawals in foreign currencies free of charge, opt for theRevolut Standard offer at 0 € / month.

In addition, if you already have a gold card from a traditional bank, this offer will be complementary. Indeed, you will have the advantages of the gold card with insurance and those of Revolut for payments and withdrawals abroad free of charge.

Find out more about the standard offer

The premium offer

You travel regularly or plan to take a trip around the world, opt for theRevolut Premium offer at 7.99 / month.

With theoffre premium, you can withdraw up to 400 € per month for free at international vending machines (i.e. 200 € more than with the standard offer). Beyond that, a fee of 2% of the amount withdrawn is applied.

With this offer you will also benefit from baggage and / or delayed flight insurance and medical insurance including:
- Emergency medical and dental care abroad.
- Access to a large network of medical centers around the world.
- Fast reimbursement of costs directly to your Revolut account.

If you are traveling with friends or family, medical insurance abroad may adapt. You can easily add more people to your insurance policy, right from your app and in just seconds!

In addition, with the premium offer, you benefit from a free global express delivery service with the sending of the card within 1 to 3 working days in more than 180 countries; with the possibility of having a free additional card.

Finally, the LoungeKey Pass gives access to more than 1 airport lounges around the world. Book your access, present your QR code at the entrance to the show.

Find out more about the Premium offer

Metal offer

You travel often and you are a professional,Revolut Metal offer at 13.99 € would address your profile.

In addition to the features already present with the Standard and Premium offers, Revolut adds a cashback (paltry 0,1% on expenses) and a concierge service.

These various relatively insignificant advantages are unattractive and do not justify the price difference with the premium offer.

Find out more about the Metal offer

Revolut and the cryptocurrency bet

Aware that this new virtual currency is not very accessible to the general public, Revolut has simplified the exchange process. So with just a few clicks you can own and trade five cryptocurrencies (Bitcoin, Bitcoin Cash, Litecoin, Etherum and XRP).

In addition, the application allows you to view cryptocurrency charts in real time and set alerts, as well as make free transfers to other Revolut users.

Beware of the risk of loss, because the value of cryptocurrencies can vary very quickly.

Learn more about cryptocurrencies

What are the advantages of the Revolut card?

Quick and easy registration from the downloadable application on smartphone or tablet. No file to complete
No income conditions to open an account
Customization of his secret code for payments. Very convenient !
No minimum deposit
No exchange fees up to € 6000 per month
Payment by credit card abroad free of charge.
Withdrawals in euros in ATMs free up to 200 euros per month. Beyond 200 €, commission of 2% per withdrawal.
Transfers international banking free
No account maintenance fees
Pay for purchases with the app Apple Pay and Google Pay
Contactless card
Customizable map. Possibility to change the access code, block or unblock the card or set options
- For each payment by card, possibility ofround automatically the higher whole number amount and place the difference in the Savings box. With this system, it is also possible to instantly exchange any of the 24 currencies into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP.
Possibility of'' use your Revolut card on public transport in London (Bus, metro ...) and to do without a Oyster card. No additional charges and the ceiling of 7 pounds per day applies without problem.

What are the disadvantages of the Revolut card?

Shipping costs of the card: 6 €
Des exchange fee between 0,5% and 2% on weekend depending on currencies. As an example, the fees are 0,5% on weekends for the British Pound and the US Dollar
No 3-D Secure protocol to secure online payments
Systematic authorization card. Therefore, the card may not work in some parking lots, toll booths, UBER or for car rentals when a payment requires a deposit.
No insurance for the standard offer at 0 €
Customer service in English
Le compte being domiciled in the United Kingdom, it must therefore be declared as a foreign account by sending the French tax administration the declaration form

Free card abroad: Revolut or N26?

Both Revolut and N26 are neobanks, sharing a similar strategy with a free standard offering. The choice of one of these two neobanks therefore depends on the preferences and priorities of the user.

At Revolut the Premium offers are cheaper than N26.

Native country GermanyGreat Britain AccountStandartStandart ATM withdrawal fees 5 withdrawals / month free then € 2 per withdrawal
Outside Europe 1,7% of the amount withdrawnFree up to € 200 / month then 2% per withdrawal (EU and non-EU) Card payment feesCommission-free in all currenciesCommission-free in all currencies Transfer outside the SEPA zoneTransferWise fees - vary by currencyNo fees up to € 6000 / month then 0,5% per transaction Limits for paymentsUp to € 5 per day or € 000 per monthUp to € 7.000 over 4 days Limits for withdrawalsUp to € 2 per day or or € 500 per monthUp to 5 € per day Card mailing costsFree€ 6

Revolut's strong point is to offer free withdrawals outside the euro zone. With the standard offer at € 0, you can withdraw free of charge up to the equivalent of € 200 / month, above this amount the fees are 2% of the withdrawal.

In comparison, N26 charges from the first withdrawal 1.7% of the amount withdrawn, which remains competitive. Indeed, a traditional bank like Société Générale charges withdrawals outside the euro zone, 1 EUR + 2,70% of the amount of the payment.
Online banks such as Boursorama and Hellobank will charge 1,94% and 2% for this service respectively per transaction.

But why this difference between N26 and Revolut? Quite simply, to calculate the exchange costs, N26 use it mastercard rate et Revolut le interbank rate. To the question, which one is the most advantageous? It all depends on the currency and the daily rate; sometimes mastercard is more advantageous, sometimes it's the interbank rate. So by using the interbank rate, Revolut adds 0,5% of fees if you make the change on your account on weekends in order to compensate for a possible rise in the price on those days.

In addition, Revolut is more widely established than N26. Namely all the countries of the European Union and Switzerland! Also, Revolut will very soon be available to residents of Canada, pre-registrations are already open.

Online shopping: Revolut or N26?

If like me, you buy from websites located abroad, in Pounds Sterling or other currency, the card N26 (free of charge) with its 3d secure protocol makes it possible to secure online regulations.

With Revolut to be protected against online fraud, you will have to opt for the premium paid offer which has the ephemeral virtual card service.

Who can subscribe to Revolut?

Unlike the majority of online banks, with Revolut (ditto for n26) you don't need to justify your income and no minimum deposit is required for account activation.

How to open a Revolut account?

How to fund your Revolut account?

You can fund your Revolut account by doing:
- A transfer from a Bank account classic. 48h delay and free of charge.
- A transfer from a debit card issued in your country. Instant and free of charge
- A transfer from a credit card or a card issued in another country of your place of residence. Instant and with minimal fees.

Do I have to declare my Revolut account on my tax return?

The account is domiciled in Great Britain. Consequently, it must therefore be declared as a foreign account at the time of the tax declaration, either by sending the French tax administration the declaration form.

Conclusion

Revolut is an attractive and competitive product that allows you to pay and withdraw foreign currency free of charge when traveling. Thus, for use with frequent payments abroad and foreign exchange transactions, Reolut offers the offer the most competitive on the market in this area.

For local use, the benefit goes to N26. Indeed, the costs of sending the card are free and withdrawals in euros from ATMs are not limited to € 200 per month but to 5 withdrawals per month.