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Revolut is a London-based digital or ‘neo-bank’ and fintech company. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, who left Credit Suisse to create a cost-effective and international banking experience [turn0search0].

In 2024, Revolut expanded its business by obtaining a banking license from the UK and achieving a valuation of $45 billion—compared to major banks such as Deutsche Bank and Barclays [turn0news10]. In 2023, the company had revenue of £1.8 billion, net profit of £438 million, and active users of around 38 million, reaching 45 million in 2024 [turn0search0]. Total transaction volume was £250 billion and customer deposits were £18.2 billion in 2023 [turn0search0].

2. What do people use Revolut for every day?

• Multi-currency banking and exchange

Revolut users can store, exchange and access 28+ currencies in the app. The app uses “real-time interbank rates” to convert currencies, which are often cheaper than traditional banks [turn0search3].

• Save and benefit from international travel

Standard users also get free ATM withdrawals up to a limit each month—Premium and Metal plans offer wider limits and cashback, plus perks [turn0search3].

• Savings Vaults

Airbnb-like round-up features, Vault goal setting, and joint vaults—all available with Revolut Standard [turn0search1]. Savings also earn interest—Premium/Metal plans offer better APY [turn0search2].

• Investing and crypto

You can use the Revolut app to invest in stocks and ETFs (commission-free) and trade for extended hours. Cryptocurrency trading is also possible [turn0search2].

• Spending analysis and budget settings

Spending features like automatic expense categorization, monthly budgeting, and expense alerts—all of these make Revolut a more streamlined experience [turn0search1].

• Security and card controls

Security Control provides users with virtual disposable cards, money-saving, card freeze/unfreeze, usage limits, location-based usage controls, etc. [turn0search1].

• User experience (inherited from Reddit)

“I’ve been using Revolut for about5–6years… received my salary through Revolut, transferred over 20k… I couldn’t be happier…”

— Experienced user [turn0reddit16]

“I use it with my girlfriend to pay for everything household related… we send a portion of our salaries to the joint Revolut account.”

— Daily use of a couple [turn0reddit23]

“I love how Revolut offers temporary debit cards… the virtual card will be destroyed once the first payment is taken…” — Someone shared information because they love secure online payments [turn0reddit18]

“Insurance for trip cancellation… After around 4 business days… they gave the whole amount to my Revolut immediately.” — A user happy with the internal service support [turn0reddit20]

3. Why is Revolut so popular?

An account can be opened in minutes without much paperwork, and Revolut offers users unparalleled benefits by eliminating the hassle of the old banking system [turn0search1].

(ii) Global expansion and modern design

In addition to the EU, EEA, expansion is underway in the US, India, Brazil. Revolut aims to be a “Financial super‑app”—like Alipay [turn0search0], [turn0news12], [turn0news10].

(iii) Convenient fees and fast transfers

Ali-fee free interchange, fast P2P transfers, clear fees—attract users [turn0news10], [turn0search0].

(iv) License and legality

UK banking license to be granted in 2024; this will benefit brand credibility and financial services expansion [turn0news10], [turn0search4].

(v) Successful financial results and valuation

£1.8B revenue, £438M profit, $45B valuation—proof that Revolut is a successful fintech platform [turn0news15], [turn0search0].

(vi) Market demand response

Neo-banking adoption in the UK is growing from 16% to 50%—with Revolut being one of the main lifeblood platforms [turn0news12].

4. Limitations and risks

A BBC investigation found that a user lost €197,000 in 1 hour due to phishing access—Revolut did not refund that case [turn0news14].

• Regulatory pressure despite strong partnerships

There are criticisms about the startup time and especially about consumer protection [turn0news10].

• App experience

Some complain that the app UI is a bit clunky and ad-heavy [turn0reddit22].

• Privacy

A few Reddit users report that Revolut discloses transactions in statements with their full names—there is no anonymity [turn0reddit27].

Conclusion

Revolut is not just a banking app—it is a financial super-app, which:

Provides a fast, paperless, and global banking solution.

Affordable exchange rates, international features, savings/investment tools, stock and crypto trading, complete security and card control—all in one platform.

User-friendly, modern design, global expansion, and a strong financial foundation have brought Revolut to the top of its popularity.

However, users must be aware—of security risks, fee structures, and personal data protection. Before accepting Revolut as a bank, it is important to do due diligence.