Revolut Business is a business financial platform offered by Revolut, a London-based fintech company.
It provides businesses with a range of features such as multi-currency accounts, virtual and physical debit cards, and real-time transaction notifications.
Revolut Business also offers businesses the ability to hold, exchange, and transfer funds in multiple currencies at interbank exchange rates, and it allows businesses to automate and streamline their expense management through the use of virtual cards and real-time notifications.
Additionally, the platform features a suite of tools for businesses to track and monitor their spending, such as analytics and receipt-scanning.
Features summary:
- Earn up to 1.9% cashback. Get a minimum of 1.5% cashback on all qualifying card spend on their Standard plan, boosted up to 1.9% on paid plans. No points or air miles – you’re rewarded every month in cash. Limits apply per plan.
- Save money on transfers and payments at market leading rates.
- Exchange money at great rates in 25+ currencies.
- Physical and virtual company debit cards.
We’ll review the current account types available with Revolut Business below.
READ MORE: See The Revolut Personal Plans Here
Revolut for Business offers two types of online accounts, and each type has 3 pricing plans:
- Freelancer – Standard, Professional, Ultimate
- Company – Standard, Grow, Scale
Revolut Freelancer Account
Revolut for Business Freelancer account is for self-employed individuals, freelancers, and sole proprietors. There are 3 subscription plans being offered: Standard, Professional and Ultimate.
Revolut Freelancer Standard
Revolut Freelance Standard is a pricing plan that is intended for self-employed individuals and freelancers who are looking for a simple and flexible way to manage their finances. The Freelancer Standard plan is a no-cost version of the Revolut Business account, designed for those who have more limited financial services needs.
With the Standard account, freelancers enjoy these perks:
- Cards
- 3 physical debit cards per user
- 200 virtual cards per user
- Transfers and exchanges
- 5 no-cost local payments
- Spend like a local in 150 currencies
- Hold and exchange 25+ currencies
- No-cost transfers to Revolut accounts
- Manage recurring transfers
- Local accounts in GBP and USD
- Team management
- Invite unlimited team members
- Team member permissions
- Spend management
- Manage your team’s expenses
- Additional features
- Access on the web or via the app
- 24/7 support
- Rewards
- Connect your company’s apps
- Xero, Slack, QuickBooks and more
READ MORE: Take A Look At The Best Small Business Checking Accounts
Revolut Freelancer Professional
The Revolut Freelancer Professional plan is an upgraded pricing plan for freelancers who need more advanced features to manage their finances. The Professional plan is a paid version of the Revolut Freelancer account; it offers a range of additional features and higher limits than the Standard Freelancer plan.
The plan offers all the features of the Standard account, plus the following:
- Cashback
- Earn 1.9% boosted cashback up to $2,000
- Transfers and exchanges
- 5 no-cost international payments
- 20 no-cost local payments
- Foreign exchange at interbank rate up to $5,000
- Bulk payments
- Spend management
- Transfer approval
- Additional features
- Business API integrations
Overall, the Professional plan is intended to provide more flexibility and control over financial operations for self-employed and freelancers who have more advanced needs or a bigger client base.
READ MORE: Chase Business Complete℠ Banking Sign-Up Bonus
Revolut Freelancer Ultimate
The Revolut Freelancer Ultimate plan is the highest-tier pricing plan for freelancers offered by Revolut. It is designed for freelancers and self-employed individuals who need the most advanced features and the highest limits to manage their finances.
The Ultimate plan includes all the features of the Professional plan along with the following:
- Cashback
- Earn 1.9% boosted cashback up to $10,000
- Transfers and exchanges
- 10 no-cost international payments
- 100 no-cost local payments
- Foreign exchange at interbank rate up to $10,000
Overall, the Ultimate plan is intended to provide the most advanced and comprehensive set of features and limits for freelancers and self-employed individuals who need the highest level of flexibility and control over their finances.
Revolut Company Account
The Revolut Company Account offers 3 paid plans and access to some of the same features as the Freelancer plans but designed for businesses under registered business names.
Revolut Company Standard
The Revolut Company Standard plan is a pricing plan offered by Revolut for small businesses that have more limited financial services needs. This plan comes with a set of basic features that allow companies to test the product and its features and then decide if they want to upgrade to a paid plan.
With the Revolut Company Standard plan, businesses enjoy:
- Cards
- 3 physical debit cards per user
- 200 virtual cards per user
- Transfers and exchanges
- 5 no-cost local payments
- Inbound and outbound domestic wires
- Spend like a local in 150 currencies
- Hold and exchange 25+ currencies
- No-cost transfers to Revolut accounts
- Manage recurring transfers
- Local accounts in GBP and USD
- Team management
- Invite unlimited team members
- Team member permissions
- Spend management
- Manage your team’s expenses
- Additional features
- Access on the web or via the app
- 24/7 support
- Rewards
- Connect your company’s apps
- Xero, Slack, QuickBooks and more
One thing to keep in mind is that Standard plan may have limits on certain features, such as the amount of transactions that can be made. In addition, some more advanced features that are included in the paid plans may not be available with the Standard plan.
READ MORE: J.P. Morgan Self-Directed Investing Welcome Offer
Revolut Company Grow
The Revolut Company Grow plan is a pricing plan offered by Revolut for small to medium-sized businesses that need more advanced features to manage their finances. This plan is designed for businesses that have outgrown the basic features of the Standard plan and need more control over their finances.
The plan offers all the features of the Standard account, plus the following:
- Cashback
- Earn 1.9% boosted cashback up to $10,000
- Transfers and exchanges
- 10 no-cost international payments
- 100 no-cost local payments
- Foreign exchange at interbank rate up to $10,000
- Bulk payments
- Spend management
- Transfer approval
- Additional features
- Business API integrations
The Grow plan is intended to provide more flexibility and control over financial operations for small to medium-sized businesses. It offers more features and higher limits than the Standard plan while being less expensive than the Scale plan.
READ MORE: Bank of America Checking Account Bonus Offer
Revolut Company Scale
The Revolut Company Scale plan is a pricing plan offered by Revolut for larger businesses and organizations that need advanced features to manage their finances. This plan is designed for businesses that have outgrown the features of the Grow plan and need more control over their finances.
The Scale plan includes all the features of the Grow plan along with the following:
- Cashback
- Earn 1.9% boosted cashback up to $30,000
- Transfers and exchanges
- 50 no-cost international payments
- 1000 no-cost local payments
- Foreign exchange at interbank rate up to $50,000
The Scale plan is intended to provide more flexibility and control over financial operations for larger businesses and organizations. It offers more features, higher limits, and more support than the Grow plan.
READ MORE: See The Best Nationwide Savings Accounts Here
Bottom Line
Revolut for Business accounts are designed for businesses of all sizes and can be useful for a variety of different types of organizations. Some examples include:
- Small businesses: The standard and premium plans can be a good fit for small businesses that need a simple and cost-effective way to manage expenses, make international payments, and get real-time visibility into their finances.
- Freelancers and entrepreneurs: Revolut’s business accounts can be a useful tool for self-employed individuals who need to keep track of their income and expenses, as well as make international payments to clients or suppliers.
- E-commerce companies: The business accounts can also be useful for e-commerce companies that need to manage multiple currencies and make payments to suppliers and customers in different countries.
- Online marketplaces: Revolut for Business can also be a good fit for online marketplaces, as it allows them to manage multiple vendors, payouts and ensure compliance with the regulatory framework,
- Large companies: The Enterprise and Custom plans can be useful for larger, global organizations that need the highest limits.
Overall, Revolut for Business accounts can be useful for a wide range of organizations, from small businesses to larger enterprises, and can help streamline financial operations, reduce costs, and provide more visibility and control over company finances.
See Terms & Conditions for details. Funds in your Revolut prepaid card account are held at Metropolitan Commercial Bank, Member FDIC.
READ MORE: Seeking Alpha Limited-Time Promo Discount
Frequently Asked Questions (FAQs)
Filling out a short form is all it takes to open a Revolut Business account in about 10 minutes. They’ll need to look over your application for a business account and start the process of getting you set up.
The onboarding process can be quick, but it depends on how complicated your business is and how many documents you upload.
To set up your Revolut Business account, they’ll need the following details:
A confirmation of your business address.
A short summary of what your business does and where it is.
What do you plan to do with your business account?
Proof that you are who you say you are.
Which Revolut Business plan you’ll start with.
With the Standard plan, you won’t have to pay anything each month. You only have to pay for what you’ve used during the month.
With one of the paid plans, you can save money by getting special features, perks, and higher allowances.
Their plans are good for both companies and freelancers with Business accounts.
The Revolut USA Prepaid Mastercard is issued by Metropolitan Commercial Bank pursuant to a license from Mastercard International and may be used everywhere Mastercard is accepted. Banking services are provided by Metropolitan Commercial Bank, Member FDIC, and are subject to the terms of a Cardholder Agreement. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank© 2014. Revolut Technologies Inc. is a technology services provider and administrator of the card program.
