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What is Revolut? It’s a financial application that helps users conduct domestic and borderless operations. It was developed in 2015 by two businessmen of Russian and Ukrainian origin, and since the launch it has attracted 30M+ private and 500K+ corporate users and recognition from 200+ nations.
Revolut operates via a subscription-based model with a free plan. The app provides hassle-free software that supports many currencies and instruments for clients to manage and save their funds. So, what is Revolut, really? Check the piece below to learn about its features and registration options.
What is Revolut Feature-wise?
Most operations on Revolut are conducted via a mobile application with many advantages like multi-currency accounts, or inter-bank money transfers. You can use it globally in 29 national currencies or as a local in 150 currencies. You can also trade cryptocurrency using the app, which is a reason to create a Revolut account.
Revolut provides flexible policies on commissions that depend on the country. The fees generally do not exceed 2-3% of the total amount. The application also offers debit cards and savings vaults that earn interest.
What is Revolut subscription plan? It lets participants spend and exchange funds unlimitedly with free or discounted transfer and withdrawal commissions, and even more comfortable exchange rates. It also offers cashback options, travel insurance, premium cards, purchase protection, stock trades, and more.
Notably, there are specific limitations for businesses and freelancers. Starting at free, they’re linked to the amount of funds being processed via their payment system and can move from a regular to a paid account. If you want to know what is Revolut terms and limits, their official website offers a good lead.
The application is among the most successful online banking institutions. Is it safe to create a Revolut account? It received the European Banking License in 2018 and is controlled by the Bank of Lithuania. It uses the modern security protocols for operation. It’s a high-end institution, and it’s very secure.
How to Create a Revolut Account as an Individual?
According to the official website, you can register a private account anywhere in Europe, Asia and the USA.
The registration procedure can depend on location, but here’s a general stepwise guide:
- Download the Revolut app from the AppStore or Google Play
- Open the app and start the registration process
- Enter a mobile number for Revolut.
- Verify it via an SMS code.
- Specify your private information, including your name, date of birth, location, and email address.
- Replenish your balance if needed.
- Verify yourself.
You must provide your phone number for Revolut, as it helps make your presence on the platform safe and comfortable. The service can send notifications and verification codes for some activities on the said number. It can also be useful for security algorithms, as they can find the scammers by phone, among others.
The number is a common part of the KYC protocols for most banking services today, so it’s understandable that Revolut tries to be in touch with modern practices and requests it. But can you have 2 accounts on Revolut?
For an account, you need to provide your residential address, email, number, and other details. Even if you give a spare address, fake email, name, and date of birth, you will still need a spare number, meaning an extra SIM card, verified with your piece of documentation. This is inconvenient, but SMS-man knows a workaround.
It involves virtual mobile numbers using cloud-based software that is not tied to location, documents, or mobile devices. They can be auto-generated with different national codes, meaning you can get the virtual numbers of Revolut-supporting countries, and use them to create multiple Revolut accounts.
Can I create Revolut account without a Phone Number?
SMS-man provides both disposable and rental phone numbers. The latter option is convenient if you need to register with one number in different services and receive more than 2 SMS within a limited period of time. The first option is convenient if you need one account for a specific service.
So, how to get a disposable virtual phone number for Revolut? Here’s a step-by-step guide:
- Sign up at sms-man.com using your e-mail or social network account.
- Go to the ” Top up my balance” menu option to make a deposit to your account.
- Once your account is recharged, click on the “Buy SMS” button.
- Select one of the available countries and the Revolut app.
- Find and copy your phone number in the “History” section.
- Use it when registering and wait for the verification code.
- Go back to SMS-man and click “Receive SMS” to see the code.
- Complete the account creation process.