Our Verdict on the Revolut Business Bank Account
For a business that moves money across currencies or runs a team on expense cards, Revolut is an easy yes, and since 11 March 2026 it is a full UK bank with deposits FSCS-protected to £120,000.
The catch is invoicing: there is none on any plan, so if you raise and chase invoices from your banking app you run a second tool from day one. The other watch-out is FX volume. Below roughly £15,000 a month in conversion, pay-per-transfer Wise is usually cheaper; above it, Grow at £30/month starts paying for itself.
See Revolut Business plans →The full review below covers the costs, limits and trade-offs.
Who Revolut Is Best For
Pick Revolut if foreign currency touches your account most months. That covers more UK small firms than the label suggests: a design studio invoicing a US client in dollars, an online shop paying a supplier in euros, or a small consultancy with a contractor in Spain on the books.
Take the design studio. When the US client pays in dollars, the money sits in the dollar account until the rate looks right, rather than losing roughly 3% to a high-street conversion the day it lands. Holding the currency is the whole point.
Multi-employee teams come second. If you’re issuing cards to three or more people and need per-employee limits with merchant locks, Grow at £30/month covers that natively. Starling and Tide don’t.
Avoid Revolut if you bank only in sterling. Basic’s 10 free transfers is a ceiling, not a working allowance. The plan fee buys a domestic-only business nothing.
Skip Revolut if invoicing matters. It has none on any plan. For invoice-led businesses that is a deal-breaker, not a quirk.
Revolut Account Eligibility and Application
Who can open a Revolut account. You can apply as a sole trader, limited company, LLP, or partnership registered in the UK. Eligibility’s wider than Monzo Business. We confirmed the entity types from revolut.com in May 2026.
No minimum trading history is required for most business types. Charities and certain regulated sectors face additional checks. If you’re in one of those categories, confirm at revolut.com before applying.
Accounts opened before 11 March 2026 need checking. They still sit with the prior e-money entity (Revolut Ltd) and are migrating to Revolut Bank UK Ltd in phases, so your FSCS protection depends on whether your account has moved across yet.
If you opened recently, your account is held by Revolut Bank UK Ltd from day one. We’d suggest confirming your status at revolut.com before depositing significant working capital.
What you need to apply. Your application runs through the Revolut app: no branch visits, no paper forms.
| Business type | What you need to apply |
|---|---|
| Sole trader | Photo ID, a selfie, and proof of address |
| Limited company, LLP or partnership | Photo ID, a selfie, proof of address, plus Companies House registration details and ultimate beneficial owner information |
| Application flow checked against revolut.com, May 2026. | |
Sole traders take the lighter route, and the identity check is automated, so most applications complete within one to two business days.
If your business sits in a higher-risk category, expect manual review rather than the one-to-two-day automated path, and ask for an indicative timeline up front.
Revolut Account Fees and Pricing
Monthly Fees and Plan Options
There’s no free plan. You choose Basic at £10/month, Grow at £30/month, Scale at £90/month, or Enterprise at custom pricing. We confirmed these prices at revolut.com in May 2026.
Basic includes 10 free local transfers and £1,000 of FX. Grow steps up to 100 transfers, £15,000 FX, and 5 free SWIFT internationals. Scale moves to 1,000 transfers, £60,000 FX, and 25 free SWIFT.
The plan ladder is built for FX volume, not domestic activity. A UK-only operation pays £120 a year for Basic and gets what Starling delivers free. That’s the maths you need to run first.
When your monthly FX sits above £15,000, Grow earns its cost. Below £1,000, Basic covers you. The middle band, £3,000 to £8,000 monthly FX, is where the plan choice gets hard.
| Plan | Monthly fee (£) | Free local transfers | Free FX (£/month) | Free SWIFT |
|---|---|---|---|---|
| Basic | £10 | 10 | £1,000 | None |
| Grow | £30 | 100 | £15,000 | 5 |
| Scale | £90 | 1,000 | £60,000 | 25 |
| Enterprise | Custom | Custom | Custom | Custom |
| Plan tiers verified at revolut.com, May 2026. FX above allowance is charged at 0.6%; a weekend FX markup also applies but the exact rate is not published. Confirm current pricing before applying. | ||||
Transaction Fees and Charges
Above your monthly allowance, local transfers cost 20p each. International SWIFT transfers cost £5 each on Basic, and £5 each above the free allowance on Grow and Scale. We checked these in May 2026.
FX above the monthly allowance is charged at 0.6%. At £50,000 of additional FX beyond Scale’s £60,000 allowance, that’s £300 in markup alone, separate from the £90 plan fee. The fee compounds fast.
A weekend FX markup applies when markets are closed. Revolut confirms it exists but the exact rate isn’t on the pricing page at time of review. Schedule large conversions for weekday market hours.
If you send five SWIFT payments on Basic chasing month-end supplier deadlines, that’s £25 in transfer fees on top of the £10 plan fee. £35 before any FX volume. Compare that to Wise, which charges per transfer at the interbank rate with no monthly commitment.
No cash deposit channel exists on any plan. ATM withdrawals carry charges above the daily free limit. Confirm current ATM and card limits at revolut.com before relying on any specific figure.
Revolut Features and Business Banking Tools
Invoicing and expense management. Revolut doesn’t offer invoicing on any plan. Not Basic. Not Grow. Not Scale. We checked again at revolut.com in May 2026. If you need to create, send, and chase invoices from your banking app, Revolut is the wrong product.
Tide includes invoicing free on its starter plan. FreeAgent and QuickBooks handle invoicing alongside any current account. If your VAT quarter depends on raising invoices in the same app, plan for a second tool from day one.
On expense management, the picture changes. Team expense cards with per-employee spending limits, merchant locks, and category restrictions sit on Grow and Scale. Receipts can be captured in the app and tagged for export.
Say someone on your team pays for a client lunch or fills up the van. They photograph the receipt in the app, it attaches to the transaction, and it is reconciled before your bookkeeper next opens Xero. That takes a real chunk out of the month-end close.
Which tools you get depends on the plan, and the gap between Basic and Grow is wider than the fee suggests.
| Feature | Basic (£10/mo) | Grow (£30/mo) | Scale (£90/mo) |
|---|---|---|---|
| Invoicing | None | None | None |
| Team expense cards | No | Yes | Yes |
| Business savings account | No | Yes | Yes |
| Open API access | No | No | Yes |
| Multi-user and accountant access | Yes | Yes | Yes |
| Plan gating verified at revolut.com, May 2026. Enterprise is custom-priced and carries the Scale feature set. Confirm current tiers before applying. | |||
Integrations and accounting software. Your accounting integration options include Xero, QuickBooks, and FreeAgent. Sage is listed too. We’d test that connection directly before relying on it for quarter-end reconciliation if Sage is critical to your stack.
The Open API sits on Scale only. ERP integration, triggered payment workflows, and automated supplier runs aren’t available on Basic or Grow. Most reviews skip this because the plan-tier mapping is undocumented.
If you’re building an internal finance stack and need API-driven payment runs, Scale at £90/month is the entry point. Below that, you’re stitching the workflow together manually or with a separate provider.
Multi-user access with role-based permissions runs on all paid plans. Add team members, accountants, or bookkeepers with view-only or transactional access. Useful when your accountant needs read access mid-quarter but not card control.
Revolut Card Usage and Payments
Spending, transfers and limits. You can issue physical and virtual Mastercards to your team with per-employee spending limits and merchant locks. Card freezes happen in-app. Real-time transaction notifications hit your phone the moment a card is used.
The card costs are simple, and most everyday spend is free:
| Card transaction | What it costs |
|---|---|
| UK card purchases | Free |
| ATM withdrawals | Free up to a daily limit, then 2% |
| Card spend abroad | Free up to a monthly limit, then 1% to 2% by plan |
| Verified at revolut.com, May 2026. The free daily and monthly limits vary by plan; confirm current limits before relying on a figure. | |
Daily and monthly transfer caps scale with the plan. Plan upgrades raise them; downgrades pull them back down. If you’re running a Friday payroll that breaches the daily cap on Basic, the upgrade decision makes itself.
No overdraft. No business credit card on the same product as of May 2026. If you need an embedded credit line, check revolut.com for any current products before depositing your operating balance.
Overseas payments and FX fees. Multi-currency accounts in 25+ currencies are the product’s core differentiator. You receive USD, EUR, and 23+ other currencies into separate sub-accounts at no extra cost. No automatic conversion to GBP on receipt. You choose when to convert.
When an overseas client settles a dollar or euro invoice, the money lands in that currency sub-account and stays there. You convert when the rate suits you, not the moment the payment arrives. Starling and Tide don’t offer this.
The conversion cost itself comes down to three cases:
| Currency conversion | FX cost |
|---|---|
| Within your monthly plan allowance | Interbank rate, no markup |
| Above the allowance | 0.6% |
| Weekends, when markets are closed | An extra markup applies (rate not published) |
| Verified at revolut.com, May 2026. For any conversion above £5,000, schedule it for weekday market hours and confirm the live rate before sending. | |
Against Wise, which charges per transfer at the interbank rate with no monthly commitment, the cost crossover sits near £15,000 a month in consistent FX.
Above that volume, Revolut Grow typically wins on cost; below it, Wise is usually cheaper because you skip the £30 monthly commitment. We’d model your last three months of FX before picking.
Revolut Customer Reviews and Ratings
Revolut holds 4.6/5 on Trustpilot from 280,000+ reviews. We checked the score directly at Trustpilot.com in May 2026, not through an aggregator. For a business account with this volume of reviews, 4.6 is high.
For context: Starling sits at 4.1/5 on Trustpilot; Tide at 4.3/5; Monzo at 4.6/5. The 280,000-review volume gives the Revolut figure more statistical weight than smaller competitors.
Positive reviews cluster around FX functionality, multi-currency accounts, the app experience, and team expense management. The features that command the monthly fee are the features customers actually praise.
Negative reviews follow a clear pattern. Account restrictions triggered by automated fraud checks. Slow chat support when those restrictions hit. No general phone line. That mirrors other digital challengers, not a Revolut-specific failure.
Think twice about Revolut as your only account if you run payments to a deadline. When payroll is due on the 25th or VAT has to clear by the 7th, support that runs through in-app chat rather than a phone line is slowest exactly when you need it fastest.
If your business can’t absorb a frozen account for a day or two, keep a high-street account alongside it as a backup. For any account that can lock on an automated check, that is a sensible safety net rather than a luxury.
FAQs
Is Revolut Business FSCS-protected?
Yes, for accounts held with Revolut Bank UK Ltd. Revolut received its full UK banking licence from the PRA on 11 March 2026 (FRN 981170). Deposits are FSCS-protected up to £120,000 per eligible depositor, the standard statutory limit. Before March 2026, Revolut operated as an e-money institution and funds were safeguarded but not FSCS-insured. If you opened your account before that date, confirm your specific status at revolut.com. We confirmed the regulatory status from the FCA register in May 2026.
Does Revolut Business offer invoicing?
No. Revolut does not offer invoicing on any plan, not Basic, not Grow, not Scale. If you need to create, send, and chase invoices from your banking app, Tide includes built-in invoicing on its free plan. FreeAgent and QuickBooks handle invoicing alongside any current account. We confirmed the gap at revolut.com in May 2026.
What is the cheapest Revolut Business plan?
Basic at £10/month is the cheapest plan. It includes 10 free local transfers, £1,000 of free FX, and one physical card. SWIFT international transfers cost £5 each. Most active businesses hit the 10-transfer ceiling within days and move to Grow at £30/month, which gives 100 transfers, £15,000 FX, and 5 free SWIFT internationals. Confirm current plan pricing at revolut.com before applying.
What happens when you exceed the Revolut FX allowance?
A 0.6% markup applies on currency conversions above your monthly plan allowance. At £50,000 of FX beyond Scale’s £60,000 allowance, that is £300 in markup alone. A weekend FX markup also applies when markets are closed; the exact rate is not on the pricing page as of May 2026. Schedule large conversions for weekday market hours and confirm the live rate at revolut.com before sending.
Can you deposit cash with Revolut Business?
No. Revolut has no cash deposit channel on any plan. If your business handles physical cash, hospitality, retail, market trading, you need a different primary account with a branch or Post Office cash-in route. Tide, Starling, and the high-street banks all offer cash deposit options that Revolut does not.
What are the best alternatives to Revolut Business?
For UK-only businesses, Starling is permanently free with the same FSCS protection and no transfer cap. For businesses that need invoicing in the banking app, Tide includes it free (Tide is an e-money institution with funds safeguarded via ClearBank, not directly FSCS-protected). For occasional international transfers, Wise charges per transfer at the interbank rate with no monthly commitment. Pick on use case, not on brand.
How we reviewed Revolut
What we tested. We opened a Revolut Business account and ran multi-currency transfers and card payments through it, then weighed pricing, terms, features, and eligibility. Cost and safeguarding matter most.
We buy or open the products we review and work from the provider’s own pricing and terms. Revolut’s pricing and product docs were checked in May 2026, and the FCA register cross-checked for regulatory and safeguarding status.
Update cadence. We re-verify this page at least monthly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. Some links on this page are affiliate links, see our editorial policy.