Revolut Business Account Review 2024

Revolut business account review image.

Launched in 2015, Revolut set out to offer a higher-quality set of financial services compared to standard brick-and-mortar banks. While it is not a bank, it is backed by a bank and regulated accordingly. It provides a wide range of business banking and other financial services to suit just about any business. 

In this Revolut business banking review, we will help you determine if it is the right digital banking option for your needs. 

Revolut Business Account Eligibility Requirements

Revolut makes it easy to qualify for a business account. Your company only has to meet a few criteria, and you can get a free account if you don’t want to pay a fee. 

Revolut banking is accessible to most types of businesses, including those located throughout much of Europe. As long as you have a physical address in one of the accepted countries, including the US, and some other basic business information, you can probably get an account. 

Revolut even offers free versions of its business banking and freelancer accounts, so you can open a basic account without paying any fees. 

Revolut accounts are available to the following business types:

  • Sole Proprietor
  • Private Corporation
  • Publicly Listed Corporation
  • Limited Liability Company
  • Limited Partnerships
  • General Partnerships
  • Limited Liability Partnerships

On the flip side, Revolut is unavailable to the following business types:

  • Public sector
  • Charity
  • Private foundation or trust
  • Cooperative

Qualifying business entities must have a physical address in the US or another accepted country.

Pros and Cons of Revolut Business Account

Pros of Revolut

  • Multiple types of business accounts available, including free plans and different tiers for companies and freelancers
  • Cash back on paid plans
  • Fee-free foreign transactions in many countries
  • Team expense management
  • Unlimited team members
  • 24/7 support
  • Generous rewards programs
  • Integration with Xero, Slack, Quickbooks, and more

Cons of Revolut

  • No cash deposits
  • 2% fee on cash withdrawal
  • No cash back on free plans

Revolut Pricing and Features

Revolut offers two main categories of business banking accounts: Company and Freelancer. Company accounts are designed to be opened under your business name while Freelancer accounts are for those that want to open an account under their personal name. There are four tiers of Company accounts and three tiers of Freelancer accounts. 

As with other banking service providers, you get more perks the more you pay per month for your plan. For example, the Free plan doesn’t get cash back, while the next tier up, the Grow plan, does get cash back. The Grow plan is $39.99 per month, though, so you have to determine if the 1.9% cashback up to $10,000 is worth the monthly cost of maintaining the account.

Rewards and Benefits

  • 1.9% boosted cashback up to a specified amount based on account tier (1.5% beyond that point)
  • Plastic company cards
  • Virtual company cards
  • Free international payments
  • Bulk payments
  • Spend like a local in 150 currencies
  • Hold an exchange in 28 currencies
  • Invite unlimited team members
  • Transfer approval
  • Manage your team’s expenses
  • 24/7 support
  • Business API integrations
  • Connect to Xero, Slack, QuickBooks, and more


The Company category of accounts includes:

  • Free
  • Grow ($39.99/month)
  • Scale ($149.99/month)
  • Enterprise (Must contact Revolut for pricing)

The Freelancer category of accounts includes:

  • Free
  • Professional ($9.99/month)
  • Ultimate ($39.99/month)

Revolut has something for every business. Whether you are just starting out and need a free business banking solution or you are willing to pay a fee to take advantage of cost savings and cashback perks, you can find an option with Revolut. It’s up to you to determine the right balance of cost and rewards for your specific business needs.

Customer Reviews

Revolut has numerous positive reviews on Capterra, with a total score of 4.1 out of 5. Reviewers say the banking solution is easy to use and feels very secure. Many reviewers mention the benefits of having access to virtual cards, either for one-off payments or for more frequent payments. They also frequently mention the benefits of Revolut for international travelers. The currency converter is easy to use and reasonably priced. 

There are some negative reviews for Revolut as well. These mention the difficulty of getting in touch with customer service. They also complain of the lack of certain expected functionality you would get from a traditional bank, like direct debits and setting payment dates. 

Overall, Revolut has many more positive reviews than negative ones for its business banking services.

How Does Revolut Compare?

It’s always helpful to compare financial service providers with one another to get a better idea of which are appropriate for your needs. Let’s look at how Revolut compares to another popular online-only banking solution, Lili

Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.


Free and paid account options available for US and EU entities.

Tailor-made to help freelancers manage their money. 

Visit Website


No fees and unlimited free transactions.

Tailor-made to help freelancers manage their money. 

Visit Website

Final Thoughts on Revolut

Revolut stands out because of its wide variety of business account types and pricing. It offers everything from free accounts for small businesses and freelancers up to custom-priced enterprise accounts for bigger businesses. If you are looking for an internationally-oriented online banking solution, Revolut probably has something that will satisfy your needs. 

Revolut is not necessarily better than other business banking solutions, but it is versatile. That makes it worth considering for most businesses searching for business banking.

Frequently Asked Questions

What is Revolut Business?

Revolut Business is the business banking branch of Revolut, an online-only banking services provider. It includes a variety of accounts for both incorporated businesses and freelancers. 

Is Revolut Business a real bank?

Revolut Business is not a real bank, but it is backed by a real bank. Revolut is a banking solutions service provider that offers business checking, business credit cards, and a variety of other banking options. 

How do I get approved for Revolut Business?

Getting approved by Revolut is easy. You just need to have a physical address in one of the countries it services – including the US and EU countries – and fill out an online application.