Review Revolut: Revolut is the best neobank in the world — fee-free currency exchange

Detailed Review

Revolut was founded in London in 2015 by Nikolay Storonsky and Vlad Yatsenko, both former traders and engineers at Credit Suisse and Deutsche Bank. Storonsky was frustrated by high exchange rate fees charged when traveling — a problem every expat and traveler experiences. Revolut's solution: the true interbank rate, no markup, no hidden fees. This simple pitch attracted 100,000 signups before the app even launched.

Revolut is the fastest-growing neobank unicorn in Europe, reaching 45 million users and a $45 billion valuation — larger than many traditional banks with 100 years of history. Its speed of feature rollout completely outpaces traditional banking: crypto trading, stock investing, travel insurance, eSIM, hotel booking — all integrated into the banking app. "The super app for personal finance" is the vision Storonsky is executing.

Revolut <18 for under-18s with parental controls is smart product insight. Reaching Gen Z early while financial habits are forming is a long-term retention strategy. Revolut Business for SMEs with company cards, expense management, and competitive FX rates is gaining market share from incumbents like Barclays Business. Deposits up to £100,000 are now FSCS-protected in the UK after receiving a banking license.

Strengths

• Exchange 150+ currencies at real interbank rates — saves 3–5% in fees compared to traditional banks
• Instant international transfers at extremely low fees — ideal for freelancers receiving money from abroad
• Instant virtual cards for online shopping — no risk of your real card number being exposed on unfamiliar websites
• Automatic spending analysis by category — know exactly how much you spend on food, transport, and entertainment

Areas for Improvement

• Does not directly support VND — Vietnamese users need to operate via a foreign currency account or an intermediary
• Customer support is primarily through in-app chat with no phone hotline — difficult to resolve issues quickly in an emergency
• Accounts can be temporarily frozen when unusual transactions are detected — very inconvenient when you need funds urgently

Verdict

Revolut is an excellent choice for anyone needing a powerful tool in the Mobile App category. Founded in 2015 by Nikolay Storonsky (CEO, Russian) and Vlad Yatsenko (CTO, Russian/Ukrainian), this product has undergone years of development and continuous improvement. With a rating of 9.3/10, it ranks among the best in its segment. We encourage you to try the free version before deciding to upgrade.