Posted on 07/11/24 12:16 pm
What is Revolut?
Revolut is a financial application designed to simplify domestic and borderless transactions. Founded in 2015 by two entrepreneurs of Russian and Ukrainian origin, it has since gained over 30 million private users and more than 500,000 corporate clients, receiving recognition from over 200 countries worldwide.
Revolut operates on a subscription-based model with a free plan. The app allows users to manage and save their funds across multiple currencies, offering hassle-free financial tools for everyday operations. To better understand Revolut's features and registration process, read on below.
Revolut Features
Revolut primarily operates through a mobile app, offering various advantages such as multi-currency accounts and seamless inter-bank money transfers. Users can access the app in 29 national currencies or use it globally in over 150 currencies. Revolut also supports cryptocurrency trading, making it a versatile financial tool.
Revolut’s fee structure is flexible and varies by country, with commissions generally ranging from 2-3% of the transaction amount. The platform also offers debit cards, savings vaults that earn interest, and other financial services.
Revolut's subscription plan includes benefits like unlimited spending and exchange, discounted transfer and withdrawal fees, better exchange rates, cashback options, travel insurance, premium cards, purchase protection, stock trading, and more.
Business and freelancer accounts start with a free plan, which is linked to the amount of funds processed through the platform. Paid plans are available with additional benefits for high-volume users. For detailed terms, it's best to refer to Revolut's official website.
Revolut is a highly secure platform. It was granted a European Banking License in 2018 and is regulated by the Bank of Lithuania, implementing advanced security protocols to protect user data and transactions.
How to Create a Revolut Account as an Individual
Revolut allows private users to register in Europe, Asia, and the USA. The registration process may vary depending on your location, but here’s a general guide:
The phone number is crucial for security and notification purposes. It ensures the safety of your account and helps prevent fraud, as it is used in verification codes and for other security measures.
Can I Have Multiple Revolut Accounts?
To open a Revolut account, you need to provide a valid phone number, residential address, and email. While it’s possible to use alternative details like a secondary address or a fake email, you still need a unique phone number for each account. This can be inconvenient if you need to create multiple accounts, but there is a workaround using virtual phone numbers.
Creating a Revolut Account Without a Personal Phone Number
SMSOTPVERIFY provides disposable and rental virtual phone numbers, which are ideal for users who wish to maintain privacy or create multiple accounts. These virtual numbers are cloud-based and not tied to any physical SIM card, offering greater flexibility and privacy.
Here's how to use a virtual phone number for Revolut registration:
With SMSOTPVERIFY, you can create multiple Revolut accounts while maintaining privacy and avoiding the need for multiple physical phone numbers.