Tuesday, September 28, 2021
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Business Banking – Revolut

What are the benefits of a Revolut business bank account?

  • Setup is online
  • An account can be setup within 1-7 working days
  • Integrates with quickbooks and zero
  • Process bulk transactions
  • Single dashboard
  • Discounts available from multiple companies
  • Can hold up to 28 currencies
  • Lower fees and better exchange rates
  • Can be used for payroll
  • Mobile App
  • Setup multiple employees with monthly spend limits
  • Fee structure transparent and simple

What are the costs of a Revolut business bank account?

Using the free version there is no monthly subscription and the following transaction fees apply

  • €5 per month for each additional team member
  • €0.20 per additional local transfer (5 free)
  • €3 per international transfer (0 free)
  • Payments from UK & EEA cards 1.3% per transaction
  • Payments from other cards 2.8% per transaction

What do I need to open a Revolut business bank account?

If you are a sole trader you will need to provide them with ID and proof of address. If you are a company you will need to provide the same and for each shareholder who has a holding above 25%. You also need to provide the following if you are operating as a company:

  • Proof of company’s registered address
  • Proof of company’s operating address
  • Proof of the nature of your business
  • Proof of director structure
  • Proof of shareholder structure

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