Business card limits - set in stone?

#1

The business card limits specified in the Business FAQ suggest they’re hard-coded:

What are my Revolut for Business card limits?
Maximum daily ATM withdrawal €2,200 (or currency equivalent)
Maximum yearly ATM withdrawal €100,000 (or currency equivalent)
Maximum daily activity €5,000 (or currency equivalent)
Maximum yearly point of sale activity €100,000 (or currency equivalent)

A few questions:

  1. Is this true of all account tiers? e.g. if one is paying £1,000 per month for the “£1M+ per month” transaction volume, would they face the same limits?

  2. Is this per card? Or total?

  3. Does this apply to both the physical and virtual cards, or just physical?

  4. What happens if the limit is exceeded? Will the card just decline?

  5. Does it reset at midnight? Which timezone?

  6. Is the limit always based on EUR as a base currency, and at live Interbank rates? e.g. if I had 90 GBP left to spend but the exchange rate moved in my favour so that I then had £100 to spend, would a charge be successful for £99?

  7. Can limits be raised, or are they set in stone?

Some of these questions are purposefully pedantic to tease out the finer details, so I know exactly how this compares to a regular bank debit card.

#2

Hi there.

The limits are the same for spending, only limits for uploading funds are different and it depends on the plan you choose.

It is per card.

It applies for every card you have.

Yes, the card will decline.

It will reset after 24h from the last transaction initiated.

When you spent in GBP and you have available balance in the GBP currency then it will be deducted from GBP. If not, then it should be deducted from EUR balance. “Generally, for major currencies during FX market hours we offer you the interbank rate. However, in certain circumstances, it is not possible to provide you with the interbank rate including when the FX market is closed on weekends or on bank holidays or when your Exchange Rate involves illiquid currencies. It may also not be possible to provide you with the interbank rates due to other external factors such as volatile market conditions, a system failure of Revolut or any other external factors. In such instances, we might provide you with FX rates different from the interbank rate.”

#3

Thanks @jessicaszabla.

You said it depends on the plan you choose. Could you please break down the limits for the £25, £100 and £1,000 per month plans respectively?

Currently, the FAQ only shows this:

Maximum daily ATM withdrawal €2,200 (or currency equivalent)
Maximum yearly ATM withdrawal €100,000 (or currency equivalent)
Maximum daily activity €5,000 (or currency equivalent)
Maximum yearly point of sale activity €100,000 (or currency equivalent)
#4

My pleasure @itsmelee.

Card limits are the same for all pricing plans. The only difference is in monthly top up and transfers out volume.

#5

Thanks @jessicaszabla, but I’m still a bit confused…

What does “monthly top up” mean in a business card context? The £1,000 plan, for example, is for > £1M GBP incoming funds per month… how is a business making more than £1 million per month supposed to cope with a maximum of £5K per day in billables? A single Google Adwords or cloud hosting bill for a company of that size could be 10x that amount.

(I realise that funds can be sent via bank transfer, but it’s far more common to simply attach a Visa/MC-- indeed, with many services, that’s the only option.)

Seems like a very low cap for a company paying £1,000 per month. I’ve charged £10K and higher to a regular high-street bank business debit card in a single transaction, even without monthly fees and far lower inbound volume.

Is this a restriction of your partner bank… and do you have plans to increase this later on?

#6

Hi @itsmelee

Apologies for the delay in getting back to you.

The monthly top-up is in accordance with the pricing plan, which you can find here: https://www.revolut.com/pl/business/pricing?lang=en

We are going through a process of reviewing this at the moment, so it’s subject to change.

#7

Thanks @jessicaszabla.

IMO, daily and yearly POS activity needs a serious overhaul. It’s unfeasible that a business doing > £1m per month (i.e. the £1k/mo plan) is limited to £100k/yr in card transactions.

That’s just 0.83% of the total minimum incoming volume that the business would be processing to be on that plan in the first place.

Seems odd that the card limits are identical, regardless of whether a customer is paying £25 per month, or £1,000!