Are you ready to take on the world? Then look no further than Pro!
At Pro, we are committed to providing a platform that empowers professionals to achieve their goals. Whether you’re an entrepreneur, freelancer ninja, marketing wizard, or consulting genius , Pro offers the tools and resources you need to succeed.
So, spill the beans : What type of gig are you using Pro for? How has Pro helped you achieve your goals? Any tips for newbies just starting out on this platform?
We wanna know all the details, so hit us up with your Pro story!
I use Pro mainly for business expenses in foreign currencies. I used the Business before, but everything in one app is more convenient.
I do like how it’s integrated with the analytics page, and that the focus is then cash flow instead of budget. Makes sense to me.
I would like Pockets for Pro! (Assuming Pockets will get an update at some point that addresses its issues). Right now, Pockets can’t be funded from the Pro account, but I would find them very useful, even more useful, than for my personal spending.
As a UK account user can I receive USD payments from a UK company for contractor work and maintain it in a USD pot with the pro account? Going to be invoicing a company but they’ll pay me in USD most likely.
Or is the pro account only in GBP?
Also I have no website, would rather not provide my LinkedIn or Facebook account either. This appears to be one of the steps to set it up.
Hey Frank, it’s awesome to hear that Revolut Pro is proving to be useful for your business expenses in foreign currencies! At Revolut, we’re always working to enhance our platform, so we’re thrilled to see your enthusiasm for even more features.
Thanks for sharing your thoughts on Pro Pockets. We appreciate your feedback and we’re happy to inform you that an update is on the way! Stay tuned for further information.
We’re also curious to know if you utilize any of our other business features, like Revolut invoices, payment links, or Revolut Reader to manage your business income? Your insights and feedback are valuable to us as we continue to innovate and improve our business offerings.
Thanks for being a part of the Revolut community! If you have any other ideas or feedback to share, please don’t hesitate to reach out to us. We’re always here to help!
It’s great to hear that you’re using Revolut as a freelancer! We’re always looking to improve our platform and make it more helpful for all our users.
We’re curious to know which features of Revolut Pro you find most useful for your freelance work? Is there anything you feel is missing that could make your experience even better?
Also, when it comes to receiving payments for your work, do you have a preferred payment method that you use with Revolut? We’re constantly working to enhance our offerings and your feedback would be valuable to us.
Thanks for being a part of the Revolut community! Please don’t hesitate to reach out if you have any other questions or feedback to share with us.
I rarely use features like payment links. The overwhelming majority of customers just pays bills by bank transfer. I would offer it for customers in the US. But that’s relevant maybe once every 2 years or so.
I don’t use the invoice feature. I use a separate bookkeeping software for this. The Pro account is integrated there, so all transactions are more or les automatically linked with receipts and invoices there, in preparation for taxes.
Here’s an idea for a feature request: it would further help with bookkeeping if the downloaded statements (csv) would show categories from Revolut’s analytics.
Thanks for reaching out! Yes, it is definitely possible to receive USD payments from a UK company for contractor work and keep it in USD in your Revolut Pro account. When creating a new sale or invoice, simply change the currency in the currency picker to USD. You can find this option at the top of the page when creating an invoice, and in the amount input field by pressing a small icon next to where it says GBP. Once the sale has been created in USD, your customer will see that the amount you are charging is in USD so you will receive USD funds. These funds will be held in your USD Pro account, which you can view by using the currency picker in your Pro homepage where your balance is shown.
Out of curiosity, what are the features you enjoy the most in Revolut Pro? Is there anything missing that you would like to see in the future? Let us know if there’s anything else we can help with, we’re always happy to assist!
What’s a business expense is defined by local tax law and the nature of one’s business. It varies.
Revolut’s terms for Pro clearly state that you shall only use it for business transactions. A breach of the T&Cs can result in immediate closure of one’s accounts. Your personal account will be affected by this as well.
What’s the real question the Youtuber is asking? Is it possible to get away with mischaracterizing personal expenses as business expenses for personal gain?
The test the Youtuber is planning is a stupid idea. It’s meaningless. Whatever outcome their experiment shows, it cannot be applied to someone else’s situation.
So the answer to your question isn’t how Revolut characterizes expenses. The question would be how reasonable and convincing are your arguments when they ask you about it.
@Frank is right. What is or isn’t a business expense is very clear. How does Revolut (or any other bank for that matter) distinguish between business and personal use? That’s the more interesting question, and often they can’t. To stick with your printer example, they really can’t know what you use it for. But I think that’s not the point here and I’m willing to bet they don’t care. The terms and conditions are there to protect them from (expensive/large scale) abuse. They are really not out to get you for mislabelling a dinner date as a business lunch (not that you should do that or course).
I sometimes hear from colleagues that their bank threatened to close their personal account. It usually then turns out that they cleared large numbers of cheques or cash through their personal account. With Revolut you can’t do either, but you should get the principle at play.
I bet misusing the personal account for business purposes is Revolut’s larger concern. Payment links misused as a cheap way for commercial card payments and so on. On the Pro side, it’s probably more about keeping the integrity of the service, with various third parties like Mastercard and Visa involved. If Curve’s business model change is any indication, someone wasn’t happy about they “exploited” a regulation loophole.
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Insurance related-products are provided by Revolut Travel Ltd which is authorised by the Financial Conduct Authority to undertake insurance distribution activities (FCA No: 780586) and by Revolut Ltd, an Appointed Representative of Revolut Travel Ltd in relation to insurance distribution activities. Revolut Ltd is an Appointed Representative of Lending Works Ltd for the activity of “operating an electronic system for lending”. Trading and investment services are provided by Revolut Trading Ltd (No. 832790). Revolut Trading Ltd is an appointed representative of Sapia Partners LLP (No 550103) which is authorised and regulated by the Financial Conduct Authority. Revolut Trading Ltd is a wholly owned subsidiary of Revolut Ltd.