Revolut Business for startups/freelancers


#1

Hi,

My concern/question is regarding your Revolut for Business pricing tiers. I understand that, as a business, Revolut is aiming at the larger scale of SMEs - this is fairly obvious based on the pricing tiers.

However, there is a very large market of freelancers and micro-businesses that are not served by Revolut for Business today. My guess is that many would hesitate to commit to your lowest pricing tier, given that they don’t really need 100k a month of foreign exchange or all the features (such as the API, or multiple employee spending cards, etc.).

As the owner of pretty small SME, I’d be interested in a solution whereby I can purchase 10-25k of foreign exchange a month. I own an e-commerce company and live in Switzerland. So much of my revenue is in foreign currencies (e.g. USD, GBP, EUR, etc.), while I have personal expenses in CHF. Looking forward to hearing back from you.


#2

They’re thinking about it.


Need to keep in mind that a flat fee is always better than percentage fees.


#3

Got it - thanks for the information


#4

Hello,

I am a new freelancer in the UK but contracting with a Ducth company so I’m paid in Euro.
I’ve received few days ago my first payment in a GBP bank account and Metro Bank ripped me off about 150 pounds by using a very bad rate ( they took about 3% margin compared to interbank rate ).

I’ve just registered to Revolut in order to use it as my main bank account and for me the most important things to add asap are : direct debit, FreeAgent compatibility and the possibility to link a business revolut account to a personal one so I can easily pay myself a salary and dividends.

Regarding the pricing, it would be nice to have a new category for companies receiving less then 15k as we don’t have the same needs/limits as biggest ones.

I hope my registration will be validated asap ( I am queued in position 720 ) :slight_smile:


#5

Revolut for Business is onboarding customers at capacity.

Foreign exchange startup Revolut has 16,000 business customers four months after launch.


#6

I’ve got my account validated :slight_smile:
I am just asked for a proof of address ( driving licence is not accepted ) then I hope my account will be validated.

Silly questions :

  • I see that I have IBAN in EURO and also a sort code/acc number for GBP ( both are with my company name ) but I’m asked if I want a “Get unique IBANs” , what’s this “unique iban” ? Does it mean that the IBAN in euro and the sort code/acc number are not unique but a “shared” ones ?
  • Can I topup a business account using a visa/mastercard credit/debit cards ?

#7

2 documents is needed for cross-referencing purposes. One document for identity verification (Passport, national driving licence, …) and one document for proof of address (Utility bills, bank statement, council tax letters, …).


At the current moment it appears only bank transfers is possible.

An unique IBAN (at least for the consumer version of Revolut.) allows users to have third-party inbound transfers via their personal EUR IBAN. With a pooled EUR IBAN, customers can only accept first-party inbound transfers.

I assume it is broadly the same for Revolut for Business.


#8

Thanks a lot for your answers but regarding unique IBAN, the one I have now for EURO is in my company name while USD one for example is appearing with Revolut’s one and with a red message saying that a reference number needs to be specified in the bank transfer.

Same thing for GBP account number, when I display the “local account” I see that it’s in my company name but for internation transfers it’s a shared one.


#9

Personal USD ACH/ABA addresses are not available yet.

Same with personal GBP IBANs.

I assume that the third-party limitation for pooled IBANs don’t exist for Revolut for Business.