Revolut for Business 🏢


#1

###Revolut for Business


We are excited to announce that we will be launching Revolut for Business soon.
Click here for some of the key features you have been asking for.

We’re building a transparent, low cost platform designed to suit your business needs. We need your feedback to help us build a product you want. All opinions, views and suggestions are welcome.


Business account
#7

#9

Great idea. I would certainly use it for my business.
It would have to have an option within the app to somehow print out the invoice for various fees that occur during use of card. The invoice would have to include also the TAX ID number that we use in EU.
Cool idea.


#10

Great, it’s part of the Investors’ deck! :wink:

Can you provide details now about what you will have to offer/which countries will be concerned? :slight_smile: Happy to be part of the Revolut-ion! :tada:


#11

I also think Premium Business accounts would be we great feature to add.

@mike, are you envisaging having your employees use revolut for expenses when abroad or are you more interested in using revolut to pay suppliers in other currencies?


#12

Well my primary use would be for expenses for employees. Altho, now that I think of it, money transfers would be a nice addition to our payment options. But as I deal only within EU, money transfers are cheap anyways.


#13

Cool; who do you use at moment to do money transfers from gbp to euro ?


#14

I am from the EUR zone country, and even with companies that I deal with in the UK, they either have EUR accounts so I can use SEPA payments or they have accounts in places like Germany or Luxembourg.
I realize if I start dealing with some new markets outside of EMU, that something like Revolut could significantly help me with cheaply and easily transfer the money across the globe.
It would be cool that business account would have an option within the app to store the pics. of the paid bills for expenses. That would be cool.


#15

Our small company (50 employees) would definitly not use Revolut. We do not like the idea to have to fund (prepay) the different accounts of our employees. I believe a “real” credit card works better for us.


#16

Well, to some extent I agree with you. But I guess it depends on what part of the world your employees travel. Within EMU regular credit cards indeed might be an easier and better choice. But If you have a lot of trips to countries with different currencies, the savings might be significant.

The problem with topping up of each employee card could maybe be solved with some kind of joint account linked to all the cards or something…


#17

I’m thinking more of the challenge of paying suppliers.

At my company we have just outsourced app development to a company in Vietnam, who we have to pay in VND.

Sure there are plenty of other EU companies like us with similar suppliers who would value an easy, automated way to pay monthly invoices via revolut?

thoughts @Mike @SwissGunung ?


#18

Well yeah, you are right, and it would be convenient to do that. Actually you already can wire money to Vietnam, but not VND currency. I guess the first step would be for Revolut to eventually introduce all the world currencies that are traded or pegged to other currencies.
I would be happy to have a system I can rely on… if anything like this would be implemented. But I am guessing we are long way from anything like this to be operational.


#19

As a beginning a SEPA-capable EUR-denominated IBAN account + the usual great currency exchange using the card would be a great offer.
If you could extend this with a few other account numbers (eg.: a USD account and an SGD or HKD account) with free incoming wire transfers and cheap outgoing wire transfers, then you would beat traditional banks for sure.


#20

If you were going to do this it would be great to integrate with expenses systems like Concur. Uber integrates well with Concur and you can just send your trips. If you could do the same with Revolut this would be a huge deal and give you the edge :wink:


#21

I’m doing business with a UK based client. Their payments are directly to my Dutch account which incurs costs and a not so optimal exchange rate. Next to that I have to pay costs eg Hotel from my Dutch account as well. It would be nice to have the option of Revolut for business to pay and receive money. Receving money from third parties is currently not supported. Since I have a limited amount of clients I would not mind registering the clients with revolut. However it might be difficult to get the clients finance department to put in the Revolut reference number on payments.

My three requirements would be that it’s separated from my personal Revolut, my Company name must be on the transaction overviews / statements and it can be exported in MT940 format.


#22

I would definitely consider using revolut for my eu based company we only hold usd and would like to pay contractors in eur, cad, gbp, aud, rub,zar. If we pay through bank we get less favorable rates especially for lower amounts (less $10k).


#23

#24

Would definitely use this for my business. We’re based in the UK but have to pay a lot of expenses to US companies in USD which incurs a lot of costs with other services.


#25

I already use it for business.

Each time a new employee starts we direct them the get a revolut card and then we send them money as and when they need it and they photograph and send us receipts.

I would like to see some business options but not if it means some kind of premium account that has to be paid for.


#26

I’m a small freelancer and not willing to pay (much) for a business account at a bank.
Currently I just mix with my personal expenses (which is ok, since there are like 15 incoming payments and 20 outgoing expenses per year only).
The possibility to receive payments onto a separate Revolut business account, especially if possible in multiple currencies, would definitely be a big, big product for me.