Hey - hopefully business accounts will be available with the next few months.
Sounds great, I’d apply soon when my company is going more international. Have you some prices out for the business accounts already ?
So basically it will be Q3.
So, here is my thoughts on Revolut business
First, my business, I am a freelance sole trader, I already use revolut, I travel for work maybe 15-20 times a year and this is almost exclusively in Europe. All my clients are UK based however, so I always get paid in GBP.
I don’t know if you are aiming more at a spending account or a more full range banking service for business customers, but I will be looking at using Revolut business as an expense account, primarily for my business abroad but, should the fee structure work, possibly for my UK expenses aswell.
As such I would want to see the following features:
Integration with business software: I have noted you already have stated your intention to integrate with xero and quickbooks, will this be from day one? Also I would suggest integrating with the larger expense platforms, such as expensify as well. I for one would be looking to spend on my revolut card and report into expensify.
Freemium pricing model: Much like Revolut personal/premium, I would want to see a basic revolut business service including certain stuff (basically a revolut personal account with added financial reporting and accounting integration) with then premium addons so users can pick and mix to create the perfect product without a massive outlay
Credit facilities: Not looking at a full credit card facility, but definitely would want to see a charge card style credit facility, much like most of the American Express cards.
Web access: Build a web portal instead of just the app. i want to be able to manage my business dealings on my laptop rather than forcing my phone.
Multi Platform from start: Don’t launch on iOS then think about other platforms, go multi platform from the start.
Thats my opinion. Would love to hear what people think on these ideas.
I agree almost completely. For integrations I would love to see Wave Accounting integration and instead of freemium pricing model a two-tier is perfect. The “free” version could involve a low monthly fee in exchange of interbank exchange rates up to ~10K EUR/month and low cost/free SEPA transfers.
Web access is also very important.
Was already notified by email
Can’t wait to start using it for my business
@mambix: I’m not sure about the new pricing. But the one that was up there last month, seemed a bit high for startups and SMEs than what other banks are charging in the UK.
If it’s cheaper than physical bank I will use it. If not then I will stay with my current bank. Easy as that
IIRC, from the first looks it did seem bit expensive than the physical banks.
I guess we’ll have to wait and confirm.
I received the email mentioning the beta launch over the next few weeks but can you share if international transfers (e.g. from a client paying in US dollars) into the account would be supported. The only reason I bank with HSBC at the moment is because they do offer an US dollar account which one could use to save up some reserves in such currency. If Revolut could offer some like that I would switch in a heartbeat.
Good news, this use case will be supported right away! Let us know if you have any additional requirements. We’ll be adding those who pre-registered https://revolut.typeform.com/to/AHk6qD to Revolut for Business beta very soon.
@andriusb Can you tell us how easy it will be for a business to get an account? Do you require the same KYC checks that a high street bank would undertake? I ask as someone working for a small UK subsidiary of a US firm that has up to now not wanted to go through the pain of collecting information from all of the investors in the company in order to set up an account in the UK.
Not sure if this topic already covered, but what about card readers?
We owen a bar and it would be great to have some kind of option to take card payments.
How is going to be taken care of security, will it be simple user/password login to the application?
Will there be an option that more than one person can login and use banking?
I check this topic daily just like a kid waiting for Santa lol
With a recurring expensive billing plan (at least from the looks in the initial offering), I won’t call it a “Santa!”
Hello, i am pre-registered for a business account but have not received any emails from you.