Hi @complexxL9 how much of that 10k GBP is in FX or all in GBP? And thanks for your suggestion re lower level subscription - we’re exploring it but will nee a few month’s data and feedback.
Hi @smanor and thanks for your insights and suggestions. I think they make sense and we’ll find out the right balance over time. Thanks again.
Thanks for breaking down a regular business banking business model which has been overcharging businesses many many years. We aim to create enormous value to businesses, especially those which deal internationally or / and use corporate cards. Thanks!
My company was able to subscribe. Now the Managment is deciding on whether to actually activate the contract. In case we subscribe and cancel within the first month no fee is due, correct? It would help in pushing them a bit…
Hi @0xjd thanks for your comment!
I agree it looks pricy if you only count SMEs which solely deal in GBP, don’t have a single corporate card nor require an easy-to-use service. While banks in the UK may charge less (usually £5 to £15 / month) as subscription fee, they add 1-5% of FX mark-up fees which they don’t tell businesses about.
As a result, if you, for example, need to pay your supplier in France EUR5,000, you’re paying EUR50-250 in hidden fees just for this transaction alone! In Revolut’s case, it’s EUR 0 (yes, apart of a small £25 monthly fee).
I hope that explains the value we deliver for businesses no matter how small they are. If you require further explanation or want to discuss a specific case, just drop me your phone number and I’ll call you at your earliest convenience. BR, Andrius
Revolut Business for startups/freelancers
What if my company is not interested in corporate cards? Is there a pricing option without this service?
I am on the waiting list so I haven’t been able to try the account yet, but have a question. My main requirement is to have an account for inbound payments from abroad, in USD and EUR which I need to then access in the UK and convert to GBP. Will Revolut for Business offer the facility for our clients to make transfers from abroad, if so, does the account come with its own unique IBAN number and how long does it take you to process inbound wire transfers?
Hi @siggi - your requirements sound like a perfect match with our solution. You will be able to collect your inbound payments in USD, EUR, and other 20+ currencies. All these currencies come with their unique IBAN. Depending on the Sender’s bank, it’d take 1-2 biz takes to process inbound SWIFT/BIC transfers. Let me know if any additional questions, Andrius
Hi @caprotti - not at the moment, unfortunately. They are value added service but no obligation to sign up for them if a business doesn’t need the solution. Let me know if any additional questions. Andrius
Thank you, @andriusb. That’s very useful to know. What is the SWIFT/BIC information for the USD accounts? Are they held with an UK bank or with an American bank? My USA clients actually prefer to pay with a wire transfer to an UK bank rather than an USA one (for accounting reasons, as my company is in the UK).
I signup for our compagny based in hong kong.
Do you have any ETA for compagny outside EU?
Thanks! In case we subscribe and cancel within the first month no fee is due, correct? It would help in pushing them a bit…
Hi, we currently are on the “waiting list”. Will we be notified automatically when it’s available in our country?
Revolut Business with a payment terminal with better rates or low fees than world pay or izettle.
izettle charges are 2.75% means, in a £5,000 basis x 2.75% = £137.50 of charges.
Bring Revolut ethos to this side of a market, so small business can have a choice!
Does each card need a positive balance individually or it is the total Revolut account that needs a positive balance?
Seems to me a bit complicated to maintain a balance on each card.
Also, how can I receive check and card payments from customers to my account? Or should I consider this service only for employee expenses?
All your cards are connected with your Revolut Wallet, to be more precise you have the same balance on all cards!
Good thing is that you can set spending limits to each card.