Slow progress?

Hmmm… this business community page appears to have gone a bit stale, and I haven’t really seen any further progress on the business side of things when I originally joined.

I really wish you had some kind of roadmap page so we know what things you are actively working on or if a feature has been abandoned.

I am looking to move business accounts from my highstreet bank, and I’d have loved to move to Revolut, but given a number of vendors I work with only allow payment by direct debit, I can’t
move to Revolut Business.

In addition, I sometimes receive cheques, and as far as I am aware, there is absolutely no way to deposit this.

We’ve also been promised US banking details since times began with the accounts, and not really heard anything since except “we’re working on it!”.

All in all, I’m a huge fan of Revolut, but I do hate the fact things are feeling a bit relaxed on implementing features, beyond a couple of extra perks, payment approvals, and xero integration.

Thanks,

James

3 Likes

I ended up having to use starling for the “proper bank account”, transferwise for collection and revolut only for exchanging.

it’s sad.

4 Likes

Yes, it is a shame there is not one facility out there that offers a full end to end solution, with a competitive offering across the entire spectrum of portfolio services.

4 Likes

If Starling get around to doing EUR business accounts, it will do everything for you.

The personal EUR account lets me exchange at the market rate for free with no markup, no limit.

2 Likes

I’m also eagerly waiting for them to launch business EUR accounts, but my primary currency is USD so I can’t get rid of transferwise until :r: finally provides local accounts in USA. I don’t see :r: ever replacing my starling account at this pace though.

4 Likes

Hi all,
I opened a Revolut Business acount recently and I also happen to write (try to write) a review about that Revolut Business offer.
I had no idead it would be so difficult when I planned that review. Actually It’s very difficult to find basic infos and some of the FAQs seem to be contradicting each other.
Lots of questions in the forum are rather old so I think the answers may be outdated. Same for the Business Terms of Service in the legal part of the site that has not been updated : the freelance plan is not mentioned !
So many things seem conter intuitive to me :thinking: So since people here seem to be super specialists I hope you’ll be able to help me figuring these out :

-The ATM withdrawal fee for a business card is 2% from the start ? For all plans, even the super expensive Professional one ?
I’m surprised that the withdrawal is free until 200£ and then 2% fee for the regular accounts but that they are charging pro customer from the start.

  • If I read well, there are no insurance plans for Business accounts, of any kind (travel, mobile phone…) (That is also super weird)

-Are there any differences between the Start, Standart and Professional plan other than the monthly income allowed and the fee that Revolut charge monthly ?

-Can we use offline POS with the Business physical cards (pre-authorization system) ? And if so what is the minimum amount that should always be on the account ?

That’s all for now. Thank you for reading !

1 Like

Exactly the same situation - I may check out Starling… reluctantly. As everyone above said, Revolut could sweep the market if they got their stuff together and replicated everything needed in to one account.

For @steph.charp -

ATM - Yes, its 2% for all ATM transactions, no free amount.

Insurances - No perks, beyond some affiliate referral discounts with b2b companies.

Differences between plans - Correct, feature set is identical, just amount you process demands higher price. (Edit: Freelancer vs Limited company has restricted quantity of cards and users).

Offline POS - No, they are still a virtual card and adopt same restrictions as standard Revolut cards.

3 Likes

at least when I did the onboarding it felt like there was only one person at other side, collecting documents to be sent to saxo for review and approval. The process took over 3 months.

I don’t see :r: taking businesses seriously at all.

After two (?) years they still don’t support direct debits in the UK, and even if the new sort-code works a lot better than the previous, it still belongs to a third party.

It’s also quite absurd that the unique IBAN for EUR via Swift is different than the IBAN for EUR via SEPA.

The idea of managing employee cards is awesome, but they are tagged as prepaid so they can’t be used for hiring cars or booking hotels, and the weekend markup is BS. It should be deferred like every other card. Consequence is the cards are pretty useless.

And for collection, we don’t get local accounts in non-eurozone EEA countries. SWIFT only, despite being considered supported countries.

So much wasted potential.

3 Likes

and it seems they’ve abandoned this forum… not even public announcements get shared by the team here.

1 Like