Revolut, a British fintech company, meets users' needs quickly and easily through its online account opening service. This article will detail Revolut's account types, account opening conditions and specific processes to help users better manage their finances overseas.

Introduction to Revolut

Revolut is a UK-based fintech company founded in 2015 and granted an EU banking licence in 2018. Currently, Revolut provides digital banking services mainly in Europe, the US and some Asian countries.

Revolut's main services include integrated currency accounts, debit cards and international money transfers.Revolut accounts support more than 25 currencies, and customers can not only enjoy the convenience of exchanging foreign currencies without fees, but also use foreign currencies to invest in cryptocurrencies, funds stocks and other financial products.

Revolut Account Opening Conditions

To apply for a Revolut account, you only need to meet the following two conditions:

1. Be at least 18 years old (13-17-year-olds can apply for a Revolut18 account with parental consent).
2. Legally reside in the European Economic Area (EEA), Australia, Singapore, Switzerland, Japan, the UK, Brazil, or the USA.

Revolut offers three tiers of accounts, with monthly fees ranging from US$0 to US$16.99. Higher-tier accounts come with more services. For users who frequently exchange currencies, travel, or have higher deposits, the Premium or Metal accounts may be more cost-effective than the free Standard account.

Revolut Account Types and Monthly Fees

• Standard Account: Monthly fee of US$0, offers 10 fee-free transfers per month, and an annual interest rate of 2.5% on deposits.
• Premium Account: Monthly fee of US$9.99, provides unlimited fee-free currency exchanges from Monday to Friday, 90-day purchase protection, an annual interest rate of 3.9% on deposits, and medical and travel insurance.
• Metal Account: Monthly fee of US$16.99, includes expedited delivery of an 18K metal debit card, unlimited fee-free currency exchanges from Monday to Friday, 90-day purchase protection, an annual interest rate of 3.9% on deposits, and medical and travel insurance.

All Revolut accounts have no minimum deposit requirement, with the most basic Standard account being fee-free and including a free debit card.

Revolut Account Opening Required Information

Revolut's online account opening process requires the following documents or information:

• Personal details (e.g., name, address, phone number, SSN or ITIN).
• Identification documents (e.g., passport, driver's license, green card).
• Proof of residence (valid U.S. visa).

Revolut Account Opening Process

Revolut's account opening process is very straightforward:

1. Download the latest version of the Revolut app from the App Store or Google Play.
2. Open the app, enter your U.S. phone number, and receive an SMS verification code.
3. Fill in your personal details and address, and upload identification documents and U.S. visa.
4. Follow the app instructions to upload a selfie for identity verification.
5. Complete the account opening and wait for system review.
6. The Revolut card usually arrives at your address within 7-8 business days.

As one of the most popular digital banks today, Revolut supports accounts in over 20 currencies, and its debit card can handle transactions in more than 140 currencies, making it very convenient for both daily consumption and overseas travel.

Note that it's best to exchange currencies on weekdays, as there is an extra 1%-2.5% fee on holidays. Despite the somewhat complex fee structure, Revolut still offers significant advantages over traditional banks.