Review: Revolut for EUR to PLN Business Transactions

Revolut is a secure payment system that allows you to perform transactions such as:

• Cash withdrawal;
• It is possible to calculate not in one, but in several currencies, this can be convenient when traveling.

All this is possible due to the fact that the English bank issued a MasterCard plastic debit card. But that is not all. The main feature of Revolut is that users can convert currencies at the exchange rate.

Currency exchange is a service that consists in exchanging one currency for another. Such transactions take place through the mediation of the exchange office. When traveling to another country, you need to exchange your currency for the currency of the country you are in. Therefore, it is important to explore different ways to exchange, as the exchange rate will depend on this.

If you are in another country by business, then Revolut business will help you work with the currency correctly.

The most significant advantages of Revolut:

• Card replenishment is available (you can do this by transferring from an ordinary bank card to a revolut card). Such replenishment will be completely free;
• It is possible to withdraw cash from the card anywhere in the world, and it is absolutely commission-free. But there is an important nuance here: revolut itself does not take a commission, but there is no guarantee that the ATM owner does not take it. If the card is free, then 200 euros are available for withdrawal per month, everything above this amount is subject to a revolut commission of two percent;
• The currency is converted by the exchange. Even if we take into account a commission of 2% and conversion, it still turns out to be much more profitable than doing the same through a regular card.

Revolut Limitations:

• The system does not show detailed information about the price of shares and companies, and therefore users can only trade certain securities;
• Payment by QR code is not available through the mobile phone application. Given that this option is currently very popular, we can say that this is a significant omission, although not a critical one;
• The user cannot make the usual bank transfers, because in fact the account is located in the UK, and therefore SWIFT and BIC may be required for the transfer. The one who receives the transfer will definitely see that the money came from abroad.

What about the exchange rate?

The exchange rate primarily depends on the day of the week. When converting currencies from Monday to Friday, the interbank exchange rate works for any currency except THB and UAH. For these currencies, a surcharge of one percent is set, and in addition, a commission of 0.5 percent for all transactions that are more than 20,000 PLN (5,000 euros).

For weekends (which are Saturday and Sunday London time) all quoted rates are fixed to protect against fluctuations. This means only one thing, the system sets additional allowances:

• + 0.5% for all major currencies (USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN, CZK);
• + 1% for all other currencies, which include THB, UAH).

Getting a Revolut card

If you live in Poland, getting a Revolut card is very easy. In order to successfully register with Revolut, you will need one of the following documents:

• Pole's card;
• Visa;
• The right to permanent residence.

The instruction by which you can order a card is very simple to follow.

1. First of all, open the revolut website and enter your phone number. In a response message to your phone, you will receive a link where you can download the application to your phone.
2. The second step is to install the application. It can be downloaded from both Google Play and the App Store.
3. When the app is installed and you open it, you will need to come up with a pin code. You need to remember it, because in the future you will enter it every time you log in.
4. After setting the pin code, it is necessary to complete the registration process, it is important to understand that only real data must be indicated. First of all, take a picture of an identity document, as well as a self-portrait. The second photo is needed so that the person who will check these documents can make sure that you are you.
5. As soon as you do this, you will immediately need to replenish your account with 20 PLN. Your Polish card is ideal for this operation.
6. Moreover, you can immediately use a virtual payment card.
7. In order to order a plastic card, you will need to specify the data, which includes data with the address to which the card will be delivered.
8. There are two delivery options: either the card will be placed in the mailbox, or a notification will come, according to which you will need to receive the card.
9. The card itself will be issued free of charge, but you will have to pay for shipping. Delivery of the revolut card to Poland will cost 9 PLN.

Why you need a Revolut card

The first thing this card can be useful for is to pay when traveling abroad. This happened due to the fact that the exchange rate with Revolut is more favorable than when paying with a regular bank card.

Thanks to the Revolut card, security is ensured. For example, you can top up the card for one hundred euros, and even if you lose it, the entire principal amount of money will not be lost. In addition, Revolut monitors suspicious transactions on the card and blocks them on its own.

A very important point with the replenishment of REVOLUT account from abroad. You can safely replenish the card from a Polish account, and then use it to withdraw cash or pay in any country. In addition, there is no commission for international transfers, and therefore the exchange rate is very favorable.

Revolut device

Cheapest EUR To PLN Exchange With No Hidden Fees

Did you know that you can easily open a multicurrency account on which you can hold many currencies, such as EUR and PLN among others, and convert your EUR to PLN or your PLN to EUR at anytime with a few clicks and some of the world’s lowest fees?

Free registration

At its core, Revolut is an analogue of the usual banking, initially only a prepaid card was available, but a lot of time has passed since then and the range of services has been significantly expanded. So what can the REVOLUT Business do?

• Cryptocurrency exchanger (a very relevant thing, given the popularity of cryptocurrencies);
• Travel insurance;
• Cost analysis;
• Making transfers abroad;
• Interest is charged on the balance;
• The ability to split the bill with someone who does not use Revolut.

The priority goals of the company are not the creation of banking in any one country, but international expansion.

Revolut Pricing Plans

Currently, the system has only four tariff plans. Let's consider them in more detail.

Standard.

This is a free tariff, according to which the client receives a card for free. The withdrawal limit is set at 200 euros per month, or five withdrawals. Interest is charged on the balance of funds - 0.15% per annum. Currency exchange at the interbank rate is also available with a limit of no more than 1,000 pounds sterling per month. If you need to change the cryptocurrency, then the commission will be 2.5% of the amount.

Plus.

This plan costs 2.99 euros per month and primarily includes the same as the free plan. However, the interest on the balance changes - with such a tariff plan it increases to 0.3% per annum. Ticket insurance is available for various events, this service is available in all countries except the United States.

Premium rate.

It costs 7.99 euros per month. If you have activated such a tariff plan, then first of all you will receive free express delivery of the card. The monthly cash withdrawal limit is increased from 200 to 400 euros. You can also make one international payment without commission. The interest on the balance also increases - at this rate it has a size of 0.65%. If you are going to change currency at the interbank rate, then you will not face any restrictions. If we are talking about the exchange of cryptocurrency, then the commission becomes 1.5%. Traveler health insurance is also becoming available, as is luggage insurance.

Metal.

This tariff is the most expensive in the system - 13.99 euros per month. It includes all the features of the premium plan. The cash withdrawal limit is increased and becomes 800 euros. Also, the user receives an exclusive metal card and cashback in the amount of 0.1 percent per annum in Europe, and outside it - 1%.

Frequently Asked Questions

What benefits does Revolut offer for businesses conducting frequent EUR to PLN transactions?

For businesses, Revolut offers benefits like real-time exchange rates, low conversion fees, and the ability to hold and exchange multiple currencies. It also provides features like expense tracking, bulk payments, and integrations with accounting software, which are beneficial for businesses dealing with EUR to PLN transactions.

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