Is it worth paying more for these extras?
Revolut Plus is the cheapest upgrade to the free account. It gets you purchase protection and some increased limits and allowances. Here’s everything you need to know.
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What is Revolut Plus?
At the moment, Revolut is a digital banking app with a prepaid card, although after a long time waiting, it just got its banking licence, so it’s now officially becoming a UK bank.
Revolut Plus is one of its paid upgrades. It includes a different card and a few extra perks to its free account.
How much does Revolut Plus cost?
Revolut Plus costs £3.99 per month. There aren’t any minimum terms and you can have your first card and first replacement card sent out free.
However, if you cancel within 14 days of signing up and a Plus card has been sent out then you may be charged the delivery fee.
Revolut Free versus Revolut Plus
| Revolut Free | Revolut Plus | |
| Cost: | Free | £3.99 per month |
| Spending analysis and trends: | ✓ | ✓ |
| Instant spending notifications: | ✓ | ✓ |
| Spend and withdraw abroad for free: | ✓ | ✓ |
| Card: | Standard | Personalised |
| RevPoints: | 1 point per £10 spent | Earn 1 point per £10 spentPlus an upgrade bonus of 1,500 points when you spend £2,000 in your first 3 months. |
| Cash withdrawal limit: | £200 or five withdrawals | £200 |
| Savings rate: | 2.29% AER variable | 2.39% AER variable |
| Currency exchange limit: | £1,000/ month limit | £3,000/ month limit |
| Customer support: | In-app chat | Priority via in-app chat |
| Children’s account: | One included | Two included plus co-parent |
| Purchase insurance: | ❌ | ✓ |
Revolut Plus benefits
With Revolut’s cheapest paid-for account, you get a small bonus in its cashback scheme, slightly different ATM withdrawal rules, protection on your purchases and priority customer support, among other benefits.
Here are some more details about each perk in detail.
RevPoints
RevPoints is Revolut’s reward scheme. You get the same amount of RevPoints for your spending as with the free account, which is just 1 point per £10 spent. We’re not massive fans.
You do get a bonus of 1,500 points (worth about £15) when you upgrade to the Plus account and spend £2,000 in your first three months.
ATM withdrawals
You get slightly different withdrawal rules to the free account — rather than having a monthly five-withdrawal limit with a total limit of £200, you just get the £200 limit. This means that you can make more withdrawals, but still can’t withdraw more than £200 in a month.
Insurance
There’s only one insurance included with Revolut Plus, which you get with all of its paid accounts. This is everyday purchase insurance, which means it protects purchases you make over £50.
This covers items that are new and purchased for personal use. It includes mobile devices, but you can only claim for one mobile phone incident each year.
You’re also covered when you purchase tickets for events in the country where your account is registered.
This is up to an annual limit of £1,000 and covers sudden and unexpected circumstances.
An alternative way of getting protection on your purchases is to instead pay with a credit card to get Section 75 coverage.
Priority customer support
With all of the paid Revolut accounts you also get priority customer support. You can get help 24/7 via its in-app chat. This isn’t a perk I’m particularly fond of – you shouldn’t have to pay to get extra support from your bank and isn’t something you typically find with high street banks.
Money exchanges
You get an increased limit of £3,000 per month for currency exchange — this limit is £1,000 with the free account. This means that you can exchange up to £3,000 per month in more than 29 currencies Monday to Friday without any additional exchange fees.
After you’ve used the monthly limit, you have to pay a 1% fee.
Interest on savings
You can get 2.39% AER variable on your savings. This is easily beaten elsewhere, so it isn’t much of a perk at all.
Commission-free stock trading
You can get three commission-free stock trades each month. You’d usually get just one commission-free stock trade each month. It costs 0.25% of the order amount (or a minimum of £1) outside your free trades.
Revolut <18
You can get two children’s accounts (for kids between six and 17) and add a co-parent. The free account gets you one additional child but no co-parent.
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Is Revolut Plus worth it?
Zoe’s analysis
I think Revolut’s a great bank account, but Revolut Plus simply isn’t worth it.
It doesn’t offer anything significant — you get a few free RevPoints, a marginally better savings rate, a couple of extra commission-free trades, an increased limit on currency exchange and a couple of children’s accounts. That’s on top of “priority” customer support, which shouldn’t be a paid feature, and a slightly better ATM withdrawal limit, which is vastly better with high-street bank accounts.
The purchase protection is a good feature but you can get this type of protection by paying just a small amount of the full amount on a credit card.
It is only £3.99 per month, but even this is steep for what you get.
Revolut Plus
| Cost: | £3.99 per month |
| Benefits: | All Revolut Free features |
| 3 commission-free stock trades | |
| 1 RevPoint per £10 spent | |
| Purchase protection | |
| Priority customer support | |
| Exclusive savings rate: | 2.39% AER variable |
Customer reviews of Revolut
Over at our sister site, Smart Money People we don’t have reviews specifically for the Revolut Plus account. Revolut customers have rated the bank 4.89/5. Customers like the app and find Revolut brilliant for travelling.
Negative reviewers don’t feel like there’s good enough customer service when you need support.
You can read reviews of Revolut or share your own experience.
