For travelers and enthusiasts who like to discover the world and travel, travel, and travel. How to use Revolut for traveling around the world? For payments, whether for personal expenses, flight tickets, accommodation, or your lovely dinner by the sea, you need to have access to your funds. Even better when you travel is that the access is online so you can pay faster.
Electronic money institutions will allow you just this. Putting the fun back into sending funds. Here is how to gain a way to open a Revolut account now.
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How to use Revolut for traveling around the world?
When traveling around the world, having great access to your funds is essential.
Online money institutions like Revolut are slightly different than banks. They allow you to open and have access to the online account that you mainly use for payments, transfers, and exchange of currencies when paying internationally.
What is a Revolut account?
Revolut is a British financial technology company that offers banking services, but as of December 2022 does not have a UK banking license.
Revolut’s customers can use the physical, prepaid currency card to make payments abroad fee-free using the interbank exchange rate in over 150 currencies.
Since online electronic money institutions are not participants of the deposit protection scheme by the national banks, it is not recommended to keep any large sums in these accounts. However, they have to oblige the safeguarding laws.
Revolut itself has a safeguarding account, we can call it a customers’ account, where they keep all the money safeguarded. They are not lending money as banks so they keep this in the safeguarded account.
This account can be opened easily online even using your phone only.
How to open your Revolut account now for traveling around the world?
As we mentioned already, Revolut is a great help when it comes to sending payments online, making your bookings, and traveling around the world as you can process the payment fast. Since it is an electronic money institution, you will gain a way to open a Revolut account now online.
When you travel you may have your laptop with you, yet certainly, you will have your phone. The access is so easy.
You can open Revolut online account for
- your personal use, or
- business account
You can choose from 4 plans that also include a free option, so you don’t have to start high.
Open a free Revolut account in minutes
The best is that you won’t be asked to visit a branch or get enormous paperwork done. Opening an account with Revolut takes a few minutes. It is online and you can do everything straight from your phone.
All you need is:
- to scan the QR code and the Revolut app downloaded to your phone or
- you can do it by entering your phone number and you will actually get an SMS to your phone where you can then download the app.
Literally all the basic payment services you have available:
- payments
- making bookings for accommodations
- paying for food in restaurants
- booking and paying for flights
- paying for travel insurance
- currency exchange at a favorable rate
- International transfers
- cards
- crypto
- and even budgeting tools
Let’s travel around the world, discover places, and have fun. Just make sure that while you travel you also have income coming to your card or at least you have your savings.
It is fun to travel if you have the funds to travel.
Revolut will help you with transfers yet not with crediting money to your account (unless you are an employee of Revolut).
The Best Benefits of Using Personal Revolut when Traveling around the world
Not only for your salary and must-do but also for fun and travel, up to your business operations.
1. Free Payments
You can make transfers globally and pay around the world with your Revolut friends. Transfers are always free between Revolut friends (and you can even add a gif, apparently the kids love it these days).
2. Revolut has a great currency exchange service.
On weekdays Revolut offers competitive exchange rates with a tight spread between the buy and sell prices based on market rates sourced from third-party providers. This is true both when doing an international transfer and when you use an ATM to withdraw money.
Payment in different currencies with the interbank exchange rate is with a small 0.5% fee for anything above €1,000 each month during the weekdays.
However, one disadvantage is that when markets are closed on the weekend, fees are charged at 0.5% and 1% on currency exchange rates no matter the transfer amount.
3. You can split the bills in the restaurant easily
Do you remember that old way that you had to put the cash on the table or use the cards of each friend when paying for the dinner and splitting the bill? So you can now actually forget about it, since this is one of the coolest features of Revolut. Customers
4. Money chat included
Revolut account provides you with encrypted chat so settle and discuss any payments you do with your friends.
5. Budgeting and analytical tools for your traveling budget so you make sure you have enough
You know how you need to budget your money so you can manage your spending and also keep the money for rainy days. The budgeting app is included in your Revolut account and so you don’t have to get yourself another budget. You can also set your limits per month so that you actually stick to your budget easier.
6. Get your salary paid in
If you switch your salary payment from a traditional bank account to Revolut, you can receive your payment of salary even faster.
7. Get the payment notification
When traveling and booking, it always pays off, to have confirmation of payments at hand. Feel confident your payment is successful with instant notifications. You’ll see how much you spent and get a reminder of your daily total too.
8. Be savvy with Saving vaults
You can now even create your saving account. As soon as you get your salary in, put aside 15-20% to your saving account. Deposits in your Savings Vaults are protected by the FSCS up to £85,000 and deposited with the traditional bank.
9. Investing services
Apart from traditional investment in shares, you can buy fractional shares and also crypto. When investing, be careful and learn about the risks of investing.
Feel safe due to Revolut Security of the card – Preventing Fraud
You know this feeling, right?
This feeling and questions going on in your head when you travel abroad and you have your Revolut card as the main traveling card.
You want to make sure that it is safe so you can manage your traveling expenses and have money to get back to your home after you finish your traveling.
Don’t worry, this feeling of security is mutual. We have all been there.
The problem is that some banks can take up to 4 weeks before they can send you a replacement card, which can ruin your time abroad and your plans for visiting nice places.
Revolut claims that it is 7x better than a regular bank in stopping card fraud. Due to the protection system, they put in place. This is due to their anti-fraud system that helps keep fraudulent transactions under 0.01%.
- Revolut gives users the ability to freeze and unfreeze their cards easily in the app, it takes seconds.
- Then contact customer service via the in-app chat function
You can also enable location-based security to reduce fraudulent transactions, disable contactless, online, or swipe payments or even choose a monthly card spending limit for extra peace of mind.
The steps on how Revolut keeps you safe while traveling around the world:
- Revolut via the mobile app is asked to provide either a PIN / Passcode OR Biometrics
- Desktop access will take you through authentication by sending a notification to the mobile app.
- Online purchase verification
- When sending funds to a new recipient, they’ll ask you to confirm that you know and trust the intended recipient before the transaction can proceed.
- You can use unique virtual disposable cards (single-use time virtual cards for online shopping)
- They offer an in-app review of transactions
- You can use instant freeze of suspicious transactions
- You can free the relevant card
- Finally, remember that Revolut will never contact you over the telephone without verifying ourselves first.
- Review alerts sent by Revolut and take time to consider them before you make payment. In doubt, contact Revolut.
From your everyday spending to planning for your future with savings for traveling around the world, bookings, and investments, Revolut helps you get more from your money. Here is how (and why) to gain a way to open a Revolut account now.
Online payment solutions for you and your business, here are recommendations:
1. Wise online payment provider. Great exchange rates and fast transfers online. CLICK HERE NOW
2. Online account solution with NOVO banking platform even with accounts for small business owners: Click here now
3. Revolut offers a ton of features that will benefit any digital nomads, travelers or expats. Personal and Business accounts. With prepaid or virtual cards available. CLICK HERE NOW
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Disclaimer: The links included are the affiliate links and if you used them to purchase, I will earn a commission. We only recommend products that we use so we can describe their benefits. Thank you for your support.
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