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Published 05 May 2023

Revolut Business Account Review

Revolut is an online banking provider that was launched in 2014. They offer a range of business bank accounts that are suitable for various types of freelancer or companies.

Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotion’. However it doesn’t influence our reviews. Our opinions are our own.

Revolut can offer a quick, simple way to manage your business finances. There is a significant range of features available and a strong set of customer reviews.

If your business often involves foreign transactions, Revolut Business could be especially valuable. For example, having a local account in both sterling and euros could simplify everyday business for companies operating across the UK and EU.


Revolut Companies Free

  • Monthly Fee
  • Card Purchase Fees
  • Bank Transfer Fees
  • Offer
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This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Learn more about how we bring you our review.

Key features

  • 24/7 customer service
    Revolut offers 24/7 customer support through its online and in-app chat function
  • Free and paid accounts
    Revolut offers accounts with no monthly fees for both companies and freelancers, alongside a range of paid accounts
  • Local accounts in different currencies
    You can immediately set up local accounts in euros and dollars, as well as pound sterling
  • Sole traders, limited companies and partnerships
    Revolut business accounts are available to a number of business types, including partnerships

Revolut business account pros & cons


  • Revolut offers business accounts for sole traders and companies, with no monthly fees.
  • Through its online and in-app chat function, Revolut offers 24/7 customer support.
  • Accounts can be accessed online and through Revolut’s mobile app.
  • You can hold local accounts in pound sterling, euros and dollars.


  • Since Revolut is an e-money account, your deposits will not be protected by the Financial Services Compensation Scheme (FSCS).
  • You cannot deposit cash or cheques into your Revolut business account.
  • You cannot manage your account by speaking to someone over the phone or in a branch.
  • You cannot access overdraft or credit facilities with your Revolut business account.

The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business bank account features that people feel are most important. They are unlikely to be the only product features and restrictions that you should consider. Pros and Cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since. 

Revolut business account full review

Launched in 2005, Revolut is a financial services provider that has made its name as a challenger to the traditional banking groups. 

While Revolut is not a bank, it is regulated by the Financial Conduct Authority (FCA). This means it is a safe and legitimate option for business banking. 

Through the Revolut Business app, businesses can send and receive global and domestic payments, track and approve spending, send invoices and more. The features available will depend on the level of plan you have.

There are seven different Revolut business accounts on offers: four for companies, and three for freelancers and sole traders. 


With a Freelancer Revolut business account, the account will be held in your personal name, not the name of your company. This means that bank transfers will display under your name. This means that if you trade under a different name to your personal name, it may be confusing for your clients.

There are three types of Freelancer Revolut account:


To open a Company Revolut business account, you will need to be fully incorporated and have a valid business registration number. 

There are four types of Company Revolut business account:

Revolut business account features for freelancers and sole traders: at a glance

Monthly feeFree (Free)£7 a month£25 a month
Transaction feesYes (outside of free allowance)Yes (outside of free allowance)Yes (outside of free allowance)
Account management OnlineVia a mobile appOnlineVia a mobile appOnlineVia a mobile app
FSCS protectionNoNoNo
Set-up timePotentially same dayPotentially same dayPotentially same day
Cash depositsNoNoNo
Cheque depositsNoNoNo
Access to other banking servicesNoNoNo
International paymentsYesYesYes
Customer service24/7 online and in-app chat function24/7 online and in-app chat function24/7 online and in-app chat function
Multiple user access YesYesYes
Create and send invoicesYesYesYes
Integration with accounting software toolsYesYesYes

Where Revolut business account stands out

Where Revolut business account falls short

Revolut business account customer reviews

Revolut customers have left reviews on a range of sites. Generally, these reviews are positive.

It’s worth remembering that some of these reviews are from all Revolut customers, not just its business banking customers. 

This information is correct as of 3 May 2023. 

Revolut business account eligibility 

Revolut business accounts are only available to the following types of businesses:

You and your business will also need to be based in the UK.

Certain industries will not be able to open a Revolut business account. The full list can be found here.

How to apply for a Revolut business account

In order to apply for a Revolut business account, you will likely need to complete the following steps:

  1. Fill out a short online form. Revolut claims this should only take around 10 minutes.
  2. You will need to supply Revolut with the required documentation. This may include confirmation of your business’s operating address, a short description of what your business does, verification of your identity, and which business account plan you want to open. If you are looking to open a Company account, you will also need to share your basic incorporation details, and information about the shareholders and directors of your business. 
  3. Once all that is submitted, you will join a review queue. It may take up to 24 hours for your application to be reviewed. Revolut may be in contact to ask for further information.

Review methodology

At NerdWallet Ltd UK we base our reviews on the results of surveys we conduct to understand what key product features are important to those who use them, and align them to the product we review.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability of your financial circumstances.

You can view our review methodology here.

About the Author

Connor Campbell

Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The…

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