Every founder requires a convenient payment solution while running a business. However, traditional banking options in many countries tend to be slow, adhering to outdated methods and resisting technological advancements, leading to a rather frustrating process. Fortunately, with revolutionary platforms like Revolut offering business accounts, this whole process is simple and efficient. Opening an account takes mere minutes instead of days, and all of your day to day transactions can be managed online or through your phone from anywhere. Making payments across different countries becomes effortless, and if the need arises, setting up multi-currency accounts is a straightforward process.
Revolut are one of the most popular business accounts in the US, UK, and throughout most of Europe, boasting hundreds of thousands of satisfied customers. Each month, they issue over 125,000 new business cards, solidifying their position as one of the most sought-after and preferred choices among business owners.
What you can get:
- You can open an account for free and get 1 month of a paid plan for free!
- Various other accounts are available with a monthly fee that give you more fee free transactions
Some of our favourite features of Revolut for business include:
- Ability to send, receive, exchange and hold over 30 different currencies
- Have a prepaid business debit card as well as the option for virtual cards
- Set up direct debits
- 24/7 support
- Link the account to other software such as Slack, Xero etc
- Make bulk payments
- Manage your payroll
Who is Revolut business for?
If you're a business owner, whether this is as a freelancer or you run a small business, startup or larger company, Revolut can be a great company, Generally the Revolut for business accounts are suitable for all types of business in each country (check in your country to make sure), these often include:
- Freelancers
- Solo entrepreneurs
- Companies of all size
How long does it take to open a Revolut Business account?
The application process is really straight forward and the whole process will generally take approximately 10 minutes, this will then be checked by Revolut themselves and this process can take anything from 1 business day to 7 business days, although it's typically shorter (Note on occasion it can take longer).
Am I eligible for an account?
If you're looking to open an account then you will need certain things in order to be eligible, this will vary from country to country, so we recommend that you check the Revolut business website and see the exact requirements needed for where you are located.
To give you an idea of the typical things that you will need they are often:
- Your business details, such as name, address, company registration etc
- Your personal details
- Summary of what your business does
- Ownership information i.e share split
- Form of ID
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