Revolut for Business for Free

The payment and money transfer specialist Revolut is making changes to their pricing scale, introducing a freemium feature for businesses.

The entry-level Revolut for Business account used to be charged €6.99/month.
Targets: SMEs and freelancers.
This free offer comes with:
- An account holding service
- Plastic and virtual payment cards
- An exchange service (28 currencies)
- A business-dedicated IBAN
- Mobile and Web account management apps
- Account management rights for 2 administrators (£5 monthly fee for each additional administrator)
- Free and unlimited money transfer to other Revolut users
- 5 transfers per month in Europe or in the UK (beyond this limit: £0.20 per transfer; all international transfers are charged £3/transaction + 0.40%)
- An API open to other services including Xero, FreeAgent and Slack
Their paid Revolut for Business monthly packages remain available for growing businesses likely to require even more services: €25/month up to 10 users, €100/month for 30 users and €1,000/month for an unlimited account.

KEY FIGURES

Over 5M customers

Over 350M transactions completed

Over £40B in processed transactions

Speeding up prospective processes. Revolut for Business consists in free packages mostly intended for newly founded companies (less than 10 employees) and freelancers getting started. The point is to attract these targets through featuring an entry-level offer for free.
Securing customer loyalty. Revolut pays attention to supporting new companies and aims at standing out as their financial service of choice in the long run.

Revolut introduced their business-oriented offer back in June 2017. Their addition of a free option is an attempt at meeting customers’ demand as they increasingly expect more transparency and ease of use. In Revolut’s , featuring a fully free offer is the most relevant way to address this challenge.
Another neo-banking player, N26, also unveiled a free -dedicated service in 2017.

Category : Alertes quotidiennes