• Revolut Gambling Company
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• Revolut Gambling Games
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• Revolut Gambling Withdrawal

Revolut this week informed its users that UK customers ‘won’t be able to use their Revolut cards for any online or offline gambling payments in the UK’. The statement from the Fintech bank read: “This applies to all non-remote general betting, pool betting and betting intermediary licences, and all remote licences. Revolut is a FinTech mobile application that offers bank-like services. When you open an account, you’ll be given a bank account in both the UK and Europe. This makes it super easy to transfer.

About Revolut

Revolut is a banking organisation that operates as an entirely digital bank, aiming to offer users a fast, reliable and hassle-free online payment service. Revolut mainly works through a mobile app, though there are other ways you can do your banking with this payment method.

The company behind Revolut is based in the UK. The payment method was released for public use in July 2015 and some four years later, the company claimed that six million people used it regularly. So far, there have been over 350 million transactions made using Revolut and more than £40 billion has been handled using the payment method.

Revolut Services in 2019

Revolut offers a range of convenient features. There are three plans to choose from: Standard, Premium and Metal. The Standard option is free, though it offers the fewest features. Both the other two options require payment: £6.99 per month for Premium and £12.99 per month for Metal. Premium has more features available than Standard, while Metal offers the full range of Revolut services.

If you opt for the Standard option, you’ll get the following perks:

• A free UK account
• A free Euro IBAN account
• Use of more than 150 currencies at the interbank exchange rate
• Currency exchange of up to £5,000 per month in 29 fiat currencies with no hidden fees
• Free ATM withdrawals of up to £200 per month

With the Premium option, you get all the features for the Standard option, plus some new ones listed below. The free ATM withdrawals allowance increases to £400 per month.

• Insurance for delayed baggage and delayed flights
• Global express delivery
• Enhanced customer support
• Access to five cryptocurrencies
• Use of a Revolut card that comes in several designs
• Use of a Revolut virtual card
• LoungeKey Pass access at over 1,000 airport lounges

With the Metal option, you get free ATM withdrawals of up to £600 per month. You can also use an exclusive Revolut Metal card. All the same Standard and Premium features are available, as well as some extra ones just for Metal users:

• Cashback of 0.1% while in Europe and 1% outside of Europe on all card payments
• Concierge access

Card Options

While Revolut is mostly an online banking system, you can opt for a physical card if you sign up for one of the two paid options (Premium or Metal). If you apply for a card, it should take nine working days to reach you with standard delivery, or three days with express delivery. You’re able to order a card through the Revolut app.

Ordering a card is free, though there may be delivery charges; there are some countries that Revolut doesn’t deliver to (check the website’s Help Centre for more information). Only your first card is free. There’s a small charge of £4.99 per card for any cards after your first, though you may qualify for extra free cards by sharing the news of your card with people you know.

Revolut App – Sign up & Link Payment Method

If you like the sound of Revolut, you’ll find it’s very easy to start using this payment method. All you have to do is download the app onto your mobile device - it’s compatible with both smartphones and tablets. If you’re using an Apple Watch, iPad or iPhone, your device will need to be using iOS 10 or above to be compatible with the app.

For Android devices, it’s Android 6.0 or newer you’ll need. The process of getting Revolut on your mobile device is quick and easy. You should have no problems getting everything set up and the payment method should be available to use before you know it.

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Once the app’s installed on your device, simply fill out the registration form to create your Revolut account. To carry out online transactions, you’ll have to link a payment method to your account and there are several options to choose from. These include:

1. Debit cards
2. Credit cards
3. Bank tranfers
4. Apple Pay
5. Google Pay

Note that for cards, only Visa, Mastercard and Maestro are accepted.

Revolut & Online Casinos

As of the time of writing, Revolut can be used to carry out a broad range of online transactions. It seems that the payment method isn’t currently available to use at online casinos for real-money gambling. However, there’s every chance that this will change in the near future and that Revolut will become available as an option for gambling online with real money.

Online casino operators are keen to accept payment methods that are easy to use, convenient and reliable. Since Revolut ticks all of these boxes, it shouldn’t be too long before many keen online gamblers are able to select it as their preferred payment method.

Revolut & Cryptocurrencies

In recent years, cryptocurrencies have taken off and become very popular throughout the world. It all started with Bitcoin, which was officially launched for public use in 2009. Since then, a growing number of other cryptocurrencies have followed in its wake. Many people prefer using cryptocurrencies for online transactions because of the fast process times and the high levels of anonymity and security they offer.

Revolut is compatible with a number of the most widely used cryptocurrencies. With this payment method, you can exchange a total of 29 fiat currencies (standard, bank/government-controlled currencies) into the five following cryptocurrencies:

1. Bitcoin
2. Litecoin
3. Ethereum
4. Bitcoin Cash
5. XRP

Getting fiat currencies exchanged into cryptocurrencies at crypto exchanges can take some time to do; it’s also not the most straightforward of processes a lot of the time. Revolut aims to make the whole process of converting fiat currencies into cryptocurrencies much more convenient and seamless.

Conclusion

Revolut is designed to make online transactions much more reliable and convenient. It’s a modern, user-friendly payment method that’s centred on the app, though there are options to get physical and virtual cards should you wish to do so. Though Revolut is one of the newer payment methods available to use, it’s experienced a lot of success so far, with over six million regular users.

This page offers lots of information about the payment method and its different packages. For more detailed information, check out the official Revolut website. Stick with Revolut for hassle-free online payments that are quick, safe and reliable.

FAQS

How much does Revolut cost?

Revolut can be free to use - that is, if you go for the Standard package. The two other packages, Premium and Metal, are available for a monthly charge. Even with a Standard package, there are some extra fees. These include delivery fees for Revolut cards, £4.99 for Revolut cards after your first, £5 to have your card replaced, a withdrawal fee of 2% once you’ve passed your £200 monthly limit and certain currency conversion fees. For all full list of extra charges for all three packages, check with the Revolut Help Centre.

How do I use a Revolut card abroad?

If you’re intending to travel abroad, you’ll be pleased to know you can use your Revolut card while away. You’ll have to order it in plenty of time to make sure it arrives before you set off. Also, you’ll need to have verified your identity with Revolut. This is a simple process that takes no more than five minutes and requires you to supply Revolut with some photo ID and other relevant documents.

How do I order a Revolut card?

To qualify for a Revolut card, you’ll need to be a Premium or Metal member. You can join either one of these membership levels for a monthly fee. If you’ve opted for the free Standard option, you won’t be able to get a card until you sign up for one of the paid options. To order a card, you’ll need to have deposited some money into your Revolut account. To get a physical card, go to ‘Cards’ then ‘Physical’ and follow the simple steps to get one sent out to you.

Note that it may take some time for your card to reach you. For a virtual card, simply go to ‘Cards’ and then ‘Virtual. Once ordered, your virtual card will be available to use straight away. You can only have five virtual cards at any one time.

What countries can I use Revolut in?

Revolut only supports those in the European Economic Area (EEA), as well as Switzerland, Singapore and Australia. More countries are expected to become compatible in due course. EEA countries include:

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.

Does Revolut have a banking licence?

Revolut does indeed have a banking licence and it’s supplied by the Financial Conduct Authority under the Electronic Money Regulations 2011. There are several features of the app that are designed to maximise security and reduce the chances of things like phishing or fraud taking place. These include the Sherlock anti-fraud system (sends Revolut instant fraud alerts), one-time-use virtual cards for online payments, customisable features users can enact or switch off and the option to log into your account using your fingerprint.

Revolut is soon looking to start using 3D Secure as well. With this, whenever you make certain online payments, so long as the merchant approves, you’ll receive a mobile message from Revolut prompting you to log into your account and verify the payment yourself.

How do I top up my Revolut card?

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To top up your Revolut card, open up the app and simply head ‘Add Money’. If you haven’t already got a payment method linked to your account, you’ll be able to do that. Simply choose the type of payment method from the options given and fill in the required details. Once you’ve got one linked, select it and enter any details asked of you, along with the amount of money you wish to add to your Revolut account. If your chosen payment method has this exact amount of money, once you’ve confirmed the deposit, the money will be transferred over to your Revolut account ready to use pretty much straight away.

What is the age limit?

Revolut is only available to those who are aged 18 or above. There are, however, plans for a Revolut Youth app, which will enable those under 18 to use a limited number of services. They won’t be able to set up an account themselves, however. Instead, parents will be able to add younger ones to their own account as an extra user.

Can I cancel a Revolut card?

Of course. Should you with to have your card services stopped, simply get in touch with Revolut’s customer support team and they’ll get everything sorted for you. Give the team a call on +1 (844) 744-3512.

How can I get in touch with Revolut’s customer support?

The Revolut app has an in-app chat feature you can use around-the-clock to speak with a team member. Note that those who opt for one of the two paid packages have priority customer support.

Can I change packages once I’ve subscribed to one?

Yes, it’s possible for you to change packages. At any time you can move from the free Standard package to any two of the paid packages or vice versa; you can also switch from one paid package to the other.

What is open banking? Research suggests that the majority of people still have no idea. However, it could be something that fundamentally changes the way we manage our money.

Since 2018, regulations have meant that banks are obliged to let you share your financial information with third-parties, if that is something that you want to do. This initiative is known as open banking, and, in theory, it’ll allow you to better manage your money and spur the big banks to greater innovation.

In this article, we’ll tackle your questions in more detail. So, what is open banking? What are the benefits? And is it safe?

What is Open Banking and Why Does it Matter?

Open banking is the new set of rules that permit third-party providers of financial services to access your financial data at your bank, including your transaction and spending data. This, importantly, only happens if you want it to – and is only obligatory for the UK’s nine largest banks (currently).

The effect is significant. Open banking essentially transfers ownership of your financial and account information from the bank, who traditionally held it, to you, the consumer. You decide who can have access to that information.

This makes it easier for you to benefit from financial services offered by people who aren’t your bank. Traditionally, banks were much of a muchness: interest rates may differ between accounts, but the offer was otherwise similar. There was less incentive to innovate, and few people ever switched banks.

As a result, banks rarely developed new technologies or tools for customers. However, with open banking, this is expected to change.

What is the Benefit of Open Banking?

In fact, open banking is expected to benefit the banks involved, the third-party financial technology companies, and the customer. This is why it has been hailed as a “revolution in banking.”

Firstly, by making it easier for consumers to choose what financial services they want to use, open banking intends to promote competition in the financial industry. This may not sound like it would benefit the big nine banks necessarily. However, if they want to retain their customer base, they will need to embrace innovation – particularly when there are so many new services on offer.

For the customer, the potential benefits are as numerous as the different financial services available. There are over 200 regulated banks and fintech startups offering useful new ways for you to manage your money. However, without open banking, you may never have got to use them.

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Because, for these to work, they need to see how you use your money: they need to see what you are spending, how, and to whom. As long as you give your explicit agreement that that is okay, you get to use the service that they are offering.

Open Banking Explained: How Does it Work?

One of the most important elements of the open banking initiative are what are known as the open banking APIs. Short for “application programming interfaces”, APIs are the technology by which banks can share their financial data with the relevant third parties.

So, what does an API do exactly? They make it possible for one company’s software to access smoothly that of another company. For example, Uber’s interface works on maps obtained from the Google Maps API. Google, in turn, gets its weather data from IBM’s weather API. Every time you are asked to “Log in with Facebook”, the app you are using in turn uses Facebook’s login API to verify your identity.

The nine big UK banks have each been obliged to create these APIs. However, at Revolut, we have created one too. These make it easier for third-parties to access the data that we store – if you give permission – without you having to give these third-parties your login details.

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Is It Safe?

There has been a lot of talk about the security of open banking. For example, allowing third-parties to access your financial data doesn’t naturally sound like a clever idea.

However, open banking has been designed to be highly secure – and that’s precisely why it uses APIs. Rather than giving out your details and data, third-parties – who are authorised and regulated by the Financial Conduct Authority (FCA) – can access your data directly, thus cutting out a step at which your data might become vulnerable.

At the same time, there is absolutely no obligation for you to be using open banking at all. You need to give permission for third-parties to access your data – and you’ll need to keep giving permission every 90 days after that. This ensures that you are still happy with the provider’s service.

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Summary: What is Open Banking?

Open banking means that you will always be able to make use of novel ways of managing your money. Budgeting apps and other financial technologies are continually imagining new ways to make your life easier – yet, without open banking, you may never have had the opportunity to explore them.

Do you have questions about similar topics? Check out our blog posts below: