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Revolut deposit

Revolut offers several deposit options, including bank transfer, credit or debit card, and electronic wallets like Apple Pay or Google Pay.

This is how you deposit funds at Revolut:

  1. Tap on the ‘Accounts’ tab
  2. Click the ‘Add money’ button
  3. Enter your debit card or bank account information and hit ‘Continue’
  4. Enter the amount of money you want to deposit and click the ‘Add money’ button.

Depositing funds is free, but you can only use a USD-based account for trading.

 

Keep in mind that Revolut does not accept cash deposits or cheques.

Revolut deposit options vs competitors
  Revolut Freetrade Robinhood
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes No
Electronic wallets Yes Yes No

Visit Revolut

Deposit with bank transfer

 

A bank transfer can take one or several days, depending on where you send the money from. Topping up your Revolut account with a credit/debit card is instant. You can only deposit money to your trading account from your Revolut account.

You can have many base currencies when using the Revolut app but all trading accounts are denominated in USD, as you can only trade on the US stock market. It takes a few seconds to create a USD account, but you need to exchange the amount you wish to invest into USD before you place an order. 

How to transfer money from a bank account?

You can transfer money from your domestic or local bank, meaning the sending and receiving banks are located in the same country. If you transfer money internationally, or cross-border, you can expect a currency conversion and the corresponding fee to be deducted by the intermediary banks.

This is how you navigate through the bank transfer details:

  • Open the Home screen and Accounts tab in the app.
  • Select the currency you would like to add to your Revolut account from the drop-down list.
  • Tap on ‘...' next to 'Send' and choose 'Details’.
  • Make sure it is the correct currency in the app, as the transfer might not arrive if it’s a different currency than that of the destination Revolut account. Add the currency that your bank account is held in to avoid bad exchange rates. For instance, if you have a US bank account, make sure you transfer in USD to your USD Revolut account. 
  • For adding GBP: use your local account details if you transfer from a UK bank account via Faster Payment, CHAPs or BACs, otherwise use your IBAN found under the SWIFT tab. 
  • Adding EUR: your IBAN, along with the BIC, can be used both for a SEPA and a SWIFT transfer.
  • Adding other currencies: use IBAN and Revolut BIC featured in the SWIFT tab.

 

How long do Revolut bank transfers take?

Local transfers can be fast, with the money arriving on the same day or the next. International SWIFT transfers might take up to five working days. When transferring via SWIFT, make sure that the IBAN and BIC numbers are entered correctly as shown in the app.

Does Revolut charge deposit fees?

Revolut charges no deposit fees. However, it is important to check if there are any third-party fees associated with Revolut transfers.

For instance, if you add GBP, CZK, or HUF from a bank domiciled in mainland UK, Czech Republic, or Hungary using your local details, the expected cost is your bank’s rate for domestic transfers. Or if you add EUR from a bank domiciled in the Single Euro Payments Area (SEPA) using your EUR local details, the expected cost is your bank’s rate for SEPA transfers.

For all other SWIFT transfers, the expected cost is your bank’s rate for cross-border transfers. Banks may also deduct handling fees for the transfer, and their charging procedure is not always fully transparent. You might also be changed a currency-conversion fee if your deposit is in a currency other than the ones supported by Revolut. Revolut supports only one currency for trading, USD.

 

Deposit with credit or debit card

 

Open the Revolut app, tap 'Add money', and tap 'Change'.

Enter your card details including the:

  • 16-digit card number
  • Expiry date
  • CVC code
  • Billing address postal/ZIP code (if required)
  • Choose the currency
  • Enter the amount you would like to add
  • If successful, your deposit will appear in your Revolut account.

Preferably use your own card to add money.

 

Deposit with electronic wallets

 

You can use Apple Pay or Google Pay to top-up your Revolut account.

  • Tap ‘Add money’
  • Select Apple Pay or Google Pay
  • Choose the currency
  • Enter the amount you would like to add
  • If successful, your deposit will appear in your Revolut account.

If you haven’t got Apple Pay or Google Pay set up on your device already, you'll be prompted to set it up.

 

How much can I deposit in my Revolut account?

 

There is no minimum deposit required by Revolut. It's an ideal broker if you want to trade or invest with a smaller amount. It is a good broker to start your investment journey with, as you can add more funds to your account later as you get more experienced in managing your investments.

-> Back to Revolut Review 2022

Further reading:

 

Author of this article

Márton Oláh

Author of this article

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Márton Oláh

Strategic Advisor

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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