Intro
You can withdraw money from your Revolut trading account by following these steps:
- Go to 'Payments'
- Select 'Bank Transfer'
- Add your bank account
- Choose the currency and the amount you wish to withdraw
- Initiate the withdrawal
Withdrawals are mostly free even when using wire transfers. If you send money in the currency of the recipient country, there is a 0.3% fee with a €0.3 minimum and €5 maximum. If you send in a different currency, you should count on a minimum flat fee of €3. On the negative side, you can only use a USD-based account for trading.
You can move money from your Revolut trading account to your regular Revolut account instantly and almost for free. If you have other currency than USD on your Revolut account, you have to pay a currency exchange fee.
You can send up to €1,000 each month without having to pay exchange fees, beyond that there will be a 0.5% fee. If you use Revolut Premium or Revolut Metal, you can transfer unlimited funds globally, with no forex fees. A fee of 1-2% applies if you exchange currency on the weekend depending on the type of currency. Similarly to Revolut's competitors, you can only use bank transfers to withdraw money to your standard bank accounts.
How long does it take to withdraw money from Revolut?
We tested the bank transfer withdrawal and it took one business day.
Revolut | Freetrade | Robinhood | |
---|---|---|---|
Bank transfer | Yes | Yes | Yes |
Credit/debit card | Yes | Yes | No |
Electronic wallets | No | Yes | No |
Withdrawal fee | $0 | $0 | $0 |
Funds blocked when order canceled
Occasionally, we found that our funds were blocked for several days after canceling an order. This is not standard practice at other brokers.
Can I withdraw cash from Revolut ?
Bank transfer is the main withdrawal option available at Revolut, but you can also withdraw money with your Revolut card. According to our research, bank transfers usually take at least 1 business day for your money to arrive.
To withdraw money from Revolut via bank transfer, you need to follow these steps:
- Log in to your account
- Select 'Withdrawal' or 'Withdraw funds' from the appropriate menu
- Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
- Enter the amount to be withdrawn, and, if prompted, a short reason or description
- Submit your request
Please note that you may only withdraw money to accounts that are in your name.
The good news is that basic withdrawal at Revolut is free of charge.
Revolut | Freetrade | Robinhood | |
---|---|---|---|
Domestic bank withdrawal | $0.0 | $0.0 | $0.0 |
International bank withdrawal | $0.0 | - | $50.0 |
Electronic wallets withdrawal | Not available | Not available | Not available |
Credit/debit card withdrawal | - | - | - |
How can I withdraw money from Revolut to a bank account?
Besides the bank transfer, you can also withdraw money from international ATMs with your Revolut card. It means you can only withdraw money from ATMs that support the other internationally recognized cards, such as Mastercard or Visa. As always, choose a transaction without conversion so you are charged in the local currency.
For businesses, Revolut has a 2% fee for each ATM withdrawal regardless of the amount or your monthly plan. Purchases made with your card are free.
How much cash can I withdraw from Revolut ?
You can withdraw cash from any cash machine in your home country or abroad that supports Visa or Mastercard. Withdrawing cash with a Revolut card is free, up to the limits of your plan. In the EU, standard plan users can withdraw a total of €200, or make a total of 5 ATM withdrawals a month, beyond that you will pay a 2% fee on all funds withdrawn, with a minimum fee of €1 per withdrawal. In the US, there is no fee for ATM withdrawals up to $1,200 per month or currency equivalent, after which a 2% fee is charged. In the UK, there are five free ATM withdrawals available, or £200 per rolling month, after which the fee is 2% of the withdrawal amount or a minimum fee of £1 per withdrawal.
-> Back to Revolut Review 2022
Further reading:
Comments