FinTech: Revolut Business Fans Out Across All 50 States In The U.S.

March 26, 2021 | FinTech, News

The digital bank announced in a blog that Revolut Business is now live and provides the ultimate control on business finances.

Revolut announced on March 25 that its Business service was now available all over the U.S. and that businesses could enjoy several advantages.

Elizabeth McGrath said in the blog that Business accounts now allowed:

  • Payments and transfers between Revolut accounts – business or personal – are free
  • Free worldwide payments to anyone with a Revolut Business account
  • For non-Revolut accounts, foreign exchange is fast, transparent, and cost-effective
  • Get local accounts denominated in both USD and GBP (EUR and AUD on the way)
  • But you can receive, hold and exchange money in 28+ currencies worldwide with no hidden fees
  • Accounts without minimums
  • Physical and virtual company debit cards
  • Track all card spends, set limits, and freeze cards all with one click
  • Expenses tool to track, review and reconcile all expenses
  • Subscriptions – control standing orders and recurring card payments from a single dashboard
  • Connect  your Business account to other favorite apps and services
  • Slack, Zapier, Zero, and Quickbooks are integrated with Revolut Business
  • Free one-month trial

Eyes on U.S. banking charter

Earlier this week, the neo-bank also handed in its application for a banking charter with the Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation.

“A US banking license would ultimately enable us to provide US customers with all the essential financial products and services they can expect from their primary bank including loans and deposits,” said co-founder and CEO, Nik Storonsky. “We’re on a mission to build the world’s first global financial super-app, and pursuing a US banking license is an integral part of the journey.”

Related Story:  Revolut Applies For U.S. Banking Charter


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