Revolut Business is an umbrella term for business. Bank accounts provided by the e-money institution, Revolut (which is probably best known for its personal accounts).
Revolut is considered an EEA bank as it holds a full banking license in Lithuania.
Since Revolut was founded in 2015, it now operates in 28. EU markets and boasts over 20 million users.
Revolut Business allows companies to bypass high fees associated. With sending money abroad and manage team expenses directly from the app.
Revolut Business review
How to open a Revolut Business Account
As I just indicated, signing up for a Revolut Business account only takes about ten minutes. You fill out an online application which is then job seekers data reviewed by the Revolut team, which takes 1-7 business days.
Photo ID and proof of your address . Your business name, address and registration details
Details of the company’s shareholders and directors (anyone who owns more than 25% of the business). Shareholders and directors are also subject to identity checks.
It is also worth noting that if you trade currency during off-market hours. You may be charged higher fees, which vary depending on where you are in the world.
What is Revolut Business?
You can order up to 200 virtual cards for your team members and a maximum of three plastic cards per team member – this applies to all plans.
Alternatively, if you what does the poptin plan really contain + why do you need it? upgrade to a paid plan, you can also order a limited edition stainless steel card.
You can order cards through the Revolut app and keep control over them. For example, you can set limits for each card, track payments, freeze and unfreeze cards, and decide where your team can use them .
Accounting software integration
You can connect your Revolut Business account with external accounting software like Xero, QuickBooks , and more. This makes it easier to create invoices, view holistic data about your business. Finances in real time, keep an eye on purchase orders and outstanding invoices, and more.
All types of businesses can open a Revolut account , including find list partnerships. Sole traders, freelancers and limited liability companies (both private and public). Unfortunately, Revolut does not yet support foundations, charities, cooperatives or public sector companies, but it intends to expand in the future.