Revolut is a fintech, not a bank. Its US banking services are backed by its bank partner MCB, which also provides FDIC insurance for Revolut’s deposit accounts. Revolut offers digital personal and business multicurrency accounts that are well-suited for travelers who frequently convert currency or use their debit card overseas. And if you have a Revolut personal account, you’ll get access to its free kids’ account Revolut <18. It also offers seven different international business accounts.
If this global account isn’t quite the right fit, we have Revolut alternatives for you to check out, such as SoFi®, Capital One, Greenlight and Wise.
SoFi Checking & Savings is an all-in-one digital account. There are no monthly or overdraft fees and no minimum deposit or balance requirements. You'll get a debit card with no foreign transaction fees, just like Revolut. SoFi also offers 0.50% APY on your checking balance with no requirements and up to 4.00% APY on savings by setting up direct deposits or depositing at least $5,000 per month. SoFi also accepts cash deposits at participating retailers for a $4.95 fee, while Revolut doesn't accept check or cash deposits at all. However, unlike Revolut, SoFi doesn't offer kids' bank accounts.
APY
Up to 4.00%
Fee
$0 per month
Minimum deposit to open
$0
SoFi Checking & Savings is an all-in-one digital account. There are no monthly or overdraft fees and no minimum deposit or balance requirements. You'll get a debit card with no foreign transaction fees, just like Revolut. SoFi also offers 0.50% APY on your checking balance with no requirements and up to 4.00% APY on savings by setting up direct deposits or depositing at least $5,000 per month. SoFi also accepts cash deposits at participating retailers for a $4.95 fee, while Revolut doesn't accept check or cash deposits at all. However, unlike Revolut, SoFi doesn't offer kids' bank accounts.
Pros
No monthly or overdraft fees
No foreign transaction fees
Up to 0.50% APY on checking and 4.00% APY on savings
Accepts cash deposits
Cons
No kids' banking
No physical branches
Annual Percentage Yield (APY)
Up to 4.00%
Intro or bonus offer
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2024.
Rewards
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2024.
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/termsSee list of participating banks at SoFi.com/banking/fdic/receivingbanks
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Revolut offers seven business international account options. However, most of Revolut's business accounts come with monthly fees. Wise's single business account has no monthly fees, only requiring a $31 one-time fee to set up your account. With Wise, you can receive AUD, CAD, USD and many more currencies from non-wire transfers with no fees and receive fee-free Swift payments in 15 different currencies. A major perk Wise has over Revolut is that Wise's account can be interest-bearing if you hold USD, GBP or EUR, offering up to 4.85% APY on a USD balance. However, Revolut has more software integrations than Wise and more team management tools, but Wise is a well-rounded international account that's free to maintain.
APY
4.85%
Fee
$0. per month
Minimum deposit to open
$0
Revolut offers seven business international account options. However, most of Revolut's business accounts come with monthly fees. Wise's single business account has no monthly fees, only requiring a $31 one-time fee to set up your account. With Wise, you can receive AUD, CAD, USD and many more currencies from non-wire transfers with no fees and receive fee-free Swift payments in 15 different currencies. A major perk Wise has over Revolut is that Wise's account can be interest-bearing if you hold USD, GBP or EUR, offering up to 4.85% APY on a USD balance. However, Revolut has more software integrations than Wise and more team management tools, but Wise is a well-rounded international account that's free to maintain.
Pros
No monthly fees
Receive funds for free in multiple currencies
Earn up to 4.85% APY on USD balance
Mid-market exchange rate
40+ currencies and operates in 160+ countries
Cons
$31 setup fee
Fewer software integrations and team tools than Revolut
Revolut offers its kids' bank account Revolut <18, with no monthly fees. However, it doesn't offer APY or savings rewards like Greenlight. Greenlight offers up to five kids' debit cards per plan with no age requirements, starting at $5.99 per month for Greenlight Core. With Core, you can earn a 2% savings reward per year on balances up to $5,000 per family. With the higher tier plans, like Infinity for $14.98 per month, you can earn a 5% savings reward on balances up to $5,000. For all the plans, parents get granular spending controls with the ability to set limits by store and category, financial literacy education and access to an investing platform. And like Revolut, Greenlight doesn't charge international or foreign transaction fees. However, the downsides with Greenlight are you can't get around a monthly fee, and it doesn't accept cash deposits.
APY
5.00%
Fee
From $5.99 per month
Minimum deposit to open
$0
Revolut offers its kids' bank account Revolut <18, with no monthly fees. However, it doesn't offer APY or savings rewards like Greenlight. Greenlight offers up to five kids' debit cards per plan with no age requirements, starting at $5.99 per month for Greenlight Core. With Core, you can earn a 2% savings reward per year on balances up to $5,000 per family. With the higher tier plans, like Infinity for $14.98 per month, you can earn a 5% savings reward on balances up to $5,000. For all the plans, parents get granular spending controls with the ability to set limits by store and category, financial literacy education and access to an investing platform. And like Revolut, Greenlight doesn't charge international or foreign transaction fees. However, the downsides with Greenlight are you can't get around a monthly fee, and it doesn't accept cash deposits.
Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer. Get 3% cash back on future purchases up to an additional $50 a year with eligible deposits.
One Finance offers an all-in-one digital account with checking and savings, with no monthly or foreign transaction fees. Earn a 3.75% APY in the Autosave savings pocket or 3.75% APY on your savings balance if you set up direct deposit of at least $500 per month. One Cash's APY is higher than Revolut's Standard plan, which offers 3.25% APY. One Cash also lets you create unlimited subaccounts to organize your spending and savings goals, set up transfers between the subaccounts and use savings round-ups to save whenever you spend with your debit card. Also, setting up direct deposit of at least $500 per month makes you a Plus customer, which offers extra perks like overdraft protection, 3% cash back on Walmart purchases up to $50 per year, free Allpoint ATM withdrawals, mobile check deposit, free card replacements and more. And unlike Revolut, One Finance also accepts cash deposits at participating retail locations, such as Walmart.
APY
Up to 3.75%
Fee
$0 per month
Minimum deposit to open
$0
One Finance offers an all-in-one digital account with checking and savings, with no monthly or foreign transaction fees. Earn a 3.75% APY in the Autosave savings pocket or 3.75% APY on your savings balance if you set up direct deposit of at least $500 per month. One Cash's APY is higher than Revolut's Standard plan, which offers 3.25% APY. One Cash also lets you create unlimited subaccounts to organize your spending and savings goals, set up transfers between the subaccounts and use savings round-ups to save whenever you spend with your debit card. Also, setting up direct deposit of at least $500 per month makes you a Plus customer, which offers extra perks like overdraft protection, 3% cash back on Walmart purchases up to $50 per year, free Allpoint ATM withdrawals, mobile check deposit, free card replacements and more. And unlike Revolut, One Finance also accepts cash deposits at participating retail locations, such as Walmart.
Pros
No monthly fees
High 3.75% APY on Autosave pocket and for Plus customers
Budgeting and savings tools
Accepts cash deposits
Cons
Direct deposit requirements for best perks
No physical branches
No kids' banking
Annual Percentage Yield (APY)
3.75% on balances of to $250,000 1.00% on balances of +
Intro or bonus offer
Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer. Get 3% cash back on future purchases up to an additional $50 a year with eligible deposits.
Rewards
Earn 3% cash back at Walmart, up to $50 annually, with eligible deposits
One is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC. Debit card rewards: ● Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer¹ ● Get 3% cash back on future purchases, up to an additional $50 every year, with eligible deposits² ● Earn up to 5% cash back on select brands³ Early Pay: Get paid up to 2 days early. Direct deposit may be available up to 2 days in advance, but depends on when your employer sends paycheck data. 3.75% APY on Savings with eligible deposits: 3.75% annual percentage yield (APY) applies to the Savings balance of One Cash customers who either (i) received $500 or more of Direct Deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. 3.75% APY is also earned on Pay Autosave balances without these deposit or balance requirements. In all instances, 3.75% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 12/20/2024, but may change at any time before or after account opening. ATM: Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply and third-party ATM fees may be incurred. Overdraft Protection: Available with Direct Deposits totaling at least $500 in the previous month. You must be 18 or older to receive Overdraft Protection. When on, Savings Backup will be used before Overdraft Protection. Overdraft balance is due right away. Transactions eligible for Overdraft Protection are at the discretion of One and may exclude certain transactions (e.g., bill pay, global transfers). See terms for details. ¹Only available to consumers who open an account through Walmart.com, the Walmart app, one.app, or the One app from 8/8/24 - 10/31/24. Terms apply. ²To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms apply. ³Cash back can be earned through the Debit Rewards Program. Individual offer details can be found in the One app. Terms apply.
The Revolut account might offer perks like currency exchange allowances, kids' banking and the ability to hold different currencies — but if you don't need all that, the Capital One 360 Checking account might be the simple alternative for you. Capital One 360 Checking is a no-frills account with no foreign transaction fees from a trusted bank. There are also no monthly fees or minimum deposit requirements, and you'll earn a 0.1% APY on your checking balance. It also offers early direct deposit, four overdraft options and doesn't charge you for using out-of-network ATMs.
APY
0.10%
Fee
$0 per month
Minimum deposit to open
$0
The Revolut account might offer perks like currency exchange allowances, kids' banking and the ability to hold different currencies — but if you don't need all that, the Capital One 360 Checking account might be the simple alternative for you. Capital One 360 Checking is a no-frills account with no foreign transaction fees from a trusted bank. There are also no monthly fees or minimum deposit requirements, and you'll earn a 0.1% APY on your checking balance. It also offers early direct deposit, four overdraft options and doesn't charge you for using out-of-network ATMs.
Unlike Revolut, which is a fintech with banking partners, Ally is one of the few digital banking options that's actually a bank on its own. Ally also has many more products and services than Revolut, such as checking, savings, certificates of deposit, various lending and investing services, as well as a money market account. Ally's personal accounts also have no monthly fees. Its checking account earns up to 0.25% APY depending on your balance, and the savings earns a high 4.25% APY. The Ally credit card doesn't charge foreign transaction fees, but the debit card has a 1% foreign ATM fee and 1% international transaction fee, so Revolut may still be the better option if you travel overseas frequently. And just like Revolut, Ally doesn't accept cash deposits or have any physical branches.
APY
Up to 0.25%
Fee
$0 per month
Minimum deposit to open
$0
Unlike Revolut, which is a fintech with banking partners, Ally is one of the few digital banking options that's actually a bank on its own. Ally also has many more products and services than Revolut, such as checking, savings, certificates of deposit, various lending and investing services, as well as a money market account. Ally's personal accounts also have no monthly fees. Its checking account earns up to 0.25% APY depending on your balance, and the savings earns a high 4.25% APY. The Ally credit card doesn't charge foreign transaction fees, but the debit card has a 1% foreign ATM fee and 1% international transaction fee, so Revolut may still be the better option if you travel overseas frequently. And just like Revolut, Ally doesn't accept cash deposits or have any physical branches.
Pros
Deposit accounts with no monthly fees
High 4.25% APY on savings
Various deposit accounts
Lending and investing
Cons
No cash deposits
No kids' banking
Annual Percentage Yield (APY)
0.25% on balances of $15,000+ 0.10% on balances of to $15,000
Fee
$0 per month
ATM transaction fee
$0
Foreign transaction fee
1%
Overdraft fee
$0
APY
Up to 0.25%
Fee
$0 per month
Minimum deposit to open
$0
verified_userFDIC Insured
How Revolut compares
Revolut‘s personal and business banking options are top-tier. It’s one of the best global options you can get, with the personal Revolut account letting you spend in over 150 currencies, and it includes fee-free currency exchanges with your limit depending on your chosen plan. The Revolut Business accounts are full of team management perks, offer 29 software integrations and provide 24/7 customer chat support. Additionally, with a personal Revolut account, you unlock the no-fee Revolut <18 kids’ bank account.
The downside of Revolut is that the best perks with its business accounts require a paid plan, such as bulk payments and cashback rewards. Overall, keep in mind that Revolut is an online option that lacks physical branches and doesn’t accept cash or check deposits.
Pros
Supports over 70 currencies in 160 countries
No-fee plan options
29 software integrations
Free transfers to other Revolut accounts
24/7 chat support
Kids’ bank account
Cons
Business bulk payments and cash back requires paid plan
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 448 Finder guides across topics including:
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