Our uncompromising opinion of Revolut Business!

Our opinion of Revolut Business in brief

Revolut Business is a neobank offering financial products tailored to the needs of its customers. for companies of all sizes .

Its multi-currency account is a real plus, enabling companies to to carry out their international transactions easily and cost-effectively.

On the other hand, the absence of loans and bank overdrafts are also significant drawbacks. All the more so for very small businesses seeking financing.

What exactly is Revolut Business?

Revolut Business is a British neobank. created in 2015 . It is one of the pioneers among European digital banks. It is fast becoming a key player thanks to a free account with no income requirement .

Revolut Business features

Here is an overview of the main features of Revolut Business:

A multi-currency pro bank account

Revolut Business enables companies to open a bank account in more than 25 currencies. You can hold both a dollar and a euro account, and set specific parameters for each.

A tool for managing company expenses

With Revolut Business, you can allocate free debit cards to your employees and define specific rules for each :

• Days of use

• Authorized expense categories

• Ceilings

• Etc.

You can track expenses in real time from a single dashboard, and block or unblock them at any time. So you can keep total control over your staff's spending.

International payments

You can carry out your international transactions quickly and affordable fees compared to traditional banks .

What's more, with the ability to create sub-accounts in different currencies, you can carry out international financial transactions. without worrying about the exchange rate . You can pay directly in the right currency.

Integrations

You can integrate Revolut Business with your business management tools, such as QuickBooks, Xero ou Slack . This will enable you to create a unified, harmonized ecosystem and manage the entire from a single interface .

Billing tools

With the Revolut Business application or web interface, you can generate and send invoices . You can configure them, track them and set automatic reminders from your dashboard.

Sub-accounts

You can create sub-accounts for different teams or projects, and define specific authorization levels according to employees' roles.

What integrations does Revolut Business offer?

We have seen that Revolut Business can be integrated with various tools:

• Accounting software like Xero, FreeAgent, Sage or QuickBooks to simplify and automate financial and accounting management

• Payment management tools like Stripe, WooCommerce or Shopify to automate online sales tracking and manage your online payments

• Productivity and communication tools like Slack or Zapier for smooth communication within your organization

What's more, Revolut Business can integrate with Zapier to connect with thousands of other applications.

The benefits of Revolut Business

Revolut Business offers many advantages:

Low transfer costs

Revolut charges lower fees than traditional banks and other neobanks. You can benefit from free transfers according to your subscription plan.

Automated payment management

Revolut Business includes features that allow you to program recurring payments and automate invoicing.

Helping you expand internationally

With multi-currency management and attractive exchange rates, Revolut Business makes it easy to international business expansion . It also enables customers to be invoiced in their own currency, a real asset for boosting a company's attractiveness.

Unlimited number of users

You can create as many sub-accounts as you wish for each of your employees.

Expenditure management

You can limit and track your staff's expenses from your dashboard. What's more, expenses are automatically categorized to facilitate accounting management.

Collaborative work

Revolut Business features efficient team management with the option of creating sub-accounts and specific authorizations.

A flexible price plan

Revolut Business propose freemium plan and paid accounts adapted to different company sizes. Each company can then choose according to its needs.

It should be noted, however, that due to the many limitations, the freemium account is generally a means of testing the platform's functionalities . It's also ideal for start-ups.

To really benefit from the advantages offered, you need to move upmarket. Each company can then choose according to its needs.

A French IBAN

Revolut Business accounts have a French IBAN. This facilitates financial transactions in Europe.

The disadvantages of Revolut Business

Despite its advantages, Revolut Business also has its drawbacks:

Customer service

Revolut Business customer service is only available to via son application . Basic subscribers also have to wait a certain amount of time, as they are not given priority.

The absence of traditional financial services

Revolut Business ne propose no business loans or checkbooks . Similarly, the neobank does not accept cheques or cash deposits or capital deposit.

How much does Revolut Business cost?

Revolut Business offers 4 price plan levels:

• Basic. This is Revolut Business' free offer. It includes a multi-currency account and two physical Mastercard bank cards. This offer is aimed primarily at freelancers and micro-businesses just starting out.

It supports two separate users. It costs 5 euros/month to integrate each additional collaborator. Free access and access to management tools are limited in this offer.

• Grow at 19 euros/month . It is suitable for small and medium-sized businesses with an international clientele, and for the self-employed. This offer includes a Metal card and financial and accounting management tools.

• Scale at 79 euros/month . It includes 2 Metal cards and accounting and financial management tools

• Enterprise. A tailor-made offer for large companies

What are the alternatives?

Here are 3 of the best alternatives to Revolut Business :

Hero

Hero is a payment operator created in 2020 . The French platform offers payment facilities that allow companies to pay their invoices in the following ways after 60 or 90 days or in 3 or 4 instalments.

Hero offers a service electronic factoring which consists of first advancing payment of the company's supplier invoices. Then, in a second phase, it obtains reimbursement while granting payment facilities.

With HeroPay, Hero has also entered the neo-banking market with its free pro bank account with 3 payment methods These include bank transfers, direct debits and credit cards.

The platform also offers two other pay-as-you-go packages for companies with more advanced needs.

Stripe

Stripe is an Irish and American fintech that enables you to collect online payments.

Created in 2010 it is available in 37 countries and concentrates 19% market share .

Its broad integration potential is its main asset. With a robust API, however, you need development skills to take full advantage of it.

Paypal

The undisputed leader in the payment processor market, PayPal boasts 42% of web transactions . Its easy-to-use interface is the key to its popularity. The platform is, moreover, available in 200 countries and regions .

You don't need any technical skills to use it. What's more, the platform integrates with leading e-commerce platforms such as Shopify, WooCommerce or Wix.

Is Revolut Business a reliable solution?

With an overall score of 4.3/5 on review sites and a European license, Revolut Business has all the hallmarks of a reliable solution. In fact, a glance at the user reviews is enough to convince you of its reliability.

In addition, the neobank is approved by the Financial Conduct Authority (FCA), to guarantee the security of the funds entrusted to it.

Can I pay in instalments?

Yes, it is possible to pay in instalments with Revolut on condition that you use a Metal card (at €13.99/month) or Premium (at 7.99 euros per month).

With Hero, on the other hand, you can pay in instalments right from your free subscription.

Hero even offers a deferred payment option which allows you to pay your invoices 60 to 90 months after they are issued. And yet you don't risk jeopardizing your relationship with your suppliers, because the platform advances payment on your behalf.

In conclusion, Revolut Business is a business account with many advantages. However, the absence of a business loan and the impossibility of depositing capital make it ill-suited to the needs of very small businesses. .

Notre avis Revolut Business is therefore shared . Hero On the other hand, thanks to its electronic factoring system and payment facilities, it enables micro-businesses to streamline their cash flow management.