Opinion: Why I Love Using the Revolut App: My Four Fave Features
Having a good money management tool on your phone is essential when you're busy.
And if you’re like me and often travel internationally, having a debit card that makes it easy to spend in different currencies saves time and money.
That's one of many reasons why I love using the Revolut app for all my money management and travel needs. I've personally used Revolut now for over five years and I'm a big of the platform. Here's why I'm a happy customer.
The Short Version
- Revolut is a Fintech company that offers excellent exchange rates for more than 25 currencies.
- I’ve been using the Revolut app since 2017 and often recommend it to my friends and family.
- I’m a big fan of Revolut because it helps me track my budget, save money, and give me great exchange rates when I travel abroad.
What Is Revolut?
Founded in 2015, Revolut is a leading Fintech company that has transformed how consumers spend and exchange currency around the world. Today it offers both personal and business accounts and has been offering its products in the U.S. since 2020. Besides its exchange rates and international money transfers, it also offers stock and crypto investing, budgeting tools, interest on savings, and more.
I started using Revolut in 2017 when I moved to London for grad school and needed an easy way to transfer sterling to euros during my weekend trips to the continent. Revolut has been my go-to money app for my everyday spending needs in the five years since. I’ve used it all over the world, from Madrid to Paris to Morocco to the U.S. and have even convinced my husband and close friends to get accounts.
Here are the four reasons why I love using Revolut and recommend it to my friends and family:
? It Helps Me Keep Track of My Budget
Revolut’s interface makes setting and keeping track of your budget easy. It’s incredibly intuitive and user-friendly. I find it much easier to use than other standard banking apps. You can easily set spending limits or ask the app to recommend limits based on your spending predictions.
Each week you get a deep dive into your spending habits. It automatically categorizes your spending, and I’ve found that its categories are pretty accurate. Having this weekly breakdown helps me figure out where I am spending my money and if I am spending too much in one category. You can also organize it by merchant or country to see if you spent too much at one place (those Starbucks trips add up, after all).
What I like about having all this data at my fingertips is that I don’t have to do anything. Unlike other money-tracking apps, I don’t need to manually input data or connect my other accounts.
Using Revolut as my main everyday spending account gives me the insight I need to keep track of my spending and adjust as needed.
Read more >>> Budgeting Strategies — Which One Is Best For You?
?It Makes It Easy To Save
With Revolut’s vaults, you can easily set aside money and reach your financial goals, whether you're saving for holiday gifts, travel or buying the latest iPhone. You can ask it to set aside your spare change and automatically put money aside every month. You can also just put money aside when you have extra cash.
The vaults feature makes it easy to integrate savings into my budget. While I set aside 20% each month in my savings account, Revolut’s vaults allow me to take it a step further by saving for specific upcoming events. It’s an excellent way to plan for bigger purchases within your budget without taking a large chunk out of your savings.
You can also set aside money in different currencies, which is great for if you're planning to travel to another country and want to take advantage of the current exchange rates. This brings us to the third reason I love using Revolut.
Read more >>> What Is a Savings Account?
? I Get a Great Exchange Rate When I Travel
Whether visiting my parents back home in Arizona, enjoying some tapas in Madrid, or exploring the UK, using my Revolut debit card means I get the best exchange rates and don’t need to carry a lot of cash. This makes it safer when I’m traveling solo. And I can still get cash out from ATMs when I need it.
I have friends and family all over the world and travel often to visit them or just to explore new places. Having a good exchange rate is essential, especially when currencies are volatile like they've been lately. Getting close to the interbank exchange rate means I can save a lot more money than using more traditional currency exchange.
? Paying International Friends Is Easy
I love having friends all over the world, but paying my international friends back on Venmo unfortunately isn’t an option. Revolut makes it easy for me to pay friends who use different currencies.
A group of my friends recently chipped in to buy a present for our friend. We live in four different countries. If everyone had paid me back with a bank transfer, it would have taken time and cost a lot in fees. Instead, they all paid me into my Revolut account, which meant I got the correct dollar amount back even though they paid with different currencies.
The Bottom Line
Revolut has made traveling and budgeting so much easier for me. No matter where I travel, I don’t have to worry about converting cash into the local currency and can just rely on my Revolut card. While your money management needs might differ from mine, if you travel a lot or just want a good app to help you budget, you should definitely check out the Revolut app.
Learn more about budgeting:
- Albert App Review 2022: A Complete Budgeting & Investing App
- Mint vs YNAB: Which Budgeting App Is Better?
- The 50/30/20 Budgeting Rule Didn’t Work for Me. Here’s What I Did.