Challenger bank Revolut introduces Revolut for Business – Sign up now and try 3 months free! | EU-Startups
Summary
Founded in 2015, Revolut grew quickly – drawing in customers by letting them spend and transfer money abroad with the real, interbank exchange rate – an offer it has now been extending to its business customers, presenting real potential savings to freelancers and companies that do business internationally. On top of allowing businesses to hold, receive, and send money in 29 currencies, Revolut eliminates foreign unfair transaction fees, letting businesses spend and transfer money in over 150 currencies at the interbank exchange rate (only 0.5% on weekends). Traditional banks typically charge around 3%, and even up to 13%, in foreign transaction fees – which easily can add up for businesses transferring large sums. Revolut for Business also offers prepaid corporate cards that can be easily issued to employees, topped up, and tracked. And with its Open API, businesses can integrate their bank accounts with accounting and other software including XERO, FreeAgent, Slack, Zapier, and more – simplifying and streamlining processes such as cashflow management, invoicing, payments, and transaction monitoring.