Qonto vs Revolut
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
💰 Pricing
📋 Assessment
💪 Strengths
- Business banking
- Invoicing
⚠ Watch out for
- Enterprise pricing can be high
- Learning curve for advanced features
🎯 Best for
European SMBs wanting digital business banking
🧑⚖️ Verdict
Qonto is an industry-standard neobanks tool used by thousands of teams worldwide.
💰 Pricing
- FX markup: 0% on weekdays within free exchange allowance (Standard: 3 free per month, then 0.5% markup; Premium and Metal: unlimited, but weekend markup of 0.15% for Premium/Metal, 0.5% for Standard).
- ATM fee: 2% of withdrawal amount after exceeding monthly free limit (Standard: $1,000; Premium: $2,000; Metal: $3,000; Ultra: unlimited).
- International transfer fee: Standard: 0.5% (min $0.50, max $50?) ; Premium: free up to $10,000/month, then 0.5%; Metal: free up to $20,000/month, then 0.5%; Ultra: free unlimited.
- Card replacement fee: Standard: $10 (or local equivalent) if lost or stolen; Premium: free (one per year) then $10; Metal: free (one per year) then $10; Ultra: free.
- Crypto trading fee: variable, typically 1.5% per trade (standard) or lower (0.75% for metal/ultra?)
- Weekend FX markup: Revolut applies a 0.5% markup on weekend currency exchange for Standard, and 0.15% for Premium/Metal (Ultra: 0%) – even if you have exceeded your free exchange allowance.
- ATM fee after limit: 2% after free monthly limit; some ATMs may charge their own fee, which Revolut does not reimburse.
- Card delivery fee: Standard may charge for delivery (e.g., $10) unless you upgrade or order during promotional period.
- Inactivity fee: Not charged monthly, but if you don't use the card for 12 months, card might be deactivated (with reactivation fee?).
🔧 Features
📋 Assessment
💪 Strengths
- Revolut's multi-currency accounts with local IBANs are a massive advantage. You can open a EUR account with a Lithuanian IBAN, a GBP account with a UK IBAN, and a USD account with a US account number (in some regions). This makes it seamless to receive salary or payments in different currencies without paying high conversion fees. For freelancers and remote workers, this is a killer feature.
- The interbank exchange rate on weekdays is a huge cost saver. Unlike traditional banks that add a 2-3% margin, Revolut uses the actual market rate. On the free plan, you can exchange up to £1,000 per month without extra fees, which is plenty for most travelers. The app also shows you the exact rate before you confirm, so there are no surprises.
- The budgeting tools are surprisingly robust for a digital bank. You can categorize transactions (groceries, transport, entertainment) automatically or manually, set monthly budgets, and get spending insights. This is on par with dedicated budgeting apps like YNAB, and it's built-in for free.
- Virtual cards are a standout security feature. You can create a virtual card for online shopping, and even disposable virtual cards that generate a new card number each time. This protects you from fraud if a merchant's database is compromised, and it's a feature that traditional banks rarely offer for free.
- The crypto and stock trading features are convenient for beginners. You can buy Bitcoin, Ethereum, and dozens of other coins directly in the app, and trade US stocks with fractional shares. However, spreads are wider than on dedicated exchanges like Coinbase or Degiro, so serious investors should look elsewhere.
⚠ Watch out for
- Customer support is a major pain point. In-app chat is the primary channel, and response times can be hours or even days for anything beyond basic questions. There's no phone support on most plans, and the chatbot often fails to handle complex issues like account freezes or disputed charges. This has led to numerous complaints on Trustpilot and social media.
- Account freezes for compliance checks are a real risk. Revolut's automated anti-fraud algorithms can flag unusual activity (like large transfers or new login devices) and freeze your account for weeks while they investigate. While this is a legal requirement in some cases, the lack of proactive communication and slow resolution times is frustrating for users who rely on the account for daily spending.
- Hidden fees can sneak up on you. The free plan has a £200/month ATM withdrawal limit, after which you'll pay 2% (or more on weekends). If you exchange on weekends, there's a 1% fee. Crypto trades have spreads that are 1-2% above the market rate, which is higher than dedicated exchanges. You need to read the fee schedule carefully to avoid surprises.
- Revolut is not a full replacement for a traditional bank. Deposits are not covered by the UK's Financial Services Compensation Scheme (FSCS) in the same way — only up to £85,000 for money in your e-money account under certain conditions (actually, Revolut is a licensed bank in Lithuania, but the protections differ in other countries). You also can't get a mortgage or overdraft from Revolut, and there's no option for physical cash deposits beyond loading with cash at certain partner stores.
🎯 Best for
Revolut is ideal for travelers, freelancers, and digital nomads who need a cheap, flexible, multi-currency spending card with manageable FX and global payments.
🚫 Who should skip
People looking for a full-fledged primary bank with reliable customer support, complete deposit protection, and comprehensive financial products (mortgages, large loans) should skip Revolut. Also, active traders are better off with dedicated stock/crypto brokerages.
📚 Learning curve
Minimal — the app has a modern, intuitive interface and you can start using core features within minutes. Understanding the exact pricing structure and country-specific features may take some digging.
🧑⚖️ Verdict
Revolut is an excellent choice for travelers, freelancers, and digital nomads who need flexible multi-currency capabilities and low FX fees. However, if you require reliable human support, robust deposit insurance, or the stability of a traditional bank for all your banking needs, you should keep a
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
🧭 Which One Should You Pick?
Choose Qonto if...
- You are: European SMBs wanting digital business banking
- 👍 Business banking
- 👍 Invoicing
- 💰 From $9/mo
- ⚠ Trade-off: Enterprise pricing can be high
Choose Revolut if...
- You are: Revolut is ideal for travelers, freelancers, and digital nomads who need a cheap, flexible, multi-currency spending card
- 👍 Real multi-currency accounts with local IBANs in many countries, making international transfers and
- 👍 Competitive FX rates (interbank rate on weekdays) with a user-friendly app that shows real-time conv
- 👍 Extensive feature set even on the free plan: virtual cards, budgeting, crypto, stocks, and peer-to-p
- 💰 Free tier available
- ⚠ Trade-off: Customer support is notoriously slow in many regions, with in-app chat often bei
❓ Frequently Asked Questions
Is Revolut really free?
Yes, Revolut has a free standard plan with no monthly fee, but you'll pay fees for certain extras like larger ATM withdrawals, non-currency weekend conversions, and some premium features. The paid plans (Plus, Premium, Metal, Ultra) add benefits like higher limits, travel insurance, and cashback.
What are the limits on withdrawing cash with the free plan?
With the free plan, you can withdraw up to a certain amount per month (often around $300 or €200) without a fee, after which a 2% fee applies. The specific limit varies by country and currency, and paid plans offer higher or unlimited ATM withdrawals.
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