Revolut Overview: How It Works, Features, Reviews
A practical look at Revolut for Indian exporters and freelancers. We cover why Revolut Business isn't open to Indian companies at all, what its India presence really offers, and how Skydo compares
RBI's PA-CB framework
AICPA SOC2 certified
ISO: 2022 CertifiedWhat Is Revolut?
Revolut is a UK-based fintech, founded in 2015 and now valued at $75 billion. It serves over 70 million customers and 800,000+ businesses, known for interbank FX and its broad banking app
Revolut Business cannot be opened by an India-incorporated company; the firm must instead be registered in the UK, EEA, Switzerland, Australia, Singapore or the US. Its India entities hold only consumer PPI and AD-II licences, not export receiving
In India, Revolut is mostly known as a consumer wallet and card app; it has no business-receiving product Indian exporters can sign up for.
How Does Revolut Work?
Revolut Business gives non-Indian companies receiving accounts in 25+ currencies. Indian companies can't use it.
Revolut Business
Only for companies incorporated in UK, EEA, Switzerland, Australia, Singapore or US.
Interbank FX
Zero markup within your plan's allowance and market hours; fees apply beyond.
Revolut app
Track balances, but not usable by an India exporter at all.
No settlement path to an Indian bank exists via Revolut Business, since India-incorporated companies simply cannot open this account
Revolut's India entities (PPI, AD-II) don't cover export receiving, so there's no FIRA or eBRC path via Revolut for exporters
Revolut Key Features
A quick look at the Revolut features most relevant to Indian exporters and freelancers.
Multi-currency accounts
Hold 25+ currencies, but not available to India-incorporated firms.
Interbank FX & Transfers
Zero markup within your allowance, plus fees above it or after hours.
Revolut Business app
Track payments and cards, for eligible countries only, not India.
Corporate cards
Physical and virtual cards for UK, EEA, US entities only.
Global transfers
Send to 150+ destinations from an eligible company
Bulk payments
Pay up to 1,000 recipients across currencies at a time.
API and integrations
Connect to Xero, QuickBooks, NetSuite for reporting.
Limit and Stop orders
Automate currency exchange at a target rate you set in advance.
Bank grade security
Licensed bank in the EEA and UK; partner-bank model elsewhere.
Revolut Pricing and Fees
Revolut Business is transparent on price for the countries it serves. The catch for India is availability itself. Here's the full breakdown for Indian exporters, with a worked example and a side-by-side calculator versus Skydo.
On a $10,000 invoice, Revolut Business simply isn't an option for an India-incorporated exporter. Skydo charges a flat $29 with zero FX markup and settles the same invoice directly into your Indian bank account.
Revolut Pros and Cons
- Genuinely zero FX markup within plan allowance
- Broad multi-currency accounts in 25+ currencies
- Polished app, widely praised abroad
- Backed by $75B+ valuation, globally recognised
- Strong API and accounting integrations
- Bulk payments and corporate cards available
- 24/7 support, large global customer base
- Full UK and EEA banking licences held
- Business account can't be opened by an India firm
- India presence is a consumer PPI/AD-II wallet only
- No FIRA, eBRC or GST invoicing in India
- No RBI PA-CB or AD Category-I licence held
- No India settlement path exists at all
- Reviews don't reflect the India experience
- Support is built for eligible countries, not India
- Unusable for the job Indian exporters need
Revolut for Indian Freelancers and Exporters
Revolut has real strengths abroad, and a real gap in India.
When Revolut makes sense.
Your company is incorporated in the UK, EEA, Switzerland, Australia, Singapore or the US. You want interbank FX with zero markup within an allowance. You need multi-currency accounts and cards
When Revolut stops making sense.
Your company is incorporated in India and you need to receive export payments. You need FIRA and eBRC for GST and DGFT compliance. You want an account you can actually open as an exporter today
Revolut User Reviews: What Customers Say
Quotes paraphrased from public G2 and Trustpilot reviews of Revolut Business, written abroad.
"Interbank rates and a clean dashboard make cross-border spend genuinely simple."
"Fast onboarding, real interbank rates, and the app is a genuine pleasure to use."
"Account got flagged during a review with limited communication meanwhile."
"Revolut has an in-app support, but its not easy to reach a human agent."
"Randomly decided to close my account, with no explanation despite my countless efforts at some kind of correspondence."
"I have been using Revolut for 3 years without a single problem"
Reviews paraphrased from publicly available sources. They reflect individual experiences, not Skydo's endorsement.
How Does Skydo Compare to Revolut?
Here's a side-by-side look at Revolut and Skydo across the things that actually matter for Indian exporters.
Transaction fee structure
N/A in India
Flat $19 / $29 / 0.3%
FIRA
Not offered
Free, instant, per transaction
eBRC for Amazon sellers
Not supported
eBRC closure assistance
GST-compliant invoicing
Not available
Available on the dashboard
Settlement time
N/A — no India settlement path
Within 24 hours
Hold foreign currency (India)
Not applicable; Indian firms can't try
RBI prevents holding foreign currency
India-based support
Not India-based; no product at
Chat, Call and WhatsApp
RBI authorisation
PPI & AD-II only, no PA-CB
Full PA-CB licence
Best for
Interbank FX for eligible companies only
Recurring B2B exports, $500-$100K invoices
Frequently Asked Questions About Revolut
Is Revolut available for businesses in India?
No, not for India-incorporated companies. Revolut Business requires the company itself to be registered in the UK, EEA, Switzerland, Australia, Singapore or US. Revolut's actual India presence is a consumer product (a PPI-licensed wallet and AD-II forex service), not a business account Indian exporters can open to receive international payments.
How much does Revolut charge in India?
For eligible companies abroad, Revolut Business runs $10-$140+/month plans with a free FX and transfer allowance, then 0.6-1% fees beyond it. None of this applies in India, since an India-incorporated company cannot open the account at all to test these fees in the first place.
Can I hold USD in my Revolut account in India?
No. Revolut Business isn't available to India-incorporated companies, so there's no India account to hold USD in. Revolut's separate India entities (PPI and AD-II licensed) are consumer products for cards and specific personal remittances, not a business account for holding foreign currency.
Does Revolut provide FIRA?
No. Revolut's India entities hold only a PPI licence (prepaid cards, wallets) and an AD-II licence (specific non-trade remittances), neither of which covers export receiving. FIRA requires a PA-CB or AD Category-I authorisation, which Revolut does not hold in India, so it cannot issue FIRA for exporters at all.
Is Revolut safe to use in India?
Revolut Business is a well-regulated, licensed bank in the UK and EEA, generally considered safe for the countries where it operates. However, it isn't usable at all for an India-incorporated exporter, since the business account cannot be opened by a company registered in India in the first place.
What's the best Revolut alternative for Indian freelancers?
Since Revolut Business isn't available to India-incorporated companies at all, the better comparison is any platform actually built for Indian exporters to receive international payments with proper compliance. Skydo, for example, offers RBI-aligned receiving with automatic FIRA and eBRC for Indian freelancers.
Can I send money out of India with Revolut?
Revolut's outward remittance tools are built for companies with an eligible Revolut Business account abroad, not for India-incorporated businesses. For sending money out of India personally under LRS, you'd typically use your bank or a dedicated remittance platform instead of Revolut.
Should I use Revolut or Skydo?
If your company is incorporated in India, Revolut isn't actually a choice you can make, since the account cannot be opened at all. Skydo, or a similar platform built for Indian exporters, is the realistic option for receiving international payments and getting FIRA and eBRC done properly.
Revolut Business Isn't Open in India Yet
- Save as much as ₹8 lakh annually with Zero FX Margin
- Get international bank accounts in 5 mins across US, UK, EU and more
- Real time payment tracking and instant FIRA