Revolut Premium – Test & Review

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Product is rated as #5 in category Swiss Neobanks
8
Account opening10
Ergonomie9
Features7
Credit Card8
Fees7
Speed8
Customer Service7

Revolut offers a Premium account to Swiss residents.

The Premium account is not free, but offers more services that Revolut Standard and is more cost effective for regular users.

The mobile application is free, as well as the Debit card. Revolut offers very competitive exchange rates and is an ideal solution for travel.

Description

Revolut offers 3 types of multi-currency account in Switzerland:

According to our Test & review of Revolut, the Premium account has the best value for Swiss residents among all Revolut plans.

For a quick overview : compare Revolut Standard vs Revolut Premium


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Revolut Premium pricing

The Revolut Premium plan costs 8.99 CHF/month.

Revolut Premium card

The Revolut Premium account comes with 2 free cards (instead of one with Revolut Standard).

The Premium card feels more plus “high level” and you can choose the color, but that’s still plastic!


Delivery is free, using Express.

Important: if you request a Premium card but want to cancel within 14 days following sign-up, Revolut will charge you delivery fees.

The Revolut Premium card is free when used as payment method, that means for online shopping and mobile payments. There is no fee for payment in foreign currencies and Revolut applies the Interbank exchange rates without adding any extra fee or commission.

Cash withdrawals are capped at 400 CHF per month, then a 2% surcharge applies.

Bank transfers in Switzerland in CHF

No fee if the main currency of your Revolut account is CHF and if you pay in CHF another account based in Switzerland.

SEPA transfer fees in EUR

Like most neobanks, Revolut Premium offers free SEPA transfers in EUR within the SEPA zone. You can create a SEPA payment within seconds from the app.

International SWIFT payments

With Revolut Premium, you get 1 free transfer each month, then you pay 3 CHF per transfer is the payment is in USD, otherwise it’s 5 CHF for any other currency.

Frais de change sur les virements multi-devises

Unlike Revolut Standard, you get unlimited no-fee currency exchange with Revolut Premium.

But there is a 0.5% surchage for multi-currency transfers initiated on week-ends and UK bank holidays. Revolut says that they need to cover the risk while markets are closed.

Instant transfers

Similar to Beam with N26, you can transfer money instantly from a Revolut account to another Revolut account. That type of transfer is really instant and free. whatever the currency and the country.

See the Revolut pricing on their website.

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Why choose a Revolut Premium plan

Revolut Premium is cost-effective if:

  • You need to withdraw more than 200 CHF per month = 4 CHF saved for 400 CHF withdrawn
  • You need to exchange more than 1,000 CHF per month = 5 CHF saved for an extra 1,000 exchanged

If you are a regular Revolut user, it is recommended to take advantage of the Premium plan because it becomes profitable after a few transactions.

In addition to potential savings, Revolut Premium offers the following services:

  • Overseas medical insurance
  • Delayed baggage and flight insurance
  • 24/7 priority customer support
  • Cartes virtuelles éphémères
  • Free lounge access with SmartDelay for flights delayed more than 1 hour
  • Revolut Junior for 2 children

Most of these advantages are interesting if you travel frequently and don’t have an American Express card.

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About Revolut Junior

With Revolut Premium you can have 2 children on Revolut Junior. If you need more you have to upgrade to Revolut Metal. This feature allows you to create a sub-account for a child aged 7 to 17 and receive card for each of them.

There are currently too few features within Revolut Junior. It’s more like a Space but not like a child account: you can’t set limits on the use of the card. Tat means that your child can spend the full balance available of the Junior account.

Revolut Junior account
Revolut Junior weekly allowance

Revolut Junior accounts are not multi-currency. That means that your child will not be able to use the card while travelling, the same way you do with your Revolut card.

The only interesting feature is the “Weekly allowance” that allows you to transfer a fixed amount on a weekly basis

8Expert Score
Revolut Premium review
Revolut offers a Premium account to Swiss residents. The Premium account is not free, but offers more services that Revolut Standard and is more cost effective for regular users. The mobile application is free, as well as the Debit card. Revolut offers very competitive exchange rates and is an ideal solution for travel.
Account opening
10
Ergonomie
9
Features
7
Credit Card
8
Fees
7
Speed
8
Customer Service
7
PROS
  • Fast account opening
  • Free multi-currency account
  • Excellent user interface
  • Quick access to customer service
  • Excellent exchange rates
CONS
  • Bank transfers up to 5 days
  • Fees increase frequently

Additional information

Specification: Revolut Premium – Test & Review

Account
Currencies CHF, EUR, GBP, Multi-currency, USD
IBAN GB IBAN
Supported devices Android, iPhone
Push notifications Yes
Standard account Free
Premium account CHF 7.99/m.
Metal account CHF 15.99/m.
CHF transfers in Switzerland Free
SEPA transfers (EUR) Free
Card
Card types MasterCard
1st Card Free
Replacement card Free
CHF withdrawals in Switzerland Free up to CHF 200/m. then 2%
EUR withdrawals in Switzerland Free up to CHF 200/m. then 2%
EUR withdrawals abroad Free up to CHF 200/m. then 2%
Customers
Minimum age 18 years
Target Private, Business
Countries Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Roumania, Singapore, Slovakia, Slovania, Spain, Sweden, Switzerland, United Kingdom, United States

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