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Revolut's Free Standard Account: What Is Actually Free, and What Quietly Costs Money

Revolut's Free Standard Account: What Is Actually Free, and What Quietly Costs Money

One-line summary: Revolut's Standard plan really is $0 a month with $0 to open — the whole flow takes about 10 minutes in the app — but you must be a legal resident of a supported country, pass a passport-plus-selfie check, and watch out for exchange allowances, weekend exchange fees and ATM limits.

What you need

  • To be 18 or older and a legal resident of a supported country (the US, the UK, many EU countries, Japan and others; residents of mainland China are not on the supported list — do not waste verification attempts)
  • A phone that can receive an SMS code
  • A government-issued ID: passport, driver's licence or national ID (US accounts also need an SSN — see Step 2)
  • An email address; no deposit and no credit card is needed to open the account

Scope check: this article is for people already living in a supported country who need a multi-currency account. If you live elsewhere, compare with the series' October 20 Wise article instead.

Step 1: Download the app and pick Standard — not a paid tier by accident

Revolut US account requirements and sign-up flow

  1. Download the Revolut app from the App Store or Google Play (check the official developer name — copycat apps exist).
  2. Enter your phone number and confirm the SMS code.
  3. Set a 6-digit passcode and enable Face ID or fingerprint login if offered.
  4. Enter your full name, date of birth, address, email and citizenship details.
  5. At the plan step, choose Standard (free): Revolut's own wording is no monthly fee, no set-up fee and no account-holding fee. Premium, Metal and other paid tiers are separate prices — do not tap through an upgrade without reading it. You can upgrade or downgrade in the app at any time.

Step 2: ID photo + selfie check (US accounts also need an SSN)

  1. Photograph your ID front and back in good light, all four corners visible, no glare.
  2. Complete the in-app selfie check (follow the head-turn prompts; no sunglasses or masks).
  3. US accounts: you need an SSN (Social Security number). Revolut's US flow notes that a visa can unlock basic transfer features, but a full account still rests on SSN + ID verification — without an SSN, do not expect a full US account.
  4. German / European accounts: Revolut states that opening a basic current account involves no credit check such as SCHUFA (it is a debit account — you spend money already in it). A credit check only appears later if you apply for a credit product.
  5. Once verification passes, the account is ready. If it fails, fix the exact reason the app gives and re-photograph — do not keep resubmitting the same blurry image.

Step 3: Before you add money, understand the three charges

Revolut German current account: free plan and fee notes

What is genuinely free on Standard:

  • Opening, holding and the Standard monthly fee: $0 / €0
  • Transfers between Revolut users and local transfers (US ACH, European SEPA): generally no transfer fee
  • Holding 25–35+ currencies in the app (the exact count varies by region)

What is easy to miss (third-party figures re-checked against Revolut's official pricing on October 20, 2026 — your app's live quote always wins):

  1. Exchange allowance: the free plan's monthly exchange allowance is limited. Weekday exchanges inside the allowance carry no extra fee; beyond it, a fair-usage fee applies.
  2. Weekend exchanges: exchanging at the weekend can add a fee. Move large exchanges to weekdays when you can.
  3. International transfers: sending in the recipient's own currency costs from 0.15% on a US account (with a minimum) on the third-party reading. The app shows the fee, the rate and the amount the recipient gets before you confirm — if you cannot see all three, do not confirm.
  4. Cards and cash: free virtual cards for Apple Pay / Google Pay are standard; physical-card delivery and free ATM limits vary by region and plan, with fees beyond them.

Third-party fee check: free-plan allowance and weekend rules

Practical rule: test with one small exchange and one small transfer first, check the received amount matches the app's estimate, and only then move larger sums.

Step 4: Three settings to finish before daily use

  1. Statements: the app can generate PDF / Excel statements by date range — keep them as address proof or tax records (see the series' October 23 address-proof article for how banks' statements are used).
  2. Security: enable biometric login, transaction notifications and the in-app card-freeze switch. If a card is lost, freeze it in the app first.
  3. Upgrade cooling-off: paid tiers sell higher exchange allowances, travel insurance and points. Use Standard for a month first and check whether you actually exceed the free exchange allowance before paying.

Costs, limits and warnings

  • Summary: Standard monthly fee $0; exchange, international-transfer and ATM costs depend on allowance, day of week and currency — the in-app confirmation screen is the quote.
  • Never buy a "verified Revolut account": as with the series' October 23 Airwallex article, buying a verified account breaks platform rules and gets frozen. Only ever open an account with your own ID.
  • Compliance freezes are real: any digital bank will review large or unexplained inflows. Keep source-of-funds proof ready for large deposits, and do not run obvious business flows through a personal account.
  • Not verified: the supported-country list, physical-card delivery fees and free ATM allowances vary by region and were not checked country by country here; the SSN point comes from Revolut's US guide, and the no-credit-check point from its German pages.

Sources