Does Revolut Work in USA?
Revolut, a digital banking app that has gained significant popularity in Europe, has been expanding its reach globally. With its user-friendly interface and innovative features, many Americans are curious about whether Revolut works in the USA. In this article, we will explore the availability, features, and limitations of Revolut in the United States.
Availability in the USA
Revolut is currently available in the United States, but with certain limitations. The app can be downloaded and installed on both iOS and Android devices. However, the range of services offered to American users is more limited compared to those in Europe.
Features Available in the USA
While Revolut offers a wide range of services in Europe, American users can access some of the key features, including:
1. Currency exchange: Users can exchange over 30 currencies with competitive exchange rates.
2. Multi-currency account: Users can hold multiple currencies in their Revolut account.
3. Debit card: Revolut provides a virtual and physical Mastercard debit card for making purchases and withdrawing cash.
4. Budgeting and expense tracking: The app allows users to set budgets and track their spending.
5. Insurance: Revolut offers travel insurance and purchase protection for eligible transactions.
Limitations in the USA
Despite offering some of its key features, Revolut has certain limitations in the USA:
1. No bank account: Revolut does not offer a traditional bank account with a routing number, which means users cannot receive direct deposits or make wire transfers.
2. No interest on savings: Revolut does not offer interest on savings accounts, which is a feature available in Europe.
3. No credit card: While Revolut provides a Mastercard debit card, it does not offer a credit card, which is a common feature in Europe.
Conclusion
In conclusion, Revolut does work in the USA, but with some limitations. American users can still enjoy some of the app’s key features, such as currency exchange, multi-currency account, and budgeting tools. However, they will not have access to all the services offered in Europe, such as a traditional bank account, interest on savings, and credit cards. Whether Revolut is the right choice for you depends on your specific banking needs and preferences.
