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Revolut offers a number of solutions for businesses, including online accounts, international payments and virtual company debit cards.
If you’ve been using Revolut Business but have decided that it’s time for a change, read on. We’ve put together a helpful guide on how to close your Revolut business account in the UK, covering everything you need to know.
We’ll even show you an alternative, the Wise Business account. It’s ideal for low cost international payments, multi-currency spending and much more.
Before you start the process of shutting down your Revolut, there are a few key things you’ll need to do.
This includes clearing the account of all funds and cancelling all pending transactions (or waiting for them to be completed). Only the account owner can request the closure.
All set? Here’s how to close your Revolut Business account online and in the app, using the same steps for both methods:¹
- Sign in to your account online or in the Revolut app
- Go to ‘Settings’
- Scroll to the bottom of the page to find the options to ‘Close account’
- You may be asked to provide a reason for closing the account
- Follow the on-screen instructions and confirm the closure of your account.
In most cases, the account will be closed instantly. However, there are situations where it may take a little time for the process to be completed.
The steps above are for subscribers on a ‘free’ plan. If you have a paid plan, you’ll need to go to the ‘Billing’ page to change your subscription.
If you need to clear your balance before requesting the closure of your account, here’s how to do it:²
- Sign into your Revolut account
- Go to ‘Payments’
- Select the account you’d like to transfer to from the list, or click the ‘+New’ button to add a new recipient
- Follow the on-screen instructions and confirm your transfer.
|💡 Read more about withdrawing from your Revolut Business account here|
Need help closing your account, or have a question? Unfortunately, there isn’t a dedicated Revolut Business contact number in the UK. Nor is there a Revolut Business support email address you can use.
You’ll need to use the chat support option on the website or app.³
The only exception is if you have a custom Enterprise plan with Revolut, when you may be able to schedule a call with your account manager.
As this is a business account you’re closing, it’s really important to get copies of your transaction history before losing access altogether. You’ll need these for your records and for accounting and tax purposes.
Revolut may not automatically issue you with statements when closing your account. So, it’s a good idea to login and download them before initiating the closure.
Here’s how to download your Statement of Balances:⁴
- Go to ‘Settings’
- Open the ‘Statements’ page
- Select ‘Statement of balances’
- Select the date and click ‘Get statement’ to download it.
When you’re ready for a new account, you’ll be pleased to know that there are plenty of Revolut Business alternatives out there.
One of the best is Wise Business. It’s a fast, easy and powerful business account which makes trading internationally a breeze.
With Wise Business account you can:
- Get paid faster with local account details in 8 currencies, including EUR, GBP and USD
- Make international payments for low fees and the mid-market exchange rate
- Manage employee expenses worldwide with Wise Business expense cards
- Seamlessly integrate with your favourite accounting software
- Earn interest on your GBP balance
- Pay up to 1,000 people at once.
If your company employs global contractors or freelancers, or buys or sells in foreign markets, Wise has you covered.
And there you go - all the essential info you need to close a Revolut Business account.
It’s relatively easy to do, but a little disappointing that there’s no phone number you can call if you need help. But you can always use the chat function to speak to customer support.
Just remember to clear your balance and download all the statements you need before getting started.
- Revolut - Help - How do I close my account?
- Revolut - Help - Making a bank transfer
- Revolut - Help - How to contact business support
- Revolut - Help - How can I download a statement of balances?
Sources last checked on July 24, 2023
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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