How to withdraw money from Revolut

If you’re using Revolut, you’ll probably need to withdraw some money from your account at a certain point. Whether it’s for topping up your bank account or just having some pounds in cash, you should know the process.

In this guide, we’ll look at how to withdraw money from Revolut. We’ll also talk about money-saving alternatives such as the Wise account which help you avoid exchange rate mark-ups if you’re withdrawing balances in different currencies.

Learn more about the Wise account 💰

How do I withdraw money from Revolut?

If you receive money from a friend, family member or client through the Revolut app, here are your options for withdrawing it:

• Withdrawal to another bank account
• Withdrawal from an ATM
• Spending with your Revolut debit card

Now that you know your options, let’s begin explaining in more detail how to withdraw money from Revolut.

How to transfer money from Revolut to a bank account¹

Here’s how to withdraw money from Revolut to your bank account:

1. Go to your 'Home' screen and select the 'Payments' tab
2. Tap 'New' (plus symbol at the top right of the ‘Payments’ tab)
3. Tap 'Bank recipient’
4. Enter the necessary details or click ‘Create a payment link’ if you don’t have the necessary bank details

How to link your bank account with Revolut

You can link your bank account to Revolut to make transfers easier. Revolut supports links with most major banks and building societies operating in the UK, including NatWest, Lloyds, Barclays, HSBC, First Direct, TSB and Santander. The full list is available here.²

Once you link an account, you can top up directly from your bank in-app and send money back and forth between Revolut and your other accounts.

Here are the steps:³

1. Click the ‘more’ icon with three dots
2. Tap ‘Add new account’
3. Tap ‘Linked account’.

You can also do this:

1. Click on ‘Accounts’
2. Tap ‘Add new'
3. Click ‘Linked account’

How long does it take to withdraw money from Revolut?⁴

Your transfer should arrive in a few minutes, but the whole process can take up to 5 business days. Revolut even has their 'Add Money with One Tap' feature to save you even more time.

Revolut exchange rate

If you have a Revolut balance in a different currency to your bank account, you should probably know about their exchange rate for currency conversion.

Revolut uses a real-time exchange rate. They get it from data feeds from various independent sources. It also depends on the amount of money you’re converting.⁵

When it comes to additional fees, there’s two of them to consider. First, if you go over your plan’s monthly exchange limits, you’ll pay an exchange fee.⁶ And second, they charge a 1% currency exchange fee on the weekends, regardless of your plan.⁷

How to get a Revolut balance for a better rate

If you’re sending and receiving money in currencies other than the pound, getting a fair deal on currency exchange is very important. One option is to use Wise to avoid Revolut’s exchange rate mark-up.

When you open a Wise account, you get your own local account details for multiple currencies. You can then use these details to withdraw your Revolut balance.

So, let’s say you hold a Revolut balance in AUD. You can withdraw your money using your Australian bank details from Wise. If you do need to convert to GBP, you can do it easily and cheaply with Wise, at the mid-market exchange rate and with small, transparent fees.

Revolut fees: How much does Revolut charge?

Now, how much does it cost to access your money once it lands in your Revolut account? Here are the main fees you need to know about:

Revolut withdrawal limit in the UK

Revolut doesn’t have transfer limits for most currencies. You’ll be able to see exceptions to this in the app.¹³

However, when it comes to ATM withdrawals with the Revolut card, they are limited to £3,000 per day.¹⁴

Revolut debit card¹⁵

When you sign up for a Revolut account, you can also get a Revolut card. Depending on your plan, you can have up to 6 physical cards, 20 virtual cards and one single-use card.

How to contact Revolut¹⁶

If you’re having problems with withdrawing money from Revolut, here’s how to get help:

• Go to your Revolut app and use the in-app chat
• Write an email to support@revolut.com
• Read through the help centre FAQ

Wise – a low cost alternative to exchange rate mark-ups

If you’re searching for a low-cost way to withdraw money from your Revolut balance, take a look at the Wise account.

Wise allows you to send and receive money internationally for low, transparent fees. You can also use the Wise card for spending in 40+ currencies worldwide.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Sign up with Wise today 🚀

Sources used:

Sources last checked on date: 29-May-2024