Revolut becomes the latest fintech to cut fees for banking and crypto trades


Revolut, which started in the United Kingdom and quietly launched in the U.S. in March 2020, is cutting down the number of fees its customers potentially pay. Under Tuesday’s changes, customers will be able to make 10 international remittance payments a month to anyone in 30 countries, as well as withdrawal up to $1,200 from out-of-network ATMs each month without incurring fees. Additionally, Revolut U.S. customers will be able to trade up to $200,000 per month in cryptocurrency commission-free. In comparison, Robinhood offers commission-free cryptocurrency trading while Coinbase charges between 0.04% and 0.50% per trade.

“If you’re a power user of crypto and you want to use more than $200,000, there’s going to be a fee,” CEO Ronald Oliveira told Fortune. But most of Revolut’s customers should fall under that limit, he says. “Most of our customers, it’s just part of their choices that they want to have to diversify and spread their risk and and grow their net worth.”

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