How Revolut saved Businesses over $14m in fees ๐Ÿ˜ฒ

Rob Braileanu

 ยท 06/21/2018  ยท 06/21/2018

In just one year since we launched, Revolut Business helped companies pocket over $14m in fees. And with 120 new companies signing up every day, how did we achieve this milestone? ๐Ÿค”

While consumer banking has been making leaps and bounds in the last couple of years, business banking has well and truly taken a back seat. From endless fees to dated technology, it became strikingly apparent that a new player had to emerge - one that was ready to disrupt the world of business banking like never before.

Enter Revolut! Here's what we did to help businesses across Europe manage their finances:

Solved international payments ๐Ÿ’ธ

If you thought that sending money abroad from your regular old-fashioned bank costs a lot, then doing the same thing for your business costs a fortune!

With Revolut Business, you can send money worldwide in 28 different currencies with no fees. This means that you can pay your suppliers in Polish Zloty or get paid in Japanese Yen from your clients overseas, all while handling your business expenses at home, in Pounds.

Instant access to multi-currencies ๐Ÿ’ท

Up until recently, just a handful of businesses were able to get a hold of a multi-currency account and those that did usually paid a high premium.

This isn't the case with Revolut, since our Business product allows you to hold and exchange 28 different currencies, all from a streamlined online banking portal.

Designed a beautiful interface ๐Ÿ–ฅ๏ธ

How many times have you had to wait in line at the bank to cash a cheque or ask for a new corporate card, only to be told you need lots of paperwork and that it could take weeks for your new card to arrive - frustrating, right?

Our sleek new interface gives you total control over your business finances. From managing company-wide accounts, to issuing corporate cards, you can do all this at the click of a button - problem solved!

Reduced employee expense costs ๐Ÿ’ณ

Employee expenses are a normal part of the daily running of a business. But what do you do if you manage multiple teams abroad and each team needs to use a different currency?

First things first - say goodbye to sneaky bank fees and pumped up exchange rates. Revolut Business lets you issue Corporate Cards in any of the currencies we support. So if your video team for example is filming in South Africa, they can have cards issued in the local currency, while your business development guys who are spending a week in Italy, can have their cards issued in Euros.

๐Ÿ‘†๐Ÿป Don't just take our word for it - find out how social media giant UNILAD uses Revolut Business ๐Ÿ˜‰

Implemented an Open API โš™๏ธ

Tired of endlessly exporting and importing spreadsheets? So were we, which is why we built something that would make spreadsheets obsolete.

Our Open API allow your Revolut Business account to connect with most other software you use. You can use the API to automate a variety of tasks between different applications andou can even use the API to build your own integrations for things like getting notifications whenever a transaction has been made - the sky is the limit!

Learn how ride-hailing app SnapCar uses Revolut Business to pay their drivers instantly after every work day. ๐Ÿš˜

Launched Revolut Connect ๐Ÿš€

Revolut Connect is like the App Store, only instead of hosting apps for your iPhone, you'll find apps for business banking; and best of all - they're free!

Revolut Connect allows businesses to build integrations with popular business apps such as FreeAgent, Slack or soon, Xero. This opens up a world of possibilities for things like automating payments, receiving instant payment notifications, data streaming directly to your accounting software and more.

Know a company that could benefit from using Revolut Business? ๐Ÿ‘‹๐Ÿป

That's great - tell us all about it! Just like SnapCar, there are thousands of other companies that can benefit from many of the features included in our business accounts. Use the form below to refer a company to Revolut Business. ๐Ÿ‘‡๐Ÿป