July 2022: What's new from Revolut Business

Laurie Roxby

 · 07/28/2022  · 07/28/2022

We know it’s hot outside, but we’re still ramping up the heat at Revolut Business HQ. From sleek-and-simple card management to this summer’s must-have business accessory, July’s updates are jam-packed with new products and features to make a difference to your day-to-day.

Ready? Let’s dive in:

Invest your idle business cash into BTC and ETH

Based in the UK or Ireland and ready to explore a new frontier? Meet Crypto for Business, helping Company plan holders diversify your idle business cash in a few clicks. With it, you can buy, hold, and sell Bitcoin and Ether with 30+ fiat currencies, right from your Revolut Business account.

The account owner will need to sign Crypto T&Cs to unlock this feature.

Not regulated and not protected by investor compensation schemes. Cryptocurrencies are extremely volatile – value can go down as well as up. Trading may be subject to tax.

In the UK and Ireland, get paid in person with Revolut Reader

Want an easy way to process point-of-sale purchases from your customers? Look no further. Make in-person card and contactless payments as easy as cash with Revolut Reader. Payments are processed in five seconds, with low fees, and accessible in 24 hours – what’s not to like?

All you need to do is head to the Merchant tab within the app, hit ‘New request’ and select ‘Card reader’. You can then either order the card or, if you’ve got one, connect it and then you and your customers are good to go.

Card management made easier than ever

If you’re an admin, you can now search cards by employee name, email, or the last four digits of their card – as well as filtering by type or activity, and editing permissions and spend presets in bulk. Head to the Cards tab, click ‘See all’ and then from there, you can apply filters and bulk actions.

See, we told you it was easier than ever.

Super-simple card details

The improvements to your card settings just keep rolling in. In the Cards tab, you’ll now see a cleaner, simpler screen when accessing and managing your card, alongside a refreshed look in your Apple or Google wallet. Tap on each card to reveal the details, and then copy the information you need in the click of a button.

Introducing fee-free USD transfers for UK users

Next up, one of our most-requested new features. UK customers can now pay and receive USD like a local – without any additional charges. Give these details to US-based individuals and businesses so payments can be processed using ACH, the local US payment network, or continue to use your GB IBAN to receive payments via SWIFT.

Check the app to see your new account and ACH routing numbers. One thing to note: your new local account details don’t support direct debits or local wire transfers.

EEA, it’s official: We’re now a bank!

Recently, our EU banking license was extended to operate as a bank in the European Economic Area. So what does this mean for you? Well, there’s one big difference: funds in your current account up to EUR 100,000 are now protected by the Deposit Guarantee Scheme. All your account details remain the same, so no need to change anything for payments you’re looking to send or receive.

That’s all for now
And there we have it: a new batch of updates, hot off the press. We’ll see you again in a month’s time for more.