How to Withdraw Money from Revolut: Methods and Costs

by | Mar 5, 2024 | Money | 0 comments

Methods for Withdrawing Money from Revolut

Revolut provides several convenient methods for withdrawing your money from your account. Whether you prefer to use a physical card, transfer funds to another bank account, or withdraw from your Revolut Flexible Account, there are options available to suit your needs.

It’s important to understand the different withdrawal methods, their requirements, and any associated fees or limits. By familiarizing yourself with these details, you can choose the most suitable option for your specific situation and ensure a smooth and hassle-free withdrawal process.

Withdrawing Cash Using a Revolut Physical Card

One of the most common ways to withdraw money from your Revolut account is by using your Revolut physical card at an ATM. To do this, you’ll need to ensure that your card is active and that you have sufficient funds in your account. Revolut partners with the Allpoint ATM network, which provides access to thousands of ATMs worldwide.

When using your Revolut physical card for cash withdrawals, simply insert your card into the ATM, enter your PIN, and follow the on-screen instructions to complete the transaction. Keep in mind that there may be fees associated with ATM withdrawals, depending on your Revolut plan and the ATM provider.

Withdrawing Money from a Revolut Flexible Account

If you have a Revolut Flexible Account, you can easily withdraw your money directly from the Revolut app. To do this, navigate to the “Savings” section within the app and select your Flexible Account. From there, tap on the “Withdraw” button and enter the amount you wish to withdraw.

The funds will be instantly transferred from your Flexible Account to your main Revolut current account. Depending on the terms and conditions of your Flexible Account, the transfer may take a few business days to complete. Be sure to review the Terms and Conditions associated with your Flexible Account for any specific withdrawal requirements or limitations.

Transferring Money from Revolut to Another Bank Account

Another option for withdrawing money from your Revolut account is to transfer the funds to another bank account. This can be done easily through the Revolut app by selecting the “Transfers” tab and entering the necessary details, such as the recipient’s bank account information and the amount you wish to transfer.

When transferring money from Revolut to another bank account, be aware of any potential fees or currency conversion charges that may apply. Revolut offers competitive exchange rates for international transfers, but it’s always a good idea to review the fees and rates before initiating the transaction.

Requirements for Withdrawing Money from Revolut

To ensure a smooth and successful withdrawal process, there are certain requirements that you need to meet when withdrawing money from your Revolut account. These requirements are in place to protect your funds and maintain the security of your account.

Activating Your Revolut Card for Withdrawals

Before you can use your Revolut card for cash withdrawals, you’ll need to activate it. This can be done easily through the Revolut app by navigating to the “Cards” section and following the activation prompts. Once your card is activated, you’ll be able to enable cash withdrawals and set your preferred withdrawal limits.

It’s important to keep your Revolut card safe and secure at all times. If your card is lost or stolen, be sure to block it immediately through the app to prevent unauthorized transactions.

Ensuring Sufficient Funds in Your Revolut Account

Another key requirement for withdrawing money from your Revolut account is ensuring that you have sufficient funds available. Before initiating a withdrawal, whether through an ATM or by transferring funds to another account, double-check your account balance to avoid any declined transactions or overdraft fees.

If you have multiple currencies or Pockets within your Revolut account, make sure you have enough funds in the specific currency or Pocket you wish to withdraw from. Revolut’s app provides real-time updates on your account balances, making it easy to stay on top of your finances.

Fees and Limits for Revolut Withdrawals

When withdrawing money from your Revolut account, it’s important to be aware of any applicable fees and limits. These can vary depending on your Revolut plan and the withdrawal method you choose.

ATM Withdrawal Fees for Different Revolut Plans

Revolut offers different account plans, such as Standard, Premium, and Metal, each with its own set of features and benefits. When it comes to ATM withdrawal fees, the charges may differ based on your chosen plan.

Revolut Plan ATM Withdrawal Fees
Standard 2% fee for withdrawals over the monthly free limit
Premium No fees for withdrawals up to a higher monthly limit
Metal No fees for withdrawals up to an even higher monthly limit

Be sure to review the specific terms and conditions of your Revolut plan to understand the applicable ATM withdrawal fees and how to minimize them.

Monthly Withdrawal Limits for Revolut Accounts

In addition to fees, Revolut also imposes monthly withdrawal limits on its accounts. These limits are in place to ensure the security and integrity of the platform. The exact withdrawal limits may vary depending on your account tier and verification status.

For example, Standard account holders may have a lower monthly withdrawal limit compared to Premium or Metal account holders. If you need to withdraw a larger amount, you may need to upgrade your account or verify additional information to increase your limits.

Troubleshooting Revolut Withdrawal Issues

While Revolut strives to provide a seamless withdrawal experience, there may be instances where you encounter issues or difficulties. Here are some common problems and how to address them.

What to Do If Your Revolut Card Is Declined at an ATM

If your Revolut card is declined at an ATM, there could be several reasons behind it. First, ensure that you have sufficient funds in your account and that your card is active and enabled for withdrawals. If the issue persists, try the following steps:

  • Check if you’ve reached your monthly withdrawal limit
  • Ensure that the ATM is compatible with your card type (Visa or Mastercard)
  • Contact Revolut customer support for further assistance

In some cases, the ATM may be experiencing technical difficulties or may not support certain card types. If possible, try using a different ATM or withdrawal method.

Contacting Revolut Customer Support for Withdrawal Assistance

If you encounter any issues or have questions regarding withdrawing money from your Revolut account, don’t hesitate to reach out to Revolut customer support. They are available to assist you through various channels:

  • In-app chat: Use the chat feature within the Revolut app for quick and convenient support
  • Phone support: Call the dedicated Revolut support line for your country or region
  • Email support: Send an email to the Revolut support team detailing your issue or inquiry

When contacting customer support, be sure to provide as much information as possible about your withdrawal issue, including any error messages, transaction details, and screenshots if applicable. The more details you can provide, the better equipped the support team will be to assist you in resolving the problem promptly.

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