Revolut bank allows Ukrainian refugees to access their money by linking the Revolut app to their Ukrainian bank account. Its standard account can also be used to send or receive money as well as exchange currency. Revolut has removed a number of fees including monthly and foreign currency exchange fees. The online account is available in EEA, Australia, Singapore, Switzerland, Japan, the United Kingdom and the United States.
Read this post in Ukrainian: Рахунок Revolut для біженців з України
Revolut Account for Ukrainian Refugees: Key Takeaways
- The Revolut app will help those with limited possessions and documentation, to get quick and easy access to their money in their Ukrainian bank accounts.
- Setting up an account in the EEA usually requires proof of a right to reside in Europe. Revolut has removed this requirement.
- Ukrainian refugees can access their money by linking the Revolut app to their Ukrainian bank account.
How to Open Revolut Account
To open your Revolut account, you need to download the Revolut app and follow these steps:
- Tap ‘Sign up’ and enter the phone number you’re currently using. It can be any phone number, including your Ukrainian phone number, as long as you can receive text messages to it.
- Select the country you’re currently in as your country of residence, e.g. Poland or Slovakia.
- Provide your current address outside Ukraine, e.g. address of the shelter, and fill out your personal information.
- Confirm your identity by selecting and uploading your Ukrainian passport or identity card, as these are the documents that allow Ukrainian refugees to open an account. However, if you’re of another nationality coming from Ukraine, you’ll need to follow the same steps and upload your passport as well as your Ukrainian visa.
With the war in Ukraine displacing more than two million people already, we felt it was imperative to help those most affected by providing a service that gives them easy, quick access to their money. Bank transfers are often slow and expensive so we hope this Revolut initiative provides a simpler alternative. I am immensely proud to be part of a British fintech that can quickly help the Ukrainian people in their time of need. – Vlad Yatsenko, Co-founder and CTO of Revolut
Revolut Services for Ukrainian Refugees
Once your Revolut account is set up, you will be able to link any Ukrainian bank card with your Revolut account and can immediately begin adding money to your account in a variety of currencies. Services available for the refugee account include:
- Access your funds in Ukraine by linking the Revolut mobile app to your Ukrainian bank account
- Transfer money from a bank card into the Revolut app and then exchange the funds into a number of different currencies.
- Using the Revolut virtual card you will be able to use Apple Pay or Google pay for contactless transactions.
- Using the physical card, you will be able to use this like any debit card as well as for ATM withdrawals, which will be limited to €500 per day.
- You will be able to use multiple physical cards under the standard plan.
- Friends and relatives already in Europe will also be able to transfer money into your account quickly and securely.
Revolut is a crypto friendly bank that allows you to buy, store and sell cryptocurrencies with its app. However, crypto services as well as insurance and stock trading won’t be available within the app for Ukrainian refugees for the time being.
How to Add Hryvnias to Revolut account
You will be able to transfer money from a bank card into the Revolut app and then exchange the funds into a number of different currencies Revolut offers, which include CAD, CZK, DKK, EUR, GBP, HRK, HUF, JPY, NOK, PLN, RON, SEK, and USD.
Currently, Revolut does not offer Ukrainian Hryvnia as a currency option so once your bank card is linked to your Revolut account, you will need to transfer money over into another currency of your choice.
How to Order Revolut Card as a Refugee
With your Revolut account, you will also get the Revolut card (physical and virtual card). The Revolut card can be used anywhere in the EEA and Ukraine, with a limit of €1,500 a day via outbound bank transfer and Revolut peer-to-peer.
There is no fee for standard card delivery. You need to list your current address, e.g., your current accommodation, shelter address.
Revolut Fees for Ukrainian Refugees
- ATM withdrawals are free up to €200.
- Foreign currency exchange fees are free up to €6,000 per month.
- Weekend foreign currency exchange fees remain in place.
- Revolut money transfer to Ukraine is free.
- You will be able to make one free international transfer per month.
Revolut’s Supported Countries
You can open banking account with Revolut if you are a Ukrainian refugee in the European Economic Area (EEA), Australia, Singapore, Switzerland, Japan, the United Kingdom and the United States.
Other Baking Solutions for Ukrainian Refugees
- Free bunq Bank Account for Ukrainian Refugees
- Wise Bank Account for Ukrainian Refugees
- Bank Account for Ukrainian Refugees in Latvia
- Monese Account for Ukrainian Refugees in EEA and UK
- List of Free Ukrainian Refugees Bank Accounts in UK