Revolut in Switzerland: Questions and Answers

Important: This moneyland.ch guide is provided for informational purposes because Revolut has a substantial user base in Switzerland. moneyland.ch does not have a business or editorial relationship with Revolut. This article should not be construed as a recommendation to use Revolut. If you use Revolut and encounter problems with its services, you should contact Revolut for assistance.

1. What is Revolut?

Revolut is a neobank that is headquartered in the United Kingdom. Mong other things, its basic services include a digital account for managing money, and various Mastercard and Visa payment cards. Revolut has long positioned itself in the market with low fees and favorable currency exchange rates. But recent analyses show that Revolut is no longer among the most affordable service providers.

The neobank Revolut has around one million customers in Switzerland, making it the most popular neobank at this point in time. However, the million-customer figure also includes customers who do not actively use Revolut.

Revolut has a business lincense from the Swiss financial supervisory authority Finma, but it does not possess a full bank license in Switzerland. The company has licenses in the United Kingdom and Lithuania. Revolut customers in Switzerland normally have a contractual relationship with the company Revolut Bank UAB in Lithuania. All of the information in this guide is based on the terms and conditions from Revolut Bank UAB for customers in Switzerland.

2. Which services does Revolut offer?

Revolut offers cards that can be used to pay for purchases from brick-and-mortar and online purchases. You can manage these cards using the Revolut app on your iPhone or Android device.

There are many different settings that you can manage using the app. All transactions are shown in the app in real-time.

3. Is money in Revolut accounts covered by Swiss bank depositor protection?

No. Revolut has licenses in the UK and Lithuania. Money that you deposit in your Revolut account is not covered by Swiss bank depositor protection.

If Revolut were to go bankrupt, you as a Swiss customer would have to engage in the bankruptcy process in the UK or in Lithuania.

4. Is Revolut a Swiss bank?

No, Revolut is not a Swiss bank. But it does have a business license from the Swiss financial supervisory authority Finma.

5. How can I deposit money into my Revolut account?

The simplest and cheapest way to deposit money into your Revolut account as a Swiss customer is to make a bank transfer into the Swiss bank account shown in the Revolut app. Since mid-2025, Revolut customers in Switzerland have personal IBANs which are offered in partnership with Postfinance. But it is important to understand that although you receive a personal IBAN, the Swiss account is actually a collective Revolut account. Incoming payments must include all of the necessary information and references in order for Revolut to be accepted. This makes it difficult to use Revolut to accept payments from third parties, such as employers.

Swiss banks normally do not charge you fees for transfers to other Swiss bank accounts.

You can also load your Revolut account using a debit card or credit card. However, you may be charged high fees for loading your account this way in some cases.

6. Which cards does Revolut offer?

Revolut offers cards from Maestro, Mastercard, and Visa. Which cards are available varies between customers and can also change over time.

7. Can I make transfers with Revolut?

It is possible to transfer money to both Swiss and foreign bank accounts using Revolut. But this is best avoided because you may be charged hidden fees for these transfers.

8. Which currency exchange rates does Revolut use?

For a long time, Revolut advertised the fact that it used interbank exchange rates. But the most recent moneyland.ch analyses show that Revolut's exchange rates are no longer among the most favorable. Many other neobanks and even some conventional banks now have better exchange rates than those used by Revolut.

9. Which currency exchange fees does Revolut charge?

Revolut has somewhat complicated currency exchange fees.

The currency exchange fees for the Standard account with no basic account fees are as follows:

When you transact less than 1250 francs per month, then these foreign transaction fees apply:

• For transactions in most major currencies on weekdays: No currency exchange fee.
• For transactions in most major currencies on weekends: One percent currency exchange fee.
• For transactions in other currencies on weekdays: One percent currency exchange fee.
• For transactions in other currencies on weekends: Two percent currency exchange fee.

When you transact more than 1250 francs per month, these foreign transaction fees apply:

• For transactions in most major currencies on weekdays: One currency exchange fee.
• For transactions in most major currencies on weekends: Two percent currency exchange fee.
• For transactions in other currencies on weekdays: Two percent currency exchange fee.
• For transactions in other currencies on weekends: Three percent currency exchange fee.

The currency exchange fees for conversions in excess of 1250 francs per month include a fair usage charge. Revolut is the only neobank active in Switzerland that adds this kind of charge from just 1250 francs worth of currency exchanges per month.

If you use a paid Premium, Metal, or Ultra account, then you will always be charged the lower fees.

Tip: You can cut the cost of currency exchange fees by only exchanging money on weekdays. You can keep the foreign currency in a sub-account. When you use your card to make payments in that foreign currency, the purchase will be charged to the foreign currency available in the sub-account. By doing this, you avoid the higher currency exchange fees that apply on weekends.

10. Can I use Revolut for cash withdrawals?

Yes. You can withdraw money from your Revolut account at ATMs. Revolut charges a cash withdrawal fee equal to two percent of the amount you withdraw, with a minimum fee of one franc per withdrawal. But Revolut Bank UAB waives cash withdrawal fees for Swiss customers, up to the following monthly limits:

• Standard accounts: 200 francs per month.
• Premium accounts: 400 francs per month.
• Metal accounts: 800 francs per month.
• Ultra accounts: 2000 francs per month.

11. Can I use Revolut for mobile payments?

Yes. Revolut cards can be linked to Apple Pay and Google Pay. Revolut does not support the Swiss Twint mobile payment service.

12. How much do Revolut cards cost?

Revolut charges a one-time fee for new physical cards (six francs for postage, for example).

Revolut also offers virtual cards at no extra charge.

13. What is a virtual Revolut card?

Revolut offers a virtual credit card which only exists in the app, but not as a physical card.

One advantage of the virtual card is that you can use it as soon as your account is approved, without having to wait for a physical card to arrive. The virtual card can be linked to Google Pay or Apple Pay to enable payments from brick-and-mortar merchants.

The virtual card includes all of the information needed to make online purchases, including the card number, expiry date, and the CVC2 or CVV2 code.

You can find detailed information in the moneyland.ch guide to using virtual cards.

14. Are there limits for Revolut transactions?

In general, the amounts you can transact with the Revolut card are only limited by your account balance.

Standard account users should pay attention to the 1250-franc monthly threshold for the lower currency exchange fees. There are also limits of 200, 400, 800, or 2000 francs (depending on the account type) for fee-free cash withdrawals.

15. Is it possible to set up standing orders in Revolut?

Yes, you can set up standing orders in Revolut. However, using Revolut for transfers – including standing orders – is generally not recommended, as you may be charged high fees in some cases.

16. Can I use eBills and direct debit orders in Revolut?

Revolut does not offer Swiss direct debit orders and eBills.

But Revolut users in Switzerland can use SEPA direct debit orders for charges in euros. This can be done using the account number of the euro sub-account.

17. Does Revolut also offer savings accounts or pillar 3a accounts?

No. Revolut does not give you any Swiss bank accounts, savings account, or pillar 3a accounts.

18. Does Revolut give me my own bank account number?

Revolut does not offer a personal Swiss bank account. But you do get a personal account number that you can use to receive payments into Revolut's collective Swiss account.

19. Can I overdraw a Revolut account?

No. Revolut accounts do not allow for overdrafts.

20. Can I invest in stocks using Revolut?

Revolut advertises fee-free stock trading. However, Revolut’s stock brokerage service is not yet available to customers in Switzerland.

21. Can I invest in gold and silver using Revolut?

Yes, customers in Switzerland can use Revolut to invest in gold and silver.

Revolut says that the precious metals you buy are held in your name by a financial services provider. However, Revolut does not give you the option of actually withdrawing your precious metal in physical form.

22. Can I buy cryptocurrencies using Revolut?

You can invest in cryptocurrencies using Revolut. However, you cannot buy actual cryptocurrency that can be withdrawn or transferred. You simply participate in the performance of cryptocurrency prices.

23. What are the advantages of Revolut?

The intuitive app with many different features is Revolut’s biggest advantage. Another advantage is that you can track transactions in real-time using the app.

24. What are the disadvantages of Revolut?

The biggest disadvantage of Revolut is its customer service. The poor quality of Revolut’s customer services is a source of frequent negative feedback from Swiss Revolut users.

Another disadvantage, compared to Swiss financial services providers, is that the money in your Revolut account is not guaranteed by the Swiss bank depositor protection scheme. Revolut does not give you a Swiss bank account, so it is poorly suited for receiving a Swiss salary into, or for paying bills in Switzerland.

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