How to Withdraw Money from Revolut: Step-by-Step Guide

127 how to withdraw money from revolut step by step guide

Revolut is a popular digital banking app that offers a convenient way to manage your finances, including withdrawing money when you need it. Whether you prefer to use an ATM or transfer funds to your bank account, Revolut makes it easy to access your money. In this guide, we’ll walk you through the steps to withdraw money from your Revolut account and discuss the different account types, withdrawal limits, and fees.

How to Withdraw Money from Revolut

Revolut provides several methods for withdrawing your money, depending on your preferences and needs. You can either use your Revolut card to withdraw cash from an ATM or transfer funds directly to your linked bank account. Let’s take a closer look at each method.

Withdrawing Cash from an ATM with Revolut Card

One of the most convenient ways to withdraw money from your Revolut account is by using your Revolut card at an ATM. To do this, make sure you have sufficient funds in your account and that your card is activated. You can manage your card settings and check its status through the Revolut mobile app.

To withdraw cash using your Revolut card, follow these steps:

  1. Locate an ATM that accepts Visa or Mastercard, depending on your Revolut card type.
  2. Insert your Revolut card into the ATM and enter your PIN.
  3. Select the “Withdraw” option and choose the amount you wish to withdraw.
  4. Confirm the transaction and take your cash and receipt.

Revolut partners with Allpoint, providing access to over 55,000 ATMs worldwide for fee-free withdrawals. You can easily locate these in-network ATMs using the Revolut app.

Withdrawing Money to a Bank Account

Another option for withdrawing money from your Revolut account is by transferring funds to your linked bank account. This method is useful if you need to transfer a larger sum or prefer to have the money in your primary bank account.

To withdraw money to your bank account:

  1. Open the Revolut app and tap on the “Payments” tab.
  2. Select “Transfer” and choose your linked bank account as the recipient.
  3. Enter the amount you want to transfer and confirm the transaction.
  4. The funds will be sent to your bank account, typically arriving within 1-3 business days.

Keep in mind that Revolut supports a wide range of banks, but it’s always a good idea to check if your specific bank is compatible before initiating a transfer.

Revolut Account Types and Withdrawal Limits

Revolut offers several account types, each with its own set of features and withdrawal limits. It’s essential to understand these limits to ensure smooth transactions and avoid any unexpected fees.

Standard Account

The Standard account is the most basic Revolut account, with no monthly fee. It allows free ATM withdrawals up to €200 per month, after which a 2% fee applies. For transfers to bank accounts, Standard users can send up to €1,000 per month without fees.

Plus Account

Revolut’s Plus account comes with a monthly fee of €2.99 and offers higher limits compared to the Standard account. Plus users can withdraw up to €400 per month from ATMs without fees and transfer up to €2,000 per month to bank accounts for free.

Premium Account

The Premium account, priced at €7.99 per month, provides even higher limits and additional benefits. Premium users enjoy free ATM withdrawals up to €800 per month and free bank transfers up to €5,000 per month.

Metal Account

As the most elite Revolut account, the Metal plan costs €13.99 per month and offers the highest limits and exclusive perks. Metal users can withdraw up to €1,200 per month from ATMs and transfer up to €10,000 per month to bank accounts without fees.

Revolut Withdrawal Fees

While Revolut offers many free withdrawal options, there are some cases where fees may apply. For ATM withdrawals, if you exceed your account’s monthly free withdrawal limit, a 2% fee will be charged on the excess amount.

When it comes to transferring money to a bank account, Revolut typically doesn’t charge any fees for transfers within your account’s monthly free limit. However, for transfers exceeding the limit, a small fee may be applied.

It’s always a good idea to check the most up-to-date information on Revolut’s withdrawal fees within the app or on their website, as fees may vary depending on your location and account type.

How to Close a Revolut Account and Withdraw Remaining Funds

If you decide to close your Revolut account, you’ll need to withdraw any remaining funds before proceeding with the closure. To do this, follow the steps for withdrawing money to your linked bank account, as described earlier.

Once your Revolut account balance is zero, you can close your account by following these steps:

  1. Open the Revolut app and go to the “Profile” section.
  2. Tap on “Close account” at the bottom of the screen.
  3. Follow the prompts to confirm your decision and provide a reason for closing the account.
  4. Your account will be closed, and you’ll receive a confirmation email.

Keep in mind that closing your Revolut account is a permanent action, and you’ll need to create a new account if you wish to use Revolut’s services again in the future.

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