Revolut review: Features, safety, and how it works in New Zealand

Revolut is a British fintech company that’s available to customers around the world, offering a range of financial services which are managed through their app. The company started 2015, and expanded into New Zealand during 2023.

In this guide, we’ll take a closer look at the products, features and fees Revolut offers New Zealanders. We’ll also compare it to Wise, so you can have a bit of context when deciding whether or not Revolut is the best option for your needs.

What is Revolut?

Revolut offers a digital platform where users can manage a wide range of financial activities, from everyday spending and saving, to investing, borrowing, and handling multiple currencies.¹ Everything is run through the Revolut app, which gives you full control of your account directly from your phone.

One of the core features of Revolut is the multi-currency account, and offers Kiwi customers a choice between 4 different account types for personal use. There are also options for business customers. All Revolut accounts hold 30+ currencies, and come with linked physical and virtual cards for local and international spending and cash withdrawals. The exact account features you can get will depend on the plan you pick, more on that later.

Is Revolut safe?

In New Zealand, Revolut is registered as an ASIC-Overseas company (NZBN 9429048733212), and a Financial Service Provider (FSP766191).¹ As a result, they have to adhere to the government regulations that allow them to hold this type of registration.

When it comes to app security, Revolut has several measures in place to protect your money and personal information.²

• New customers go through identity verification
• Biometric login options are available
• Users can customise their own security settings
• Cards can be frozen or the PIN changed instantly from the app
• Regular security and software updates
• Suspicious logins are flagged with remote access detection
• A dedicated 24/7 financial crime team monitors activity
• 100% of your main account balance is safeguarded \

All of this tends to make Revolut a secure option for New Zealand customers looking for a digital financial experience.

How does Revolut work in New Zealand?

With a Revolut account you’ll be able to manage your money across different currencies from one place. You can open an individual or joint account, and use it to send, receive, and hold funds. It also offers features to help you save and invest, all from within the app.³

Key features

At the moment Revolut has four plans available to New Zealand consumers:³

• Standard - No monthly fee
• Plus - $5.99 per month fee
• Premium - $11.99 per month fee
• Metal - $22.99 per month fee

With all of the Revolut account plans you have access to these features:⁶

• Exchange and hold 30+ currencies
• Send money to multiple countries around the world
• Send and receive money with other Revolut users in minutes
• Invest in commodities
• Access to virtual and physical Revolut cards

Account holders on the more expensive plans can also access additional perks like travel insurance, priority customer support and discounted airport lounge access.³

Fees and costs

Moving on to the costs related to having a Revolut account, here’s some of the main fees to consider. You’ll notice that they vary depending on which Revolut plan you choose.³

Another key fee structure to keep in mind is the fees for the physical Revolut cards. Charges can apply depending on your chosen plan, the type of card (metal, plastic, custom), and whether it's a new or replacement card.⁴ On the other hand, Virtual Revolut Cards, like those from Wise, are free to create or replace.

Revolut’s exchange rate

Revolut uses its own variable exchange rate, which you can check directly in their app.³ While this rate can be competitive during weekdays, it's crucial to understand how it compares to the mid-market exchange rate – the true rate you see on Google, without any hidden markups.

A significant difference impacting your costs is the weekend. Out-of-hours fees of up to 1% apply on weekends depending on your plan and Revolut defines these weekend hours as Friday 5 AM to Sunday 6 PM, New York time.⁵ Keep in mind that this time could vary throughout the year when changed to New Zealand timezones due to daylight savings, potentially leading to unexpected charges.

For a consistently transparent approach that avoids these additional charges, Wise, another popular multi-currency account provider, operates differently. Wise applies the mid-market rate for all currency exchanges regardless of the day or time. Its low, transparent fees are always shown upfront, ensuring you know exactly what you're paying.

You’ll need to compare the overall currency exchange costs based on how you expect to use your account. Higher exchange fees mean your international spending costs you more, so choosing the account plan or provider which is cheapest for the types of transactions you’ll make often will help you lower your costs.

Is Revolut good?

For those in search of a financial platform equipped with tools for managing money across borders, Revolut stands out as a solid choice for New Zealanders. On Trustpilot, it boasts a 4.5 star rating, with many praising the user-friendly app and convenience. That said, some customers have voiced frustrations over fees and the responsiveness of customer support.⁵

Before committing to a new provider, it’s smart to evaluate the strengths and weaknesses. Here are a few of the key upsides and potential downsides of opting for Revolut in New Zealand.

Summary

Revolut provides a versatile money app for New Zealanders aiming to handle their daily expenses, convert currencies and invest money, directly from their phone. With various plans, including the free Standard option, users can choose the one that suits their needs. So, if you’re comfortable navigating the varied fee structures and would like some extra perks like travel insurance or crypto trading, Revolut may be a good choice.

Alternatively, if you prefer a straightforward option for global spending with no monthly charges, no weekend exchange surcharges, and online as well as in-app access, Wise could be the way to go.

Hold and manage 40+ currencies with the Wise account

The Wise account is an easy way to save up to 7x when you send, spend, and withdraw money internationally. Hold and manage 40+ currencies, including NZD, USD, EUR, and more. All you need to do is sign up for a free account to get started, there's no monthly fees either.

You can exchange currencies at the mid-market rate on every conversion — basically the rate you see on Google. And with zero foreign transaction fees, and low, transparent pricing, Wise usually gives you the best value for your money.

You'll get 8+ local account details in NZD and a selection of other global currencies to get paid conveniently to your Wise account. And when it's time to send money abroad, enjoy fast, low-cost transfers to 140+ countries. Plus, you can get a linked Wise debit card for spending internationally at the same great mid-market rate.

When it comes to managing money globally, the Wise account is a handy tool that makes it easier and simpler.

🚀 Open your Wise account

Date: 22 July 2025