Revolut card in Singapore2024

Financial super app, Revolut, serves over 30 million personal and business customers globally. Here, Revolut Singapore offers digital accounts packed with powerful international features - which all come with a Revolut card - but how does it work, and what are the Revolut card benefits that make it worthwhile?

This Revolut card review walks through all there is to know - including how to get one, how to use it and how much it will cost. We’ll also touch on a few alternatives to Revolut - like the Wise card - so you can see which works best for you.

Table of contents:

• What is the Revolut card?
• Revolut card alternatives
• Revolut Virtual Cards
• Revolut card fees & limits
• How to get a Revolut card
• How to activate your Revolut card
• How long does it take for a Revolut card to arrive?
• How to use a Revolut card?
• How to withdraw money from Revolut card
• How to use Revolut overseas?

What is the Revolut card?

Revolut has been on the scene since launching in the UK in 2015, and has rapidly expanded to new markets, offering a selection of account and card services, as well as international payments, for personal and business customers. Accounts are managed primarily through the Revolut app - and all accounts come with a Revolut debit card, although the specific card you get does depend on the account tier you choose.

Revolut cards are available with the Revolut Standard, Premium and Metal plans. There’s no monthly fee for Standard accounts - for the other account tiers you’ll pay ongoing fees, but you’ll unlock more benefits. Metal account holders, for example, get a unique metal card, with personalised card options to choose from, and cash back on spending. We’ll walk through all the Revolut Singapore card features and fees right here throughout this guide.

Key features: Revolut card

• Choose from a Standard, Premium or Metal card depending on your spending needs

• No fees to spend any currency you hold in your Revolut account

• Some overseas ATM withdrawals are available without fees, to specific plan limits

• All account plans have some currency exchange which uses the mid-market exchange rate

• Virtual cards available

• Metal plans offer cash back on card spending

• You can not make local Singapore ATM withdrawals, and there are limits on the value of transactions you can make in a 365 day cycle, as a result of MAS regulations

Who is the Revolut debit card for?

Each Revolut debit card comes with its own features according to the underlying Revolut account plan it’s attached to. That means that there’s a Revolut plan and card to meet different customer needs. Revolut debit cards can be good for:

• Travellers looking to hold and spend foreign currencies

• People shopping online at home and abroad

• Anyone who primarily manages their money with their phone

• Customers who prefer a virtual card for security

• Business owners and freelancers looking for low cost multi-currency spending options

Is Revolut card safe?

You can rest assured that Revolut is legit and safe to use. In Singapore, Revolut is MAS regulated as a Major Payment Institution. Some Revolut services, such as travel insurance, have different regulatory arrangements - but all are overseen by the relevant bodies based on the product or service in hand.

Revolut card alternatives

Before we dive into the details about the Revolut Singapore card options, let’s take a look at how Revolut measures up against a couple of other non-bank alternative providers.

Revolut isn’t the only provider offering a great international debit card in Singapore. Other options can suit different customer needs, so comparing a few makes good sense:

Wise Card: Can be a good option for customers looking for a flexible multi-currency account with no ongoing fees and mid-market rate currency conversion. You can receive 9 foreign currencies to your account, send payments to 160+ countries, and spend with your card in 150+ countries

BigPay Card: This popular local travel wallet lets you add money in SGD and spend with a 1% foreign transaction fee, more or less anywhere in the world. International transfers are available to select countries and regions, and there are also handy budgeting tools built into the app

How does the Revolut card work?

Revolut cards are on either the Visa or Mastercard networks, which are both globally accepted for payments and withdrawals. The card you get depends on the account tier you choose - there’s a basic Standard card, while Premium account holders can order a personalised card and Metal plan holders can get a metal card. You can use your card more or less as you would any other payment card:

• Spend online or in person using your physical contactless card

• Make international ATM withdrawals.

• Use your virtual card for secure online and in app shopping

• Tap and pay with mobile wallets like Apple Pay and Google Pay

To start spending you must first top up your Revolut account, and you can then spend and withdraw up to the account balance. It’s helpful to note that Revolut cards can’t be used to make ATM withdrawals in Singapore, due to MAS regulations.

Is the Revolut card a credit card or debit card?

The Revolut card is a debit card, linked to your digital Revolut account.

Revolut Virtual Cards

Revolut accounts offer virtual cards as well as physical card options. Virtual cards can’t be used for ATM withdrawals or other transactions where the card must be present - but they can be used conveniently and securely for online and mobile spending. Virtual cards won’t have the same numbers as your normal card, adding a layer of security - plus you can always lock or dispose of the details after use if you’d like to.

To get your Revolut virtual card just log into the app and go to the 'Cards' tab. Tap 'Add card' and 'Virtual debit card’, to generate your card and see the details.

Revolut card fees & limits

First, let’s take a look at the key fees associated with getting and using a Revolut card in Singapore. Bear in mind that some other fees may also apply depending on how you transact, so it is important to check your specific plan terms and conditions carefully before you start to use your account.

*Correct at time of research - 18th April 2024

Revolut exchange rates

All Revolut account tiers have some no-fee currency conversion, which uses the mid-market or wholesale rate. However, there may be limits to the amount you can convert before a fair usage fee begins.

Standard plan holders can convert 5,000 SGD/month with no-fee, but pay a 1% fair usage charge after that.

Premium account holders get 15,000 SGD/month no-fee conversion, and pay a 0.5% fair usage fee after that.

Metal plan holders can get unlimited no fee conversion, subject to MAS limits which only allow you to transact to the value of 30,000 SGD or the currency equivalent over a 365 day period.

Revolut card limits

Here are the key limits you need to know about when using a Revolut card. Note the MAS limits in particular - although there are a few transaction types that do not qualify towards this limit, it’s worth checking the details if you’re likely to want to use your card often or for higher value payments.

*Details correct at the time of research -18th April 2024

How to get a Revolut card

Before you can get your Revolut card you’ll need to create and verify your Revolut account, which can be done with your phone. You’ll need to get verified so have your passport, NRIC or Singpass login information to hand.

Once you have an active account, here’s how to get a Revolut card:

1. Open the Revolut app and go to the 'Cards' tab.

2. Tap 'Add new' and then 'Physical card'

3. Enter the card type you want

4. Create your PIN code

5. Provide your address and submit the order

How to activate your Revolut card

There’s no specific activation process, but to use your card for contactless transactions you’ll first need to make a physical card payment or withdrawal by inserting your card into a payment terminal or ATM and entering your PIN.

How long does it take for a Revolut card to arrive?

You’ll see an estimated delivery date when you order your card. If your card doesn’t arrive by this date, you’ll need to reorder a new card.

How to use a Revolut card?

You can use your Revolut card freely when you’re overseas. Bear in mind that although you can use your card to tap and pay here in Singapore, you can not make local ATM withdrawals. Use your card to make chip and PIN or contactless payments, ATM withdrawals and mobile payments by adding it to a wallet like Apple Pay or Google Pay.

How to top-up your Revolut card

Here’s how to add a balance to your Revolut account to start spending:

1. Log into the Revolut app and tap 'Add money'

2. Choose how to add money - from your bank, with a card or with Apple Pay for example

3. Enter the amount and currency you'd like to top up

4. Tap 'Add money securely' and follow the prompts to complete the transaction

How to withdraw money from Revolut card

You can’t withdraw money in Singapore, but you can use your card as normal overseas. To make a Revolut cash withdrawal just find an ATM that supports your card network, insert the card and enter your PIN, and enter the amount you want to withdraw. Your cash is dispensed and you can take your money and card.

How to use Revolut overseas?

Use Revolut overseas freely to spend and make cash withdrawals. You can use your card anywhere you see the network logo displayed.

Supported currencies

Revolut accounts support 30+ currencies for holding and exchange including SGD, and major currencies like USD, CAD, GBP, EUR, AUD and NZD.

Revolut card for business

Revolut is not available as yet for business users in Singapore - however, at the time of writing you can join the Revolut Business waitlist to be notified as soon as the service arrives. As an alternative consider:

Wise Business: Open an account for a one time fee, to hold and exchange 40+ currencies and receive payments in 9 currencies conveniently. You’ll get the mid-market exchange rate and can order debit and expense cards for team spending too

OFX Global Currency Account: The OFX Global Currency Account is ideal for online sellers and anyone getting paid through e commerce sites, marketplaces, platforms and PSPs. You’ll be able to receive payments in 7 currencies and access currency risk management support for your business

Conclusion: is the Revolut card worth it?

The Revolut card is linked to a smart multi-currency account, to hold 30 currencies and spend in 150 currencies. All accounts allow some no fee overseas ATM withdrawals and currency exchange which uses the mid-market exchange rate, based on the account tier you select. To unlock the full suite of features you need to pay a monthly fee, but there are also Standard plans with no ongoing costs and lower no fee transaction limits.

Compare the Revolut card against cards from alternative providers, like the Wise card or the BigPay card. Wise is a flexible option which lets you send, spend, hold and exchange dozens of currencies, with 40+ currencies for holding, and your own bank details to get paid in 9 currencies. BigPay is a popular local ewallet and card which can be used globally with a 1% foreign transaction fee, and options to send money to select overseas markets.

Use this guide to see which works best for you, to cut the costs of spending at home and abroad.