Revolut Business

By Jason Hulott | Articles

Revolut Business is an account offering a wealth of powerful features. It scales with your business, allowing you to spend more time on development and growth.

Whether you are a freelancer just starting out, or you run a limited company, you can benefit from the convenience of having essential business needs handled in one account.

Payments

Keeping your payments organised and making sure you know where your money is going is essential for a growing business.

Your Payments screen shows all your regular scheduled payments with details clearly visible. Payments needing approval are grouped for ease of use and you can assign Roles to your team that let you delegate this approval where appropriate.

Bulk payments let you pay off multiple invoices at a stroke, or run payroll cycles. You can set these up manually, adding to each batch or do it en mass by importing a CSV file of up to 1k payments.

You can make and receive payments in up to 28 currencies; local account details for GBP, EUR, PLN, NOK mean you save costs on exchanges and international transfers.

Teams

Set up multiple Roles for your team members to control who can access what part of your finances and allow multiple people to run your account, if need be.

Each Role comes with a list of permissions, so you can keep a tight rein on access control. Give the right people the access they need to do their job while you maintain approval rights.

Set Rules for each type of payment to ensure the proper oversight; for example payments over a set threshold might need approval from two team members with the “Supervisor” Role. Multiple team members can share the same Roles, giving you delegation with accountability.

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Issue corporate payment cards to the staff who need them, while maintaining control and visibility as to where your money is going.

API Integration

Revolut Business integrates with apps you already know and use to give a seamless transfer of data.

Xero, Quickbooks and FreeAgent integration mean you don’t need to manually enter your data on multiple platforms. Upload receipts and integrate invoices automatically, minimising input errors and duplicated work.

Connect your Revolut Business account to Slack and receive notifications in real-time about your account activity and you can respond to issues as they arise.

Zapier is the hub for workplace automation and integration. Linking your account gives you access to their marketplace comprising thousands of apps to automate your workflow, saving you time on repetitive tasks and dealing with multiple apps.

Perks

Your business account comes with a selection of perks that are actually useful to your business. Save money on software, get discounts with retailers such as Amazon and Apple, save on services and software and even on coffee for the office. Nothing is there for the sake of it.

Security

Revolut Business takes security very seriously.

Funds are held with Barclays/Lloyds, their partner bank, and are never used to finance loans to anyone else. They are FCA authorised, and all card transactions are processed and protected by Visa or Mastercard.

Your account access is protected by strong 2-factor authentication, using SMS or email while machine learning algorithms typically catch and prevent over 90% of attempted fraud. That’s 6-8 times the industry average.

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Flexible controls for your corporate cards means you can change permissions as needed, whether that be geo-locking their use, limiting or removing withdrawal rights or freezing the cards altogether. You are actively in control.

If you do have any problems or concerns, Revolut offers 24/7 contact, so you’re not waiting until the banks open to sort things out.

A wide range of features, high security and a tiered pricing structure that supports your business as it grows makes Revolut Business worth considering for any freelancer or company.

Information quoted correct at the time of writing, February 2020.

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About the Author

Jason Hulott is Business Development Director at Digital Marketing Specialists, Speedie Consultants. He is Google Partner certified. His role is to identify and implement traffic generating and revenue increasing ideas for our client base.