A well-known ‘neobank’, Revolut is a FinTech company that offers a wide range of services to both individuals and business clients. Despite being highly regarded across the industry, Revolut isn’t necessarily the right choice for every business. In fact, there are many reasons why you may want to consider an alternative digital financial services provider.

But, what’s an alternative to Revolut? Here, we take a closer look at how PayAlly compares to Revolut and delve deeper into why clients are choosing to manage their finances with PayAlly’s fully integrated financial services offering.

PayAlly vs Revolut

To help you identify the account and company that can best meet your needs, we’ve compared PayAlly and Revolut across a number of areas…

Account Options

Revolut offers a number of different accounts. In fact, individual accountholders can choose from five different accounts ranging from £0 to £45 per month and business accountholders can select one of four accounts at monthly price points of £0, £25, £100 and custom pricing for enterprises. In addition to this, freelancers get the choice of three accounts that range from monthly fees of £0 up to £25.

While this does allow you to select an account based on your usage needs, the sheer number of account options can be overwhelming, particularly for new clients.

In contrast, PayAlly’s tailored approach means we work with you to identify the services and features you need before creating a bespoke solution just for you. Prioritising simplicity and transparency, we make sure that your digital financial platform always delivers the functionality you need.

Multicurrency Account

Multicurrency accounts are at the heart of both Revolut and PayAlly. Traditionally, cross-border transfers have been costly and complex, but a multicurrency account allows you to send and receive funds in different currencies while cutting out the bureaucracy and lowering the cost.

However, it’s essential that your multicurrency account allows you to trade in your preferred currencies and this is one reason you might be asking, what’s an alternative to Revolut?

To date, Revolut allows users to send, receive and exchange funds in 25+ currencies, while PayAlly facilitates transfers and exchanges in 39+ currencies. Giving you access to a wider range of currencies enhances the functionality of your account and ensures that you can trade more freely.

Fees and Charges

One of the advantages of using a digital international financial service provider is the reduced costs associated with transactions, particularly international transfers. However, every provider charges different fees. If you’re not happy with Revolut’s pricing, for example, you might be looking for an alternative.

Revolut’s fee structure depends on the type of account and plan you choose. You’ll pay £3 per international payment as a business customer but you’ll get 10 or 20 free transfers if you have a Grow or Scale account, for example. Similarly, free business accountholders will pay a 0.4% markup for currency exchanges but Grow and Scale accountholders benefit from up to £10,000 or £50,000 in exchanges before this fee is applied.

However, the cost of accepting online payments via a Revolut business account remains the same whatever subscription you have. Currently, transactions with UK consumer cards are charged at 1% + 0.20 GBP, while international and commercial charges attract a rate of 2.8% + 0.20 GBP.

As the fee structure of an account is so important, PayAlly is committed to providing bespoke and cost-effective financial services to every client. Our tailored approach ensures you can access the services you need while making the most of the cost of your financial management. To learn more about our fee structure, get in touch with our team now.

Customer Service

Although Revolut offers 24/7 customer support, we’re confident that our dedicated Relationship Managers are hard to beat! Every one of our clients has a Relationship Manager allocated to their account (regardless of company size and transaction volume), so you’ll have a single point of access when you have queries or require assistance.

With extensive industry knowledge, our team is exceptional in providing in-depth support when it’s needed most. Of course, we’re always on hand to answer your questions but your Relationship Manager will be available to assist you with creating a custom financial services ecosystem that meets your needs and helps shapes your future.

What’s an Alternative to Revolut and Why Do You Need One?

Although Revolut offers an impressive range of services, this doesn’t necessarily mean it’s the right solution for your business. By expanding your search and considering alternative financial service platform providers, like PayAlly, you can find services that are tailored to meet your needs.

Without rigid subscription plans, for example, alternatives to Revolut are free to offer bespoke solutions that reflect your current operations and your future needs. Working with you as a partner, we take the time to understand your personal and/or company objectives and build a financial ecosystem around you.

This personalised approach, alongside our extensive range of services, low fees and status as an EMI, is why we’re considered a great alternative to Revolut and other digital platforms.

Choosing a Digital Financial Service Provider

Finding the right service provider can transform your financial management, save you money and streamline your accounting, but what factors should you take into account when choosing who to sign up with?

Here, we provide a brief overview of what matters most when you’re choosing a financial solutions provider:

  • Security and compliance
  • Range of services
  • Account functionality
  • Fees and charges
  • Account access
  • Customer support

As you can see, there are many elements to consider when you’re selecting an account provider but comparing the options and identifying the differences between each provider will give you the in-depth information you need to make the right choice.

Localised International Financial Management with PayAlly

If you’re looking for an alternative to Revolut or you simply want to find out how PayAlly is localising international financial management, our team is happy to hear from you. Whether you’re ready to open a an account or you want to learn more about our flexible financial ecosystem, we’re always on hand to provide the help and assistance you need.