How to get started with Revolut Business
In the modern business landscape, traditional banking often falls short of meeting the dynamic needs of businesses. The digital marketplace is your arena, and your clients span across the globe. You’re constantly striving for efficiency, and that’s why you’ve chosen Revolut Business. Unlike traditional business accounts, Revolut Business is designed with a customer-centric approach, addressing the challenges posed by conventional banks. Revolut Business Account
Here’s a simple guide to help you navigate your initial steps with Revolut Business.
Setting Up Your Revolut Business Account
To get started with Revolut Business, you’ll need to complete a brief online application form. This involves providing standard personal details such as your full name, address, and date of birth. You’ll also need to provide information about your business. For corporate accounts, Revolut requires basic incorporation details, including your company’s registered name, incorporation number, and trading name. If Revolut can’t locate your company using these details, Revolut may request the most recent incorporation certificate or registry extract.
Transitioning to Revolut Business Account
Switching to Revolut Business is a breeze. It’s as simple as opening a Revolut Business account and transferring money into it. If you’re already a Revolut customer, you can skip a step when opening a Revolut Business account. You can also use the ‘instant transfer’ feature from your personal card to top up your business account for free.
Verifying Your Identity
Whether you’re opening a corporate or a freelancer account, Revolut requires the same verification information. This includes your name, address, a photo of your ID, and a selfie. If you’re not a director or shareholder of the applying business, we’ll also need proof of authorization to open an account, confirming your right to set up an account in the business‘s name.
Managing Multiple Revolut Business Accounts
Revolut understands that businesses may need more than one account. That’s why the company offers multi-business accounts. This feature allows you to manage multiple Revolut Business accounts in one place, accessible with just a few clicks or taps in one app.
Approval Timeframe
Before starting your application, it’s a good idea to check if your business is eligible for a Revolut Business account. If it is, approval for your business account can take just a few hours. However, it could take longer if Revolut needs to request any additional documents.
Post-Setup Steps Revolut Business Account
Once your account is set up, there are a few things you’ll want to do:
- Invite your team to join and ensure they have spending power with virtual and physical debit cards.
- Set in-app permissions so your team only accesses the parts of the app they need and only spends in specific amounts and categories.
- Create any currency sub-accounts you need (you can make as many as you like in 25+ currencies).
After that, feel free to explore Expenses, spending Analytics, FX, how to manage your spending, link tools and apps you already use to your Revolut Business account, and much more.
