How to Open a Revolut Business Account After Registering Your Company with eFinance

A Step-by-Step Guide to Setting Up Your Revolut Business Account

Step 1: Registering Your Company with eFinance

Before opening a Revolut Business account, you must first complete your company registration through eFinance. This service streamlines the registration process, ensuring it is efficient and straightforward. Once your company is registered, you can proceed to open a business account with Revolut.

Step 2: Start Your Application

To begin, visit the Revolut Business website.

Click on the "Sign Up" or "Get Started" button to initiate your application. The process begins with providing personal details like your full name, address, and date of birth.

Step 3: Enter Business Information

Next, you will need to provide information about your business.

This includes:

• Business name

• Registered address

• Business type (e.g., sole trader, limited company)

• Industry sector

• Company registration number (if applicable)

If your business details can't be verified automatically, you may need to upload your incorporation certificate or a registry extract.

Step 4: Verify Your Identity

To complete the identity verification process, upload the following documents:

• A valid ID (passport, national ID card, or driver’s license)

• Proof of address (utility bill, bank statement, or government-issued document)

• A selfie for identity verification

• A brief description of your company's activities and location

If you are not a director or shareholder, you will also need to provide proof of authorization to open the account.

Step 5: Application Review

Once you've submitted your application, it will be reviewed by Revolut. This process can take a few hours but may take longer if additional information is needed. Once approved, you'll receive a notification and can start using your account.

Step 6: Setting Up Your Account

Adding Money to Your Account

Transfer funds from any bank account to get started. Find your account details under Home > More (...) > Account details in the Revolut app.

Adding a Team Member

Step 1: Log into Your Revolut Account

Access your dashboard.

Step 2: Go to the Team Section

Navigate to manage your team or users.

Step 3: Invite Your Accountant

Enter their email to send an invitation.

Step 4: Assign Roles

Set roles and permissions based on their responsibilities.

Options include:

• Owner: Full access to the account (only one per account).

• Admin: Full access to features and apps.

• Accountant: Can perform financial operations.

• Viewer: Read-only access.

• Member: Restricted to their own cards and info.

• Custom Roles: Create roles with custom permissions under Team tab → Settings → Roles → New.

Managing Team Members’ Permissions

To modify a team member's role or permissions:

1. Ensure you have the ‘Manage team members’ permission.

2. Go to the Team tab.

3. Select the team member you want to edit.

4. Select Role in the side menu.

5. Assign a different role or adjust the current role’s permissions for custom roles.

Revolut Fees

Revolut offers competitive pricing for its services. Here are some key fees for Estonian companies:

• Account Registration: Free.

• Sending Money: Fees start from 0.4%, varying by currency.

• ATM Withdrawals: Free for up to €200 per month, then 2% per withdrawal.

• Revolut Debit Card: Free issuance, no subscription fees.

• Currency Conversion: Fees start from 0.4%, depending on the currency.

• Holding Money: Free for holding 30+ currencies.

• Receiving Payments: Free for non-SWIFT payments in supported currencies; fees apply for SWIFT and specific currencies.
  

Always review Revolut’s latest fee schedule to stay informed about any changes.

Getting the Most Out of Revolut Business

Once your account is set up, explore various features Revolut offers to optimize your business operations:

• Expenses and Analytics: Manage expenses and analyze spending patterns.

• Currency Exchange: Hold, exchange, and transfer money globally.

• Integration: Link your account with tools and apps you already use.

Success Stories

Revolut Business has helped numerous businesses achieve remarkable growth:

• Wild: A UK-based hygiene brand that grew over 400% in revenue with Revolut Business.

• ThePower Business School: Expanded into over 50 markets, increasing revenue nearly tenfold.

• Sunway: An Irish travel agency that streamlined financial operations, saving time and reducing errors.

Conclusion

Opening a Revolut Business account after registering your company with eFinance is a seamless process. Revolut offers a user-friendly interface, low fees, and the ability to easily manage team member permissions, making it an excellent choice for businesses looking to handle their finances efficiently. Join the ranks of successful businesses with Revolut Business. Visit the Revolut Business website to open your account today. If you have any questions, their sales team is ready to assist you.

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