Revolut in ukraine what is it and how to use it

In this article, we will explore what features are available to Ukrainians, how to register, top up your account, transfer money, and even buy cryptocurrency via Revolut. We will also review fees and commissions and, most importantly, how safe it is to store money in Revolut and what limitations the service has in Ukraine.

What is Revolut?

• Multi-currency accounts – store money in different currencies (over 30 currencies, including USD, EUR, GBP).
• Currency exchange at interbank rates – more advantageous than in ordinary banks.
• Free international transfers – fast transfers without hidden fees within the Revolut network.
• Physical and virtual cards – available for making purchases online or in stores.
• Cryptocurrencies – buying, selling, and converting Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
• Stock and metal trading – ability to invest directly in the app.
• Cashback and discounts – exclusive offers and bonuses for users.
• Flexible budgeting tools – expense tracking, automatic savings, convenient reports.
• Premium subscriptions – enhanced features in the Plus, Premium, and Metal plans.

What features of Revolut are available for Ukrainians?

• Opening a multi-currency account (USD, EUR, GBP, and others)
• Virtual and Plastic Revolut Cards.
• Account top-up from Ukrainian bank cards.
• Currency exchange at a favorable rate.
• International transfers (SWIFT, SEPA, within Revolut).
• Integration with Apple Pay/Google Pay.
• Cryptocurrency purchases (but without the ability to withdraw to other wallets).

• ❌ Credit products (loans, installments).
• ❌ Opening a UAH account (currently, only a currency account is available).
• ❌ Withdrawal of cryptocurrency to external wallets.

Revolut Fees and Commissions in Ukraine

Revolut offers several tariff plans — from the free Standard to the premium Metal. Depending on the tariff, users receive different conditions: cash withdrawal limits, transfer fees, bonuses, and exclusive features. Let’s find out which tariffs are available in Ukraine and how they differ.

How to Register in Revolut in Ukraine – Personal Experience

After reading the first news about the Revolut service, I immediately decided to take advantage of this opportunity. The registration process in Revolut is intuitive and absolutely not complicated. However, it took me a few days; I’ll explain why below.

What is needed for registration?

• Ukrainian phone number.
• E-mail
• Passport or ID-card.
• Identification number (INN).

What did I do?

1. Downloaded the Revolut app from the App Store (it is also available on Google Play).
2. Entered my phone number and email.



3. On the third step, I had to complete verification—upload a passport photo and take a selfie, but I completed this step via Diia.
4. After successful verification, I received a message stating that I had completed the first step in creating an account, and I would be notified via email when it becomes active.
5. A few days later, presumably after my data passed all possible verifications, my account became active!

Overall, the registration itself took a few minutes and did not require any active actions from me, such as photographing documents, selfies, or anything else.

How to Use Revolut in Ukraine?

After successful registration and account activation, let’s try to understand how exactly to use the app, what features are available, and what to pay attention to.

Currency Exchange and International Transfers

One of the main reasons why millions of people choose Revolut — it’s a favorable exchange rate and convenient international transfers.

Currency Exchange

• Revolut allows you to exchange more than 30 currencies (dollars, euros, pounds, zloty, etc.) at an interbank rate, which is usually better than the rates of Ukrainian banks.
• The free Standard plan has a limit: up to $1000 of exchange per month without a fee, after which a 0.5% fee is charged.
• In premium plans (Plus, Premium, Metal), exchanges are fee-free even for larger amounts.

International Transfers

• Transfers within Revolut are instant and commission-free. If your friend or colleague has Revolut, you can send money literally within seconds, which is amazing for EU countries!
• Transfers to bank accounts (SWIFT, SEPA). Revolut allows you to send money abroad, and the fee depends on the currency and type of transfer.
• The ability to send money in different currencies, and the recipient can immediately convert them at the best rate.

How to Buy Cryptocurrency with Revolut?

Revolut can also be used to buy and sell cryptocurrency, making it a convenient tool for those who want to invest in digital assets without complicated exchanges.

Which cryptocurrencies are available?

How to buy cryptocurrency?

1. Open the app and go to the “Cryptocurrency” section.
2. Select the required coin (e.g., Bitcoin).
3. Specify the purchase amount and confirm the transaction.

Fees and Limitations

Revolut Cards: Virtual and Physical

After registering with Revolut, users can apply for a virtual or plastic card for convenient transactions.

What cards are available?

• 💳 Virtual card – instantly created in the app, suitable for online shopping, subscriptions, and secure payments on the internet.
• 💳 Physical card – you can order a plastic card that works in any POS terminals and ATMs worldwide.

How to apply for a card?

1. In the app, select “Cards” and click “Add new card”.
2. Choose the type of card (virtual or physical).
3. Confirm the card issuance, after which the virtual card will be immediately available, and the physical card will be delivered by post.

Revolut Card Top-up in Ukraine

• 🔹 Top-up is possible with Ukrainian bank cards (Visa/Mastercard).
• 🔹 You can receive transfers to a foreign currency account from other Revolut users or via SWIFT.
• 🔹 Hryvnia cards are not supported yet, but dollars and euros can be transferred.

Risks and Disadvantages of Revolut

convenience and innovative features, Revolut is not a perfect service, especially in Ukraine, where its functionality is currently limited. Let’s explore the key risks and disadvantages to consider before using it.

No Banking License in Ukraine

Unlike in EU countries, where Revolut has a full banking license, in Ukraine, it operates as an electronic wallet. This means that:

• 🔹 Funds in the account are not protected by the Deposit Guarantee Fund (in case of problems with the service, you won’t be able to recover them as easily as with a traditional bank).
• 🔹 Limited support of Ukrainian legislation – if disputes with the service arise, they have to be resolved under British or Lithuanian law.

Limited Operation in Ukraine

Revolut officially launched in Ukraine in 2025, but it still doesn’t offer its full functionality.

• 🔸 No support for the hryvnia – you cannot store funds in UAH or convert directly.
• 🔸 No credit products – the service does not issue loans or support installment plans.
• 🔸 Some Ukrainian banks may block transfers to Revolut, considering them suspicious.

Fees and Hidden Charges

• Commission-free exchange – only within the limit ($1000/month on the Standard plan), after which a 0.5% fee is applied.
• Weekend currency conversion is more expensive – converting money on Saturday/Sunday incurs higher fees (from 0.5% to 1%).
• ATM cash withdrawal is limited – free only up to $200 per month (on the Standard plan), afterward a 2% fee applies.

Tax and Regulatory Issues

• ✅ Revolut does not share data with the Ukrainian tax office (but banks may request proof of income).
• ✅ If large amounts are received on Ukrainian cards, the bank may block the transaction and request documents.
• ✅ Officially, income earned through Revolut must be declared and taxed.

Account Freezes Without Explanation

One of the biggest complaints about Revolut is unexpected account freezes.

• 🔹 The service uses automated algorithms for transaction verification.
• 🔹 If Revolut deems payments suspicious, the account might be frozen without explanation.
• 🔹 Unfreezing accounts can take weeks or even months, as support might take a long time verifying documents.

carefully verifies documents.

Risks When Dealing with Cryptocurrency

Revolut offers buying, selling, and exchanging cryptocurrencies directly in the app, but there are serious restrictions that make this service not the safest option for dealing with digital assets.

You do not own your cryptocurrencies – when purchasing Bitcoin, Ethereum, or other coins, Revolut does not allow you to transfer them to your own wallet.

Conclusion: Is It Worth Using Revolut in Ukraine?

Revolut is a modern and convenient financial service that provides Ukrainians with multi-currency accounts, favorable currency exchange rates, international transfers, and access to cryptocurrencies.