A firm registered in one country, with contractors in three others and revenue arriving in two currencies, will spend more on conversion than on almost any software it buys. That is the specific job a multi-currency business account exists to solve, and it is worth being precise about which parts of the job it actually does.
What the account gives you operationally
A Revolut Business account provides balances in multiple currencies under one login, with local account details for the main ones: a UK sort code and account number for GBP, and a euro IBAN for SEPA. Payments in and out settle over the local rails rather than being forced through correspondent banking, which matters because SWIFT fees and intermediary deductions are the usual reason a supplier receives less than the invoice.
Around the balances sit the things a finance function needs day to day: physical and virtual cards issued to team members, spend rules and per-card limits, approval workflows for outbound payments, bulk payment uploads for paying a list of contractors in one action, and accounting integrations that push transactions into the ledger with receipts attached. Team roles let a bookkeeper see transactions without holding payment rights.
There is also an API. For a firm running its own portal, that is the part with real leverage: outbound payouts can be initiated programmatically and webhooks confirm settlement, so a finance operator stops copying IBANs by hand. Any such automation needs the same controls a human process would have, with approval thresholds and an audit trail on every instruction.
The pricing model, and where it bites
Revolut Business is sold on tiered monthly plans. Each tier includes an allowance: a number of free local transfers, a monthly volume of currency exchange at the published market rate, and a set of card and account features. Beyond the allowance, per-transfer fees and an exchange markup apply. Published plan pricing changes, so check the current fee page rather than trusting a figure quoted in an article.
Two details cost firms money quietly. First, the interbank rate applies during market hours; conversions over the weekend carry an additional markup, because the provider is quoting a price when the underlying market is closed. Batch your conversions into the working week and that line disappears. Second, the allowance is a monthly reset, so a firm that converts once a quarter in a large block pays markup on most of it, while the same volume spread across three months might sit inside the plan.
An e-money institution account is not a bank deposit account. Funds are safeguarded in segregated accounts at credit institutions rather than covered by deposit guarantee schemes, unless the entity holding your balance is a licensed bank in that jurisdiction. Confirm which entity your account sits with before deciding how much working capital lives there.
Where it stops: client money
This is the line that gets brokers into trouble. A licensed firm holding retail client funds normally has to place them in segregated client money accounts at institutions its rules permit, with the account correctly titled and the institution acknowledging that the money is not the firm's own. That is a different arrangement from a corporate account at a payments provider, and it comes with reconciliation duties on a defined cycle. Our note on client fund segregation covers what the account title and acknowledgement letter have to say.
The practical model most firms end up with is a split. Client money sits with a bank that will formally act as a client money holder. The operating company keeps payroll, marketing spend, platform licences and supplier payments in a fintech account where the multi-currency handling is better. Deposits from clients arrive through card and e-wallet processors into designated accounts, never into the general operating account, and the reconciliation between processor reports and the ledger runs daily inside the Broker CRM rather than in a spreadsheet.
Onboarding and the freeze risk
Financial services companies sit in a higher-risk category for every payments provider. Applications get more scrutiny, and accounts that behave unexpectedly get reviewed mid-life. The pattern that triggers automated review is predictable: a sudden run of small inbound payments from many individuals, or outbound transfers to jurisdictions the account never touched before.
The way through is disclosure at the start. Describe the business accurately in the application, provide the licence or the corporate structure documents, name the payment processors you use, and keep an up-to-date pack of contracts and source-of-funds evidence. Firms that describe themselves as "consulting" to get through onboarding faster reliably lose the account later, along with whatever sits in it during the review.
Also expect friction that has nothing to do with you. A euro IBAN issued in one country is legally acceptable for a SEPA payment anywhere in the area, and refusals still happen from payroll systems and utilities that hard-code a national prefix. We wrote about IBAN discrimination separately because it affects which account you give to which counterparty.
Choosing between the obvious alternatives
The comparison firms usually run is against Wise Business, and the honest answer depends on which side of the operation dominates. If the heaviest workload is cross-border payouts to a long list of recipients in many currencies, the fee mechanics differ enough to matter and we set them out in Wise versus Revolut. If the heaviest workload is internal spend control, cards and approvals, the business account tooling is the deciding factor. Many firms hold both, and the second one exists precisely so a single review does not stop payroll.
"Every firm we onboard has the same story eventually: an account under review on a Friday. The ones who cope have a second provider already open and funded, not bookmarked."
— Roman Onta, Executive Director, SINGUARD
Key Takeaways
- Local GBP details and a EUR IBAN keep routine payments off correspondent banking, which is where intermediary deductions come from.
- Plan allowances reset monthly and weekend conversion carries an extra markup, so time and split larger FX conversions.
- Use it for operating funds. Client money belongs in properly titled segregated accounts at an institution your rules permit.
- Disclose the financial services activity at onboarding and keep a second provider live, because reviews arrive without warning.
Frequently Asked Questions
Can a broker hold client money in a Revolut Business account?
Generally no. Licensed firms are usually required to hold client money in segregated accounts at credit institutions that meet their regulator's criteria, and the account must be titled as a client money account with the bank acknowledging it. An e-money account is designed for corporate operating funds, so treat it as a payroll and supplier account rather than a client fund account.
Does Revolut Business give real local account details?
Yes for the main currencies. Business accounts provide local GBP details and a EUR IBAN, with additional local details available in some other currencies depending on the entity and plan. Whether a counterparty accepts a EUR IBAN issued in a different country to your own is a separate question, and refusals still happen despite the rules against it.
Why do fintech accounts freeze payments for trading companies?
Automated monitoring flags patterns that resemble higher-risk activity, such as many small inbound payments from individuals followed by outbound transfers. The provider then requests documentation on the source of funds and the nature of the business. Firms that disclose the trading business at onboarding and keep licence and contract documents ready are reviewed faster than firms that describe themselves vaguely.