In this article, you'll discover whether Revolut works in Denmark, explore some potential drawbacks if it is available, and consider the possibilities it offers. Stay tuned to find out more.
Does Revolut Work In Denmark?
Revolut is available in Denmark, offering a range of functionalities similar to those in other European countries. Users can open personal and business accounts, spend in multiple currencies, and earn rewards like RevPoints. Additionally, Revolut provides options for investing in stocks and commodities, as well as savings accounts with interest.
In Denmark, Revolut users can also benefit from fast and cost-effective international money transfers. The app includes robust security features to protect user funds, and users can manage their finances seamlessly through the app. Overall, Revolut's services in Denmark are designed to offer convenience and flexibility for both personal and business financial management.
Fees and Charges for Using Revolut in Denmark
Here are some general costs that users might encounter:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: A maximum of 5 ATM withdrawals a month and up to £200 per rolling month are free. Anything over these limits is charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction fees: No specific transaction fees for spending in Danish Kroner, but currency exchange fees may apply if the transaction involves a currency conversion.
- Currency conversion fees: Exchange fees above your free conversion limits will apply for currency conversions.
- Withdrawal fees: Fee-free ATM withdrawals up to £200 for Standard and Plus plans, up to £400 for Premium plan, and up to £800 for Metal plan. Withdrawals beyond these limits are charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- General costs: Standard Plan is free, Plus Plan costs £3.99/month, Premium Plan costs £7.99/month, Metal Plan costs £14.99/month, and Ultra Plan costs £45/month (introductory offer).
Is Revolut the Best Option in Denmark?
Even though Revolut is available in Denmark, it might not be the best option for users due to certain limitations and restrictions that could impact the overall user experience.
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal limits: Free up to £200 per month; 2% fee beyond that.
- Additional ATM fees: Some ATM providers may impose extra charges.
- Currency conversion fees: Apply if withdrawing in a currency not held in the wallet.
- Plan limitations: Higher-tier plans needed for more fee-free withdrawals and benefits.
Alternatives to Revolut in Denmark
1) OneSafe
OneSafe is a leading alternative payment solution in Denmark, offering ease of use, lower fees, and superior customer support. With features like global payments, multi-currency support, and seamless crypto-to-fiat conversions, OneSafe ensures streamlined financial operations for businesses, making it a superior option.
OneSafe Reviews
Users have praised OneSafe for its comprehensive services, including ACH, Crypto, Wire deposits, and Virtual cards, making it a preferred choice for many businesses. The company is recognized for its ease of use and robust support, contributing to its positive reputation among users.
2) Wise
Wise offers a robust alternative payment solution in Denmark, featuring multi-currency accounts, low-fee international money transfers, and a debit card for global spending without foreign transaction fees. Users benefit from cost-effective, transparent, and fast transactions, along with strong security measures and the convenience of managing money in over 40 currencies.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval.
Check out more Wise reviews here.
3) Paypal
PayPal is a reliable alternative payment solution in Denmark, offering secure payments, global money transfers, and support for online shopping. Key features include 24/7 fraud monitoring, Buyer Protection, and the ability to link multiple cards. These benefits make PayPal a convenient and safe choice for managing finances.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 stars. Users have mentioned high transaction fees and a lengthy dispute resolution process. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Denmark
Is Revolut available for both personal and business accounts in Denmark?
Yes, Revolut offers both personal and business accounts for users in Denmark.
Are there any fees for international money transfers with Revolut in Denmark?
International money transfers are generally low-cost, but fees may apply depending on the currency and amount.
Can I use Revolut to invest in stocks and commodities in Denmark?
Yes, Revolut allows users in Denmark to invest in stocks and commodities through the app.
What are the ATM withdrawal limits for Revolut users in Denmark?
Standard and Plus plans offer fee-free withdrawals up to £200 per month; higher plans offer more.
Does Revolut support multiple currencies for spending and transfers in Denmark?
Yes, Revolut supports spending and transfers in multiple currencies, making it convenient for international use.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Denmark is crucial for seamless financial management. While Revolut offers various features, exploring OneSafe could provide superior benefits like lower fees and better support. Start your journey with OneSafe today and experience a new level of financial convenience. Signup now!
