In this article, you'll find out if Revolut works in Guatemala, some drawbacks if it is available, and some possibilities for its future expansion. Stay tuned to learn more.
Does Revolut Work In Guatemala?
Does Revolut work in Guatemala? Revolut isn't available in Guatemala. The service does not support local banking or financial operations within the country.
While Revolut offers a Guatemalan Quetzal currency card for travelers, it does not extend its full range of functionalities to residents. Users can spend and withdraw money in Guatemalan Quetzales, but local banking services are not supported.
Fees and Charges for Using Revolut in Guatemala
Here are some general costs that users might encounter when using Revolut in Guatemala:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM 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).
- Transaction fees: No specific transaction fees for using the card in shops and restaurants, but it is advised to choose GTQ as the local currency to avoid additional charges.
- Currency conversion fees: If withdrawing from an ATM in a currency not held in the wallet, a conversion fee will apply.
- Additional ATM fees: Some ATMs may charge an additional access fee that Revolut cannot prevent.
Is Revolut the Best Option in Guatemala?
Even though Revolut is available in Guatemala, it might not be the best option for users due to several limitations and restrictions that could affect the overall user experience.
- Limited local banking support: Revolut does not support local banking operations in Guatemala.
- Fair-usage fees: Currency exchange fees are subject to fair-usage limits and weekend markups.
- ATM access fees: Some ATMs may charge additional access fees that Revolut cannot prevent.
- Withdrawal limits: Fee-free ATM withdrawals are limited based on the user's plan.
- Currency conversion fees: Unfavorable rates may apply if withdrawing in a currency not held in the wallet.
Alternatives to Revolut in Guatemala
1) OneSafe
OneSafe stands out as a leading alternative payment solution in Guatemala. It offers simple onboarding, lower fees, and exceptional customer support. Key features include global payments, multi-currency support, and state-of-the-art security measures, making it a superior option for seamless financial operations.
OneSafe Reviews
OneSafe users have praised the platform for its comprehensive features, including ACH, Crypto, Wire deposits, and Virtual cards. Many users appreciate the seamless onboarding process and exceptional customer support. OneSafe has been recognized for its state-of-the-art security measures, making it a trusted choice for global payments and multi-currency support.
2) Wise
Wise offers a robust alternative payment solution in Guatemala, featuring low fees, fast international transfers, and multi-currency support. Users benefit from a Wise debit card, secure transactions with two-factor authentication, and the ability to manage money globally. These features make Wise a practical choice for international financial operations.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 87 reviews. Users have reported issues with government restrictions, problems with money transfers not being completed without notification, and challenges with document approval. Check out more Wise reviews here.
3) Paypal
PayPal offers a versatile payment solution in Guatemala, featuring key benefits such as easy money transfers, secure transactions, and global reach. Users can enjoy features like PayPal Debit Card, Buy Now, Pay Later, and encrypted payments, making it a reliable option for managing finances and conducting international transactions.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 based on user reviews. Users have reported high transaction fees, lengthy dispute resolution processes, and occasional delays in fund transfers. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Guatemala
Can I open a Revolut account in Guatemala?
No, Revolut does not support account openings for residents of Guatemala.
Can I use my Revolut card in Guatemala?
Yes, you can use your Revolut card for transactions and ATM withdrawals in Guatemala.
Are there any fees for using Revolut in Guatemala?
Yes, fees include currency exchange, ATM withdrawal limits, and potential additional ATM access fees.
Does Revolut support Guatemalan Quetzal?
Revolut offers a Guatemalan Quetzal currency card for travelers but lacks full local support.
Can I receive local payments in Guatemala with Revolut?
No, Revolut does not support receiving local payments within Guatemala.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Guatemala is crucial for seamless financial operations. While Revolut has limitations, OneSafe offers comprehensive features like global payments and multi-currency support. Explore OneSafe for a superior experience. Ready to make the switch? Sign up to OneSafe today!
