In this article, you'll discover whether Revolut works in Kazakhstan, explore some potential drawbacks if it is available, and consider the possibilities it offers. Stay tuned for a comprehensive overview.
Does Revolut Work In Kazakhstan?
Revolut does not operate as a local financial entity in Kazakhstan. However, it offers services that allow users to spend and withdraw money in Kazakhstani Tenge using their Revolut card. This means that while you cannot open a local Revolut account in Kazakhstan, you can still use Revolut's multi-currency card for transactions in the country.
Users can benefit from fee-free ATM withdrawals up to certain limits, set spending limits, and freeze their card via the app. Additionally, Revolut provides instant notifications for spending, currency exchange, and the ability to hold multiple currencies, making it a convenient option for travelers and expatriates in Kazakhstan.
Fees and Charges for Using Revolut in Kazakhstan
Here are some general costs that users might encounter when using Revolut in Kazakhstan:
- 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 spending in Kazakhstani Tenge, but currency exchange fees may apply if the transaction involves a currency conversion.
- Additional fees: Potential additional fees charged by ATM providers that Revolut cannot prevent.
Is Revolut the Best Option in Kazakhstan?
Even though Revolut is available in Kazakhstan, it might not be the best option for users due to certain limitations and restrictions that could affect the overall user experience.
- Fair-usage limits: Currency exchange fees are subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: Free withdrawals are limited to £200 per month; excess incurs a 2% fee.
- Additional ATM fees: Some ATM providers may charge extra fees that Revolut cannot prevent.
- Currency conversion: Users must select 'No' if an ATM asks to convert money to avoid poor rates.
- Service exclusions: No specific regional limitations, but users should verify availability via the app.
Alternatives to Revolut in Kazakhstan
1) OneSafe
OneSafe is a leading alternative payment solution in Kazakhstan, offering a seamless blend of traditional and Web3 financial services. Key features include simple onboarding, global payments, and multi-currency support. With lower fees and superior customer support, OneSafe stands out as a superior option for businesses.
OneSafe Reviews
Users have praised Onesafe for its comprehensive banking features, including ACH, Crypto, Wire deposits, and Virtual cards. The support for various business needs has been highlighted as a significant advantage, making it the best bank some users have ever used.
2) Wise
Wise offers a multi-currency account, international money transfers, and a Wise debit card, making it a versatile payment solution in Kazakhstan. Users benefit from low fees, transparency, and strong security measures. Wise supports 40 currencies and is available in 160 countries, providing a reliable option for managing global transactions.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 87 reviews. Users generally mention ease of setup and use, but some have faced issues with government regulations and transaction failures.
Check out more Wise reviews here.
3) Paypal
PayPal offers a versatile payment solution in Kazakhstan, featuring secure and convenient options for shopping, sending, and receiving money. Key benefits include multiple payment methods, such as PayPal Credit and Pay in 4, robust security measures, and the ability to manage finances efficiently, making it a reliable choice for users.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5. Users generally mention high transaction fees, subpar customer support, and issues with exchange rates and account blocking.
Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Kazakhstan
Can I open a local Revolut account in Kazakhstan?
No, you cannot open a local Revolut account in Kazakhstan. Only international accounts are available.
Are there any fees for using Revolut in Kazakhstan?
Yes, fees include currency exchange fees, ATM withdrawal fees, and potential additional ATM provider fees.
Can I use Revolut for online purchases in Kazakhstan?
Yes, you can use your Revolut card for online purchases in Kazakhstani Tenge.
Does Revolut support Kazakhstani Tenge?
Yes, Revolut supports Kazakhstani Tenge, allowing you to spend and withdraw in the local currency.
Is Revolut a good option for travelers in Kazakhstan?
Revolut is convenient for travelers due to its multi-currency support and instant spending notifications.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Kazakhstan is crucial for seamless financial transactions. While Revolut offers some benefits, exploring OneSafe can provide superior features and lower fees. OneSafe's blend of traditional and Web3 services makes it a standout option. Sign up today to experience the difference.
