In this article, you'll discover whether Revolut works in Spain, explore some potential drawbacks if it is available, and consider the possibilities it offers for users in the country.
Does Revolut Work In Spain?
Revolut is indeed available in Spain, offering a range of financial services to both residents and visitors. Users can access personal and business accounts, make international money transfers, and invest in stocks and commodities. The platform supports spending in euros, making it convenient for everyday transactions in Spain.
Additionally, Revolut provides functionalities such as bill splitting, earning rewards through RevPoints, and various card options. The service is expanding in Spain, with plans to open new offices in Madrid and Barcelona, ensuring broader accessibility and support for its users in the country.
Fees and Charges for Using Revolut in Spain
When using Revolut in Spain, it's important to be aware of the various fees and charges that may apply. Here are some of the key fees associated with using Revolut in Spain:
- Additional merchant surcharge fees: These fees, if applicable, are set by the merchant.
- Currency exchange transactions above £1,000: A 0.5% fee is incurred.
- Currency exchanges on weekends: A 1% fee is applied.
- ATM withdrawals over £200 (or more than 5 withdrawals): A 2% fee is charged.
Is Revolut the Best Option in Spain?
Even though Revolut is available in Spain, it might not be the best option for all users due to certain limitations and restrictions that could impact its usability and cost-effectiveness.
- Merchant surcharge fees: These fees are set by the merchant and can vary.
- Currency exchange fees: A 0.5% fee applies for transactions above £1,000.
- Weekend currency exchange fees: A 1% fee is charged for exchanges on weekends.
- ATM withdrawal fees: A 2% fee is incurred for withdrawals over £200 or more than 5 times.
- Limited customer support: Users may experience delays in receiving assistance.
Alternative Payment Solutions in Spain
1) OneSafe
OneSafe is a leading alternative payment solution in Spain, offering a seamless onboarding process, lower fees, and superior customer support. With features like global payments, multi-currency support, and user-friendly corporate cards, OneSafe stands out as a modern financial platform for businesses navigating both traditional and digital currencies.
OneSafe Reviews
OneSafe has received a rating of 3.2 out of 5 on Trustpilot. Users appreciate the seamless onboarding process and superior customer support, often highlighting the platform's user-friendly interface and efficient global payment solutions. Check out more of our reviews here!
2) Wise
Wise is a reliable alternative payment solution in Spain, offering international money transfers with real exchange rates and low fees. Key features include multi-currency accounts, high app ratings, and robust security measures. Users benefit from cost savings, ease of use, and the ability to send money globally.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 from 23 reviews and a recent rating of 4.5 out of 5 from 2 reviews. Users generally mention issues with government restrictions and specific transaction problems. Check out more Wise reviews here.
3) Paypal
PayPal is a viable alternative payment solution in Spain, offering secure transactions, global money transfers, and support for online shops. Key features include Buyer Protection, 24/7 fraud monitoring, and the ability to link multiple cards. These benefits make PayPal a reliable option for both personal and business use.
Paypal Reviews
PayPal has a rating of 4.4 out of 5 stars. Users generally mention high transaction fees, a lengthy dispute resolution process, and issues with customer fraud and refund scams. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Spain
Can I use Revolut to pay in euros in Spain?
Yes, Revolut supports spending in euros, making it convenient for everyday transactions in Spain.
Are there any fees for ATM withdrawals in Spain?
ATM withdrawals over £200 or more than 5 times incur a 2% fee.
Does Revolut offer customer support in Spain?
Yes, but users may experience delays in receiving assistance due to limited customer support.
Can I invest in stocks using Revolut in Spain?
Yes, Revolut allows users in Spain to invest in stocks and commodities.
Is Revolut expanding its services in Spain?
Yes, Revolut plans to open new offices in Madrid and Barcelona to enhance accessibility.
Conclusion
Choosing the right payment solution in Spain is crucial for seamless financial transactions. While Revolut offers various services, exploring alternatives like OneSafe can provide additional benefits such as lower fees and superior customer support. Consider signing up for OneSafe to enhance your financial experience in Spain. Signup today!
