In this article, you'll discover whether Revolut works in Ukraine, explore some potential drawbacks if it is available, and consider the possibilities it offers. Stay tuned to find out more.
Does Revolut Work In Ukraine?
Revolut is available in Ukraine, offering a range of functionalities for users. The app supports multi-currency accounts, allowing users to hold and spend in over 150 currencies, including Ukrainian Hryvni. This makes it convenient for both locals and travelers to manage their finances seamlessly.
Additionally, Revolut provides fee-free ATM withdrawals up to certain limits, depending on the user's plan. The app also offers features like spending controls, instant notifications, and currency exchange, enhancing the overall user experience. These functionalities make Revolut a versatile financial tool for those in Ukraine.
Fees and Charges for Using Revolut in Ukraine
Here are some general costs that users might encounter:
- Currency Exchange Fees: Currency exchange fees are subject to fair-usage limits and weekend markups.
- ATM Withdrawal Fees: Fee-free ATM withdrawals up to certain limits based on the user's plan. After hitting these limits, a fee of 2% of the withdrawal amount or a minimum of £1 (whichever is greater) is charged.
- Potential ATM Access Fees: ATM providers may charge access fees, which Revolut cannot prevent.
Is Revolut the Best Option in Ukraine?
Even though Revolut is available in Ukraine, it might not be the best option for users due to certain limitations and restrictions that could affect the overall user experience.
- ATM Access Fees: Some ATM providers may charge additional fees that Revolut cannot prevent.
- Currency Exchange Markups: Weekend markups and fair-usage limits can increase currency exchange costs.
- Withdrawal Limits: Fee-free ATM withdrawals are limited based on the user's plan.
- Customer Support: Limited customer support options may delay issue resolution.
- Regulatory Compliance: Potential regulatory issues could impact service availability or features.
Alternatives to Revolut in Ukraine
1) OneSafe
OneSafe is a leading alternative payment solution in Ukraine, offering ease of use, lower fees, and superior customer support. With features like simple onboarding, global payments, and multi-currency support, OneSafe ensures efficient and secure financial operations, making it a superior option for users.
OneSafe Reviews
Users have praised OneSafe for its comprehensive banking features, including ACH, Crypto, Wire deposits, and Virtual cards. The company is noted for supporting a wide range of businesses, which is seen as a significant advantage by users.
2) Paypal
PayPal offers a secure and convenient payment solution in Ukraine, allowing users to send and receive money globally. Key features include 24/7 fraud monitoring, Buyer and Seller Protection, and the ability to link multiple cards for flexible payments. These benefits make PayPal a reliable option for financial transactions.
Paypal Reviews
PayPal has an overall rating of 1.3 out of 5 based on 32,226 reviews. Users frequently mention issues with customer service, unauthorized transactions, and difficulties in obtaining refunds.
Check out more PayPal reviews here.
3) Monobank
Monobank, a mobile-only bank in Ukraine, offers a range of financial services through its smartphone application. Key features include quick credit card issuance, up to 20% cashback on selected purchases, and free utility payments. The app's user-friendly interface and comprehensive services make Monobank a convenient and efficient banking option.
Monobank Reviews
Monobank has an overall rating of 2.7 out of 5 based on 74 reviews. Users generally report issues with customer service, account blocking, and loan problems. Check out more Monobank reviews here.
Frequently Asked Questions about Revolut in Ukraine
Can I use Revolut to withdraw cash in Ukraine?
Yes, you can withdraw cash from ATMs in Ukraine, subject to your plan's limits.
Are there any fees for using Revolut in Ukraine?
Yes, fees may include currency exchange markups, ATM withdrawal fees, and potential ATM access fees.
Does Revolut support the Ukrainian Hryvnia?
Yes, Revolut supports the Ukrainian Hryvnia, allowing you to hold and spend in this currency.
Is customer support available for Revolut users in Ukraine?
Customer support is available but may be limited, potentially causing delays in issue resolution.
Can I use Revolut for online purchases in Ukraine?
Yes, you can use Revolut for online purchases, provided the merchant accepts Revolut cards.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Ukraine is crucial for seamless financial management. While Revolut offers various features, alternatives like OneSafe provide superior benefits, including lower fees and better customer support. Explore OneSafe to enhance your financial operations. Sign up today!
