In this article, you'll discover whether Revolut works in Zambia, explore some drawbacks if it is available, and consider potential possibilities. Stay tuned to find out more.
Does Revolut Work In Zambia?
Does Revolut work in Zambia? Revolut is not available in Zambia. The service primarily targets travelers from the UK to Zambia, offering a Zambian Kwacha currency card for convenient spending during their visit.
While Revolut provides various financial services globally, including personal and business accounts, virtual and physical cards, and international money transfers, these services are not accessible to residents of Zambia. The focus remains on facilitating transactions for travelers rather than offering full-fledged banking services within the country.
Fees and Charges for Using Revolut in Zambia
Here are some general costs that users might encounter when using Revolut in Zambia:
- Currency Exchange Fees: Subject to fair-usage limits and weekend markups.
- ATM Withdrawals: Fee-free up to certain limits depending on the plan:
- Standard: Fee-free ATM withdrawals up to £200
- Plus: Fee-free ATM withdrawals up to £200
- Premium: Fee-free ATM withdrawals up to £400
- Metal: Fee-free ATM withdrawals up to £800
- Additional Fees: After hitting the fee-free limits, a small fee is charged. If withdrawing from an ATM in a currency not held in the wallet, a conversion fee applies. ATM owners may also charge additional fees.
- Transaction Fees: Not explicitly mentioned, but currency exchange fees apply.
- Currency Conversion Fees: Apply if withdrawing from an ATM in a currency not held in the wallet.
- Withdrawal Fees: After exceeding the fee-free ATM withdrawal limits, a fee of 2% of the value of the withdrawal or a minimum fee of £1 (whichever is greater) is charged.
Is Revolut the Best Option in Zambia?
Even if Revolut is available in Zambia, it might not be the best option for users due to several limitations and restrictions that could impact the overall user experience.
- Limited Local Support: Revolut lacks dedicated customer support within Zambia.
- Currency Exchange Fees: Subject to fair-usage limits and weekend markups.
- ATM Withdrawal Limits: Fee-free withdrawals are capped based on the user's plan.
- Additional Fees: Extra charges apply after exceeding fee-free limits.
- Regulatory Challenges: Potential issues with local financial regulations.
Alternatives to Revolut in Zambia
1) OneSafe
OneSafe stands out as a leading alternative payment solution in Zambia, offering ease of use, lower fees, and superior customer support. Key features include simple onboarding, multi-currency support, and seamless global payments. These benefits make OneSafe a superior option for managing financial operations efficiently.
OneSafe Reviews
Users appreciate Onesafe for its innovative and speedy services, particularly benefiting tech-oriented entrepreneurs. The ease of registration and the variety of services, including ACH, Crypto, Wire deposits, and Virtual cards, are frequently praised. Overall, the positive feedback underscores Onesafe's commitment to customer satisfaction and efficient financial solutions.
2) Wise
Wise offers a multi-currency account, international money transfers, and a debit card, making it a versatile payment solution in Zambia. Key benefits include lower costs on transfers, no hidden fees, and robust security measures. Wise is regulated by the FCA and provides 24/7 customer support, ensuring reliability and convenience.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 87 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 offers a secure and versatile payment solution in Zambia, featuring encrypted transactions, multiple payment options like "Pay in 4" and PayPal Credit, and global money transfers. Users can also benefit from cash back rewards, high APY savings accounts, and simplified cryptocurrency transactions, making it a reliable choice for managing finances.
Paypal Reviews
PayPal has a rating of 4.4 out of 5 stars. Users generally mention high transaction fees, issues with customer support, occasional delays in fund transfers, and problems with exchange rates. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Zambia
Is Revolut available for residents of Zambia?
No, Revolut is not available for residents of Zambia. It primarily serves travelers.
Can I use Revolut for ATM withdrawals in Zambia?
Yes, but fees apply after exceeding the fee-free withdrawal limits based on your plan.
Are there currency exchange fees when using Revolut in Zambia?
Yes, currency exchange fees are subject to fair-usage limits and weekend markups.
Does Revolut offer customer support in Zambia?
No, Revolut lacks dedicated customer support within Zambia, which may affect user experience.
What are the alternatives to Revolut in Zambia?
Alternatives include OneSafe, Wise, and PayPal, each offering unique features and benefits.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Zambia is crucial for seamless financial management. While Revolut has limitations, alternatives like OneSafe offer superior features and support. Explore OneSafe for efficient, low-cost transactions and excellent customer service. Sign up today to experience the benefits firsthand!
