Revolut Business launches fee-free USD transfers for UK customers

By Amelia Isaacs on Friday 10 June 2022

Digital Banking

The feature is now available to the app’s half a million business customers.

Revolut Business launches fee-free USD transfers for UK customers
Image source: Revolut Business.

Revolut is moving one step closer to borderless accounts with its latest offering for its 500,000 business customers worldwide, according to the financial super app.

The company is launching new fee-free USD transfers to the UK.

Companies in the UK will now be able to use US bank details to accept payments from US customers without fees through Revolut Business.

The app aims to save users both time and money as the number of UK B2B customers doing business with US customers grows.

“With so many UK-based companies doing business in the US, we’re excited to move one step closer to borderless accounts,” Revolut Business director James Gibson said.

“Allowing our clients to receive payments from a foreign country without asking the sender to use SWIFT saves the sender both time and money.”

The new feature will enable Revolut Business customers to receive USD payments via the Automated Clearing House (ACH) Network for payments of up to $1m. 

Users will also still be able to use IBAN details to receive USD payments via SWIFT.

All UK business customers will be able to access the feature from today.

The new feature comes off the back of a series of new offerings for Revolut Business customers.

Last month the company introduced a new ‘spend management’ feature allowing customers to issue an unlimited number of physical and virtual cards to their teams and monitor and manage their usage.

It also rolled out new payroll features in February, including salary calculations, taxes, pensions and pay runs. 

Revolut Business customers can also accept payments in up to 28 currencies into dedicated currency accounts.

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