Using Revolut in Germany: Free Plan, Pros & Cons, and Practical Tips

Revolut is a UK-founded digital financial services company operating in the EU under a Lithuanian banking license. It's available in 40+ countries, including the full EEA, UK, US, Japan, Australia, and more. Signing up in Germany gives you a German IBAN (DE prefix), compatible with German Lastschrift (direct debit) systems. Weekend currency exchange carries a 1% surcharge (Friday 5pm to Sunday 6pm). On weekdays, no surcharge applies. Revolut supports Apple Pay and Google Pay — you can start using it immediately after signing up.

What Is Revolut?

Revolut offers digital accounts, currency exchange, and international transfers — somewhere between a traditional bank and a digital wallet. It holds an EU banking license (Lithuanian), which means deposit protection follows Lithuanian regulations — not the German deposit guarantee scheme.

For exchange students living and traveling in Europe, the main use cases are: everyday card payments, splitting bills with friends, and currency exchange when traveling to non-euro countries.

What the Free Plan (Standard) Includes

Pros

• Mid-market exchange rate: Weekday card payments and currency exchanges use the true interbank rate with no hidden markup — better than most credit cards or airport exchange counters
• German IBAN: Signing up in Germany gives you a DE IBAN, which works smoothly with German direct debit (Lastschrift) systems
• Free instant transfers: Revolut-to-Revolut transfers are free and instant — easy for splitting bills with friends
• Free SEPA transfers: Euro transfers within the EU are free
• Multi-currency support: Useful when traveling to non-euro countries (Czech Republic, Poland, Hungary, etc.) — card payments or in-app exchanges at competitive rates
• Apple Pay / Google Pay: Add to Wallet right after sign-up and use immediately — no waiting required

Cons and Things to Watch

• 1% weekend exchange surcharge: Currency exchange from Friday 5pm to Sunday 6pm costs an extra 1% — worth planning around by exchanging in advance on weekdays
• ATM monthly limit: €200 free per month (max 5 withdrawals), then 2% — not ideal for frequent cash use
• Not a traditional bank: Deposit protection follows Lithuanian rules, not the German guarantee scheme — not the right place to park large sums
• Customer support: Primarily through in-app chat; response times for complex issues can be slow
• Some German services prefer traditional bank accounts: The DE IBAN covers most situations, but a small number of providers or landlords may ask for a non-digital bank account

How to Apply

The entire process is done on your phone and takes around 10–15 minutes.

What you'll need: - Passport - German address (your dorm address works fine) - Phone number

Steps:

1. Download the app and start signing up Applying through a referral link may give you a new-user bonus (the amount varies by promotion — check what's shown in the app during sign-up). Note: the referral must be applied at the start of the application; it can't be added retroactively.

2. Enter your phone number and email

3. Verify your identity Follow the in-app prompts to photograph your passport and take a selfie. AI verification usually completes within a few minutes.

4. Enter your address Your German dorm address is fine. Signing up with a German address gives you a DE IBAN.

5. Choose a plan Select the Standard plan and skip any upgrade prompts.

6. Add to Apple Pay or Google Pay Open Wallet and add your Revolut card — ready to use immediately.

Practical Tips

Exchange currency on weekdays

Weekend exchange (Friday 5pm – Sunday 6pm) carries a 1% surcharge. On weekdays, there's no additional fee on top of the mid-market rate. The simplest approach: exchange what you need during the week and spend in euros over the weekend without triggering an in-app exchange.

ATM withdrawals

Free up to €200 per month (max 5 withdrawals), then 2% per withdrawal. Germany still uses cash fairly often — markets, secondhand sales, smaller restaurants — so withdrawing a larger amount at once is more efficient than making multiple small trips.

Splitting bills with friends

If your friends also use Revolut, transfers between accounts are instant and free. Useful when splitting travel costs, meals, or accommodation.

Quick Reference

Questions or feedback?

If anything in this article is incorrect or you have a question, feel free to leave a note.