We know that payment fees from are a massive frustration and can be really costly from a traditional bank account. It’s even worse when you work online, with clients from countries all over the world. You get charged terrible foreign exchange fees (FX fees) to get the money in your local currency and then they often charge a transaction fee on top of that!
We’ve heard stories of people losing 15% of their earnings down to these damn fees.
But, there is a solution. Twine has partnered with Revolut. They are the market leader in revolutionizing online banking for businesses and customers.
Cutting edge multi-currency bank account
Revolut’s Business account lets you hold, receive and exchange 29 currencies without any ridiculous bank charges. You can keep payments in the currency that you receive them in, and then only transfer them to your local currency when you need to.
This is particularly useful with USD, as so many online services charge in USD. In the past you would receive the money USD, exchange it to your local currency, which incurred a FX fee. Then you would buy a service or product in USD and pay another FX charge. That’s a double charge!
When directly comparing Revolut to PayPal, PayPal charge you up to 3.5% as a transaction fee, plus a 50 cent minimum, plus a hidden FX fee due to their poor exchange rates. When you add them all together it can often work out at over 7%.
With Revolut for business you pay:
+0.5% to all major currencies (ie. USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN, and CZK); and
+1% to all other currencies including THB and UAH.
If you have friends, family or clients with any other Revolut bank account (business or personal) then you can send money to them instantly and for free, much like other services.
You can also save on transfer fees when you make payments to businesses around the world. This is getting more common as Revolut becomes more popular.
Integration to Other Services
If you use popular account software such as QuickBooks, Xero, or FreeAgent then you can link your account. This is so important to keep on top of your finances and means there is one less to think about. You can get payment reminders and invoicing all integrated.
Revolut Business accounts also let you setup easy one-click integrations with popular apps such as Slack, QuickBooks and Zapier. Then you can get team messaging looped in with your payments and Zapier enables a whole other world of integrations.
Prepaid Corporate Cards and Payment Approval
One of Revolut Business’ best features for creative studios is the easy way to issue and track expenses on your dashboard when you issue cards to your team.
Payment approval lets your team raise payments that need to be approved. Bulk payments allow you to make up to 1,000 payments with a single click and scheduled payments allow you to, well, schedule payments. It’s a great way to easy scale from being freelance to making a studio.
Instant Set Up
You can get a decision in minutes, all online, in a super simple process. Open an account under your personal name and get two cards, plus read only access for your accountant.
In the modern age, don’t live in the past with traditional banks. Start keeping more of your hard earned money from client projects with a Revolut Business account today.