Revolut for Business is rolling out two free business accounts with no monthly subscription fees. The product releases come two years after the initial debut of Revolut for Business. Revolut says that more than 100,000 UK SMEs have already signed up to the service.

The new accounts will be available to all existing and new customers immediately. And says Revolut, it will enable SMEs to quickly expand and operate across different markets.

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The new business account plans are available to freelancers and corporates.

Revolut for Business introduces customisable model

Revolut for Business is also announcing changes to the pricing structure of the plans. Specifically, it is introducing a customisable model designed to provide more control and better value pricing regardless of a business’s size.

Revolut for Business users will be able to tailor the features of their plan according to their business needs. At the same time, customers can upgrade or downgrade their plans at any time.

James Gibson, Product Owner at Revolut for Business says: “We understand first-hand how frustrating it can be for ambitious entrepreneurial businesses to get the support they need to kick off their journey to success. Using our own experience, we’ve developed a brand new free offering.

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It will save our customers time, money and give them the flexibility and control they need to operate both locally and globally. Our businesses are the beating heart of the economy. We’re so excited to be able to do our bit to support them.”

Revolut for Business: current features include the ability to: 

  • Create instant multi-currency accounts
  • Issue physical and virtual corporate cards
  • Make and receive transfers in 28 currencies to pay suppliers or employees overseas without being penalised by poor exchange rates;
  • Add team members or accountants to their account
  • Set permissions and define payment approval flows
  • Integrate with popular apps such as Slack, Xero, FreeAgent and Zapier
  • Create bulk, scheduled and other complex payments, as well as automate payments through an API
  • Access 24/7 customer support

Revolut for Business is continuing to add further products and services to its offering. These include company-wide expense management and an end-to-end acquiring solution.