Revolut is an e-money institution platform that provides a wide range of banking and financial services through its mobile app and web platform. Launched in 2015, Revolut initially started as a service for managing multiple currencies but has since grown into a comprehensive financial platform used by millions of people globally.
Moreover, one of Revolut’s main features is its multi-currency accounts, which allow users to hold, exchange, and spend in various currencies at competitive exchange rates. This service is particularly popular among frequent travelers and those who need to manage money across different countries.
Beyond traditional banking services, Revolut also enables users to engage in cryptocurrency trading, stocks and comodities directly within the app.
In this article, we will uncover Revolut’ availability and expansion plans in Peru, as well as provide alternative solutions.
Is Revolut available in Peru?
Unfortunately, Revolut is not yet available in Peru and it’s currently available in 35 countries. According to their website, Revolut “You can open a Revolut account if you live in a country or overseas territory listed below: Australia, Brazil, European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, United Kingdom and United States”.
As the world of digital banking evolves, Peru residents looking for sophisticated and user-friendly banking platforms have a variety of options. Revolut has gained popularity in over 35 countries for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Revolut is not available in Peru.
This article explores the best Revolut alternatives accessible to Peru residents who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of Peru users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.
Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.
If you would like to read our full review of Revolut just click here!
Revolut Alternatives in Peru
In this section, we will be discussing 3 alternatives that share comparable features with Revolut in Peru:
- Yape
- B89
- Ligo
Yape
Yape is a widely used digital wallet app in Peru, developed by Banco de Crédito del Perú (BCP), offering simple and accessible payment solutions.
Known for its mobile-first approach, Yape allows users to make instant peer-to-peer transfers, pay for goods and services, and complete QR code payments with ease.
In addition to its digital wallet capabilities, Yape offers a prepaid debit card for personal users, enabling secure online and in-store purchases. This card allows users to manage their spending without a traditional bank account, providing financial flexibility to a broad audience in Peru.
However, if you still have doubts about Yape being the right fit for you, just click here and find out more!
B89
B89 is a neobank founded in 2019 and headquartered in Lima, Peru. As a digital banking platform, B89 offers a variety of financial services through its mobile app, including digital savings accounts.
Moreover, the bank aims to provide a user-friendly and accessible banking experience, catering primarily to tech-savvy consumers who prefer managing their finances online. B89 emphasizes features such as low fees, instant transactions, and innovative tools designed to enhance financial management.
Overall, B89 has positioned itself as a growing player in Peru’s fintech landscape. Its commitment to leveraging technology and focusing on customer satisfaction continues to drive its development and expansion in the digital banking sector.
However, if you still have doubts about B89 being the right fit for you, just click here and find out more!
Ligo
Ligo is a neobank founded in 2019 and headquartered in Lima, Peru. Operating as a fully digital banking platform, Ligo offers a variety of financial services through its mobile app, including digital savings accounts and payment solutions.
Moreover, Ligo aims to provide a convenient and user-friendly banking experience, targeting tech-savvy consumers who prefer managing their finances online. The platform emphasizes features such as low fees, quick transactions, and innovative tools that simplify everyday banking.
Overall, Ligo is steadily establishing itself in Peru’s fintech landscape. Its commitment to leveraging technology and focusing on customer satisfaction continues to drive its growth and popularity among Peruvian consumers seeking digital banking solutions.
However, if you still have doubts about Ligo being the right fit for you, just click here and find out more!
Final Thoughts
Although Revolut is not accessible in Peru, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.
Having said so, always remember that choosing the best digital bank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.
We hope we helped you in your search for the Best Alternatives for Revolut in Peru.
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.
