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 Russia, as well as provide alternative solutions.
Is Revolut available in Russia?
Unfortunately, Revolut is not yet available in Russia 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, Russian 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 Russia.
This article explores the best Revolut alternatives accessible to Russian 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 Russian 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 Russia
In this section, we will be discussing 3 alternatives that share comparable features with Revolut in Russia:
- Tinkoff Bank
- Simbank
- Tabys
Tinkoff Bank
Tinkoff is a leading Russian neobank founded in 2006 and headquartered in Moscow. Operating entirely online, Tinkoff has established itself as a pioneer in digital banking by offering a wide range of financial services to consumers and businesses without the need for physical branches.
Moreover, the bank’s offerings include personal and business accounts, credit cards, loans, investment products, insurance, and innovative financial management tools, all accessible through its user-friendly mobile app and online platform. Tinkoff is known for its focus on technology and customer experience, providing features such as budgeting tools, cashback rewards, and personalized financial insights.
Overall, the bank emphasizes convenience, security, and transparency, making it an attractive choice for tech-savvy individuals looking for modern banking solutions. Tinkoff’s mission is to provide accessible and comprehensive financial services, positioning itself as a trusted partner in the digital banking landscape of Russia.
However, if you still have doubts about Tinkoff Bank being the right fit for you, just click here and find out more!
Simbank
Simbank is a neobank based in Kyrgyzstan, launched in September 2024 by Fintech Farm in collaboration with Doscredobank.
This innovative digital bank aims to revolutionize banking in Kyrgyzstan and Russia by providing services primarily through its mobile application, eliminating the need for physical branches.
Overall, the bank is focused on delivering a user-friendly, digital-first banking experience, similar to other successful neobanks around the world. By leveraging technology, Simbank aims to make banking more accessible and convenient for its customers.
However, if you still have doubts about Simbank being the right fit for you, just click here and find out more!
Tabys
Tabys is a neobank based in Kazakhstan that aims to provide modern banking solutions tailored for the younger generation and those seeking user-friendly digital services.
This innovative platform focuses on delivering a range of financial services, including account management, seamless payment processing, and tools designed to enhance financial literacy and engagement.
As a neobank, Tabys operates primarily online, eliminating the need for physical branches and allowing customers to manage their finances conveniently through a mobile app or website.
However, if you still have doubts about Tabys being the right fit for you, just click here and find out more!
Final Thoughts
Although Revolut is not accessible in Russia, 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 Russia.
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.
