When deciding between Revolut and Lunar, it’s important to evaluate which features best align with your financial needs.
This comparison will highlight key differences, from mobile banking capabilities to specific benefits, helping you make an informed choice.
Revolut
Lunar
How do Revolut and Lunar compare?
Revolut and Lunar are two mobile banks that offer digital financial services to their customers. Both companies provide innovative features and user-friendly interfaces, allowing users to manage their finances on the go.
One of the main differences between Revolut and Lunar is their focus. Revolut is focused on providing international banking services, including multi-currency accounts, free overseas ATM withdrawals, and cryptocurrency trading and investment services. Lunar, on the other hand, is more geared towards Scandinavian residents and provides them with local banking services.
In terms of features, both Revolut and Lunar offer virtual and physical debit cards, mobile payments, and budgeting tools. However, Lunar differentiates itself by offering users a more personalized banking experience, with features like a personalized card design and access to exclusive discounts and events.
Another key difference between the two mobile banks is their pricing model. While both offer free basic accounts, Revolut charges for some premium services, such as unlimited foreign exchange and travel insurance. Lunar generates revenue through partnerships with retailers and by offering premium services such as travel insurance and premium cards for a fee.
Overall, both Revolut and Lunar offer unique digital banking solutions that appeal to different customer segments. Revolut may be more attractive to frequent travelers and those who frequently use foreign currencies, while Lunar may be a better fit for Scandinavian residents looking for a more personalized banking experience and local services.
Founded: 2015
Headquarters: London, UK
Users: +45 million
Countries available: 35
Account plans: 5 plan options
Go to Revolut
Founded: 2015
Headquarters: Copenhagen, Denmark
Users: +900,000 thousand
Countries available: 3
Account plans: 4 plan options
Go to Lunar
Other comparisons about Revolut and Lunar
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
Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.
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.