Revolut Business is a compelling product for multi-currency payments. The interface is clean, the onboarding is fast and the multi-currency accounts are useful. But, as is often the case with FX platforms, it can be hard to untangle how tiered pricing, usage limits, varying FX costs and other factors apply to businesses specifically.
If you’re trying to work out exactly what Revolut Business will cost your business, this article is for you.
All the numbers in this article are from Revolut’s own fee pages. We have assembled them in one place.
Important: Hedging products including forward contracts and FX options carry financial risk and may not be suitable for all businesses. Access is subject to eligibility and onboarding; seek independent financial advice if unsure whether hedging is right for you.
Spot FX
For everyday spot FX, Revolut Business’ FX fees are in line with the broader spot FX market. The platform uses the interbank rate during market hours, with fees structured as follows:
- Free FX exchange up to the monthly plan allowance (£1,000 on Basic, £15,000 on Grow, £60,000 on Scale)
- 0.6% fee on exchanges beyond the plan allowance
- 1% surcharge for exchanges outside market hours
Revolut Business also has limits on free international transfers, from zero on Basic to 25 on Scale. Above the limit, each transfer incurs a £5 fee. If you make 10 international transfers on the Grow plan, you’re already doubling your monthly account fee in transfer charges alone.
If you only dabble in FX markets, this might be suitable. But for those with more ambitious international plans, you might need to dip into off-plan rates sooner than would be ideal.
| Revolut Business | OFX | Alt21 | |||
|---|---|---|---|---|---|
| Basic | Grow | Scale | |||
| Monthly free allowance | £1,000 | £15,000 | £60,000 | Not published | No stated limit |
| Fee beyond allowance | 0.6% | 0.6% | 0.6% | Spread-based, not itemised | From 0.04%* |
| Free international transfers/month | 0 | 5 | 25 | Not published | No stated limit |
| Fee per transfer beyond allowance | £5 | £5 | £5 | Not published | No stated limit |
| Out-of-hours surcharge | 1% | 1% | 1% | Not published | None stated |
*volume dependent, please contact Alt21 for a personalised quote.
Revolut Business FX Forwards
Revolut Business offers forward contracts, available on Grow, Scale and Enterprise plans, which are restricted to UK-incorporated limited companies and PLCs. The fee structure is not that complicated, but there are some limitations and opportunity costs, compared to similar platforms, that you might want to be aware of.
Fee structure
Revolut has a two-tiered fee structure for its forward contract offering based on currency pairs. For pairs of the three core currencies of GBP, EUR and USD, you pay a flat fee of 0.8%.
For the additional eight currencies Revolut Business offers (CHF, CZK, DKK, HUF, NOK, PLN, RON or SEK), hedging costs double to 1.5%.
As we saw with its Spot FX fees, the picture here is a competitive core offering for companies with limited FX requirements supported by what could be seen as a relatively expensive non-core FX offering.
| Currency pair | Flat fee | Initial deposit | Cancellation fee |
|---|---|---|---|
| GBP/EUR, GBP/USD, EUR/USD | 0.8% | 5% | 0.8% + mark-to-market |
| Other available currencies (CHF, CZK, DKK, HUF, NOK, PLN, RON, SEK) | 1.5% | 10% | 1.5% + mark-to-market |
The deposit
Every forward contract on Revolut requires an upfront deposit: 5% for GBP/EUR/USD pairs, 10% for all others. On a £500,000 contract, that is £25,000 or £50,000 sitting idle until settlement. For a business running several concurrent forwards across different currencies and time horizons, the aggregate capital tied up can be substantial.
A deposit is not a fee – you get it back at settlement. But it is working capital that is unavailable for the duration of the contract, and at current interest rates that carries a real opportunity cost.
The cancellation fee
If a forward needs to be closed early, the full fee applies again: 0.8% or 1.5% depending on the currency pair, plus any mark-to-market difference. Revolut is explicit that the mark-to-market charge may be significant depending on how far the market has moved.
| Revolut Business | ||
|---|---|---|
| Core pairs(GBP/EUR/USD) | Non-core pairs | |
| Fee | 0.8% | 1.5% |
| Deposit required | 5% | 10% |
| Cancellation fee | 0.8% + mark-to-market | 1.5% + mark-to-market |
| Currencies available | 3 | 8 |
| FX options available | No | No |
| Plan required | Grow, Scale or Enterprise | Grow, Scale or Enterprise |
The cost of missing upside
The currency ceiling
Revolut’s forwards cover 11 currencies in total, which is on the lower end compared to the broader market. For a company actively managing its international footprint, the currencies available on Revolut’s hedging product might become a constraint on where it can operate with financial certainty.
No FX Options
Revolut Business does not offer FX options. The practical consequence is less obvious than a fee line but potentially more costly.
A forward contract locks your rate. If the market moves against you, your exchange rate is fixed at the agreed level. But if the market moves in your favour, you can’t benefit. You’re committed to the rate you booked regardless of spot market fluctuations at the time of settlement.
It’s important to note that whilst a rate may be fixed at an agreed level, it’s never totally risk free and other risks remain including counterparty risk or risk the underlying commercial transaction does not proceed.
An FX option gives you the right, but not the obligation, to exchange at the agreed rate. You pay a small premium for that right. If the rate moves against you, you exercise the option. If it moves in your favour, you let it lapse and take the better market rate. The premium is the cost of keeping that door open.
But it’s important to remember, the premium is paid upfront and is non-refundable regardless of whether the option is exercised.
For a business managing FX exposure across multiple currencies and time horizons, the cumulative value of that flexibility is real.
What Revolut Business’ FX fees fees look like at volume
The table below shows what Revolut Business forward contracts cost across three annual volume tiers, using Revolut’s own published fee rates. Deposit figures reflect capital tied up assuming quarterly contracts distributed evenly across the year.
| Core currencies (GBP/EUR/USD) | Non-core currencies (CHF, CZK, DKK, HUF, NOK, PLN, RON, SEK) | |||
|---|---|---|---|---|
| Fee (0.8%) | Deposit tied up (5%) | Fee (1.5%) | Deposit tied up (10%) | |
| £500,000 | £4,000 | £25,000 | £7,500 | £50,000 |
| £1,000,000 | £8,000 | £50,000 | £15,000 | £100,000 |
| £5,000,000 | £40,000 | £250,000 | £75,000 | £500,000 |
Source: Revolut Business fee schedules, November 2025.
The deposit column is the less visible cost. At £250,000 tied up on a £5M core-currency programme, or £500,000 on a non-core programme of the same size, the working capital impact compounds across every concurrent contract in your book.
Has your business outgrown Revolut Business?
Revolut Business is a payments and banking product. It does a lot of things well: multi-currency accounts, cards, integrations, day-to-day international banking. The forward contracts are a useful addition to that offering.
But the product has a ceiling. Here’s how to tell if you might bump into it sooner rather than later.
The currency trigger
A business starts trading with a new market outside GBP, EUR and USD. The moment CHF, CZK, NOK or any non-core currency enters the picture, Revolut’s forward costs nearly double and the deposit jumps to 10%. This can introduce additional cost, complexity and operational friction at the very point a business is looking to expand into new markets and move with agility.
This is not an edge case scenario: companies with significant relationships in the Nordics or Switzerland, Asia or Canada will have to contend with higher rates.
The volume trigger
A business starts hitting its spot FX allowance ceiling. The Scale plan gives £60,000 per month free, which sounds generous until you are paying a German supplier €50,000 and a Swedish one SEK 200,000 in the same month. The 0.6% overage fee starts to erode the the low-cost positioning starts to erode.
The hedging sophistication trigger
A business moves from occasional rate-locking to actively managing FX risk across multiple currencies and time horizons. At that point, forwards-only can be limiting. Options give you the chance to benefit from favourable market movements. Without structured products, tailor protection to a specific exposure profile becomes more difficult. The toolkit may prove only sufficient to a point for businesses that have more complex hedging requirements.
stops where the need begins.
The planning horizon trigger
A business is quoting future prices in GBP while revenue arrives in foreign currencies. The moment your margins depend on a rate you assumed when you wrote the quote, you need more than a payment platform. You need a hedging strategy, and a platform capable of executing it.
If any of these sound familiar, the question is no longer whether Revolut Business is good at what it does. It clearly is. The question is whether it is the right tool for where your business is now.
Revolut Business alternatives for FX hedging
There is a natural point in a business’s growth where the constraints of a payments-first platform become a strategic problem rather than a pricing one. The main Revolut Business alternatives for UK companies with genuine hedging capability sit in three distinct categories.
Alt21: built to make hedging easy for businesses
Alt21 is an FCA dual-regulated specialist FX platform built specifically around hedging. Where Revolut Business treats forwards as a plan feature, Alt21 treats hedging as the core product, with payments built around it.
The platform offers spot FX, forward contracts, FX options and structured products including participating forwards. It covers 31 currencies for forwards, with pricing shown in full before you confirm each transaction. There is no minimum volume requirement and no plan structure to navigate before you can access the hedging tools.
For finance teams that want full visibility and self-service control over their FX risk, without the overhead of a relationship-managed enterprise product, Alt21 is built for that use case. The platform also supports multi-level payment authorisation and integrates with accounting software and ERPs via API.
Key features:
- Spot FX, forwards and FX options
- Structured products including participating forwards
- Cross-border invoicing
- Interest on cash balances
- 31 currencies
- Full pricing transparency before each transaction
- No minimum volume
- Multi-level payment authorisation
- FCA regulated
Ebury: for larger businesses who need bespoke hedging strategies
Ebury is an FX and payments platform with a comprehensive hedging suite: fixed forwards, window forwards, flexible forwards, FX options and non-deliverable forwards (NDFs) for emerging market currencies. Forward contracts are available across 60+ currencies and for tenors of up to ten years.
The Ebury model is built around a combination of technology and dedicated relationship management. Each client works with a relationship manager who helps design and implement a hedging strategy. For businesses with complex, multi-currency exposure, that guidance can be valuable. For businesses that want a clean self-service platform without that engagement overhead, it may feel like more than they need.
Ebury is FCA-regulated and serves businesses of various sizes, though the service model tends to suit mid-market and larger businesses with meaningful FX volumes.
Key features:
- Full hedging suite: forwards, options, NDFs
- 60+ currencies
- Forwards up to ten years
- Dedicated relationship managers
- Line of credit options
- FCA regulated
OFX: Forwards with broader currency coverage
OFX is an established international payments provider that offers forward contracts and limit orders alongside spot FX. It covers 30+ currencies, which is a meaningfully wider range than Revolut’s 11 for forwards. It also offers 24/7 phone and email support, which is a practical advantage over Revolut’s in-app chat for businesses that need to act quickly on market movements.
The hedging capability is limited to forwards. Like Revolut, OFX does not offer FX options. Pricing is spread-based rather than itemised as a flat fee, which means the true cost of any given transaction is not shown as a discrete line. For businesses that want full transparency on what they are paying, this is worth noting.
OFX is best understood as a step up from Revolut on currency coverage and support, rather than a step up in hedging sophistication. If forwards are sufficient and broader currency access is the primary need, OFX is worth considering. If your requirements extend to options or structured products, it might not be the right fit.
Key features:
- Spot FX and forward contracts
- 30+ currencies, 170+ countries
- Limit orders
- 24/7 phone and email support
- Accounting software integrations
- FCA regulated
Bound
Bound is a hedging-first, self-service FX platform that offers forwards, limit orders and averaging as well as spot FX. It does not offer FX options. Customers can hold balances in more than 36 currencies. Its automated hedging strategies run in the background, aiming to make FX risk management painless for mid-sized companies and start-ups.
There’s no set-up fee; as with Alt21, Bound takes it cut from transactions. For hedging, Bound’s fees start at 0.45% with a 5% margin deposit ($0-20m volumes), which decrease with additional volume.
Bound has human support staff as well as “Hedgewick”, an AI FX co-pilot (strictly not an advisor). Through ERP integrations, its platform syncs with Xero, NetSuite and QuickBooks. A relatively streamlined offering, Bound is missing a few value-add services like interest on cash deposits and cross-border invoicing.
Key features:
- Automated hedging
- ERP integrations
- Transparent pricing
- Flexible Contracts
- AI Co-pilot “Hedgewick”
- Rapid onboarding
Choosing the right alternative
The right provider depends on where your business sits on its FX journey. OFX suits businesses that need forwards across a wider range of currencies than Revolut offers, but do not yet need options or a structured hedging strategy. Alt21 suits businesses and finance teams that want a full hedging toolkit with self-service control and full pricing visibility. Bound is a streamlined, hedging-first FX platform. Ebury suits businesses with complex multi-currency exposure and a preference for specialist support.
All four treat hedging as a core product; with Revolut Business, it’s more like a feature.
Ready to go beyond spot FX? Get started with Alt21 and access forward contracts, FX options and hedging tools.
Disclaimer: This article is produced by Alt21 Limited for information purposes only. It does not constitute financial advice or a personal recommendation. FX hedging products, including forward contracts and FX options, carry risk. The value of contracts can move against you, and you may lose money. All clients must complete Alt21’s onboarding process and accept our terms and conditions before accessing any products or services. Fee information is based on publicly available provider documentation as of the date of this article and is subject to change. Always verify current pricing directly with the relevant provider before making any decision. Alt21 Limited is authorised and regulated by the Financial Conduct Authority FRN 783837 and is a company registered in England and Wales number 10723112. The registered office is 45 Eagle Street, London WC1R 4FS, United Kingdom.
Important: Hedging products including forward contracts and FX options carry financial risk and may not be suitable for all businesses. Access is subject to eligibility and onboarding; seek independent financial advice if unsure whether hedging is right for you.
References
https://www.revolut.com/business/fx-forwards/
https://www.revolut.com/legal/business-standard-fees/
https://ebury.com/en-gb/products/hedge/forward-contracts
https://bound.co
https://www.ofx.com/en-au/faqs/what-is-the-customer-rate/
