You may have heard about Revolut from friends who live abroad. They talk about the sleek cards, the multi-currency app, and more.  

Now, Revolut is finally coming to India.

So what exactly is launching? Who is it meant for? And is it useful for freelancers or small businesses?

In this blog, we will break down what Revolut India offers, what we still don’t know, and other business alternatives for receiving international payments.

What is Revolut, and why do people use it?

Revolut is a global fintech company headquartered in London. It offers multi-currency accounts, cards, and digital banking services worldwide

Revolut typically lets you:

• Hold and exchange multiple currencies at competitive FX rates.

• Spend via physical and virtual cards online and offline.

• Send money domestically and internationally.

• Access extra features like budgeting, analytics, savings “vaults”.

Revolut currently operates in 40+ countries, serving 10 million customers, and has positioned itself as a super‑platform for money.

Revolut India: Here’s What’s confirmed and What’s expected

Revolut India has been launched currently with limited early access through a 350,000-member waitlist.

Here are the key features of Revolut India.

A Digital Wallet with UPI Support

Users can now create a Revolut wallet that complies with RBI regulations and integrates easily with UPI. For quick domestic transactions, you can even make your own @revolut UPI ID.

The Visa Card
Revolut's INR prepaid card is ready to use and can be fully managed in the app, whether you're shopping offline or buying groceries.

Multi-Currency Global Card

Revolut offers a special international Visa card compatible with over 100 currencies, with quick spend controls and real-time foreign exchange rates.

Features for Travel-Ready Spending
You can set daily limits, freeze or unfreeze your card with a tap, and receive alerts for every transaction.
The Revolut app tools are designed for use worldwide.

Smart Budgeting & Expense Analysis
The app tracks subscriptions, automatically organizes your spending into categories, and provides you with clear summaries of where your money is going.

Compliant Local Infrastructure
Revolut India is built to comply with RBI regulations and provide seamless, compliant operations using a localized tech stack with in country data storage.

Linked Accounts for Junior Accounts

Parents can open accounts for their children and teens, set spending limits, and monitor every transaction for supervised financial education.

Revolut India: What’s Not Here Yet for Business Users

While Revolut’s launch in India is exciting, it’s not entirely smooth sailing if you’re a freelancer or running a business. Here are a few things that still seem to be missing or unclear:

• No Business Accounts for Users in India
  Indian entities are not yet able to use Revolut Business. Indian freelancers and startups are currently excluded because it only supports businesses located in the UK, EEA, and a few other regions.

• Unclear FIRA/ FIRC/ e-BRC support
  Support for export documents like FIRA, FIRC, or e-BRC, which are essential for compliance, taxation, and audit readiness if you're receiving money from overseas, is not explicitly mentioned.

• Blurry Line Between Personal and Business Use
  Routing client payments through Revolut India creates concern because it is marketed as a personal finance app.
  It makes it difficult to distinguish between personal and business income, which can become problematic under FEMA regulations and audits.

• Waitlist and Feature Gaps
  Features are being released gradually, and access is still restricted to those on the waitlist.

• No Transparent Pricing for Receiving Client Payments
  Revolut India does not disclose India-specific pricing for receiving client payments, conducting FX conversions for exports, or settling INR into an Indian current account.