Personal Finance · head to head
Revolut vs Square
Revolut
Personal Finance
Multi-currency financial app operating as a licensed bank in parts of the EU and as an e-money institution elsewhere
- From
- Free
- Rated
- -
The short version
- Each has a real cost: Revolut uK customer balances have historically been held under an e-money institution licence, meaning they are not covered by the Financial Services Compensation Scheme the way a traditional UK bank deposit is, even though Revolut was granted a restricted UK banking licence in 2024.; Square plus plan pricing not specified in documentation
- They diverge on capability: Revolut covers Multi-currency accounts, Square covers Payment processing.
- Prices and features above were last checked on 1 September 2026.
Where they differ
Only the attributes on which Revolut and Square actually diverge.
Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Revolut
- Multi-currency accounts
- Revolut Bank EEA deposits
- Stock, crypto and commodity trading
- Budgeting and spending analytics
- Virtual and disposable cards
- Business accounts (Revolut Business)
Only in Square
- Payment processing
- Point of sale
- Invoicing
- Payroll
- Banking
- QuickBooks
- WooCommerce
- Wix
What people use each for
The jobs each tool is most often brought in to do.
Revolut
- Someone travelling or living across multiple currencies who wants low-cost exchange and spending in one accountnot Square
- A user in the EEA who wants their balance held with a licensed bank covered by a deposit guarantee schemenot Square
- A UK-based user who understands their balance sits under e-money safeguarding rather than FSCS bank protection, and is comfortable with thatnot Square
- An investor wanting stock or crypto trading integrated with everyday spending in a single appnot Square
Square
- Accept payments with all-in-one POS applicationnot Revolut
- Online ordering and basic website creationnot Revolut
- Invoicing and appointment bookingnot Revolut
- Staff scheduling and loyalty programmesnot Revolut
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Revolut
- UK customer balances have historically been held under an e-money institution licence, meaning they are not covered by the Financial Services Compensation Scheme the way a traditional UK bank deposit is, even though Revolut was granted a restricted UK banking licence in 2024.
- Regulatory status differs by country of use, EEA versus UK versus other markets, so the actual protection on a given balance depends on where the account is domiciled, not on the brand alone.
- Customer service has been a recurring complaint, with account freezes for fraud checks sometimes leaving customers unable to access funds for extended periods with limited direct human contact.
- The free tier caps fee-free currency exchange at a monthly allowance, after which a fair usage fee applies, so heavy multi-currency users may need a paid plan to avoid extra charges.
- The breadth of features, banking, trading, crypto and business accounts, spans multiple regulatory regimes and legal entities, which makes the overall structure harder for a typical customer to fully understand than a single-licence traditional bank.
Square
- Plus plan pricing not specified in documentation
- Processing fees differ by tier but exact rates not detailed
- Free plan pricing mentioned but specific features for Plus unclear
- Text marketing charged at 3¢ per message after first 500 included
Pricing, plan by plan
Revolut
Free- StandardFree
- Free multi-currency spending up to a monthly exchange allowance
- Basic budgeting tools
- UK balances held under e-money safeguarding, not FSCS-protected as a standard bank deposit
- Premium$7.99/month
- Higher free exchange allowance
- Travel insurance and card delivery perks
- Priority customer support
- Metal$14.99/month
- Cashback on card spending
- Higher limits across features
- Metal card and additional insurance cover
Square
Free- FreeFree
- Accept payments with all-in-one POS app
- Online site builder (ordering profiles, basic websites, online stores, booking sites)
- Item library and inventory tracking
- Plus$null/mo
- All Free plan features
- Advanced POS features for food, retail, and appointments
- Lower processing fees on card transactions
Which should you pick?
Choose Revolut if
- You need multi-currency accounts.
- You want to start without paying.
- You work on iOS, Android, Web.
- You also want revolut bank eea deposits.
Choose Square if
- You need payment processing.
- You want to start without paying.
- You work on POS (Mobile app), Web.
- You also want point of sale.
Questions people ask
- Is Revolut or Square better?
- Neither clearly leads. Revolut starts at Free and Square at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Revolut or Square?
- Revolut starts at Free and Square at Free.
- Does Revolut or Square run on more platforms?
- Revolut runs on iOS, Android, Web. Square runs on POS (Mobile app), Web.
- Can I use Revolut for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is Revolut best used for?
- Revolut is most often used for someone travelling or living across multiple currencies who wants low-cost exchange and spending in one account, a user in the eea who wants their balance held with a licensed bank covered by a deposit guarantee scheme, a uk-based user who understands their balance sits under e-money safeguarding rather than fscs bank protection, and is comfortable with that, an investor wanting stock or crypto trading integrated with everyday spending in a single app. Of those, someone travelling or living across multiple currencies who wants low-cost exchange and spending in one account and a user in the eea who wants their balance held with a licensed bank covered by a deposit guarantee scheme are not what Square is typically brought in for.
- What can Revolut do that Square cannot?
- Revolut covers Multi-currency accounts, Revolut Bank EEA deposits, Stock, crypto and commodity trading, Budgeting and spending analytics. Square covers Payment processing, Point of sale, Invoicing, Payroll.
Answered from the vendors’ own pages
Revolut: Is my money safe with Revolut?
It depends on your country. EEA balances are held with a Lithuanian-licensed bank and generally covered by deposit guarantee up to 100,000 euro; UK balances have historically sat under e-money safeguarding rather than FSCS bank protection, though Revolut has been working toward full UK banking status since gaining a restricted licence in 2024.
Square: Does Square offer a free plan?
Yes, Square's free plan includes an all-in-one POS app, online site builder, item library and inventory tracking, invoicing, appointment scheduling, staff calendars, and checking and savings account access. No subscription fees are charged.
SourceRevolut: Is Revolut a bank?
In the EEA, yes, through Revolut Bank UAB, licensed in Lithuania. In the UK, it has historically operated as an e-money institution and was granted a restricted banking licence in 2024, with full UK banking status pending completion of a mobilisation period.
Square: What does Square Plus add compared to the free plan?
Square Plus adds advanced POS features for food and retail, lower processing fees on card transactions, custom loyalty programs, unlimited email marketing campaigns, text messaging, and staff scheduling and attendance tracking.
SourceRevolut: Does Revolut charge for currency exchange?
Exchange is free up to a monthly allowance on the standard tier, after which a fair usage fee applies; paid plans raise or remove that allowance.
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