Is Revolut Available In Canada?

Unfortunately, Revolut suspended its operations in Canada. For other financial super apps or global money transfer apps in Canada, check out this post.

Updated: Jan 20, 2024

Revolut Canada Review

Unfortunately, Revolut suspended its operations in Canada in March 2021. Canadians can still download Revolut from the App Stores but will not be able to create an account.

Here is their list of supported countries if you want to check it out. If you're a Canadian looking for similar Revolut features, Wealthsimple and Neo Financial are Canada's top fintech apps. Keep reading to learn more.

Top 3 Alternatives

Wealthsimple

 Closest Revolut Alternative in Canada

  • Similar Revolut features
  • Trade stocks, ETFs & more
  • 2.5M+ Canadians
  • Canada-to-Canada payments
  • Cash card and more
KuCoin

Best for Sending Money Across Borders

  • Send money to Canada
  • Send money to USA
  • Cheapest way to exchange CAD and USD currency
  • No monthly account fees
  • Great exchange rates
Newton.co

The Modern Way to Spend, Save, Invest

  • Credit card, HISA, and more
  • Up to 15% cashback on first-time purchases and an average 5% cashback
  • 1.0M+ Canadians
  • Sign up in 3 minutes

Why Did Revolut Pull Out Of Canada?

In March 2021, Revolut Canada suspended its operations due to a lack of "resources". While they said they hope to return to Canada, there haven't been any official announcements or plans to do so.

Who Can Open A Revolut Account?

According to the official list of supported countries, Revolut is available in 35 countries including the United States and most of Europe. Unfortunately, Canada is not on the list.

What Is Revolut?

Revolut is a UK-based financial super app with features like peer-to-peer (P2P) payments, debit cards, banking services, stock trading, crypto, and more. Their website says "one app, all things money" and they have over 20 million customers worldwide.

Wealthsimple and Neo Financial are the most similar all-in-one finance apps for Canadians, both of which have over 1 million users.

Revolut's Best Features

  • P2P Payments. Transfer money and split bills with anyone in 200+ countries.
  • Savings. Earn up to 1.95% annual interest, paid daily.
  • Investments. Invest in stocks, cryptocurrencies, gold, and silver with as little as $1.
  • Cashback Rewards. Use the Revolut Card to earn up to 30% cashback, plus discounts, and more.
  • And Much More. Spending insights, travel rewards, crypto learn and earn programs, subscription management, easy donations, and more.

Revolut Alternatives for Canadians

While Canada has a lot modern fintech apps, there's nothing quite like Revolut which offers everything finance under one roof. However, there are still great fintech apps in Canada. Whether you're looking for peer-to-peer payments, investments, a bank account, or a super-app, check out these Revolut alternatives. All are free to use with no minimum balance.

1. Wealthsimple

Wealthsimple Website

If you haven't heard of Wealthsimple, it's Canada's most financial app. Trusted by over 2.5 million Canadians, it offers stock trading and ETFs, cryptocurrencies, a Visa debit card, P2P payments within Canada, and more. With all these features, it is the closest thing Canada has to Revolut.

Wealthsimple has generally low fees, but it can get expensive in some spots like U.S. stock trading and crypto purchases. However, most of its tools are free and fees aside, it's one of Canada's best all-in-one finance platforms for beginners.

2. Neo Financial™

Neo Financial Banner

Neo Financial™ is a fintech company trusted by over 1 million Canadians. Like Revolut, they offer a variety of financial services, including a rewards credit card, high-interest savings account, robo-investing, private wealth management, and more.

The Neo Card™ helps Canadians earn rewards on their everyday purchases. It has no monthly or annual fees and users can earn up to 15% cashback¹ on first-time purchases and an overall average of 5% cashback¹ from over 10,000 participating merchants.

Card issued by ATB Financial pursuant to license by Mastercard International Inc.

¹Average based on current offers at select partners. Cashback may be limited and varies per bundle, offer, and partner.

3. Wise.com

Wise

If you want to open bank accounts in multiple currencies for free and send and receive money abroad, Wise.com is the best app to do that. It's quick, easy and most importantly, low cost. You can open bank accounts in the US, Canada, and many other currencies in seconds and actually get the real exchange rate, unlike other places.

Wise has grown to over 10 million users and the currency exchange rate it offers is very good compared to expensive platforms like banks or PayPal. It's also free to sign up and charges no monthly account fees. Whether you want to transfer funds from Canada to the US, Australia, Europe, or vice versa, Wise is a quick, low-cost way to send major currencies.

4. Newton

Newton Website

Revolut introduced cryptocurrency trading for over 90+ tokens. If you want to buy and sell 75+ coins in Canada with low fees (hidden fees included), Newton is our a popular crypto exchange in Canada. With 500,000 users, a great app, and low fees, it's a great choice.

However, the crypto exchange that's best for you will depend on factors like 1) what coins you want to buy, 2) what kind of trader you are, 3) what features you need, and more. To learn more about crypto exchanges in Canada, visit our crypto exchange comparison page. 


Revolut FAQ

What Countries Is Revolut Available In?

Revolut is supported in over 35 countries including the United Kingdom, United States, Australia, Singapore, Switzerland, Japan, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

What Is The Best Revolut Alternative for Canadians?

Wealthsimple is the most similar financial super app for Canadians.

When Is Revolut Coming To Canada?

Revolut said they plan to relaunch in Canada in 2022, but that obviously didn't happen. There is no official date or plan for them to make a return yet.

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