👉 Unfortunately, Revolut suspended its operations in Canada in March 2021. Canadians can still download Revolut from the App Stores but will not able to create an account.
Here is their list of supported countries if you want to check it out.
Is Revolut Coming Back To Canada?
In March 2021, Revolut suspended its Canadian operations and said they will try to return to Canada in 2022 with more resources. However, I haven't found any recent announcements this year. With 2022 coming close to an end, it doesn't look like Revolut will relaunch in Canada soon.
Hello! We very much appreciate the loyalty of our customers but with great regret we are closing our Canadian operations for the time being. We hope in the future we’ll be able to return to Canada – offering the full suite of Revolut services.
— Revolut (@RevolutApp) March 15, 2021
What Is Revolut?
With over 20 million users in 30+ countries, Revolut is a FinTech unicorn out of the United Kingdom. Their website says "one app, all things money." They offer tons of financial tools like peer-to-peer (P2P) payments, debit cards, savings accounts, stock trading, crypto, and more.
Revolut's Best Features
Revolut Alternatives for Canadians
If you haven't heard of Wealthsimple, it is probably Canada's #1 financial super app. Trusted by over 2.5 million Canadians, it offers stock trading and ETFs, cryptocurrencies, a prepaid Visa card, P2P payments within Canada, and more. With all these features and more, it is the closest thing Canada has to Revolut.
Wealthsimple has generally low fees, but it can get expensive in some areas like U.S. stock trading and crypto purchases which is something to keep in mind. However, most of it's tool are free and fees aside, it's an amazing all-in-one financial platform for Canadians.
If you want to send money abroad, Wise.com is my favourite money transfer app that's quick, easy, and affordable. You can open bank accounts in the US, Canada, and many other currencies allowing you to send and receive bank transfers like a local in many countries.
Wise has grown to over 10 million users and the currency exchange rates it offers are really 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 send funds from Canada to the US, Australia, Europe, or vice versa, Wise is a quick, low-cost way to do it.
Revolut introduced cryptocurrency purchases for over 90+ tokens. If you want to buy and sell 75+ coins in Canada with low fees (hidden fees included), Newton is our best overall exchange for the majority of Canadians. 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.
🌐 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 Are The Best Revolut Alternatives for Canadians?
Wealthsimple is the most similar financial super app for Canadians.