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
Closest Revolut Alternative in Canada
Best for Sending Money Across Borders
The Modern Way to Spend, Save, Invest
Why Did Revolut Pull Out Of Canada?
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
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.
Revolut's Best Features
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.
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™ 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.
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.
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.
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.