As an international student I’ve taken great advantage of Revolut and have saved thousands of pounds by using them rather than the the traditional banks, or even TransferWise. Revolut has become my main bank as it is the bank where my pay check goes in and from where I pay my bills. While in the US, I use my Revolut card to pay for everything from groceries, broadband, electricity and rent. I’m also lucky enough to be able to pay my rent with Apple Pay.
Despite saving me thousands on exchange fees there are a few drawbacks by using Revolut. Although I can receive (some) local NOK payments, outgoing payments has to be sent by IBAN/SWIFT. Which means that although it is not impossible, it is hard for me to pay my local Norwegian bills from Revolut (phone and credit card). I would have to ask for the IBAN/SWIFT number instead of the local account number you are usually given. Also, although I have a local NOK account, it is not in my name. This means that I can’t receive my student loan or tax back directly to Revolut as they only pay out the money to an account in my name. In order for me to be able to close my traditional Norwegian acccount; The Revolut account would be in my name and Revolut would support local outgoing transfers. Until that happens, I will still have an account with a tradtional Norwegian bank.
The only reason why I have my bank account with Chase is that neither TransferWise or Revolut offers ACH-withdrawals which is required in order to for the bank to work with Venmo. Paying my tuition with an ACH-withdrawl is also free compared to the 4% cost it would be if I were to pay it with my card. Being able to deposit cash into my account and using the card with American iTunes Store is an added benefit, but one that can easily be avoided by just buying an iTunes Gift Card on sale add reducing the ammount of cash you have.
EDIT: As an added bonus being on the Revolut Metal-plan gives me 1% cashback on every purchase outside of Europe. When I pay for mostly everything in the US with my Revolut card, the cashback quickly adds up and the expense of the plan is quickly paid for.