Plaid vs Revolut
A comprehensive comparison to help you decide if Revolut is the right EU alternative to Plaid for your needs.
Plaid
Financial infrastructure platform connecting apps to users bank accounts for payments and data access.
Revolut
Revolut is a financial app that allows users to manage their money seamlessly across multiple currencies. It offers features such as currency exchange, spending analytics, and budgeting tools. Users can also access global payment services, cryptocurrency trading, and virtual or physical debit cards for secure transactions.
Our Verdict
Why choose Revolut
- +Revolut offers multi-currency accounts with 30+ currencies available.
- +Instant transfers between Revolut users are free and immediate.
- +Revolut provides crypto trading for 5 cryptocurrencies, including Bitcoin.
- +Budgeting tools in Revolut allow tracking spending by category in real-time.
Things to consider
- -Migration may require manual data transfer, causing potential data loss.
- -Revolut lacks direct bank connection APIs like Plaid's account verification.
- -Learning curve for new budgeting tools may delay initial usage.
Privacy Winner: Revolut
Your data stays in the EU and is protected under GDPR, free from US CLOUD Act access.
Feature Comparison
Plaid
🇺🇸Plaid Inc.
Revolut
🌍Revolut Ltd
US Data Storage
Data subject to US CLOUD Act and may be accessed by US authorities
EU Data Protection
Data protected under GDPR with EU-only data residency
Certifications & Compliance
No certifications listed
Reasons to Switch
- ✓Revolut offers multi-currency accounts with 30+ currencies available.
- ✓Instant transfers between Revolut users are free and immediate.
- ✓Revolut provides crypto trading for 5 cryptocurrencies, including Bitcoin.
- ✓Budgeting tools in Revolut allow tracking spending by category in real-time.
Things to Consider
- !Migration may require manual data transfer, causing potential data loss.
- !Revolut lacks direct bank connection APIs like Plaid's account verification.
- !Learning curve for new budgeting tools may delay initial usage.
Frequently Asked Questions
Is Revolut a good replacement for Plaid?
Yes, Revolut is a GDPR-compliant European alternative to Plaid. It offers similar functionality while ensuring your data stays within EU jurisdiction and is protected under strict European privacy laws.
Is Revolut GDPR compliant?
Yes, Revolut is a European company that fully complies with GDPR regulations. Your data is stored in EU data centers and is not subject to US surveillance laws like the CLOUD Act.
How much does Revolut cost?
Revolut offers freemium pricing. Visit their website for current pricing details and to compare plans based on your specific needs.
Where is my data stored with Revolut?
Revolut stores data in EU data centers, ensuring compliance with European data protection regulations and keeping your information within EU jurisdiction.
Other EU alternatives to Plaid
Ready to make the switch to Revolut?
Take control of your data privacy by switching to an EU-based alternative.