Revolut has designed a mobile application that offers the customers services traditionally provided by banks, but with enhanced user-experience and convenience. The company which was founded in 2015 sees itself as the financial tool that is up to speed with the developments in modern technology. “Because today’s hyper-connected world deserves a financial partner just as progressive. One that adapts to your needs, gives you control and constantly pushes you into new exciting spaces,” – Revolut advertises. The company offers undeniably competitive products like free international money transfers and fee-free global spending. Currently, the company has over 2 million users and has facilitated more than 150 million transactions, total value of which stands at 15 billion British pounds.
Revolut supports 5 cryptocurrencies including Bitcoin and Ethereum
With Revolut opening an account is easy and can be done within minutes. Once a customer opens an account, they will be able to use the services offered by the company. These services include money transfers in 24 currencies, setting up recurring payments, withdrawing money from ATMs and even getting health insurance. The wide array of Revolut’s products also includes cryptocurrencies. “Going through crypto exchanges can be time-consuming and complex, so we’ve cut out the fat, to give you instant exposure to cryptocurrencies at the touch of a button,” – says the company. Currently, there are five cryptocurrencies available on the platform including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and XRP.
Revolut offers different services based on the account types
There are three account types on the Revolut platform that give users different functionality. The standard account, which is free, allows the users to open a free UK current account and a free Euro IBAN account. Standard account holders are also able to spend their funds in 150 countries and exchange fiat currencies free of charge. Premium accounts cost 7.99 euros a month and in addition to the functionality offered by the standard account, also allow the users to get overseas medical insurance, delayed baggage and delayed flight insurance, access to cryptocurrencies, disposable virtual cards and use 24/7 customer service. The most expensive account type is called a Metal account and will cost the users 13.99 euros a month. Holders of the Metal account get exclusive concierge services, Revolut Metal card and up to 0.1% cashback within Europe and 1% cashback outside Europe on all card payments.