Getting Tech Savvy With Revolut

Over the past few years, technology has brought a significant revolution to every industry, including financial services. Ever since the pandemic hit the world, many banks and organizations have transformed toward digitalization. The banking and financial businesses are taking great benefits from the rapid advancement of technology. Similarly, the customers are also enjoying a great deal of modern technology. For instance, people can easily track their payments, pay their bills and manage expenses from the comfort of their homes. This is where technology and finance together can help you with a better customer experience. When you are smart with money and use of technology, you are ready to save, invest and grow your money.

In today’s era, Financial Technology (say: FinTech) has made it possible to manage your finances without ever stepping foot outside your home. Several mobile apps will track your balance and expenses, as well as your transactions and bills, and provide you with financial support. These apps make your life become less stressful and help you improve your financial life in the long run.

What We Recommend?

There are many different types of fintech apps in the market, but we recommend you choose Revolut, one of the industry`s key players. Launched in the UK in July 2015, Revolut has been a crowd-pleaser app, reaching 20 million retail customers globally within seven years. The app mainly offers money transfer and exchange, including user-friendly features such as On-Demand Pay, peer-to-peer payments, Saving Vaults, Cards, and Trading.

Opening A Revolut Account

Revolut has a user-friendly interface and allows you to open an online account in the span of a few minutes. The best part is that you don’t have to visit any bank or complete lengthy paperwork. Revolut has high ratings on both iOS App Store and Google Play because of its features. You just have to download the app and register your phone number. You will be further required to set a password and verify a 6-digit code sent to your phone. Next, enter your details, including name, date of birth, address, and email. Finally, you will be asked to make an initial deposit through your bank details for your account to be initiated. Provide your picture and a snap of your passport, and you are done.

Revolut Account Types

Revolut offers different types of accounts for personal users: Standard, Plus, Premium, and Metal.

- The Standard account is free of cost, which allows you to manage your expenses with budgeting and analytics, transfer money, spend in the local currency, and much more.

- Plus is placed between Standard and Premium accounts with an affordable fee of £2.99 per month. However, it offers more features than a Standard account, including £200 of free ATM withdrawals per month and charging 2% after that. In addition, you can enjoy other perks such as £1,000 purchase protection and event ticket reimbursements.

- Premium costs £6.99 per month with an ATM limit of £400. You can also avail insurances, express card delivery, and disposable virtual cards, among other perks.

- Metal is the most expensive plan offered at £12.99 per month, allowing you to enjoy unlimited extra benefits and rewards. It provides a free 18-gram solid reinforced steel Metal card to its users. The main charm of this plan is 1% cash back on every purchase made in any of the 30+ supported countries. It is a 12-month subscription plan, meaning you either need to pay beforehand for the 12 months or save 20%. Otherwise, you can pay the regular fee per month for 12 months.

Investment With Revolut

Are you planning to invest? Revolut has it sorted out for you. Aside from payments and shopping, Revolut offers its customers other benefits. With Revolut, you can invest in Cryptocurrency, Stocks and Commodities according to your chosen plan and region. If you plan on trading regularly, we recommend you choose the Metal plan as it gives you a chance to invest more at lower rates.

Key Takeaway

To sum it up, Fintech apps like Revolut help you monitor your financial health regularly and achieve your saving goals. Gone are the days when you had to wait in a long queue to pay your bills. Staying tech-savvy with the Revolut app would not only save your time and energy. You will learn a ton of ways how to save and invest your money.