More Revolut Changes

Financial Chat Fintech Chat
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Following on from the thread over on FTT regarding disposable, virtual cards, it looks like Revolut are going to be offering more of their premium features to standard users.
I received this email earlier today:

Hey XXXX,

Great news, our Cryptocurrencies feature is now available for Revolut Standard users. We’ll also be making our Gold feature available to Standard customers later in April, so keep an eye out.

Here’s a little background

During a recent presentation, our Head of Crypto, Edward Cooper, reminded us that cryptocurrencies came about as an alternative to real money during the times of quantitative easing and currency devaluation following the 2008 financial crisis. Given the recent economic upset, we are starting to see quantitative easing and currency devaluation happening again right now.

We had planned to make this official later this year, but in light of recent events, we’ve decided to give all Revolut customers the opportunity to explore different ways of diversifying, including through crypto, right now. Plus, we’ll be inviting Standard users to explore our Gold feature later in April.

By the way, if you’d like to read about quantitative easing, the Bank of England has a page all about it.

Pricing for Crypto on Standard

For now, we’ll keep our Crypto pricing exactly the same for Standard customers as it is for Premium and Metal users. This means a 1.5% flat fee per trade for everyone, so that you can have a chance to try it out. In May, this flat fee will increase to 2.5% per trade for all Standard users (but stay the same for Premium and Metal users).

If you’d like to try our Crypto feature out now, head to the Revolut app, tap your main balance, tap “+ New” and choose “Cryptocurrency account” to get started.

Pricing for Gold on Standard

Gold pricing for Standard users will incur a flat fee of 1.50% per trade once it’s available. (Premium and Metal users will still be able to trade gold for a flat fee of 0.25% per trade.)

Capital at risk with Crypto

The price or value of any cryptocurrency can rapidly increase or decrease at any time. It may even fall to zero. Unlike normal money, no bank or government can stabilise the value of cryptocurrency if it changes suddenly. For full details of the risks of our Crypto Services, and the terms and conditions, visit our website.

Team Revolut

Possibly a fantastic marketing ploy to encourage people to use Revolut more, hence generating more revenue :thinking: :thinking: :thinking:

Your thoughts???

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Could you link to the mentioned thread or go into some detail about the disposable virtual cards as i haven’t heard much about them, are they now free for the standard account?

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Thanks for this, I’m not familiar with this forum but it looks interesting.

Revolut seem to be making quite a few changes lately for the better, hopefully disposable cards remain free as privacy concern is on the rise when shopping online.

It’s a shame they don’t have their banking license yet :cry:

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Some fantastic changes! Disposable cards being available to all is killer, even if it’s only a temporary thing. It gives them a chance to cement this feature as a must have in my life, that I will want to upgrade to premium to keep it.

Crypto isn’t something I care too much about these days, and Revolut lack some of the currencies that have potential to have interesting futures.

I recently got an email offering me a free physical card, so I claimed one. I like the design of it in Apple Pay, and hope the physical card is great quality. The new design stole the good layout changes Apple brought to card design, and retains an elegant simplicity without being monotonous. It sort of reminds of a tango ice blast, when you mix the flavours! :yum:

I really like what I’m seeing here!

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I did see something mentioned to the design being akin to the Apple Card which I’m a huge fan of! How long after opening your account were you offered a free physical card?

I’ve just signed up minutes ago and chose a virtual card initially.

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I honestly couldn’t say! I’ve had a dormant account with them for a quite a while, but only began actively using them as a spending account for about a month now. I did only recently verify my ID around a month ago too.

I have just been using just the virtual card which has been sufficient for my online spending, and if more shops in my local community would adopt Apple Pay, virtual card only would be my preferred option!

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I’ve answered my own question anyway, it turns out you can get the card for free but it just takes longer to ship (ETA - 17/04).

Completely agree with you on that point on support for Apple Pay by smaller/local shops. I was quite looking forward to the next offering of Monzo Plus so I could have disposable virtual cards through them, at which point I’d probably only use Apple Pay as well!

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Charging a % fee on crypto makes buying very accessible compared to some exchanges.

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