Students - free Revolut premium competition


(ben) #1

Revolut is running a promo whereby if enough people from your uni to signup then you all get Revolut premium free for a year:


(Adam Williams) #2

Interesting tactic, but what part of Revolut Premium are they hoping will be attractive to students? I can only think of international students appreciating the international bank transfers. Maybe it’d be useful for breaks abroad … but IMO I’m not sure there’s really a lot there to motivate students effectively organising a marketing campaign at their university.

Also, the whole “saves you money for more :pizza: and :beers:” annoyed me a little. Don’t get me wrong, I enjoy pizza and an occassional drink but it feeds into the whole “students aren’t financially responsible” mindset which is unfair at best. My largest monthly expenditure takes the form of payments to SLC, because compound interest whilst I’m still studying is a bitch.


#3

Monzo already discovered last year that the competition is unmatchable in the market for students and there isn’t much space for a bank that doesn’t hand out free money.

Incumbents are factoring in that they are going to tie you down to a big overdraft, then a loan, then a mortgage, then benefit from lending out your retirement savings. Being able to bilk people from cradle to grave is worth many thousands of pounds and Monzo, Revolut etc don’t have that same model.

It is going to be very, very hard for them to achieve anything with this.


#4

Monzo should take a different approach - make a really good app and a cool brand image. They have the latter

Side note: Monzo had a competition and our uni won, but we haven’t seen the sunlight of any prize…


(Hugh) #5

This is true. People like the app however I’ve found I literally need to stand there and hand out the cards then and there to get any chance of success with people taking it up.