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RovenMarsel
Angemeldet seit:
09.05.2021
Beiträge: 215
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About Revolut
Revolut, which has more than seven million customers in over 70 countries, is a leading force in the global fintech industry. They've been building a worldwide neobank with innovations that suit the banking needs of international spenders and those who travel internationally. Revolut was founded in 2015 in the UK and has a Melbourne office. It is an app-based, digital financial platform with unique global transfer and spending features. You can use the app to send money in 15 different currencies. You can also set up savings vaults that will store your funds. Additionally, you can even set spending limits and savings targets. ***** began in beta in Australia in June 2019. ASIC granted permission for them to conduct business in Australia despite having no Australian Deposit-taking Institutions (ADI) license. Revolut acquired its own Australian Financial Services Licence, which is now fully accessible to the Australian public. Each tier has a prepaid card connected to Revolut. They all have different fees and features. But we'll get into those details below.
Revolut's products
Revolut's app and cards have been fully launched in Australia as we already mentioned. Revolut Standard has three account and card levels, while Revolut Premium and Revolut Metal have two. These are the key points you need to know about each one:Revolut StandardA Standard Revolut Account is free. You won't be charged monthly account fees, as you would with other accounts from the fintech. The Standard account is the "no frills" option but offers many features you wouldn't get from a regular bank. Standard accounts include a Revolut Visa card, which can be linked to their app. You can use this card to make purchases in 110 different currencies at the interbank currency rate. This rate is what banks use when switching currencies. You don't have to pay any exchange fees for international money transfers. This card can be used in over 110 currencies, including USD, GBP and Euros. There are also no transfer fees of up to $9,000 per month. A small fee of 0.5% is charged for transactions above $9,000. You can also withdraw money in USD, GBP, or Euros without any fees. There is a small fee of 0.5% for transfers over $9,000. Premium users can transfer unlimited amounts in 27 major currencies without a monthly limit. Additionally, the fee-free ATM withdrawal limit for Premium users is increased to $700 AUD. Revolut's Premium Visa card comes in a range customisable colors and is delivered free of charge by global express. Cardholders can access disposable virtual cards to increase security and speed up online transactions. The app creates virtual cards in seconds with unique card details. These virtual cards will automatically regenerate after each transaction to increase security. Revolut's Premium Visa card offers customers access through LoungeKey passes to over 1000 airport lounges all around the globe. Revolut Metal customers can purchase LoungeKey Passes within the app at an additional cost. They gain access to more than 1,000 airport lounges worldwide. It is called "Metal" because it has the following features: Revolut has issued its first ever 'Metal' tier customers with their own Revolut Metal card. Revolut's cashback service is available only to Metal users. You get 1% cashback if you make card payments outside Australia and 0.1% cashback if you make them within Australia.
Revolut app features
Revolut has built a really smart app with ***** some remarkable features that could be exactly the right thing for today's tech-savvy customers when it comes global transfers or spending management.
Automated or personalised transfers
Revolut app creators made it easier to send money internationally and locally. They understand that regular payments to the same place are common so they created an automated recurring billing tool that allows for subscriptions and split bills. It's easy to set and forget. Revolut does not have a banking license for Australia. This means that they are unable to provide savings accounts with interest-earning traditional accounts, as these are covered by the Financial Claims Scheme. Revolut users can set up vaults to store their money. A linked roundup tool is available, as well as a feature that allows users to set up regular weekly or monthly deposits. The savings vaults can be personalized with a specific name or savings goal, so that it is clear where and how much money they are going.
Budgeting and management
Revolut has made it simple for users to set spending limits and monthly budgets in the app. Revolut's analytics tab lets users visually track where their money goes. It categorizes payments under headings like groceries and restaurants, and provides graphs and figures showing exactly how much you spent.
Is Revolut right to you?
Revolut's goal to increase international spending and transfer rates through its various cards options, in-app features, and tools to save you money is their goal. Revolut may be the best option for travelers, expats, or anyone needing low exchange rates when sending money overseas. Revolut offers a wealth of money management tools as well as a spending option. This makes it an attractive option for anyone looking to manage their money. Revolut does not offer traditional bank services, such as phone banking or in-branch banking. It does not offer full banking product offerings to Australians, such as home loans and savings accounts. Revolut, at the moment, is not a bank in Australia. It does have an AFSL but a full banking license might be something that the fintech considers. You can find more information about the different licences that may impact your money in our Money App and Neobank Licences Explainer.
How can I sign up for Revolut
Revolut's app allows you to sign-up. This includes your mobile number and name, address, payment details, and payment details if you have a Premium or Metallic account. Revolut will activate your card through their app once your account is open. You can use the card however you want and in any currency once it is activated.
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