About six months ago I was looking for a bank to use for an everyday spending card that was easily distinguishable from the cards I had already… I had cards from three different banks as it was and was struggling to find any thing visibly different, which I needed because I suck at handling my own money…
I was then recommended a fully online company called Revolut, I did some research, set up an account and have been using it ever since then, so thanks to the recommendation money management for me has become a lot easier!
What is Revolut?
Revolut is what can be known as a currency card, the British based company describes itself as ‘a better way to handle your money’. I set my account up six months ago and I have not once regretted it; account set-up took maybe 10 minutes and I got a 15 pound reward when I made my first purchase because I had signed up using a friends’ code!
Revolut has a whole host of really fun and helpful options that other banks have yet to introduce, like an entire budgeting space on their app (that is ridiculously easy to use), I can view my spending by category (groceries, restaurants, shopping, transfers, utilities etc.), or by merchant (McDonald’s, IKEA, Subway etc.) or even by the country that I spent the money in – like I say, it is a currency card. They have added quite a few more currencies in the six months that I’ve been a customer of theirs and I find it really interesting looking at the exchange rates, although I have never been brave enough to buy currency as a way of making money it is definitely something that I could do through Revolut if I so wished to! One really neat thing that I enjoy about Revolut, is that you can set up your own ‘vaults’ and these can be set up to hold varying amounts change that you would’ve got if you’d paid to the nearest whole number of your currency (like save the change at other banks) the difference is, with Revolut you can set a saving goal for each vault, and you can have more than one at once. With vaults you could save the last 25 p from a 4.75 pound spend, or you can set it up to save double that, so 50 p from a 4.75 pound; spend and so on and so forth!
What can you do with Revolut?
Revolut have not tended to send emails that you have to then go through and delete if you are not interested in them, they send notifications to your phone; so if I spend 5.76 pound in Iceland, I will promptly get a notification to let me know and I can simply swipe it away! You also get warned of low balances through notification when you fall below 10 pound, or a notification to let you know that you’re reaching your contactless limit (mine is every 30 pound) but you can reset this by opening the app and pressing the button so you never have to use your pin if you do not want to!
Revolut Banking Card
If trading is something that interests you, the cryptocurrencies may interest you – choose from Bitcoin, Litecoin, XRP, Ethereum and Bitcoin Cash – you can have real time rates and even price alerts to help you to easily trade!
Interested? There are different ‘subscriptions’ that you can purchase, the basic one (that I have described so far, being the one that I have and therefore the only one that I have decent knowledge about) is FREE! There is three in total and the other two are 6.00 pound or 12.99 pound monthly. But the main thing that I love about Revolut is how beautiful their cards are… They’re purple and blue, very aesthetically pleasing and I always get questions about it! Sadly, I have no experience with the credit side of Revolut, mostly because I really have no intention of playing around with my credit too much, so I am unable to help with any information about this side of the company.
Overall, I would definitely recommend Revolut to anyone looking for a new bank account, and would recommend that it is used to help to control spending (another handy feature, spending goals!) or for bills. I have enjoyed having my Revolut and use it for my daily spending on things like buying lunch at work or weekly shopping because it’s so easy to keep track of money! 100% recommended!