The application allows users to manage their spending efficiently, offering multiple payment methods including physical and virtual cards, as well as support for popular digital wallets like Google and Apple Pay. Travelers can benefit from favorable exchange rates when spending abroad, although additional fees may apply. Users also gain access to over 55,000 ATMs around the globe without incurring fees, enhancing their convenience when accessing cash overseas. Furthermore, the app allows for connecting external bank accounts, giving users a complete overview of their financial activities. There is also an option to design a personalized physical card, although this may come with some fees.
A standout feature of the app is its capability to help parents set their children up for financial literacy through the Revolut <18 account. This account includes a dedicated card for children, enabling them to learn the fundamentals of money management in a safe and entertaining environment. Additionally, the app simplifies sending and receiving money across various currencies, making it easy to handle transactions both locally and internationally. Users can engage in peer-to-peer payments and even split bills while adding a touch of fun with GIFs to ease any potential tension.
The application also provides innovative savings options, allowing users to grow their funds with up to 4.25% APY through Savings Vaults. This feature comes with the flexibility of accessing savings without penalties, making it easier for users to build their financial cushion. Users can automate their savings through recurring transfers and by rounding up spare change, ensuring effortless accumulation of funds. Moreover, for those interested in investment opportunities, the app facilitates stock trading from as low as $1 with access to over 2,000 stocks. This includes commission-free trading within a set monthly limit, although other associated fees may still apply.
To help users manage their finances effectively, the app includes tools for budgeting and expense tracking. Users receive instant notifications for every transaction, enabling them to stay aware of their spending habits. It also offers alerts for upcoming payments and subscriptions. Premium users have the option to access exclusive benefits and enhanced features through different subscription plans. Security is a priority, with tools to freeze and unfreeze cards as well as create single-use card numbers for additional safety. The app employs sophisticated fraud prevention measures and provides 24/7 customer support, ensuring users feel secure concerning their financial transactions. Overall, the app provides a comprehensive suite of features aimed at fostering financial responsibility and growth for its users.