London-based challenger bank Revolut has launched an affordable option called Revolut Plus for £2.99 per month month for its customers. This follows the launch of N26 Smart and Monzo Plus subscriptions. Already, the company offered two paid plans – Premium and Metal priced at £6.99 per month and £12.99 per month respectively.
Revolut Plus plan detailed
Revolut Plus provides customers with comprehensive purchase protection from Qover worth up to £1,000 from accidental damage, theft and no-return policies for a year. On the other hand, Premium and Metal customers are covered up to £2,500 and £10,000 respectively. Also, prepaid customers need not worry much about returns as there is extended 90-day refunds for eligible purchases and users can book tickets for events and get refunds to their Revolut account if they were not able to attend it.
With Revolut Plus, customers can securely spend online with their virtual cards and pay in-store with convenient and quick mobile payment services such as Apple Pay and Google Pay.
Other benefits for Revolut Plus users
Customers who sign up to Revolut Plus will get priority customer support via the app and more from their money with access to cryptocurrency, stock trading, and commodities. Also, parents and guardians have the ability to teach money management skills to their kids as they get access to two junior accounts with this plan. The Revolut Plus customers in the UK can effortlessly grow their savings at a daily interest of %0.30 AER from Savings Vault.
Nik Storonsky, CEO and Founder at Revolut, said: “We’re excited to launch our upgraded plans for our customers across Europe, providing them with great value for money while protecting them from out of pocket expenses. We want to help our customers shop safely, knowing their purchases are protected by Revolut from theft, damage, or no-returns policies.”
Felix Jamestin, Head of Premium Product at Revolut, said: “Revamping our paid plans and introducing Plus should give a big boost to our customers’ confidence and wallets. Not only will they receive a new, affordable plan with additional protection, they will also get all the great features they have come to love.”
When to expect?
The new Revolut plan is already available for customers in the UK while customers in the European Economic Area (EEA) will get it from next week. Furthermore, Revolut plans to introduce Revolut Plus and other revamped plans to other global markets in the near future.
Could be a Monzo Plus rival?
It looks like Revolut has come up with a rival to Monzo Plus, which costs £5 per month. Launched a few months back, the reviews and feedback of this plan aren’t that great. Also, it is beneficial for Revolut as it looks like a clever way of making free customers pay for the service.