Revolut - Banking for the Digital Age

Revolut is a fintech company launched in 2015 that has made waves in the world of banking and finance. One of the key features of Revolut app is its ability to allow users to opt-out of traditional banking systems. Users can open an account in minutes, without the need for paperwork or a credit check. Once the account is open, users can make payments, transfer money, and manage their finances all from the app

Opt Out of Traditional Banking Systems

Traditional banks can be such a pain — hidden fees, long wait times, and so many restrictions. And don’t even get me started on banks in Canada— I’ve had some serious headaches dealing with them in the past! I was shocked how banks works in Canada. It was like moving back in 50 years. Cheques, never ending phone calls about everyting, not nice looking user interface, terrible apps and not talking about all the meetings you have to have if you need something. But with Revolut, you can access your money 24/7, without any sneaky fees or charges. Plus, since everything is done digitally, you can manage your finances from anywhere in the world. So no more endless phone calls or meetings just to do simple things like pay your rent! For those who has experience with european banks — it’s not so good in every country.

 Seriously, they blocked my account when I made a payment for my rent. It took 3 days of never-ending phone calls to solve the problem. Since there was no 24/7 support or online support and even if you go to the branch, they will tell you to make a phone call. As a European, I’m like, WTF?!

With the Revolut app you can open an account in minutes, without the need for paperwork or meeting. You can then use the app to make payments, transfer money, and manage your finances. 

Revolut also offers a range of innovative features that are not typically available with traditional banks. For example, the company’s Vault feature allows customers to set aside funds for specific goals, such as a vacation or car. The Vaults can also be shared with friends and family members, making it easier to save together for shared goals. I myself very apreciate this feature. You can also use a feature called "Spare Change" which rounds up the spare change from your Revolut card transactions and places it in a vault of your choice. You can choose an accelerator for this feature ranging from x1 to x10. It's a great feature for achieving short-term, small financial goals. 

You can choose from different Revolut plans. 

If you don't have your Revolut account yet here is my referral link you can use. If you want to, you can wait for special offers. I bought my plan on Black Friday, and it cost me half of the price.

Travel Hacks with Revolut

For those who want to make the most of their travels and are looking to save money  Revolut is must have. The company’s travel hacking capabilities allow users to save money and make the most of their travels. Revolut offers a range of travel-related features, such as the ability to buy and sell foreign currencies, withdraw cash abroad without fees, and spend abroad with no transaction fees. With Premium and Metal plan you are also covered on your trips not longer than 90 days. These features make Revolut a popular choice among travelers who are looking to save money and make the most of their travels.

Revolut’s travel insurance covers a range of events, including medical emergencies, trip cancellation or interruption, lost or stolen baggage, and more. The coverage is designed to be comprehensive, so users can travel with confidence knowing that they are protected against unexpected events.

Virtual Cards

With the increase in online transactions, the need for online privacy and security has become more important than ever before. The online card feature offered by Revolut provides you with a safe and secure way to make one-time purchases online without having to reveal your actual card details. 

Online cards are virtual cards that can be created and used for a single transaction. They are designed to protect you from fraud and identity theft, which have become increasingly common in the digital age. The online cards can be created through the Revolut app in just a few clicks, making it a convenient and easy way to make online purchases.

One of the benefits of using online cards is that they are not linked to the user's main Revolut card. This means that if yours online card details are stolen, it will not affect your primary card. You can set a limit on the amount you want to spend on each online card to avoid overspending, making it a useful tool for budgeting.

You can choose between One-Time virtual card and Multi-use virtual card. In case of the multiuse online card is the ability to freeze and unfreeze it. If you suspects that your online card details have been compromised, you can freeze the card immediately to prevent further transactions. Once the issue is resolved, the card can be unfrozen with ease. It's of course possible for your physical card as well.

I frequently use this feature for every online payment possible. It provides a significant advantage, especially for those who are not fond of the Canadian banking system and dealing with credit cards.