‘Free Revolut Card’
‘Main challenger banks’
‘Digital only banks’
‘Key fintech disruptors’
All these buzzwords and many more are everywhere in 2019, but what do they really mean? Old school banks are built on bricks and mortar. Even as branches close, the way we bank has been the same since banks started business in the 1400s. So why do you need a free Revolut card?
I discovered Revolut last year while on a holiday in Europe. A digital bank which claims to save money, especially on foreign transactions. A year later I am still using my Revolut card day to day. Long after the tan faded.
So why am I fan of Revolut?
Well firstly it saves me money. When shopping abroad you pay NO fees. Your normal bank can charge anything up to 2% of the transaction fee, which will quickly add up!
Secondly, it was simple. The card is basically a pre-paid card, so you load it up either from a linked debit card or a bank account using the app on your phone. This has the additional benefit to limiting the amount held on the card in case it’s lost or stolen. The app is instantaneous and there have been times when I’ve been waiting to pay and the card had loaded by the time I got to the cashier. It also means your main card can be safely back in the hotel safe meaning you only take out one card.
After you have been using the card the scariest, and best feature of Revolut comes in to play. It gives you a breakdown of your spending, how much you spend, where you spend it and on what. It’s not intrusive that it breaks everything down to show you want you spend, either by category (shopping, restaurants, groceries, entertainment, transport etc) or by Merchant.
I signed up to the card for the duration of the only holiday. When I returned to the UK I kept using it for contactless payments. Unlike normal banks where a pending transaction can take days to show on your account Revulot is instant. As we touch and go more and more the number of these pending transactions build up. This is great for those who are anal when it comes to tracking their personal finances (I have many many spreadsheets which I may revisit another time!) This is infuriating knowing that if Revolut can show transactions instantly, why can’t the big banks?!
Sign up with from the link in the image below and save £5 from the normal cost of a Revolut Card
Give Revolut a try. It’s free and it might jus save you quite a bit of money while helping you budget