If you’re a regular reader, you may remember our post from last month about Revolut’s plans to take Poland by storm. The British fintech giant has already won the hearts of many with their bureaucracy-free philosophy and new-tech-oriented focus. In case you haven’t found their previous promises convincing, you may want to check out Revolut Vaults, as they’re about to change the game when it comes to hassle-free saving.
We’re not sure about you, but one of the hardest aspects of savings for us seems to be the commitment of transferring a set sum into a different account. While the act itself is beneficial in the long run, in the moment it often feels like an empty purchase. Here’s where Revolut’s Vaults can help.The main principle of the service could not be simpler – with every card transaction made with Revolut, it will round up the price to the nearest whole number, and throw the spare change into the Vault. While the amounts may seem small, frequent payments can quickly add up.. Best of all, you’ll likely forget about them, only to find a nice stack of coins in your Vault later.
Apart from the rounding up functionality, Revolut’s service also offers some of the more traditional options usually found in savings accounts – clients can also set up recurring payments, and make one-off transfers whenever they please. Funds transferred into a Vault are kept separate from the main account, and they can be accessed at any time. If you’re saving up for a specific purpose, you may also give your Vault a personalized name.
That’s not all – cryptocurrency enthusiasts will also be pleased to see each of the Revolut-supported currencies present in the service as well. Vault’s users can already save up in Bitcoins, Ethereum, and Litecoin, with Ripple being expected to be included in the service by the end of April.
So far, Revolut’s newest release appears to be a success – according to their website, 30 thousand beta users have saved over 150 thousand Pounds in just a week. If the functionality truly turns our savings into a natural habit, it may have the potential to change the way we look at personal finances in the long run.
For more information about Revolut, feel free to check out their website.