Home Business NewsFinance News Revolut helps customers save over £5m with new vaults feature

Revolut helps customers save over £5m with new vaults feature

10th May 18 3:33 pm

Saving for holidays to space trips

Revolut, the digital banking alternative, has today announced that over 150,000 customers have started saving via Vaults since its launch in April. The feature enables users to round up and save the spare change from every card purchase and has already lead to Revolut customers saving over £5 million in spare change so far.

The London-based fintech has highlighted that, to date, users have saved in all of their 25 supported currencies, as well as Bitcoin, Litecoin and Ether. The most popular currency for savings is Euros, closely followed by British Pounds and Polish zloty.

Revolut has also revealed that the most popular reasons for saving money are for holidays, cars and weddings, while over 350 people have created a Vault to save for a trip to space!

Revolut is also looking into the possibility of partnering with a number of charities to allow customers to donate the contents of their Vaults to a selected charity each month. Customers were recently asked to vote on social media whether they would like to see the feature added to the app, which received a hugely positive response.

One-off or regular payments can also be added to a Vault at anytime in just a few seconds via the Revolut app. If users feel like saving more or less at any point, the Vault settings can be easily adjusted in the Revolut app and money can be withdrawn instantly at anytime.

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