Revolut launch instant access savings account 2%-3.49% Less Fees

Now if Revolut could offer a 7 day notice account with similar rates I'd probably go for it. Instant access via a phone that I carry all the time and that is a prime target for thieves is not what I want for savings.
 
The entire concept of having to pay a fee, to get a better savings rate, does not sit well with me.

Also, why not just pay the intetest rate on the "Vault" accounts? The current arrangements may now leave people thinking that they'll earn intetest on funds in their Vault, when in fact, they will not (unless I'm mistaken).
 
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Nordkapp said:
When AIB credit card no longer allows free top up to Revolut, bye bye Revolut. Business model is so fragile. AIB could and should shut down this facility in the morning.
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KBC Credit Card gave cashback for 'Online Transactions'.
Using the KBC Card via Google Pay to top up Revolut (€1000) was classified as an Online Transaction.
Used Revolut card to pay the KBC card bill of €990.
Profit of €90 a year after stamp duty.

First time I tried to do similar with Avant, I found they had correctly hit me with a cash advance fee, so no dice.
 
Until a few weeks ago some customers with Lufthansa and Hilton cards in Germany used their cards to "load" revolut as a way to generate Airline/Hotels miles, some to significant amounts.

However, the card issuer now has stopped giving Miles and the game is over. It is interesting that they choose to go down the "no miles" rather than the "introduction of fees", so I guess it shows how expensive Miles are in reality for the banks.
 
MrEarl said:
The entire concept of having to pay a fee, to get a better savings rate, does not sit well with me.

Also, why not just pay the intetest rate on the "Vault" accounts? The current arrangements may now leave people thinking that they'll earn intetest on funds in their Vault, when in fact, they will not (unless I'm mistaken).
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Vaults are a hangover product from when they did not offer full banking services and require some internal logistics to ensure they are covered by the bank guarantee (remember how in the beginning of the LT IBAN you got a separate account number on your statements to facilitate the transfer from e-money to bank money).

As savings account is a standard bank product and hence easier to administer.
 
Connard said:
I don't know about N26 but Bunq and LightYear seem to offer SEPA instant, as does Revolut. So, having your savings in Bunq or LightYear will allow immediate access to funds in your Revolut account while earning you a higher rate.
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The free Bunq savings account does not offer SEPA instant unless something changed with the latest update.

But yes, you can always have other alternatives, it always comes down to personal preferences and use cases, sometimes it's just easier to have money in the same bank and 2% is still better than what the irish banks offer for instant access.

Plus, it's always a good idea to use multiple options to park funds, diversification is always good!
 
DublinTexas said:
The free Bunq savings account does not offer SEPA instant unless something changed with the latest update.

But yes, you can always have other alternatives, it always comes down to personal preferences and use cases, sometimes it's just easier to have money in the same bank and 2% is still better than what the irish banks offer for instant access.

Plus, it's always a good idea to use multiple options to park funds, diversification is always good!
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Am I right in thinking that Bunq doesn't do the DIRT tax for you?
 
DublinTexas said:
The free Bunq savings account does not offer SEPA instant unless something changed with the latest update.

But yes, you can always have other alternatives, it always comes down to personal preferences and use cases, sometimes it's just easier to have money in the same bank and 2% is still better than what the irish banks offer for instant access.

Plus, it's always a good idea to use multiple options to park funds, diversification is always good!
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Actually, I had cause to make a transfer yesterday from my Bunq savings account directly to my N26 savings account (as it has a separate IBAN it can be done directly) and it was instant.
 
I did a few thousand - I checked on the Revolut Web App and the account is not showing. Will it show? Maybe just some kind off delay. It is showing in the App on my phone.
I'd imagine the Revolut top ups with money coming out from AIB,BOI,EBS,PTSB has increased a fair bit. They only have themselves to blame.
 
theresa1 said:
I did a few thousand - I checked on the Revolut Web App and the account is not showing. Will it show? Maybe just some kind off delay. It is showing in the App on my phone.
I'd imagine the Revolut top ups with money coming out from AIB,BOI,EBS,PTSB has increased a fair bit. They only have themselves to blame.
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I don't think Savings Account are available to be shown on the web app, the web app is very basic, the app is the main focus.

I checked and my Savings Account is not shown on the web either.
 
Thanks DublinTexas - your probably right.

What can you do with the Web App?​

  • Get a full view of transactions and account balances
  • Add money to make sure your account is ready to go
  • Freeze and unfreeze your card and control card security settings
  • Access 24/7 customer support chat and FAQs
 
clinteastwood said:
I risked 600euro, my monthly topup of revolut, and today i am 3c/day richer. better the 3c in my pocket than 0c i used to get. might get a "free" pint in about 6 months...
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What would you have charged your time out at of looking to be paid to have transferred those funds?

- I'll bet your down, on the day ;-)
 
MrEarl said:
What would you have charged your time out at of looking to be paid to have transferred those funds?

- I'll bet your down, on the day ;-)
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Actually , I was deeply engaged in rather urgent & pressing multi-tasking at that moment of transfer and account opening....
- the c. 5-20 mins daily chore of "call-of-nature" to complete....which even Kings must do... :);)
- so come to think of it, the 3c/day is a bonus.
 
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