Revolut to roll out lower-priced subscription plan in Europe

16 Dec 2020

Image: Revolut

The fintech is launching Revolut Plus, which will give customers purchase protection and other features for £2.99 a month.

Revolut is adjusting its subscription offering with the launch of a new lower-priced plan called Revolut Plus.

For £2.99 a month, users will have all the standard Revolut features as well as purchase protection cover. Revolut Plus customers will also have priority customer support, access to additional Revolut Junior features, and will soon be able to order customised Revolut cards.

The new plan is available to Revolut customers in the UK from today (16 December), and will be rolled out to customers in the European Economic Area from next week. Revolut has not confirmed how much the plan will cost in Europe.

“We’re excited to launch our upgraded plans for our customers across Europe, providing them with great value for money while protecting them from out-of-pocket expenses,” said Nik Storonsky, CEO of Revolut.

Paid plan options

Users will be able to sign up for the new Plus plan in the Revolut app. As well as its standard free accounts, the company also offers a Premium plan for £6.99 per month (€7.99) and a Metal plan for £12.99 per month (€13.99).

One of the main differences between the subscription options is the level of purchase protection that is now being introduced across all paid plans. Comprehensive purchase protection will cover Plus customers up to £1,000, Premium customers up to £2,500, and Metal customers up to £10,000 if their eligible purchases are accidentally damaged or stolen, for a whole year.

Premium and Metal customers can avail of travel-related features, which won’t apply to Revolut Plus customers, including unlimited no-fee currency exchange, overseas medical insurance, and delayed baggage and flight insurance.

Customers with Premium and Metal accounts can also order exclusive payment card designs.

Earlier this month, Revolut announced that its 13m customers around the world will now be able to access their accounts on desktops and laptops through a new web app.

Sarah Harford was sub-editor of Silicon Republic