Global neobank and fintech firm Revolut announced recently that it has decided to increase the pricing of its premium plans. The monthly fee increase comes as part of an overhaul that will add more benefits to subscribed customers.
New pricing for Revolut’s premium plans
According to the company’s portfolio, there will still be five plans following the overhaul, including the Standard plan, which is free, but still has all the necessary features and services for everyday accounts and banking. Apart from that, there are also four paid plans, including Plus, Premium, Metal, and Ultra.
The neobank said that UK customers using premium plans will receive an email notifying them of the changes to the price of the plan. The notifications will start this week, and customers subscribed to a Plus plan, who used to pay £2.99 per month, will now pay £3.99 per month. Premium plan users used to pay £6.99 per month, and will now have to pay £7.99. As for the Metal plan, subscribers used to pay £12.99, and will now pay £14.99 per month.
The bank noted that existing customers who are on a monthly billing right now could lock in their existing plan price for another year if they switch to annual billing before the prices get upgraded. As for the exact date of the upgrade, customers will be notified about it in an email from the neobank.
Another change worth mentioning is that two plans — Premium and Metal — will include access to subscriptions for a number of lifestyle apps moving forward. Revolut noted that some of the covered apps include Deliveroo, Tinder, FT, and more.
Revolut is preparing a carefully selected bundle
Revolut already provided Ultra customers — those with top-end membership — the partnerships across the board, that could entail total savings of up to £1,730 per year. The bank will also provide other perks that subscribing customers are already enjoying , such as global travel insurance, higher limits for fee-free ATM withdrawals, and discounts on international money transfers.
General manager of premium products at Revolut, Tara Massoudi, stated that the bank is launching a unique offering that will being together a carefully selected bundle of lifestyle subscription services, which will now be included with the customers’ Revolut plans.
The benefit of this is that a single account will unlock subscriptions, bringing more value and convenience to its customers. “As part of enhancing our paid plans, additional exciting benefits will come to Ultra customers in due course, too,” Massoudi noted.