Revolut Launches Vault, An In-App Saving Feature
Let's say you have to pay $1.79 for a cup of coffee and you choose to pay with your card. What if there will be an app between you and the card, that will round up the value of that transaction to $2, and put the remaining $0.21 in a special savings account? It's like saving without even bothering about it.
That's exactly what Revolut launched today. In an email to their card holders it announced "Vault" a service which rounds up the value of any transaction and puts the remaining in a special savings account. Here's what they said about it:
Vaults are the easiest, fastest way to save for your financial goals. Whether you choose to round up every transaction, set up a recurring payment or simply make one-off contributions, you’ll be able to set up a Vault in seconds and immediately start saving.
As you can see, there are three ways in which you can use Vault: rounding transactions, setting up a recurring payment (like a normal savings strategy) or making a one-ff payment.
Revolut become relatively popular a few months ago, when it introduced the ability to buy Crypto from within the app, but the commissions and prices are still a bit too high (at least in my opinion).
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
Good news thanx
It is really a cool idea to save the pennies in a vault and those little drops make the mighty ocean .
Mighty ocean........You can say that again!
Cool i didn't hear about revolut before thank you for sharing
Revolut is a very useful innovation, a lot of time we choose to close our eyes to these small changes left at the back of the price, now there is a better use of it, savings, for future, excellent innovation
This is a great information about revolut. I am happy to heard it has launched today. Thank you @dragosroua for sharing this post with us.
Its such a good news..thanks
Very informative post about Revolut. Thanks for sharing the details about Revolut thats very useful for all.
It will be great cause Revolut will accept about 25 currencies.
The London-based fintech has highlighted that users can save in any of their 25 supported currencies, as well as Bitcoin, Litecoin and Ether. 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.
good news
I got a Revolut card a little while back, I haven't used it yet but will give it a try! I am not sure I fully understand the benefit of this vault though. I don't know if people now days really want a third-party to do the saving for them. It seems a bit 60s idea, unless I am completely missing the point :)