With nearly 2 million customers Revolut is the largest Nordic digital bank. Last week today launched a number of new payment features for the Nordic market in their bid to convince the young and tech-savvy to ditch their traditional banks.
Revolut customers in the Nordics will now be able to set up a Vault in seconds, allowing them to round up their card payments to the nearest whole number and save up their spare change. Customers will also be able to set up a recurring payment or make one-off payments to their Vaults.
“Like anywhere else, Danish and Swedish consumers are forced to bank with the traditional players and accept their dated technology, lack of innovation and excessive fees. With over 30,000 Nordic customers in just a few months since we launched, we’re on track to hit 100,000 by the end of the year and free them from the grip and greed of the traditional banks,” says Nikolay Storonsky, founder ann CEO of Revolut.
Having already launched Vaults a few weeks ago in other European markets, more than 150,000 Revolut customers have already created one, with more than €5 million saved to date. The most common reasons for setting up a Vault are people saving up for a vacation or a new phone.
Revolut has also launched a new payments feature in the Nordics called NearMe. Right now, Revolut allows customers to send and request money instantly from each other with no fees. And the digital bank is planning to launch a fully metal card for the Nordic market in the next few weeks that will give customers 1% cashback on spending in either fiat or cryptocurrency. The Platinum metal card will also offer customers a personal concierge that will book concerts or restaurants on behalf of customers based on their needs. The platinum will also come with a host of other features including unlimited foreign exchange, overseas medical insurance and fee-free spending abroad.