UK based digital bank Revolut has introduced a new debit multi-currency card that comes with “compelling travel benefits and cashback” for millennials who might be traveling, Kunal Chatterjee, Visa country manager for Singapore and Brunei confirmed. Revolut recently expanded into Asia with its sights set on multiple markets beyond its European base.
The Revolut card offers 1% cashback on international purchases in 28 different currencies.
The Revolut Metal card also allows users to make free international ATM withdrawals up to S$1,050 (appr. $775) each month. Cardholders also get a free airport lounge pass annually and are offered wholesale rates on subsequent ones. A dedicated concierge service is available for booking flights and festival tickets is also offered with the card.
Additionally, consumers will get unlimited foreign exchange at the “real exchange rate” (the rate quoted by doing a Google search), free international transactions, and overseas travel insurance, which covers emergency medical, dental, baggage delays, and loss or damage of items that are purchased with Revolut.
Revolut’s management stated that it will “continually improve the package” with new benefits including commission-free stock trading, which is presently available to EEA-based consumers. Cardholders will also get delayed flight insurance coverage, family and youth accounts, and unlimited disposable virtual cards.
Nik Storonsky, founder and CEO at Revolut:
“We are sure that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide. While the plan already comes with a bunch of new features, there is so much more to come to ensure that our metal users in Singapore have the best experience.”
The Revolut Metal card is reportedly accepted by more than 61 million merchants worldwide that take Visa. The card is fully contactless-enabled, meaning customers just need to tap to pay for items.