Digital Banking: Revolut Explains how to Easily Send Crypto, Earn Competitive Interest with Savings Accounts

The team at digital bank Revolut notes that they are now closer to 2022 than 2020, so making plans for next year would be a good idea. They also mentioned that July was “generous,” bringing many new products with it, including those related to booking stays as well as sending virtual currency to friends.

Revolut‘s blog post confirms that you may book worldwide stays “straight from your app.” You can also get as much as 10% instant cashback and the Fintech firm will not charge you booking fees.

While sharing how easy it can be send someone some crypto, the Revolut team explains that you can do it “quickly, conveniently and, most importantly, for free.” You just have to go to the Crypto tab in your app, then choose your friend (or intended recipient) and send them crypto within seconds. However, Revolut reminded users that the cryptocurrency service is not regulated by the UK’s Financial Conduct Authority (FCA).

Going on to share other updates, Revolut’s blog noted that you can stash some cash in a Savings Vault and you’ll “get 0.15% annual interest paid daily.” If you’re looking to earn even more interest, then you may upgrade to one of their paid plans and “get up to 0.4%.”

If you need to send and request money while you are not online, then you just need to show your QR code “to instantly share your bank details.” According to Revolut, this process is “easy, fast, convenient and eliminates the chance of someone entering the wrong details.”

Revolut also mentioned that they’re always trying “to make international transfers as accessible as possible, so you can now send 30+ currencies to a host of new countries.” There’s “no additional cost for transfers and no limit on how much you can send,” the company clarified.

As covered, neo-bank Revolut recently announced the launch of daily interest savings vaults for UK customers on the standard plan. Customers with a Revolut standard plan can begin to earn 0.15% daily interest on the funds in their GBP vaults.

Revolut, which is serving over 16 million customers, has also added a new travel feature, “Stays,” that it expects to provide £70 million to its customers in a 10% cashback scheme for UK and European customers.

As reported recently, Revolut has finalized a massive $800 million round that now values the loss-making Fintech at $33 billion. Revolut‘s latest investment round brings on board two key investors, the SoftBank Vision Fund 2 and Tiger Global Management.

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