Global financial app Revolut, which has 25 million retail customers worldwide, is launching a new membership plan, Ultra, to customers in the UK and Europe. The new top-tier plan, boasting a range of perks, is coming in spring 2023, the broker said this week. New and existing customers are encouraged to join the waiting list to unlock 5% cashback on purchases made in their first month with Ultra.
Tara Massoudi, Revolut General Manager of Premium Products, said: “More of our customers are interested in financial products offering better convenience. This growing consumer market is focussed on a new definition of luxury, one that is functional.”
Massoudi said that although these high-earning consumers are climbing the career ladder and want to build a steady passive income, they also aim to enjoy life, keep up to date with the latest trends and travel multiple times a year.
“To fulfil our customers’ expectations, we’re launching a membership that offers ultimate choice and flexibility in managing finances,” he added. “There’s no bundle similar to what we’re launching in Europe, and no single player who can offer such a product. We’ve taken an original approach to offer a unique card and membership plan to people who love elevated travel and lifestyle experiences, and seamless investment products.”
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Revolut’s ultimate luxury membership opens doors to a world of privileges and rewards across travel and lifestyle. With more to be announced soon, the benefits will include free lounge access, cashback, and low fees on Revolut investment products. Sources close to Revolut confirmed that the service will include low trading fees on cryptocurrencies and “other investment product perks.”
The Revolut Ultra plan will also offer cashback and discounts in partnership with Revolut’s customers’ favourite brands, catering towards various wellness and lifestyle needs, depending on user location.
All existing Premium and Metal customers have been invited to join the waitlist and will be given early access to Ultra in the next couple of months. However, any new and existing customers can also get early access and unlock the 5% cashback offer by signing up to the waitlist. Ultra will be made publicly available this spring.