Revolut premium metal card offers cryptocurrency cashback
Digital banking startup Revolut is targeting affluent Millennials with the launch of a new metal card offering a range of benefits, including cashback in bitcoin and other cryptocurrencies.
Revolut Metal carries a monthly fee of £12.99 or £120 per year against £6.99 a month for the digital bank’s basic premium subscription. It is crafted from a single sheet of reinforced steel and is nearly three times heavier than a plastic card.
The new card pays 1% cashback on card transactions made outside the European Economic Area (EEA), while transactions made inside the EEA will pay 0.1%. Cashback can be received in 25 different currencies, including cryptocurrency. It will initially be offered to Revolut’s 10,000 premium clients, before being rolled out more widely.
Customers will get up to £600 per month in free international ATM withdrawals and a dedicated concierge service when booking flights and festival tickets. Other benefits include nlimited foreign exchange, free international money transfers, 24/7 priority customer support and overseas travel insurance.
Looking further afield
“We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide,” says Revolut’s chief executive, Nik Storonsky. “While the plan already comes with a bunch of new features, there is so much more to come, including commission-free trading and airport lounges.
“The launch of Revolut Metal is also an important step towards the company generating additional revenue, especially as we prepare to launch a commission-free trading platform and expand the business into North America and Asia later this year.”