European fntech, Revolut, has launched its financial super app and debit card in the United States. The company launched in 2015 with a vision to build a single app where consumers can manage all aspects of their financial life. Since then, Revolut has attracted more than 10 million customers, raised over $800 million in funding – and now employs more than 2,000 people globally, including in New York and San Francisco.
Starting today, US consumers can set up a Revolut account from their smartphone, make payments and deposit a salary. Deposits are FDIC insured up to $250,000, through a partnership with Metropolitan Commercial Bank. Customers are also able to get their salary up to two days in advance via direct deposit.
Revolut customers receive instant spending notifications, giving them transparency on how much money they are spending on things like restaurants, groceries and transportation, and can set up monthly spending budgets for individual categories. Other benefits include; free P2P money transfers, bill split in restaurants, and the ability to round-up every card purchase to the nearest dollar and stash away their spare change.
US customers can also spend and transfer money globally at the interbank exchange rate, hold and exchange 28 currencies in the app, and withdraw cash from over 55,000 ATM machines in the United States and globally without fees.
As the cost of living increases disproportionately to people’s take home salaries, now more than ever, people need to know exactly what is coming in and out of their account. They should have the tools to help them manage their money more conveniently and accurately.
Nik Storonsky, Founder & CEO of Revolut