On 22.2.2019, Revolut achieved 4,000,000 customers. It is signing up over 10,000 new customers every day, compared to around 7,000 day just six months ago. Revolut has boosted its Weekly Active Users (WAU) from 500,000 in July 2018 to over 1.2M in February 2019. Monthly Active Users (MAU) have increased from 900,000 to 1.9M in the same time frame. Revolut’s monthly transaction volume has also increased from $2.4B in July 2018 to over $4.6B per month.
Revolut will launch commission-free trading service soon
The company is almost ready to launch its commission-free trading platform called „Weath“. It will would let users invest in a range of firms listed publicly in the UK and the US, in addition to other instruments including exchange-traded funds (ETFs) and options. In other words, Revolut is going to become the Robinhood of Europe.
While American customers have been using Robinhood for years, the rest of the world has been lagging behind when it comes to stock trading. You still have to open an account on a painfully slow website and pay a few euros for every transaction. And if you want to buy stock through your existing bank account, it usually costs even more.
Fintech startup promises that you won’t pay any commission when you buy or sell shares. The company plans to make money on margin trading, securities lending and interest on cash. Unfortunately, there is no exact date when the feature would launch, but there rumors that it is expected in a months or so.
Premium subscribers will be able to test the feature first. Eventually, you’ll also get additional perks if you’re a premium subscriber. Trading will be available to all Revolut users in Europe and future markets. The company plans to launch in the US, Canada, Singapore, Hong Kong, Australia and New Zealand in the coming months.
European banking license
In December 2018, Revolut got an EU banking license. The company applied for a license through the Bank of Lithuania and is leveraging passporting rules to operate in other European countries. Users will see some nice changes over the coming months.
One very important change is that your money will be covered up to €100,000 under the European Deposit Insurance Scheme. It should convince more users to switch to Revolut for their salaries and big sums of money. Eventually, the company expects to be able to offer overdrafts and loans. All fintech startups end up offering credit at some point as it’s a good way to generate revenue.
Revolut is a fintech company launched in 2015. For only three years the company was able to get banking license and is currently opening between 8,000 and 10,000 new accounts daily, and processing more than $4 billion worth of transactions monthly. Kind of banking Revolut-ion!
How to get your free debit card
Here is how to do it step by step:
- Visit this link: http://vivainvest.eu/join-revolut
- Enter Your Phone Number- enter your mobile number and click accept to join this promotion of a free debit card.
- Download App & Sign Up – Download the latest Revolut app from the link your received via SMS and sign up for your account in about 60 seconds
- Top Up & Order Your Free Card – Top-up your account with the minimum amount of €10 or equivalent to order your free card.