New account types on offer from London start-up Revolut

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Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • Revolut, which currently has a six-figure number of users, will provide new accounts aimed specifically at new local businesses which are scaling up globally
  • New account types will be available to businesses of all sizes and will be priced using an elastic model so that moving up and down becomes simple and easy
  • “Using our own experience, we’ve developed a brand-new free offering which will save our customers time, money and give them the flexibility and control they need to operate both locally and globally”, says Revolut boss

Revolut, a leader in the digital banking sphere, has announced that it will release two new types of accounts designed to help businesses looking to move from one market to the next.

The new accounts, which come with no additional subscription fees each month, will help start-ups to get off the ground and then move into different markets around the world.

Both sole traders and corporations will be able to access the new account types, which come from the “Revolut for Business” branch of the brand.

The prices for the plans will be distinct and are set to improve the amount of control that a business leader will have over their costs. There is also the intent to provide better value for money.

The firm also announced that it would be moving towards what is known as a demand-based pricing model as part of the shift to the new accounts.

The new elastic pricing system will allow customers to access or avoid certain features and pay for the ones they use.

They will also be able to upgrade whenever they need to.

Revolut is a market leader in this sphere already. Over the last 24 months, 100,000 firms have joined its ranks. It currently offers the opportunity to both send and accept online money transfers in almost 30 currencies.

Accounts which accept different varieties of currency can also be set up. The Revolut system is digital-first – meaning that cross-border payments can be automated through application programming interfaces (APIs).

Commenting on the latest development, Revolut’s James Gibson – who is Product Owner at Revolut for Business – argued that the changes would lead to a significant positive change for business owners.

“We understand first-hand how frustrating it can be for ambitious entrepreneurial businesses to get the support they need to kick off their journey to success”, he said.

“Using our own experience, we’ve developed a brand-new free offering which will save our customers time, money and give them the flexibility and control they need to operate both locally and globally. Our businesses are the beating heart of the economy and we’re so excited to be able to do our bit to support them”, he added.

Revolut is just one example of a fast-growing start-up that is committed to top-quality customer service. Learn more about it and what it can do for your firm over at our magazine page.


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