Remittance Firm Revolut Introduces New Review Page with Updated Pricing

Remittance customers can look forward to significant savings if they switch to Revolut from its competitors today. The UK-fintech will be charging a fee for remittances but is keeping its commitment to giving customers some of the most competitive rates in the market.

Standard and Premium plan customers will be charged a fee for cross-border transactions. The fee will be 0.3% of the amount transferred, starting at a minimum of S$0.30, and capped at a maximum of S$9. Revolut will continue to apply interbank rates for currency exchanges. The Interbank is the top-level wholesale market through which most currency transactions are channelled and, as such, Revolut is able to offer excellent exchange rates.

Maintaining the value proposition for its paid plans, Revolut’s Metal plan customers will enjoy an unlimited number of fee-free cross-border transfers, while Premium plan customers will get 1 fee-free cross-border transfer a month.

The implementation of this new fee does not affect Revolut’s standing as one of the most competitive providers of remittance services in the market. A recent comparison against some competitors reveals that Revolut’s fee remains one of the lowest.

6 May 2021

Author: Terry KS

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