Tag: savings

Revolut Secure is here, plus new security feature to safeguard customer savings

Revolut, the global fintech with over 2.8 million customers in Ireland and 40 million globally, has launched Wealth Protection in Ireland, an extra layer of in-app identity verification, designed to prevent thieves from accessing the money customers have within the Savings & Funds* or Pockets** sections of their Revolut app. 

Wealth Protection will help to further protect customers who have had their unlocked phone stolen, or password and face recognition compromised, and stops criminals from withdrawing customers’ hard earned money.

Many banking apps rely on just one biometric authorisation (like facial or fingerprint recognition) built into mobile devices, usually when opening the app. However, if a pickpocket gains access to the device and changes the registered fingerprint or facial image to their own, this could be bypassed.

Revolut is going one step further with its advanced facial technology. When turned on, Wealth Protection will verify the identity of the user against the selfie ID checks that the customer completed when first signing up to Revolut. This helps to stop fraudsters transfering money out of their Savings & Funds or Pockets — even if their phone security has been compromised. The Wealth Protection feature requires users to opt-in and customers are encouraged to enable it.

Revolut will be one of the first to implement such a Wealth Protection feature and is doing so ahead of a busy summer travel and festival season, bringing with it greater risk for theft at large-scale events and crowded tourist hotspots. Physical theft was responsible for 38% of all unauthorised fraud losses in 2023 and pickpocketing is surging globally.

Customers are also at a heightened risk of ‘shoulder-surfing,’ where fraudsters first identify phone and banking-app passwords and then use this to bypass security measures, as well as having their phone taken whilst unlocked.

Woody Malouf, Head of Financial Crime at Revolut, commented: “We take fraud and financial loss incredibly seriously. With phone thefts on the rise, Wealth Protection is built to counteract theft by providing our customers with that extra layer of security when they’re out and about this summer. Our customers will be able to rest easy knowing that even if their phone is lost or stolen, their funds are more secure.”

Maurice Murphy, General Manager at Revolut Bank UAB – Ireland Branch, added: “Put simply, Wealth Protection is a feature that makes managing money much safer and more reliable. As we continue to further innovate on our market-leading banking experience, our focus will fervently remain on the security of our customers’ money. The increase in balances for our recently launched Instant Access Savings deposit accounts emphasised the growing number of Irish customers that trust us with their money, and this new feature provides them with that extra layer of security, along with greater peace of mind.”

Wealth Protection is launching this month as part of Revolut Secure, which brings together Revolut’s cutting-edge security features to give customers more control over how their money is protected.

Revolut also has robust protections in place for customers behind the scenes including AI models, more than 4,000 trained anti-financial crime professionals and an experienced team made up of fraud specialists, data scientists, and ex-law enforcement. In 2023, Revolut prevented over €550m of potential fraud against its customers globally and is consistently working on updating protections to stay one step ahead of fraudsters.

 

Revolut launches Instant Access Savings in Ireland

Revolut, the global financial app used by more than 40 million customers worldwide, has today rolled-out Instant Access Savings accounts to its more than 2.7 million customers in Ireland. Instant Access Savings accounts are a new and better way for customers in Ireland to save their money. Customers will be able to earn daily, competitive interest of up to 3.49% AER on their deposits, all in just a few taps.

Instant Access Savings complements an existing feature Revolut announced in Ireland earlier this year, which enables customers to invest their cash in money market funds to grow their wealth in either EUR, USD, and GBP.

Instant Access Savings is the newest feature to Revolut’s all-star financial app, where customers will have, upon launch, access to interest on deposits at the following variable annual gross rates: Standard & Plus plans 2% AER, Premium 2.5%, Metal 3%, and Ultra 3.49%.

Revolut’s new Instant Access Savings account gives customers the ability to move their cash into their savings as soon as their salary reaches their account, earning interest on those funds every day, unlike other banks. Customers who would like to earn higher interest rates can upgrade their existing plans from Standard to paid plans in just a few taps within the app.

Instant Access Savings offers savers in Ireland full control too; customers will have access to their funds on-demand whilst earning competitive interest, adding or withdrawing at any time.

Joe Heneghan, Partner & Chief Executive Officer – Revolut Europe, said: “The Irish banking landscape is characterised by some of the lowest deposit rates in Europe, tricky or confusing limits, inaccessibility, and a real lack of competition. Today, Revolut is stepping in with a solution that makes saving money much better and much simpler for the people of Ireland. With our app now the preferred choice for managing finances every day for millions of customers in Ireland, we’re introducing Instant Access Savings accounts to offer customers great rates of up to 3.49%, full control over their money at any time, and interest paid out daily. Now when payday arrives, customers can confidently allocate a portion of their salary to their savings without having to worry about accessing it when they need it.”

Albert Codorniu, General Manager of Savings at Revolut, commented: “This is a key step in our mission to make Revolut the best choice for everyday banking. With daily interest payments and instant-access withdrawals, secured by our fully licensed bank, we’re making it simpler and better than ever for our customers to save and grow their money in Ireland.”

To open an Instant Access Savings account and start earning interest, customers need to:

  • Update their Revolut app to the latest version.
  • Tap on ‘Accounts’
  • Tap ‘Add new’
  • Scroll down and tap on ‘Savings & Funds’
  • Choose ‘Instant Access Savings’.

For more information about the product see product T&Cs. For more information about deposit protection see the deposit insurance page. For more information about complaints and disputes see the complaints policy page.

Revolut bank UAB is authorised by the bank of Lithuania in the Republic of Lithuania and by the European Central Bank and is regulated by the Central Bank of Ireland for conduct of business rules.

For more information, visit: www.revolut.com/en-IE/instant-access-savings 

Revolut launches Flexible Accounts

Revolut, the global fintech with over 35 million customers worldwide, is launching a new alternative to the traditional savings product in Ireland: Flexible Accounts is a smart way for customers to get the most out of their money in times of increasing cost of living. The new Revolut product offers existing and new customers full flexibility, with variable rates of return from 3.50% to 3.95%1 on EUR, the ability to top up and withdraw funds anytime (subject to T&Cs) with smart features including spare change round-ups and recurring transfers, to help them reach their money goals even faster.

When adding money to a Flexible Account, customers are investing in Money Market Funds — offering rates in line with money market rates meaning that, when central bank interest rates are high, Money Market Funds typically offer higher return rates than traditional savings accounts. Customer investments are insured by the Liabilities to Investors Insurance Scheme up to €22,000 (investment risks are excluded from the coverage)2.

Customers will be able to move the money they want to invest into a ‘Flexible Account’ and earn returns overnight. Customers can invest money into their Flexible Accounts selecting between three currencies – EUR, GBP and USD – and hold multiple Flexible Accounts at the same time. The rates of return vary depending on the currency and the subscription plan of the customer. For example, Ultra customers will get up to 3.95% APY for EUR investments, 5.25% APY for GBP and 5.45% APY for USD1. Annual returns are paid daily and customers have the ability to top up and withdraw funds at any time (T&Cs apply).

Albert Codorniu, Head of Savings: “Stretching your savings and making your money go further has never been more important. We’re delighted to offer a product that will help people get the most out of their money. Our Irish customers now have a flexible way to invest their savings in EUR, USD, and GBP, with the convenience of accessing their money whenever needed.

To open a Flexible Account, customers will need to:

Tap on “Savings” in the Revolut app

Tap on “Get started”

Select and confirm currency of the Flexible Account

Accept T&C and sign up for Flexible Accounts by onboarding to Revolut Securities Europe UAB

Decide how much money you want to invest

6 Easy Tips to Master the Art of Coupon Shopping

Coupon shopping is an art that, when mastered, can lead to substantial savings on your everyday purchases. With rising costs of living, every penny saved is a penny earned. But how do you navigate the world of discounts, deals, and markdowns effectively?

In this guide, we’ll share six easy-to-follow tips that will help you take your coupon shopping game to another level. Whether you’re a novice or a seasoned bargain hunter, these strategies will help you make the most of every coupon and deal that comes your way. Get ready to save like never before!

Benefits of coupon shopping

Who doesn’t love a good deal? Coupon shopping is a savvy way to save money on everyday items. From groceries to clothing, coupons can help you shave off a significant amount of your expenses. Whether you’re a seasoned couponer or just starting, the benefits are undeniable. Imagine being able to get your favorite brands at a fraction of the cost! Not only is coupon shopping easy, but it can also become quite addictive.

For starters, coupon shopping can help you stretch your budget and allow you to buy more with the same amount of money. It’s a great way to stock up on essentials without breaking the bank. Additionally, using coupons can also help you discover new products at discounted prices. This is a fantastic opportunity to try out new brands without committing to their full price. No matter if it’s a Kinguin Promo Code or a discount for your local grocery store, coupons bring a whole new world of savings. Plus, let’s not forget the satisfaction of scoring a great deal and saving money!

Understand store policies and plan your shopping trips accordingly

Each store has its coupon policies, which can vary greatly. Some stores allow stacking of coupons or have special days when certain items are on sale. It’s essential to understand these policies and plan your shopping trips accordingly. For example, if you know that your favorite store has a weekly sale on produce every Wednesday, you can plan to do your grocery shopping that day and stock up on fresh fruits and vegetables. Additionally, many stores offer loyalty programs that can earn you extra discounts or rewards for using their coupons.

Be sure to sign up for these programs and take advantage of the benefits they offer. Not only will they save you money, but you may also get access to exclusive deals and promotions. Planning your shopping trips can help you maximize your savings and reduce the chances of missing out on a great deal.

Follow brands on social media for exclusive deals and promotions

Social media has become a powerful tool for businesses to reach and engage with their customers. Many brands now offer exclusive deals and promotions through their social media channels, so be sure to follow your favorite brands on platforms like Facebook, Instagram, and Twitter. You may also want to turn on notifications for these accounts so you don’t miss any limited-time offers or flash sales.

Additionally, many brands also offer special coupons or discounts to their social media followers as a way to reward and thank them for their loyalty. By staying connected on social media, you may discover hidden deals that can save you big bucks on your favorite products. Remember to follow not just the big brands but also local businesses as they often offer unique discounts and promotions for their followers.

Use apps and websites to find the best coupons and discounts

In a time when every penny counts, finding ways to save on purchases has never been more important. Thankfully, the world of technology offers a variety of apps and websites to help us do just that. Gone are the days of clipping coupons from newspapers and magazines. Today, we can scour the internet for the latest deals with just a few clicks. From online coupon codes to cashback offers, these digital platforms make it easy to save some serious cash.

But remember to always double-check the validity of a coupon before using it. The last thing you want is to get to the checkout counter only to find out that your coupon has expired or doesn’t apply to your purchase.

Don’t overlook paper coupons and store flyers

While digital coupons may be more convenient, don’t overlook the old-fashioned paper coupons and store flyers. Many retailers still offer printed coupons in newspapers or mailers that can save you money on your purchases. It’s also a good idea to scan through store flyers for upcoming sales or promotions that you can take advantage of.

Some stores also have physical coupon books that you can pick up at the customer service counter or check-out area. These can be a goldmine of savings, so don’t forget to check them out on your next shopping trip.

Share your savings tips with friends and family

Coupon shopping can be a fun activity to do with friends and family. Not only can you bond over finding great deals, but you can also share tips and tricks. Make it a point to ask your loved ones about their most recent coupon finds or share any new strategies that have worked for you. You never know what insider knowledge someone may have about upcoming sales or hidden deals.

Plus, by working together and sharing your savings tips, you can save even more money on your purchases. It’s a win-win situation for everyone! So, spread the word and help others become coupon-shopping masters too.

In conclusion, mastering the art of coupon shopping is an effective strategy for substantial savings. Understanding store policies, following brands on social media, utilizing digital platforms for the best deals, not overlooking paper coupons, and sharing savings tips with loved ones can transform your shopping experiences and elevate your saving game.

Embrace these strategies and open the door to a world where every purchase brings you one step closer to your financial goals. Remember, every penny saved is a penny earned. So, get started today and look forward to enjoying the fruits of your smart shopping strategies. Happy saving!

Discover Savings with the Ultimate No-Fee Debit Cards

In today’s fast-paced digital era, financial freedom is a sought-after luxury. With the emergence of the no fee debit card, individuals are finding it easier than ever to manage their finances without the burden of unnecessary costs. Let’s explore how these cards have revolutionized the banking landscape and why they’re a boon for the budget-conscious individual.

1. Understanding the Basics: What is a No-Fee Debit Card?

A zero-fee debit card is, as the name suggests, a debit card that comes without any associated annual or monthly charges. Think of it as a financial tool, akin to a Swiss Army knife in the world of camping – versatile, essential, and cost-effective. But instead of aiding in survival in the great outdoors, this card helps users thrive in the modern financial jungle. They work similarly to traditional debit cards but ensure you keep more of your hard-earned money.

2. The Rising Popularity: Why are Zero-fee debit cards Gaining Traction?

Remember the times when you’d get a shock looking at the bank statement, noticing those sneaky fees? zero-fee debit cards are the antidote to such unwelcome surprises. They’re like that friend who always has your back, ensuring you’re not taken advantage of. Their transparent approach, combined with the growing awareness about financial wellness, has seen a surge in their adoption. After all, who doesn’t appreciate more savings and fewer deductions?

3. The Savings Add Up: Financial Benefits of Using a Zero-fee debit card

Imagine if you saved the money you typically spend on card fees every month. Over a year, it could be enough for a small vacation or even a significant addition to your emergency fund. This is the potential power of a zero-fee debit card. It’s akin to discovering a hidden stream in a desert – a refreshing respite from the parched lands of fees and charges. By cutting out these fees, users find themselves with a little extra padding in their wallets, making it a smart choice for the financially savvy.

“Applying for a Chime Debit Card is totally free, and it just takes less than 2 minutes.”

4. A Glimpse into the Future: How Zero-fee Debit Cards are Shaping the Banking World

The banking industry, much like an old tree, is known for its deep roots and resistance to rapid change. However, zero-fee debit cards are like a new, robust shoot sprouting from this tree, bringing with it the promise of a fresher, more accessible financial future. Their increasing demand is pushing banks to reevaluate their fee structures and customer-centric approaches, ushering in a new era where the customer truly feels valued and prioritized.

5. Making the Right Choice: Tips for Selecting the Perfect No-fee debit card

With numerous options flooding the market, how does one pick the right zero-fee debit card? It’s like choosing the best pair of shoes for a marathon – you want the perfect fit without blisters (or fees). Look for cards that offer additional benefits like rewards or cashback, have widespread acceptance, and come with robust security features. Also, always read the fine print. Doing your research ensures you truly find the card that’s tailor-made for your financial journey.

Zero-fee debit cards are not just a fleeting trend; they’re a testament to the evolving banking world’s dedication to customer convenience and value. As more individuals become conscious of where every penny goes, these cards stand out as a beacon of hope, ensuring every transaction is as smooth and fee-less as possible. So, isn’t it time you dived into the world of savings with the ultimate zero-fee debit card?

Europe’s largest broker Trade Republic, launches savings accounts with 8 times higher interest rate

Trade Republic, Europe’s largest savings platform, is now giving its  customers 2 percent p.a. interest on their cash balance. This enables them to easily benefit from the  increased ECB rates. Trade Republic offers a market leading effective interest rate for both new and  existing customers. This offer is not time limited and holds until further notice. The interest is  calculated in real time and paid out monthly, thus enabling customers to accrue compound interest.  With the introduction of the interest, Trade Republic now doubles down on its mission to set up its  customers for long-term wealth creation and saving up for retirement.

“With 2 percent effective annual interest per year, we are passing on the benefits of the new interest rate  environment directly to our customers. Every investor can now benefit directly and easily from interest”,  says Christian Hecker, Co-Founder of Trade Republic. “Exactly four years ago, we were among the first  providers in Europe to introduce commission-free investing. Now, we are taking another step on our  mission to make wealth accumulation possible for everyone. Today, Trade Republic is the most attractive  place to save and invest your money.” 

With the European Central Bank rising rates, reversing a multi-year trend of negative rates, interest based savings have once again become attractive. Trade Republic is the first broker to seize on the  opportunity to pay interest on all customers’ uninvested cash assets. With an effective annual interest of  2 percent p.a. for all existing and new customers, Europe’s largest savings platform clearly sets itself  apart from the competition. The duration of the offer is not limited and the interest rates will be valid until  further notice. The interest income is calculated in the app in real time and credited monthly. The offer  applies to cash balances of up to EUR 50,000. The customer funds are protected up to EUR 100,000 by  the deposit guarantee schemes (DGS). 

A Trade Republic account can be opened in only five minutes in the app or via desktop. Customers can  invest in Europe’s largest ETF savings plan offering free of charge. In addition, Trade Republic also offers  fractional trading for almost all stocks. This allows customers to invest any budget, including highly priced individual stocks such as Booking.com or Warren Buffett’s Berkshire Hathaway.

Trade Republic  is active in 17 European countries and is supervised by BaFin and Bundesbank.

ABOUT TRADE REPUBLIC 

Trade Republic is on a mission to set millions of Europeans up for wealth creation with secure, easy and  commission-free access to capital markets. With over one million customers, Trade Republic is already  the home screen app for many Europeans to manage their wealth. It offers investing in savings plans,  fractional investing and ETFs as well as derivatives or crypto. Trade Republic is a technology company  supervised by Bundesbank and BaFin. As Europe’s largest savings platform, Trade Republic has received  investments by Accel, Peter Thiel‘s Founders Fund, Ontario Teachers‘, Sequoia and TCV. The company  based in Berlin was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.