Revolut has officially launched its digital bank in the US with tens of thousand of customers downloading the app already.
The fintech app, which lets users send and request money between accounts, has more than 10 million customers in the UK and Europe.
Much like its competitors such as Monzo, users can split bills and round-up purchases to save spare change. It provides quick notifications for users to monitor their spending for groceries, entertainment and other areas.
“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,” said Revolut founder & CEO, Nik Storonsky. “They should have the tools to help them manage their money more conveniently and accurately.”
In addition, US customers will be able to transfer cash worldwide using international exchange rate.
The app offers 28 currencies and plans to add crypto currencies and commission-free stock trading.
Using the app is easy. Simply install it on iOS pr Android, enter your personal details, take a photo of ID documents and await a quick verification.
You can set up an allowance for the month and when this is spent the account card can be frozen to avoid you from spending more.
Revolut even provides disposable virtual cards which can be used for more secure online payments.