Revolut Ultra is the latest subscription plan from the fintech. But is it worth the high monthly fee?
With over two million customers in Ireland alone, there are very few adults who aren't users of Revolut these days.
And while most of us are familiar with Revolut's free standard account, the fintech does offer an increasingly large number of paid-for subscriptions. The latest of which is Revolut Ultra, which has just been launched.
So what does it offer and is it worth the big monthly fee?
Tell me about Revolut Ultra
Revolut is charging €45 a month or €540 a year for access, which isn’t exactly cheap, but it does come with a host of features and benefits which Revolut says adds up to €4,700 a year.
Its standard account remains free of charge.
While there are some new benefits, most of them are the same as those on Revolut’s other paid plans, just at a higher level.
For example, Ultra members now get purchase protection insurance for up to €10,000. This covers you in the event an eligible purchase gets accidentally damaged or stolen within the first year.
Cancelled event insurance is now to the value of €5,000. Under this feature, if your plans fall through and you can’t make it to a concert or an event, you’ll still be able to get your money back for tickets purchased through Revolut.
And Ultra account holders also have access to extended 90-day refunds on eligible purchases for up to €600 on any one item. That means if you buy an item you can return it for up to 90 days, regardless of the returns policy of the retailer. However, you will need proof of purchase from your Revolut account, your receipt from the retailer, and proof that the retailer refused to take back the item. You may also be required to return the item in its original packaging.
Parents and guardians who sign up to Revolut Ultra will also be able to add up to five children to Revolut <18, the money app for kids.
- A Platinum-plated Mastercard
- Unlimited access to over 1,400 airport lounges worldwide, which includes complimentary food and beverages while you’re there
- Unlimited foreign currency exchange
- Unlimited fee-free international money transfers
- A free subscription to the Financial Times
- Worldwide emergency medical and dental cover, including winter sports cover
- Cover for lost luggage and delayed flights
- Up to €2,000 a month in fee-free cash withdrawals worldwide
- 0.1% cashback on purchases in Europe and 1% elsewhere (capped per month at the cost of your plan)
- Up to 10 commission-free stock trades a month
As well as all this, Ultra account holders who book their accommodation with Revolut Stays (Revolut’s accommodation booking feature) will receive up to 10% cashback.
And of course, you’ll also get access to Revolut’s standard account features such as secure online spending with virtual cards, Google, Apple and Fitbit pay, free day-to-day banking, analytics on your spending, and the ability to apply for loans and credit cards.
Customers can sign up to Revolut Ultra today, or any one of its subscription plans, in the Revolut app.
Is it worth it?
It really does depend. €45 a month definitely isn’t cheap and to get value out of the account you really need to do your research to see whether it’ll be worth it for you. As Revolut itself says - it’s targeted at the luxury end of the market. And it’s priced accordingly.
If you’re a heavy traveller, either for business or pleasure, then you’ll get value out of the airport lounge access and the travel insurance. It might also be of benefit if you invest in the stock market a lot and read the Financial Times.
But if you already have travel insurance - either through your home or car insurance provider - or overseas medical insurance with your health insurance, then make sure you’re not double paying.
And the payment protection insurance will come with a lot of T&Cs. Mainly that you have to have purchased using your Revolut card. But read up on all the others.
An increasing number of our customers are interested in travel, lifestyle and investment products that offer top-of-the-line experiences.
In response to our customers’ demands, we’re launching this new bespoke membership that we envision as the ultimate travelling and lifestyle companion. Revolut has put together a one-of-a-kind offering, second to none in Europe. This unique card and membership plan was ultimately designed for those who enjoy the finer things in life.
Tara Massoudi, Revolut General Manager of Premium Products
Recent Revolut news
Revolut has been in the news lots over the past few months. If you missed any of Revolut’s updates, take a look at the following:
- Earlier in the year Revolut launched joint accounts; a feature long requested by users!
- And in May, Revolut started offering Irish IBANs, making it easier for customers to use Revolut as their main bank account.
- And the fintech also recently started offering a credit card.
You can stay up-to-date with all the latest Revolut news on our blog.
Let’s hear from you
What do you make of the new Revolut Ultra account? Would you consider signing up? Let us know in the comments section below.
You can also get in touch with us over on social media.