Revolut with a new service. Especially at the request of customers
It turns out that Revolut is listening to its customers, at least when it comes to introducing new things. In the UK, it has just launched cash deposits, during a visit to a store.
Revolut is developing very dynamically. Quite recently we wrote that it intends to develop a network of ATMs at the airport, now it has taken on the possibility of topping up an account using cash in a store. For now deposits can be made in Great Britain, at 12 thousand points where the PaySafe service is available (known here as PaySafecard). But that’s not all, the company plans to launch the service for everyone in the UK and then expand to other markets. Gradually, it will be introduced in countries in the European Economic Area. When will it come to us? No specific date has been given yet.
Although Revolut is mainly used for digital payments, research has shown that 71 percent of customers deposited cash into another bank during the year, and 34 percent would like to have this opportunity at least once a month.
With such high demand for cash deposits among our customers, Revolut is pleased to be responding to yet another customer request for a product and helping those with cash to access modern digital financial services. Our solution meets a clear customer need: by partnering with PaySafe, we can offer a fast, easy-to-use service that will enable thousands of people to deposit cash into Revolut from multiple locations.
– says Gabor Hava, Chief Payments Officer at Revolut.
Cash deposits are possible after opening the Revolut app. You should select the options “add money” and “deposit money”. The user enters the amount they wish to deposit, and the application will generate a dedicated code valid for 30 minutes. This code should be scanned in the store. As proof of payment, we will receive confirmation of the receipt of funds in the app. The minimum deposit amount is currently 10 pounds (50 PLN), and the maximum is 500 pounds (2,500 PLN). There are also daily and monthly limits. The fee for the deposit is 1.5 percent, with the first deposit up to 100 pounds being free.
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