By Aisling Finn on Tuesday 6 October 2020
Users will be able to block and unblock unwanted subscriptions all from the Revolut app
Digital banking app Revolut has today launched a new subscriptions feature in a bid to help its customers reach financial transparency.
Revolut’s users will now be able to track all subscriptions, direct debits and recurring payments in one place and will be able to block and unblock unwanted subscriptions at the touch of a button.
Customers will receive a notification just before a payment is due to be taken and will also be notified if there’s not enough money in their account to cover a scheduled payment, giving them enough time to top up their account or block the payment.
Revolut’s smart subscriptions will help users see all their subscriptions in one place, meaning it’s easier than ever to catch that recurring HelloFresh subscription just before the free trial runs out.
The new feature is the latest in a string of updates from Revolut to help give their customers more control over their finances in its ‘super app,’ including using open banking, budgeting and analytic tools to increase financial transparency.
Other fintechs, such as Nordic challenger bank Lunar, have also introduced a similar feature.
The challenger partnered with Nordea-backed fintech Subaio to provide Lunar’s premium customers with the ability to manage and unsubscribe from subscriptions they don’t want all within the Lunar banking app.
Just yesterday, Revolut launched a fee-paying premium metal account for its Business customers, after having reached the milestone of 500,000 SME customers.
Early last month, Revolut also officially launched in Japan, roughly two years after first obtaining a licence to do so, as it continues to expand across the globe.
