Revolut launches new premium plan ‘Ultra’

Revolut is launching its new “ultimate” membership card, Ultra, that will replace Metal as its top-tier plan.

There are more than 430,000 people on the waitlist in the UK and Europe for the platinum-plated card, which Revolut is positioning as a card of luxury and lifestyle.

At £540 a year, Revolut says the card offers up to £4,100 benefits in return, including subscription bundles with partners for offers on newspapers, exercise classes, VPNs and co-working spaces worth more than £2,000.

Harkening back to Revolut’s origins, customers will also have access to unlimited fee-free international money transfers and unlimited foreign currency exchange in more than 30 countries.

“In response to our customers’ demands, we’re launching this new bespoke membership that we envision as the ultimate travelling and lifestyle companion,” Revolut general manager of premium products Tara Massoudi said.

“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.”

According to Revolut, an increasing number of their customers have an interest in travel, lifestyle and investment products that “offer top-of-the-line experiences”. 

As part of their new offering to meet this demand, Ultra, which sits a step up from their other paid-for membership tiers – Plus, Premium and Metal, offers members access to more than a thousand airport lounges, flexible travel insurance and cashback on stays booked through the app, similar to the perks of Metal membership.

Users will also have access to a premium Financial Times subscription, three WeWork entries per month, 20 ClassPass credits a month and a NordVPN complete plan.

“This growing consumer market is redefining luxury, making it more functional and present in day-to-day life,” Massoudi said.

“They want to build a steady passive income, but also enjoy life, keep up to date with the latest trends and travel the world.”

Customers that joined the waitlist will be sitting pretty with 5 per cent cashback on all purchases in their first month (capped at a monthly price plan).

Ultra members will earn up to 0.1 per cent cashback in Europe and the UK and 1 per cent everywhere else, while freelancers and Revolut Pro users will get 1.2 per cent cashback on Pro payments.

There will also be annual interest paid daily on savings of 3 per cent AER in GBP and 3.54 per cent AER in USD, which are the same as the £12.99 a month Metal plan.

The plan is a significant step up in price from its next most expensive plan — nearly 3.5 times more.

Many of the perks are similar when it comes to its travel savings and protections and everyday benefits, but it does offer a significantly expanded range of luxury benefits that could make the step up worth it, if you plan to use all of them that is.