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UK fintech Revolut launches in Australia

Friday 14 June 2019 | 10:54 AM CET

European fintech Revolut has become the latest neobank to launch in Australia.

Revolut opened a beta version of its local app; the fintech will offer Australian users the opportunity to hold up to 15 different currencies - including the Australian, New Zealand and US dollars, the British pound and euros - and transfer between them.

Revolut clients will be able to access their funds via a Visa card, and the app comes with money management features.

Revolut's app lets people set spending limits and monthly budgets on categories like restaurants, groceries and transport, as well as transfer money to other Revolut users instantly.

It also gives users a way to save by rounding up purchases and putting the change into savings.

Other features available in Europe - including business accounts, stock trading, cryptocurrency support and additional currencies - will come within another 12 to 18 months.

More: Link