A ‘streamlined’ version of the Revolut app is to be made available in five new countries, enabling consumers to access secure money transfers alongside the app’s other financial services.
Customers in Sri Lanka, Chile, Ecuador, Azerbaijan, and Oman will now be able to leverage the app to transfer money to various countries worldwide.
Slated to launch within additional regions by the end of the year, with the arrival of additional features expected to accompany the move, Revolut is continuing the expansion of its brand.
Revolut has levelled its remittance service on its own money transfer infrastructure, allowing customers to send and receive money efficiencies. The app provider has subjected its services to no fees, just as long as transfers are made between two Revolut customers, whilst transfers to non-Revolut accounts incur a one per cent fee with a $1 minimum fee for customers in these five new countries.
Any transfer fee will be displayed in the app before a customer confirms the transfer, and a ‘competitive’ exchange rate will allegedly be offered for international transfers.
With the ambition to serve expats and international students, Revolut will enable customers in additional countries to make international transfers in 30-plus currencies; starting in the next couple of months.
“We’re delighted to launch the Revolut app in another five countries, as we continue to expand access to Revolut’s fast, secure, and easy money transfers to countries around the world,” comments Revolut’s chief technology officer Vlad Yatsenko.
“Revolut is redefining how to send and receive money by simplifying the process of international transfers, offering competitive fees, and always providing the best possible exchange rate.
“Traditional transfers can sting customers with hidden fees, but we’re waiving all our transfer fees if you’re both on Revolut — no matter where you are. Additionally, we’re always offering the best possible exchange rate that we can – something we’re extremely proud of.”
The app has established a waitlist for its new service, with select customers being offered early access.