The offer gives you unlimited calls, texts and domestic data for an introductory £12.50 per month. If you are travelling abroad, you can also use up to 20GB of roaming data in any EU country and the US.
The deal will be launched later this year, according to Revolut, and it requires no contract, as well as allowing customers to transfer an old number should they wish to.
Last year, the fintech company – which also gained its banking licence last year – entered the mobile phone ring with an eSIM, which lets you activate a mobile data plan from a provider without using a physical SIM card.
Since then, phone users abroad have used the SIM in over 100 countries, with the bank aiming to help customers avoid huge roaming charges while on holiday in over 100 countries.
Once the Revolut network is up and running, customers can pay for their plan with the banking provider’s loyalty scheme ‘RevPoints’.
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RevPoints are accrued with purchases using your Revolut card, depending on your plan.
The challenger bank is the first banking provider to launch a mobile network in the UK, while customers in Germany will also be able to purchase a plan.
‘Customers are suffering with traditional network offerings’
Hadi Nasrallah, general manager and telco and retail director at Revolut, said: “The massive success of our eSIM product launch has proven mobile offerings are ripe for disruption.
“In our view, consumers are suffering with traditional network offerings due to a lack of transparency with hidden fees, painful customer experience and [an] old, difficult-to-navigate user experience.
“We’re looking to solve all three, providing Revolut customers with a tech-led experience, the best value and no fixed contract commitments. It’s yet another step for Revolut into the consumer telecommunications arena, where innovation is desperately overdue, and we look forward to bringing this update to consumers in more markets soon.”
Tom Lyon, director at Compare the Market, described the deal as “a very strong offer for consumers, particularly frequent travellers.”
Lyon said: “Unlimited calls, texts, and domestic data for just £12.50 a month is highly competitive, and the inclusion of 20GB of roaming data across both the EU and US stands out, as many providers still exclude US roaming at this price point.
“The lack of a fixed contract also adds flexibility, making it an attractive option for people looking for both value and freedom.”
He added: “That said, it’s always worth shopping around; with a wide range of phone and data packages now available, the right deal for you will depend on your usage habits, need for roaming, and whether you want extra perks like streaming or tech support included.”
