Revolut launches ‘Subscriptions’ feature
To use the feature, account holders need to link their payments to their Revolut card. Revolut will list any recurring payments in the Subscriptions feature, with users able to mark any payments that haven’t automatically been added to complete the list.
By using Subscriptions, users can see how much money they are spending on each scheduled payment, and with each individual merchant.
Account holders can block and unblock any subscriptions and payments, at any time in the payment cycle.
Customers will receive a notification before their scheduled payments are due to go out, giving them full control over where their money goes and greater oversight over their balance.
They will also get notified if there’s not enough money in their account to cover a scheduled payment, so they have time to top up their account or block the payment.
Revolut has recently rolled out a suite of new products to give customers more control and full visibility of their spending.
In June it added American Express to its open banking feature, allowing customers to check their balance and transactions in the app.
In March it rolled out a perks feature to all UK customers giving them cashback and discounts at selected retailers.
Revolut also launched a savings account in January.
How do I get Subscriptions?
Revolut users need to make sure their smartphone app is updated to the latest version (7.19)
Subscriptions is then in the Payments tab in the app.
Revolut launched in 2015 with a prepaid currency card for travellers but has since branched into other areas including money transfer, stock trading and savings.
It is one of the highest valued fintech firms in the world with over 12 million customers globally.