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Revolut rolls out free rewards scheme for users

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10/03/2020
Revolut has launched a perks feature to all UK customers giving them cashback and discounts at selected retailers.

The digital bank has rolled out its perks feature to all UK customers, allowing them to unlock discounts and cashback on a number of brands once they make several transactions from their accounts.

Previously, the perks were only available to paying Revolut Premium and Metal users. They were rolled out to standard users on a trial basis last year. Since then, Revolut has launched ‘perks plus’ for Premium and Metal customers, offering bigger discounts and cashback offers that last longer.

Currently, only standard perks from Trainline, National Express and HelloFresh are on offer, however, customers can unlock discounts and cashback from other brands once they use their Revolut card 10 times. There’s no minimum spend.

Categories include flights, hotels, train journeys, food and drink, health and beauty, and fitness, and the level of discount and cashback will differ, along with how many times they can be used at a particular brand.

There’s no additional cost to customers but they do need to download the latest version of the app by the end of March to access three ‘welcome’ perks. Revolut says it uses ‘data science’ to identify which perks are relevant for users and they will receive a notification once a new reward becomes available.

Instant discounts can be applied at the merchants when users pay with their Revolut card, online or using Apple Pay or Google Pay.

Customers will need to tap through to the store via the Revolut app, or redeem a discount code.

When it comes to the cashback, customers will receive a certain percentage of their purchase price back when using the Revolut card at the retailer, as long as the perk is active. The cashback will be credited automatically to accounts, though it can take days or weeks for this.

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 10 million customers globally.

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