Does Revolut Still Have Vaults and What Are the Options

Revolut still offers a range of vault options to help you save and organize your money.

In 2019, Revolut introduced Vaults, a feature that allows you to set aside money for specific goals or expenses. You can think of it as a digital piggy bank.

Revolut's Vaults are available in various denominations, including £100, £500, and £1,000.

Suggestion: Bank Vault Money

Revolut offers a Savings Vault product that earns 0.7% annual interest paid daily.

This interest rate is paid daily, helping customers reach their financial goals faster.

With Revolut, you can set up a new Savings Vault account in just a few taps with no minimum deposit required.

Withdrawals can be made at any time, and annual interest is paid daily.

Your savings are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS).

Revolut's Savings Vault offers several features to help you grow your savings, including:

Automated Savings is a game-changer for anyone looking to build a safety net or save up for a big purchase. With Revolut's automated savings features, you can set up a system that works for you and helps you reach your financial goals.

You can set up regular contributions to your Vault, such as daily, weekly, or monthly transfers, ensuring consistent growth of your savings. This means you can automate your savings and make it a habit.

One way to automate your savings is by rounding up spare change from your everyday purchases. For example, if you spend €2.70 on coffee, €0.30 is automatically saved. This can add up over time and help you build a savings habit.

To make the most of automated savings, you can set up a recurring deposit to your Vault. This can be a fixed amount, such as €100 per month, or a percentage of your income.

Revolut has launched an update to its Savings Vault product, offering 0.7% annual interest paid daily to help customers reach their financial goals faster.

Revolut Metal customers in the UK can now earn 0.7% interest (AER) paid daily on their Savings Vaults in GBP, making it a market leading interest rate.

Savings Vault offers true flexibility, with no minimum deposit amount and withdrawals that can be made at any time. Annual interest is paid daily, and customers' savings are protected up to £85,000 under the FSCS.

You can round up your card payments to the nearest whole number and instantly save your spare change, or opt for recurring deposits or one-off payments to track progress towards your saving goal.

To make the most of this feature, you can set up regular contributions to your Vault, such as daily, weekly, or monthly transfers, ensuring consistent growth of your savings.

Here's a quick rundown of the key benefits of Revolut's Savings Vault:

Revolut's Vault feature adds an extra layer of security to your finances. Funds stored in the Vault are separate from your main account balance, making it harder to make impulsive withdrawals.

This separation of funds is a key benefit of the Vault, as it reduces the risk of overspending. By keeping your money in the Vault, you're less likely to dip into it for everyday expenses.

The Vault also provides an additional layer of protection against unauthorized transactions. Since funds are not readily accessible for everyday spending, you're less likely to fall victim to scams or phishing attempts.

In short, the Vault is a secure and separate space for your money, helping you stay on top of your finances and avoid unnecessary risks.

You can contribute to a Group Vault in different ways, including making one-off deposits, setting up a recurring payment, or rounding up spare change from everyday purchases.

The administrator of the savings pot can adjust settings at any time to allow flexibility for members of the group in terms of how much money they are able to contribute.

There are no minimum deposit amounts for Group Vaults, and members can contribute as much or as little as they like.

To make it easy for users to grow their savings, Revolut's Savings Vault product also enables users to round-up their card payments to the nearest whole number and instantly save their spare change.

The administrator of the Group Vault is responsible for managing the group, including setting targets, adding or removing members, and being the only person capable of withdrawing money from the pot.

Here are the key features of Revolut's Group Vaults:

Revolut's Savings Vault product also offers a competitive interest rate of 0.7% annual interest paid daily, making it a great option for users looking to grow their savings over time.