Over 430,000 Revolut customers in the UK and EEA have registered for Ultra’s waitlist following the initial announcement last winter. They will be progressively invited to unlock Revolut’s ultimate plan, upon availability. Customers joining the waitlist and opting for the annual fee of £540 per year, will receive 5% cashback on purchases in their first month (capped at monthly plan price).
Revolut, the global financial app with 30 million customers worldwide, launches its new ultimate membership plan, Ultra. „With over 430,000 people on the waiting list in the UK and Europe, this new top-tier plan boasts exceptional perks and aims to spearhead a new category of refined luxury.” – according to the press release.
Platinum lifestyle
When it came to designing its most precious card ever, Revolut had only one thing in mind – platinum.
The platinum-plated card speaks for itself, and it comes with an extended list of elite benefits including subscriptions with Ultra partners such as Financial Times, NordVPN, WeWork, ClassPass and more, unlimited fee-free international money transfers, 1.2% cashback on Revolut Pro, and 24/7 member support.
„Ultra cards will be exclusively Mastercard, marking another milestone for the partnership, in which Mastercard is supporting Revolut’s expansion.” says the company.
Ultra also offers purchase protection of up to 10,000 GBP/EUR a year on stolen or damaged items within a year of purchase, cancelled event protection of up to 5,000 GBP/EUR and refund protection of 600 GBP/EUR on eligible purchases within 90 days of purchase (Insurance T&Cs apply).
Ultra is designed to be the ultimate travel companion, making every step of the journey smoother. Ultra members will have unlimited access to 1,400+ airport lounges worldwide which include food, drink and exceptional service. And if travel plans change, Ultra offers ‘Cancellation for Any Cause’ insurance. This gives customers freedom and flexibility when travelling, and it’s worth £420* based on estimated travel activity. Regardless of their reason for cancellation, Ultra members will be refunded up to £5,000/€5,000 per year for flights, trains, accommodation or events (Insurance T&Cs apply).
Ultra account holders will also be able to travel the world with peace of mind knowing they have worldwide emergency medical and dental cover, including winter sports. Ultra travel insurance also includes cover for car-hire excess, lost or damaged baggage, delayed flights and personal liability (Insurance T&Cs apply).
Additionally, Ultra members that book accommodation with Revolut Stays (Revolut’s accommodation booking feature) will receive up to 10% cashback. Ultra customers can spend like locals with unlimited foreign currency exchange in 30+ currencies, and transfer unlimited amounts of money at great exchange rates, with no fees between Monday and Friday.
Customers are also offered 2,000 GBP/EUR in ATM withdrawals with no extra fees charged by Revolut worldwide saving an estimated £40+ worth of fees per year. Subscription bundles for elevated lifestyle experiences Ultra also allows customers to access an ultimate subscription package, gathering a range of brand memberships together.
„This offer is unique to the market, with lifestyle features and benefits that if fully used by a customer will effectively earn back the cost of the plan for customers. These include access to subscriptions from brands including Financial Times Premium, 3 entries per month with WeWork, 20 credits per month with ClassPass, a NordVPN Complete plan and more – with a total retail value of £2,100+ a year.” the company explains.
Ultra also offers the best wealth limits by Revolut. Crypto fees have been reduced with 0.49% per crypto trade versus 1.99% on Standard (Not regulated or protected. Value can go down. Tax may be payable).
Attainable luxury
Ultra’s price is £540 per year for UK (Ultra fees details) customers to access this incredible range of benefits, which offer up to £4,100 of benefits in return, including exclusive lifestyle and travel benefits.
On top of this, customers joining the annual plan via the waitlist will receive 5% cashback on purchases within their first month (capped at the monthly plan price, T&Cs apply). After this initial period, Ultra members can earn up to 0.1% cashback within Europe and the UK and 1% everywhere else in the world. Last but not least, freelancers and Revolut Pro users will enjoy 1.2% cashback on their Pro card payments.
Tara Massoudi – Revolut General Manager of Premium Products, said: “An increasing number of our customers are interested in travel, lifestyle & investment products that offer top-of-the-line experiences. This growing consumer market is redefining luxury, making it more functional and present in day-to-day life. They want to build a steady passive income, but also enjoy life, keep up to date with the latest trends and travel the world.”
“In response to our customers’ demands, we’re launching this new bespoke membership that we envision as the ultimate travelling and lifestyle companion. Revolut has put together a one-of-a -kind offering, second to none in Europe. This unique card and membership plan was ultimately designed for those who enjoy the finer things in life.”
Scott Abrahams – Executive Vice President Channel Partnerships, Mastercard added: “This unique premium offering will connect Revolut customers to the travel and lifestyle benefits that they love. It’s the latest milestone in our partnership, creating innovative products and safe, secure ways for Revolut customers to pay.”
*The value displayed has been calculated based on the standalone financial value of new Ultra benefits (e.g. included partnerships), added with the value of savings made on charged fees for benefit usage (e.g. reduced remittances fees) in comparison to Standard plan fees. The latter is informed by the average use of each existing benefit by our top 10% of Metal customers during 2022. The overall value can be realised from using each plan benefit throughout a one-year period. Please see the plan terms for a full plan benefit breakdown.
The trip and event cancellation insurance value is for illustration only based on the same customer sample as above, and their average annual spent on flights purchased with Revolut (£1,672.32) and bookings made through Revolut Stays (£1,340.30), equalling to £3,012.62 per year. A cancellation rate of 20.6% based on Revolut Stays data was applied and is the assumed factor for total trip cancellations (incl. flights). Value assumes all submitted claims qualify for 70% reimbursement. Please note this is an illustration only based on no product performance data being available to date. Maximum value will depend on user behaviour and can be derived up to the per claim and annual policy limit. Please refer to Insurance T&Cs for details and claims submission criteria.
Value of travel insurance is based on a standalone multi-trip, family travel insurance price provided by our insurance partner and not on usage.
AER stands for Annual Equivalent Rate, which reflects the interest rate, plus all interest payments made throughout the year. Gross means the interest rate without tax deductions.
The 5% cashback offer will be available to customers who join the Ultra waitlist and upgrade to Ultra within 1 month of being invited. Cashback will be redeemable on purchases made with physical or virtual cards, but the total amount of redeemable cashback will be capped at the monthly plan price, and will be recovered if a customer downgrades within the first 14 days of being on the plan. T&Cs apply.
Banking 4.0 – „how was the experience for you”
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