With Flexible Cash Funds customers invest in a money market fund of their choice. The interest rates vary depending on currencies and the performance of the fund, from 4.08% to 5.35% variable annual interest on USD through Flexible Cash Funds. Customers can top up their Flexible Cash Funds in EUR, USD, and GBP, as well as withdraw funds at any time. Customers’ investments are insured up to €22,000 by the Lithuanian Liabilities to Investors Insurance Scheme.
Revolut, the global fintech with over 45 million customers worldwide and close to 4 million in Romania, is launching a new addition to its money growth tools portfolio in the local market: Flexible Cash Funds is a smart way for customers to invest, grow interests and put their money to work.
The new Revolut product offers existing and new customers full flexibility, with variable rates of interests from 4.08% to 5.35% (1) on USD, the ability to top up and withdraw funds anytime (subject to T&Cs) with smart features including spare change round-ups and recurring transfers, to help them pursue their money goals seamlessly.
When adding money through Flexible Cash Funds, customers are investing in a money market fund of their choice — offering rates in line with money market rates meaning that, when central bank interest rates are high, the yield of the fund is similarly high (and vice versa). In such scenarios, money market funds typically offer higher interest rates than traditional savings accounts although capital and interests are not guaranteed, these money market funds have the lowest risk rating amongst this kind of investments (1 out of 7).
Customer investments are insured by the Lithuanian Liabilities to Investors Insurance Scheme
up to €22,000 (investment risks are excluded from the coverage) (2) .
With Flexible Cash Funds, customers will be able to invest into a money market fund and earn
interest overnight pending on the performance of the fund. Customers can invest in three currencies – EUR, GBP and USD – and hold multiple portfolios at the same time.
The interest rates vary depending on the currency and the subscription plan of the customer. For example, Ultra customers can get up to 3.76% APY for EUR investments, 5.20% APY for GBP and 5.35%
APY for USD (1). Annual interests are paid daily in line with the fund’s performance and customers have the ability to top up and withdraw funds at any time (T&Cs apply).
According to a recent study by Dynata for Revolut, 46% of Romanian consumers are satisfied with their overall investment, and 20% said they were pleased with their investment because they always achieve their objectives. 15% of the respondents declared that they were satisfied with their investment because this improves their financial situation, while the same proportion of the respondents said that they are not satisfied, as they have a lot of financial stress and rarely have the funds to invest. 29% of the Romanian participants in this survey said that they invest less than EUR 100 per month, and 27% investing between EUR 100-500 (3).
Albert Codorniu – Head of Savings: “Stretching your savings and making your money go further has never been more important. We’re delighted to offer a product that will help people get the most out of their money. Revolut Romanian customers now have a flexible way to invest their savings with low risk in EUR, USD, and GBP, with the convenience of accessing their money whenever needed”.
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(1) Annual Percentage Yield (APY) is shown net of fees as of 18/07/2024 but varies daily, it is based
on information provided by the fund manager. The applicable APY depends on your subscription
plan and respective fees, the low-end is offered to Standard plan users and the high-end to Ultra
plan users.
(2) All cash and investments held with Revolut Securities Europe UAB are covered up to €22,000 by the Lithuanian Liabilities to Investors Insurance Scheme in the unlikely event of the liquidation of Revolut Securities Europe UAB, and failure to protect your assets, more information available on our website.
(3) The survey was conducted by Dynata on behalf of Revolut, in March 2024, on a sample of 1,000
Romanian respondents. The sample was representative of the Romanian adult population, by age,
gender and residence.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
