The fintech revolution has reshaped the landscape of the traditional financial industry, giving rise to startup banks – ‘challenger banks.’ The so-called challenger banks have disrupted the traditional high-street banks and provide efficient and personalised banking experiences.
Notably, the emergence of these challenger banks has also caused a global disruption, as they traverse borders and are unencumbered by the constraints of legacy business models and core systems.
Further, this new wave of digital banks is offering reimagined products and insight-driven experiences that today’s digitally savvy customers want.
The UK is home to some of the famous challenger banks like Revolut, Monzo, Starling Bank, and Curve. The competition has been heating up lately as they are coming up with innovative services leveraging the latest technologies.
In this article, we have compared two innovative fintech companies – Revolut and Curve based on their features and subscription packs. Do check it out!
What is Revolut?
Funding: £718M
Founded by Nikolay Storonsky and Vlad Yatsenko in 2015, Revolut is a London-based financial services company that specialises in mobile banking, card payments, money remittance, and foreign exchange.
Aim: The company is on a mission to help customers improve their financial health, give them more control, and connect people seamlessly across the world.
With over 2,000 people in 23 offices, Revolut is now one of the biggest Fintech communities in the world, with over 15 million customers globally. It is available on both Google Play and Apple.
Why should you select Revolut?
- One of the best features of Revolut is it can hold around 29 currencies.
- Since it is app-based banking, users can control the card fully from freezing to categorising to the instant notification.
- Offers free money transfer to other users
- No foreign exchange fee while spending aborad
- Option to put money aside in a vault to save and earn interest from it
- Users can buy, sell, and hold cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and others.
- Supports multi-currency accounts, travel benefits, and insurance options as well.
Subscription plans
Revolut offers four subscription plans:
- Standard: Free
- Plus: £2.99/month
- Premium: £6.99/month
- Metal: £12.99/month
What is Curve?
Funding: £138M
Founded by Anna Mostyn-Williams, Shachar Bialick, and Tom Foster-Carter, Curve is an over-the-top banking platform, consolidating multiple cards and accounts into one smart card and app.
Aim: The company is on a mission to simplify the way people spend, send, see and save money.
The London-based fintech company offers a host of benefits to its customers right from the categorisation of spends to earning instant 1% cashback. Like Revolute, the app is supported on both Android and iOS platforms.
Why should you select Curve?
- Offers 1% cash back at the likes of Amazon, Uber, Netflix, and Sainsbury’s.
- Supports Time Travel that enables customers to swap spend to a different card in the app for up to two weeks after the purchase was made.
- Users can get travel and electronic device insurance
- Can gain access to 1000+ airport lounges across the globe with Lounge key.
Subscription plans
Curve offers three subscription plans:
- Curve Blue: Free
- Curve Black: Costs £/€ 9.99 per month
- Curve Metal: Costs £/€ 14.99 per month (or £/€150 per year!
Quick overview
Conclusion
As you can compare from above, Revolut takes the crown! Revolut offers various features like a savings account, Cryptocurrency, Joint account, Multiple, currency account, and much more. On the other hand, Curve emphasises the single-card solution. However, Curve may offer more features in the future, but Revolut has a better product portfolio as of now.
The post Revolut vs Curve: Which one is best for you? appeared first on UKTN (UK Tech News).
