As countries start easing restrictions and more international flights become available, perhaps it’s time – finally! – to get ready by getting your travel smarts on. Besides staying updated on the requirements for leaving and re-entering Singapore, it can be useful to have a payment app that will come in handy when unexpected situations happen when you’re travelling. Whether it’s obtaining foreign currency or exchanging currencies at the interbank rate, Revolut wants to be just that.
What is Revolut?
It’s a financial services and payments app for your foreign currency needs. The foreign currency app facilitates international money transfers at low fees and foreign exchange at interbank rates, all from your phone! Here are just a few of its notable features.
#1 Frictionless foreign currency exchange
The payments app supports 28 currencies, with more to be added in the future. Revolut customers can easily exchange currencies at interbank rates, which is the rate that banks use to transact among themselves.
If you’re looking to exchange a particular currency, you can set an in-app notification that alerts you when a favourable rate is reached or to automatically buy the currency for you.
As a multi-currency wallet, you can choose to hold the currency for the future or exchange it back to SGD with a few taps in the payments app. So, if your travel plans change, you’re no longer stuck with foreign currency notes gathering dust in your house.
#2 Spend in over 150 currencies at the best rate
Even in a country where the currency is not supported by the Revolut app, you can still use the foreign currency app. Simply add money to your USD wallet, for instance, and pay for your purchases with your Revolut card. The amount will be exchanged at the interbank rate and deducted from your USD wallet.
You can also withdraw the foreign currency from your USD wallet at overseas ATMs, which are free for Revolut customers, up to a certain limit.
#3 Flight delayed? Enjoy free lounge access
Revolut customers on a paid plan have free access to airport lounges when their flight is delayed by more than an hour. Paid plan customers who prefer to relax away from the crowd also have the option of purchasing lounge passes via the payments app.
#4 Insurance coverage for lost luggage and medical assistance
Paid customers also enjoy lost or damaged items insurance as well as global medical and dental coverage.
More about the Revolut foreign currency app
Besides assisting with foreign currency needs, the payments app has introduced non-travel-related features such as Junior accounts to help kids learn about money management as well as a remittance platform with competitive fees. Get your free Revolut account at revolut.com.
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