Gone are the days when you had to pay ridiculously high exchange rates and transfer fees to access financial services. This has been made possible with fintech firms across the world that provide commission-free trading, including Revolut.
Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko in London, Revolut has launched its banking services in Singapore. This marks the entry of the British fintech banking app’s fourth international foray.
Provides a slew of banking services!
The fintech scaleup has over 7 million users in the UK, Europe and Australia for now. As it has launched its services in Singapore, it provides customers with access to its banking app as well as debit card. Users in the country will get many features including free-spending overseas in over 150 currencies, capped cash withdrawals, and premium accounts.
Furthermore, it adds Singaporean dollars to its existing currencies accessible to Revolut users. Last year, the company set up a regional headquarters in Singapore after receiving authorisation from financial authorities in the country. While there is 20 staff in this office, for now, the company aims to increase its team three times in the coming months.