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HomeNews430,000 Revolut customers were...

430,000 Revolut customers were waitlisted for the Ultra plan

Revolut Ultra launched late last month as the neo bank’s new premium subscription tier. Their press release makes for stimulating reading, especially the first bullet point:

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

This is an astonishing number of pre-registrations – the product team must be especially pleased with themselves.

Now then, the key question is how many of this 430k pre-registration base will convert to paying the whopping £55 per month (or £540 per year) subscription fee?

If you assume just 10%, that’s £2.3m per month in recurring revenue already – or a £28.3m annually. Now one imagines that, if Revolut have got their customer segmentation right, there will be a lot more subscribers than this.

For posterity, here is the rest of the press release:

  • Ultra is Revolut’s new exclusive top-tier membership, above the existing Plus, Premium and Metal plans. Ultra targets a growing consumer segment of ambitious explorers interested in a luxury lifestyle
  • 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)
  • World-class travel: lounge access at 1,400+ airports, hotel cashback, unlimited foreign exchange with no fees on weekdays, and Cancel For Any Cause insurance take trips to another level
  • Unparalleled lifestyle benefits: A platinum-plated card, 24/7 member support with call-back service in English, unlimited international money transfers with no transfer fees, and access to subscriptions with partners, such as Financial Times, WeWork, ClassPass, NordVPN & more, giving Ultra members a tailored experience every day
  • Next-level opportunities: Users will enjoy reduced Revolut crypto trading fees*
  • A plan to work all around the world : Freelancers and Revolut Pro users will enjoy 1.2% cashback on their Pro card payments

Revolut, the global financial super 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.

The card includes headline subscriptions such as:

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.

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).

Best-in-class travel companion

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.

Unlock wealth potential

Ultra also offers the best wealth limits by Revolut: annual interest paid daily on savings in the UK (3% AER/Gross (variable) in GBP and 3.54% AER/Gross (variable) in USD) and in Poland (5% in PLN).

Crypto fees have also been reduced with 0.49% per crypto trade versus 1.99% on Standard*.

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.

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