We’ve launched Recurring Payments! You can now make regular payments to cover bills such as your monthly rent or mortgage, alongside being able to regularly send money abroad to your family and friends in just a few easy steps!
How does it work?
Recurring payments allow you to make regular transfers to Revolut users, as well as to other bank accounts. Whether it’s your regular TV subscription, payments to family members or your monthly rent, we’ve got you covered!
Recurring payments can be sent as either a standard or turbo transfer, depending on how quickly you want your payment to be made. And in true Revolut style, you can send recurring payments to any country in the world with any of our supported currencies!
When setting up a recurring payment, you can select either a weekly or monthly payment frequency which can be easily edited once set up. Users are able to easily de-activate, re-activate, edit or delete their recurring transactions.
If you don’t have enough funds in your account prior to a recurring payment, you will receive a push notification 24 hours before to remind you of the the scheduled transfer. We’ll also let you know if your payment has been rejected or fails for any reason.
Premium users will be able to make their recurring payments using turbo transfers, which means their payments will be received the very next day!
How do I set it up?
To use the recurring payments feature, you will need to make sure that you have the latest version of the app installed. You will then need to:
- Tap the Payments button and select Recurring Payments
- Select a Beneficiary and set the Amount
- Choose between Regular and Turbo Transfer
- Set the Frequency and select a Start Date
And that’s it! Your recurring payment is all set and ready to go — hurrah! 🎉
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