Digital banking startup Revolut is targeting the millennial jet set through the launch of a new metal card that comes with a host of benefits, including cashback in Bitcoin and other cryptocurrencies.
Crafted from a single sheet of reinforced steel and weighing three times as much as a plastic card, Revolut Metal costs £12.99 a month, or £120 a year, nearly double the £6.99 a month cost of the firm's basic premium subscription.
Aside from the unusual physical card, the main perk this extra cost secures is cash back in fiat and crypto currencies. However, this benefit is likely to appeal mainly to those who travel outside of Europe: within the continent users will get 0.1% cashback, outside they will receive one per cent.
Meanwhile, customers will get up to £600 per month in free international ATM withdrawals and a dedicated concierge service for booking things like flights and festival tickets. Unlimited foreign exchange, free international money transfers, 24/7 priority customer support and overseas travel insurance are all also included.
Nik Storonsky, CEO, Revolut, says: "We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide. While the plan already comes with a bunch of new features, there is so much more to come, including commission-free trading and airport lounges.
"The launch of Revolut Metal is also an important step towards the company generating additional revenue, especially as we prepare to launch a commission-free trading platform and expand the business into North America and Asia later this year."