Revolut has introduced a dedicated income, payment and expense management account for freelancers, sole traders, contractors, and the self-employed.
Housed within the Revolut retail app, Revolut Pro is initially launching in the UK and seven other European countries, providing a free account with no monthly fees, and no deposit or balance requirements.
The account can be created in under two minutes within Revolut’s app, and offers a one per cent cashback debit card. It also enables users to send transfers or instant payments to external banks as well as other Revolut accounts.
In addition, the account offers multi-currency payments with a physical or virtual card, Google Pay, and Apple Pay, as well as money transfers. And users can instantly accept payments either in-person with Revolut Reader or online with QR codes, payment links, and by generating invoices and tracking their payments.
Maria Marti Garcia, product owner, Revolut Pro, says: “The explosive increase in gig workers, artists, bloggers, and the like alongside more traditional individual professions including private teachers, home service providers and fair vendors has driven demand for better ways for those working on their own projects, be it full time or part time, to manage income and expenses.