Revolut Introduces Group Vaults for Shared Saving Goals

Revolut launched a new feature called Group Vaults, allowing customers to save money collectively with family and friends.

Group Vaults can be contributed to through various methods like spare change round-ups, recurring payments, or one-off contributions.

The feature targets those who want to avoid the bureaucracy of joint bank accounts and provides flexibility in saving and withdrawing funds.

Since April 2018, over 1 million Vaults have been created with Revolut customers saving more than £75M.

Revolut is planning further product launches and international expansions, including commission-free trading and a presence in the US, Canada, Singapore, Japan, Australia, and New Zealand.