Digital Banking Apps Proving to Be a Hit

June 17, 2018 June 17, 2018 gomonews

There is no doubt in my mind that no matter which mobile device you have opted for, you are going to be on the hunt for all manner of apps to download onto it.

There have been a number of different digital banks launching recently that only operate via apps, and one that has certainly caught the imagination of many people is the one offered by Revolut.

One thing that each of those digital banks has to adhere to is of course anti money laundering laws and regulations regarding know you customer, but the way in which you get your account with them fully verified is an absolute breeze.

For you simply take a picture of yourself along with a picture of your passport which is then sent to their account verification team and when I set about doing so my account was verified in just a few seconds!

So regarding opening up a bank account that will give you your own bank account number and sort code, then this is certainly an app worth considering, but there are also plenty of additional features built into that app you are sure to find of interest.

Basic or Premium Account

You will have the option of opening up a basic account which is completely free of charge or you can opt for a premium account which costs just a few Pounds or Euros each month, but by doing the latter you will get free travel medical insurance as part of the package, which will come in handy if you do travel overseas a lot!

You can also request money from anybody irrespective of whether they have a Revolut account or not, they can then send money via a bank transfer which typically takes a couple of hours to reach your account, or they can send you money using their debit card and those transactions are processed instantly and they reach your account once they have been approved.

Trading Cryptocurrencies

It is also possible to trade on the value of digital currencies when you download the Revolut app, without the need to actually buy them.

You simply decide the unit of say Bitcoin hat you wish to buy and then instantly you will be shown the current spot price and then you can purchase your Bitcoin, however as soon as you want to sell your holdings then you can do so instantly too.

If you are after an all in one digital app that is also going to give you the best exchange rates on all major currencies, and also supplied you with a debit card, then I really would urge you to consider download their app as it really does have everything going for it!

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