What's up you guys, sashay here now yesterday, as i'm filming this or two days ago, from the date when this video is actually coming out, revolute have announced a brand new product, it's called revolut plus, i know i know it does sound similar to some other products. You may have heard announced recently now this product is not actually replacing the other three products that they already have in the market is joining them with the new mid-tier option and i'm gon na review in this video. Exactly what i think about it and tell you exactly what this actual product should do, who is for, and you know all the little details that may be of interest now. Let me just really briefly cover.

There are now four different options offered by revolut. There is the basic standard account that is completely free, except for the delivery charge on the card. You can't actually get everything for free. You still have to pay delivery charge, even if you get the free option or you get this new plus account which is sort of the introductory paid for account.

It's going to cost you 2.99 a month. If you want to go and pay it on a monthly basis, and then you have the more premium options down the line with the premium which costs 6.99 a month, and then you have the metal card, which is a mighty 12.99 a month. All these products do offer you an annual discount as well, although it is a bit weird because the annual discount works in a different way for each of the three paid options you get to save almost two months worth of money by paying 29.99 for the plus Account now it's not exactly two months, because that would be 29.90 so that nine extra pens, i guess they just wanted to make it 9.99 on the end, for nobody knows why reason, but then the other ones are even more funny, because the premium account is 72 Pounds if you pay for a year, which is not even closer to it's actually one month and 21 days worth of savings and the metal card is 120 pounds if you pay for a whole year, which is two months and 23 days worth of savings. So i don't know exactly who came up with this: there isn't a fixed percentage discount or anything like that, but that's how much you're gon na have to pay now, given that there wasn't really that much of a difference between the existing paid options as it is.

You might be a little bit confused as to exactly where this new option slots in and exactly why there was ever any need for coming up with it in the first place. But don't worry, you are not alone on their website. It seems that revolut themselves are not quite sure about what is and isn't included in this new plus account. If you go and look at the page, that is all about the plus account, you will notice that they advertise some really cool features like a 90 day.

Return window and enhanced purchase protection where you can return things for up to 90 days and you also get ticket cancellation insurance. You know for all of those concerts and events that you're definitely going to be going to, or in case you are not going to be going to you'll, be able to get your money back for whatever reason it is. However, if you look at the pricing comparison table, which compares the plus account to the other account options, the revolut offers, it actually says that the ticket protection returns protection, the safer online shopping and all of those benefits listed on the sales page are not part of The plus account so it does seem a little bit on the confusing side, although if you watch the video that they've put together on their youtube channel about this very account, it does seem that they are actually included. So i'm guessing there's just a typo in the table now clearly as a disclaimer, i don't actually have the revolut plus account.

It's only been one day and i haven't actually gone and signed up and made use of all the various benefits, but i have used revolut recently and i've done a big review recently and i've used the products. I've had the card, and i don't think that the benefits and the features of this account are necessary to actually go and try out to understand whether they're going to be valuable and with some of the features that i'm going to mention in just a second. You can't really go and test them out in any case, unless you're going to go and commit some kind of weird fraud, but anyway, let me review this account and tell you exactly what it does and what it does not do. Don't worry this isn't going to take too long.

First of all, there are only six differences if you look through the various terms and the tables and stuff and actually go through their typos as well. There are only six differences between this paid account and their regular starter basic standard account. I've got the notes down here and i'm going to list them. They are purchase protection and all the other types of insurance products that i just mentioned.

They are not 0.3 interest on savings. You get free card delivery because you're paying for the account, and you also get customizable cards next. You have priority support which will be able to answer your queries more quickly and you get access to some additional features of the junior account which are not available on the basic standard account such as setting up various tasks and goals for your kids. So let me break these down and first, let's start with the one thing that is at the top of their sales page.

That seems to be the main benefit that they're advertising this part of their card and that's the various insurance type products that are packaged with this account. Now, in essence, you actually would get better insurance for protection against purchases that maybe don't work out or arrive damaged or don't actually get delivered or don't get serviced. If you just use any credit card, every credit card in the uk comes with section 75 in protection for any purchase of between 100 pounds and 30 000 pounds, and you don't have to put the full amount of that on the credit card. As long as you've made even a part payment for it on a credit card, the entire amount is protected by the credit card company.

Now i appreciate that this insurance is not the same thing here: you're protected for up to a total of a thousand pounds across all the different claims that you may make for anything that you've bought on revolut if it suffers accidental damage and here's my big problem. It's actually got nothing to do with revolut, and it is the fact that these types of insurance policies almost never actually provide value. The moment you do have to claim you will find those magical clauses that say that the specific way that you've managed to accidentally damage your product or the specific type of product or the specific way that you've been using the product is excluded from the policy and From having lots and lots of experience of dealing with these types of things, i very very rarely place any value on this type of product. It really very rarely will actually help people i on average - i don't know - maybe this one is going to be very different.

Maybe because there hasn't been any examples, yet maybe this one is going to be far better than any similar ones that other people have had. We shall have to find out. The next part of the insurance policy is the fact that you can get a refund for items that were purchased for between 50 and 300 pounds if your retailer won't take back your items now. The issue that i see here is that the onus is on the customer to somehow prove that the retailer won't take the items back, and i see that being a massive problem, because how are you going to get the retailer to confirm that they're refusing to take The item back or is revered, going to accept all claims on this policy, irrespective of having any evidence that you actually tried to bother to go back to the shop and the shop said.

No, how is this going to be determined? I am very, very unconvinced, and on top of that, my kind of concern here is that the item price range is so extremely specific, because i think there is a strategic reason for it, and that is for regular purchases. Like clothing and other items, you are likely to be spending less than 50 per individual item, which is what this policy covers and for very expensive purchases like if you're buying laptops, if you're buying tvs and if you're buying other items. You may well go over the 300 power mark, so i think this range was chosen very specifically and very exactly so that it doesn't cover electronics that is particularly popular. That is going to be costing just a little bit more than that in the run-up to christmas and doesn't cover any low-value items either.

It is this kind of sweet spot where actually in reality, not that many products are actually priced in this range. Also, i guess it is nice to know that you are covered in case you are not able to make it to a concert for whatever reason you know in the middle of a pandemic, with absolutely no concerts happening anytime soon. The next big feature i want to look at is the customizable cards option now paying 36 pounds a year if you're paying on the monthly basis, for the fact that you can have some kind of custom design card seems a little bit on the expensive side. That's just my opinion.

Maybe you really really like it and you're happy to spend whatever it costs, but the worst thing is: this feature is not even available. It is coming at some point soon, but you need to go and get this card right now. They're already sending marketing emails they're already advertising this, even though this feature is still a work in progress, and it is completely unclear as to when it will actually arrive. Then there's priority support very funny.

I actually tried various different types of revolute support and found them to be somewhat below par and somewhat on the slow side and somewhat unhelpful in the cases that i have had of interacting with them. And here is my big issue: the fact that a company actually has a difference between basic support offered to people who use just the regular. You know poor person who doesn't want to pay money account and a premium support service kind of tells you a lot about what their support for customers looks like under the bonnet, given that most people probably will not be using. The extra junior account features that this opens up as well.

There are only two real benefits remaining to this account other than ones that i've just listed, and the two benefits are one: you don't have to pay for card delivery because you're already paying 299 a month as it is, so you get to save five pounds. But in two months you will have paid more for the account anyway. The next feature is the 0.3 interest on savings. It's not on the money in your account, it's not on the money that you have invested, it's not on any money.

It is only on money that you specifically put into a dedicated savings account, except this is an incredibly bad savings rate and if you go pretty much anywhere else, like literally any other savings account in the uk, you're probably going to get 0.5 to 0.6. At the moment, double the rate that they are offering for an account that you have to pay money for now. I really don't see what you're actually paying money for in this case. If you want a savings account, you can go anywhere else and get almost double or double the rate that they are offering without having to pay any fees.

If you don't want to pay for card delivery, well, either don't get a revolute account, get monzo get styling. Get whatever it is that you like get a high street bank account all of them offer free card delivery already. So i don't understand how this is a benefit, that you should pay a monthly subscription for, especially given the fact that the custom cards that you might want to get are not available in the first place. So you're going to be paying money for the delivery of a card that you can't design, even though part of the benefits of the account that you've just paid money for is the fact you can design the card that you can then get delivered for free.

Maybe, instead of releasing yet another paid account that offers very little, in my opinion, very little value to their customers. Revenue could focus instead of providing real value to people, like i don't know, creating actual credit products that really work and offer value to people who need to borrow money that offer investment products that actually work and don't have horrendous fees baked in and aren't really really Expensive compared to some of their rivals that are competing with them like trading 212 or even free trade like maybe providing much better savings accounts that are actually ultra competitive and offer best in class rates, instead of offering something that is way below par, like they've done With this plus account, if you disagree - and you think that there is something in this account that is actually worth paying money for make sure you leave a comment below and tell me exactly where i'm wrong. If you enjoyed this video make sure you smash the like button for the youtube algorithm so that this video can be seen by more people who might be interested in this product. Thank you so much for watching.

I really really appreciate it and i'll see you guys later.