The travel card offering 10% instant cashback for booking a holiday
If you like the idea of getting a little extra money back when booking a holiday, we have some great news for you. UK fintech giant Revolut, which boasts more than 15 million customers worldwide, has launched a new travel feature that allows users to book a holiday and get up to 10% cashback.
Here is everything you need to know.
How eager are Brits to travel abroad?
After close to a year and a half years in lockdown, there is significant pent-up demand for overseas holidays among Brits. Research from Revolut reveals that almost three in four (72%) Brits can’t wait to travel abroad as soon as they are able to.
And it’s not just Brits who appear to be itching to get away. The same is true for holidaymakers across Europe. Revolut reports that 85% of the French and 72% of the Spanish also desire to travel abroad.
Further, Revolut says that most of its users have doubled their savings over the course of the pandemic. Many are willing to splurge some of their lockdown savings on holidays to exotic global locations.
What is Revolut’s new feature for booking a holiday?
Revolut is a payment app that comes with a prepaid card. To cater to the apparent pent-up demand for foreign holidays and help people save money while booking their getaways, Revolut has launched a new travel feature called Stays.
The feature is available to UK users as of 21 July 2021, and it will be gradually rolled out to users across Europe and the United States over the next few months
How does Revolut’s new feature for booking a holiday work?
The Stays feature allows you to browse and book accommodation in places all over the globe on the Revolut app.
The app will then reward you with up to 10% instant cashback when you make a booking and pay with your Revolut card. According to Revolut, the average customer will save £69 a year on accommodation costs for bookings made through Stays.
This is Revolut’s biggest giveaway and will see the company give rewards worth £70 million to UK customers.
Marsel Nikaj, head of savings and lifestyle at Revolut, explains: “We’ve built Stays to make it easy for people to find and book their perfect break in their ideal destination. After 18 months of endless restrictions and lockdowns, we want to give people more and make their money travel further.”
In addition to the 10% cashback offer, Revolut says that customers can also expect to access exclusive rates on accommodation, with no booking fees. The firm also expects to add more travel-related products over time, including flights, car hire and travel experiences.
How do I create an account with Revolut?
Setting up an account is pretty straightforward.
To apply for an account, simply navigate to the Revolut website and enter your phone number. Revolut will then send you a link to download the app. You will need to go through some security and ID features, which will involve providing a valid ID document and taking a selfie.
Once you have created your account, you can request your Revolut prepaid card. If all goes well, you should receive your card a few days later. You can then start taking advantage of the new Stays feature and access up to 10% off your holiday bookings.
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