Revolut Singapore customers can now enjoy fee-free top-ups via bank transfers

Singapore, 14 December 2020 – Revolut has given customers a new way to top up their Revolut wallet. 

Up till now, Revolut customers add money to their Revolut wallets using debit/credit cards, Apple Pay or Google Pay. Adding money using bank transfers will give customers one more option to manage their spending on the Revolut app. They may even set it such

that a portion of their monthly salaries is automatically transferred to their Revolut wallet. This could be useful in scenarios where a customer wants to manage their subscriptions, utilities bills, or investments through Revolut. 

By partnering with DBS, Revolut is able to assign a unique 15-digit virtual account number to each customer in Singapore. A customer simply transfers money to their virtual account from their bank, and the amount is instantly reflected in their Revolut app. 

James Shanahan, CEO of Revolut Singapore says: 

“The goal here is to enable customers to manage their money in a way they find most convenient for their lifestyles. With virtual accounts, Revolut Singapore is able to collect payments from a large number of customers and still easily keep track of their transfers. This process will give our customers peace of mind, thereby improving overall user experience.” 

Pam Chuang, Head of Growth at Revolut Singapore says: 

“Topping up via your local bank account is fast and convenient. With the virtual account feature, Revolut is, once more, able to help our customers better manage their money. When we introduce new wealth and money-management products, this will give our customers visibility of how they are using their money.”