Revolut has confirmed plans to become the first financial services company in the UK to offer mobile network plans to its customers.
Starting this week, the company’s eight million UK customers using eSIM-compatible devices can benefit from mobile access that will give them access to their online banking and more when abroad.
Revolut’s eSIM service will include data plans covering more than 100 countries globally and is designed to be installed alongside a business user’s existing local SIM or eSIM to take the stress out of roaming charges.
Revolut confirms plans for eSIM
The introduction of an eSIM for business banking customers comes as UK customers battle with rising costs, including re-introduced roaming charges as a result of the country exiting the European Union. Previously, most popular network providers would include European roaming for free, but charges for using services abroad have since been added by most companies.
Those paying for the Ultra tier, which costs £45 per month, will get access to 3GB of global data each month, catering to the needs of international business travellers. All Revolut customers in the UK can also get access to an introductory offer of 100MB, redeemable by May 1, 2024.
Pricing for more data is dependent on location, starting at £2 per 1GB. Plans are set to range from 1GB to 20GB, including regional and global levels.
Use of the banking app does not account for any mobile data usage, giving customers access to their finances and more data plans from most countries.
Network connection will be provided by 1GLOBAL, a London-based company founded in 2022 whose portfolio includes remote SIM provisioning, IOT solutions, Telco-as-a-Service for travel companies, and regular roaming options for individual consumers.
Elyas Sadou, Product Owner of eSIM at Revolut, commented: “At Revolut, we harness technology to simplify our customers’ lives, and that’s precisely what our eSIM accomplishes. It offers seamless access to mobile data, eliminating the inconvenience of high prices or the need to buy and organise a physical SIM card.”
Looking ahead, the company has plans to build a ‘super app’ with services extending beyond banking to cover other financial verticals like currency exchange, insurance, travel bookings and airport lounge passes, putting it at the top of many business owners’ shortlists.