Revolut has confirmed its plans to become the first UK financial services company to offer mobile network plans to its customers.
Starting this week, the company's eight million UK customers using eSIM-enabled 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 over 100 countries worldwide and is designed to be installed alongside a business user's existing local SIM or eSIM card to ease the stress of roaming charges.
Revolut confirms plans for eSIM
The introduction of an eSIM for business banking customers comes as UK customers struggle with rising costs, including roaming charges reintroduced as a result of the country's exit from the European Union. Previously, most popular network providers included European roaming for free, but most companies have since added charges for using services abroad.
Those who pay for the Ultra tier, which costs £45 per month, will have access to 3GB of global data each month, meeting the needs of international business travelers. All Revolut customers in the UK can also get access to a 100MB introductory offer, redeemable before May 1, 2024.
The price for more data depends on location, starting from £2 for 1GB. Plans range from 1 GB to 20 GB, including regional and global tiers.
Using the banking app does not take into account mobile data usage, giving customers access to their finances and more data plans in most countries.
The 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, eSIM Product Owner at Revolut, commented: “At Revolut, we leverage technology to simplify our customers' lives, and that's precisely what our eSIM does. It offers seamless access to mobile data, eliminating the inconvenience of high prices or the need to purchase and organize a physical SIM card.”
Looking ahead, the company plans to create a “super app” with services that extend beyond banking to cover other financial sectors such as currency exchange, insurance, travel bookings and airport lounge passes, placing it in top of many business owners' shortlists.
