Digital start-up Revolut has launched its money savings app, Vaults.
Vaults, named by Revolut’s users and with the tagline “save the spare change!“, lets users round up their everyday purchases and save the spare change.
The change is added to an account, which can be withdrawn from at any time, that can save in any of the 25 currencies Revolut supports. It can also save it cryptocurrencies such as Bitcoin, Litecoin, and Ether.
Nikolay Storonsky, CEO of Revolut, said: “Offering spare change savings and roundups to Revolut users has been one of our most popular feature requests. We’ve had thousands of people in our community asking for this feature, so we wanted to give something back and ask for their help in naming it. We believe that Vaults will enable us to help many more people start saving and investing towards their future.”
A similar solution already exists in the form of Moneybox, which also lets users round up and save spare change. With those savings, users can then invest in cash funds, global shares funds, or property shares funds.