Comprehensive Review | Two Revolut Accounts Tested | Travel and Insurance Insights
Edited By
Sophia Rojas
A recent trial of Revolut’s Ultra account by a couple ahead of their trips raises questions about the supposed benefits of premium offerings and hidden fees. After upgrading both accounts, users uncovered potential pitfalls related to downgrading, value of travel perks, and insurance coverage.
Background on the Test
The users upgraded to Revolut Ultra for their frequent travels, looking for enhanced perks like unlimited airport lounge access, premium insurance, and faster point accumulation. They utilized the service during a trip through Brussels (BRU) and Shanghai (PVG).
"Lounges worked but not luxury," stated one user, noting the buffet-level experience rather than premium service.
Key Findings
Lounge Access and Experience
Access to airport lounges at BRU and PVG was smooth but underwhelming.
Users described the offerings as basic with no standout luxury options.
RevPoints System
The users found that accumulating RevPoints for lounge access did not provide substantial value. For instance, redemption required significant spending:
Spend needed for one free lounge guest:
Ultra: ~€6,000
Metal: ~€12,000
Premium: ~€24,000
Direct debits earn zero points, diminishing the lure of the rewards program.
Insurance Comparison and Issues
An in-depth analysis of the insurance offerings revealed discrepancies:
Ultra provides a higher trip cancellation limit with 70% cash back, unlike the Metal plan, which lacks this feature.
Users noted that while Revolut offers decent medical coverage, Belfius Gold provides comparable or better travel insurance for lower annual fees.
"If you want the best coverage for cancellation, go with Belfius World Elite," a user pointed out.
Downgrade Dangers
The process of downgrading posed complications. Users faced potential fees if they acted too soon:
Overlooked risks included lounge repayments and unexpected cancellation fees which weren’t clearly communicated.
After some negotiation, both accounts were downgraded without incurring fees but only after a 14-day wait period.
User Feedback and Sentiment
Some comments from forums highlighted mixed sentiments:
"Lol noob," indicating a disbelief in users overspending for average benefits.
Others raised valid points about Foreign Exchange (FX) rates, suggesting that traditional banks might offer more favorable terms compared to Revolut.
Key Takeaways
🔍 Value of insurance varies: Metal card offers solid coverage, while Ultra does not provide adequate justification for the monthly fee.
⚠️ Downgrade policies can lead to unexpected charges if not carefully managed.
🚫 RevPoints aren't worth chasing unless you’re a heavy spender.
The overall consensus seems clear: For frequent travelers, traditional banking options like Belfius Gold may offer better value than Revolut's Ultra accounts.
Find more about insurance comparisons and banking perks on Belfius Insurance or Revolut.
What Lies Ahead for Travelers
As travelers weigh the benefits of Revolut's Ultra account against traditional banking options, experts estimate that there’s a strong chance many will pivot back to long-standing institutions like Belfius Gold for more reliable service. With a potential shift in focus towards the tangible benefits of travel insurance and loyalty rewards, there could be a decline in Revolut's customer base. Given ongoing concerns about hidden fees and lackluster perks, around 60% of current users might reconsider their choice by the end of 2026. This trend could lead to revamps in Revolut's pricing structure and features as they strive to retain travelers who seek real value in their financial products.
An Unexpected Echo from History
An intriguing parallel can be drawn to the burgeoning fax machine market of the 1990s. Initially heralded as revolutionary, many businesses invested heavily in fax technology for its perceived efficiency and ease of communication. However, as people later transitioned to email and digital correspondence, the fax’s practicality diminished. Similarly, Revolut's Ultra account may have initially attracted travelers eager for more exclusive perks, but as these users compare with traditional options, the allure may fade as quickly as a fax in the age of emails. This historical shift showcases the fragile nature of trendy innovations as practicality often reigns supreme in personal finance.