Three million Revolut customers in the UK can now access their pay cheques early via the neobank’s latest feature.
Revolut’s early salary access feature means customers can access their salaries and all payments made over the Bacs payment scheme a working day earlier than usual. In the case where they would be paid on Monday, people would be able to access their salaries the Friday before.
The new functionality has been enabled by Modulr, Revolut’s long-term payments partner. Modulr, the payments platform, became one of few non-banks to gain direct access to the Bank of England, including Bacs and Faster Payments, last year.
“Early access to salaries could be a genuine lifeline for many during these tough economic times,” said Nik Storonsky, CEO and Founder at Revolut. “Our aim is always to provide Revolut customers with services they need and the best possible experience.
“With Modulr we’ve been able to deliver better services and experiences to millions of UK customers. We’re looking forward to future innovation and to launching many more exciting products for Revolut customers. Now more than ever, our customers across the globe need easily accessible tools to manage their finances proactively and successfully.”
Myles Stephenson, CEO and Founder of Modulr, added, “Revolut continues to go from strength to strength, as it asserts itself as the go-to challenger for consumers eager to have greater ease, access and control of their money.
“Utilising our APIs and direct access to the Bank of England, Revolut can offer their customers payments solutions fit for this new normal we find ourselves in – where payments need to be instant, flexible and reliable. Customers accept nothing less now.
“With Modulr’s commitment to payments innovation, the partnership with Revolut is a natural fit. We’re excited to continue our journey with Revolut and look forward to seeing the future innovative releases they bring to market.”
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