Data from a study Revolut on a representative sample of the Italian population of 1,000 adults, show that 56% of Italians plan to exchange currency with entities that traditionally charge significant commissions and usually do not apply competitive exchange rates. In detail, 33% of the sample exchange currency at their bank before departure, 14% at the exchange kiosks once they arrive at their destination and 9% at the airport, which in most cases translates into higher costs than other methods.
Revolut, how to manage expenses in territories outside Europe
Among Italians who say they change currency, 1 in 5 prefer to use apps and digital tools. Revolut is one of these, its super app is used by 30 million customers worldwide and 1.3 million in Italy.
Offer a multicurrency account and allows travelers to exchange Euros for more than 30 other currencies before departure – even months in advance if for example FX is cheaper, and save them until it’s time to spend. Furthermore, when paying at the destination, customers can spend and withdraw in local currency while benefiting from very competitive exchange rates and without hidden fees.
The most experienced generation of FX is the GenZ: in fact, 28% of Italians between the ages of 18 and 24 already use digital tools to change currency.
At destination: cash or card? Revolut’s answer on expense management
In various destinations cash is still used a lot but – where possible – the wisest choice is to pay with carta and use cash only when absolutely necessary. Revolut, globally recognized as an excellent app for travellers, allows people to pay and withdraw in over 150 local currencies at competitive exchange rates and with no hidden fees. Revolut cards are Mastercard/Visa and are accepted worldwide.
The word a Ignacio Zunzunegui, Head of Growth Southern Europe di Revolut
“It is surprising that Italians are still spending more than necessary on currency exchange and we hope that solutions like ours will become more and more widespread in the country. The fact that nearly a third of GenZ is aware of the opportunity offered by services like Revolut is a real hope. For our part, as a global financial super app, we want to continue revolutionizing travel by helping our customers discover the world in a convenient way.”
“The combination of an informed choice of holiday destination – which can take place by taking into consideration the countries where the exchange rate is more favorable than the Euro -, the right digital service to obtain good exchange rates and a solution to save on tours and activities to do on site, can really represent a considerable saving, especially for families, in this year marked by the increase in travel costs”.
Cashback on tours and attractions means more money to spend on other things
Several well-known portals offer tours and activities through a wide range of options, so that travelers can easily and quickly check all the possibilities available and find the activity that best suits their needs.
Not only has Revolut integrated a marketplace for tours, activities and attractions, giving users the possibility to book their own travel experiences among over 300,000 proposals worldwide directly in the app, but also offers up to 10% in cashback (terms and conditions apply), great prices and no booking fees. So customers can also have extra money to spend on other activities during their vacation.
The Revolut app
The super app Revolut offers a wide range of financial products that make travellers’ lives easier: from Visa and Mastercard cards for online, offline and contactless payments, to competitive currency exchange applied to transactions and withdrawals, with no hidden costs, and beyond. With the Revolut app, cards can be blocked and unblocked at any time with a single tap, and every spend is followed up with a push notification.
What to do in case of theft or loss of the card?
In case of theft or loss of the card, customers can receive a new one in a few days anywhere in the world. Revolut customers receive up to 10% cashback when they book accommodation with Stays and Tours and Attractions with Experiences.
Customers Premium e Metal have travel insurance with medical, flight delay and lost baggage coverage, as well as access to airport lounges in the event of a flight delay for themselves and their companions. Those who are part of the customers Ultra they benefit from, among other things, travel insurance with cancellation for any reason and unlimited access to airport lounges.