Revolut: a paid account to celebrate the milestone of 4 million customers in France
Clearly, Revolut is in a hurry. Very rushed even. Last March, we reported that the neobank announced that it had attracted three million customers in France. Just eight months later, that figure has now risen to four million. Growth even faster than that anticipated by the British player, who mentioned growth of 100,000 additional customers per month at the time. The acquisition rate is now around 150,000 new monthly users. Revolut therefore confirms its position as a formidable challenger to traditional banking establishments in France. Especially since its recent performances place online banking at the top of the most downloaded banking applications in 2024, ahead of established players like BoursoBank and Crédit Agricole.
France, a priority market
To establish its notoriety among the general French public, Revolut claims to have deployed a multifaceted marketing strategy. The neobank has thus been able to forge important strategic partnerships, notably with the NBA. She has also partnered with top influencers like Léna Situations and Squeezie. This resolutely modern approach for a bank, combined with traditional poster and television campaigns, has considerably strengthened Revolut's visibility in France.
The French market now represents the second largest for Revolut in terms of revenue and growth, just behind its native United Kingdom. A position which justifies the commitment of massive investments. As early as last month, the neobank announced a minimum investment envelope of 100 million euros for the French market. Antoine Le Nel, growth and marketing director of the brand, does not seem to be satisfied with the current good trend and is even more ambitious when he states “ our investments are bearing fruit in France, but we have not yet reached our maximum acquisition speed. »
Teeth that scratch the floor
Still according to the brand, the year 2025 promises to be even more ambitious, with the planned introduction of the Livret A as well as the development of real estate loans. These new products will complement an already extensive offering. The goal of Revolut is obviously to position itself even more as a credible alternative to traditional banks. Because with its rapid growth, Revolut is now positioning itself as a serious competitor for established players in the French banking market. However, if the neobank today has 4 million customers in France – out of more than 45 million customers worldwide -, it still remains behind BoursoBank and its 6.5 million users. However, Revolut's pace of growth suggests that it could soon compete with the current online bank preferred by the French. The neobank is also aiming for an ambitious target of 20 million customers by 2029.
An interest-bearing savings account
It therefore does not intend to stop there and is banking on the diversification of its services to continue its growth. Thus, a few days before announcing its number of French customers, Revolut had unveiled a new savings account with daily remuneration for the French market. Sumeria had already drawn up such an account last May. But it remains rare enough for us to be mentioned. Especially since this paid savings made in Revolut offers a fairly unique feature: daily remuneration. Indeed, unlike traditional savings accounts which calculate interest every fortnight, Revolut pays interest every day! As for the interest rates, they vary from 1% to 3.25% gross annually, depending on the package chosen by the customer. Finally, the maximum amount authorized on this account is 100,000 euros. Remember that that of Livret A is only €22,950.
Finally, to promote this new product, Revolut is offering a promotional offer: all new customers registering between October 24 and November 30, 2024 will benefit from a rate of 3.25% gross, regardless of their plan, up to in March 2025.
