I think the steps should be fully configurable. For some currencies, like JPY, 1 also does not make sense since itās just too small. You would want 1000 or 500 for JPY.
CGD actually offers it, but Iām not sure if they do for every account or how to activate it, but if you can have it on your account then itās fully customisable, meaning you can round up to the nearest .5ā¬, 1ā¬, 5ā¬, etc.
Vaults do make me question somethingā¦
Is the amount in the vaults counted in your total balance, or not?
Fi, if you want to fill up your car, you need a balance of ā¬150 or the transaction will be refused. Letās say there is a balance of ā¬ 70, and ā¬ 100 in a vault, will it be possible to make this type of payment. I believe only your actual balance will be regarded in this exampleā¦
No retail bank (that intends to stay in business) pays meaningful interest.
If you want short-term return, you invest in a money-market fund, while if you want capital growth, you invest it in the capital markets (Equities, mutual funds, ā¦).
Another question, for the lower-tier income poor-ass students here.
IMAGINE (definitely not the case here ) that I have ā¬0.50 in my account and I want to buy a ā¬0.49 coffee. :r: tries to round it up to ā¬1. Does the transaction go through and the vault saving fail or does it fail altogether?
My guess is that the transaction goes through, and there is no Vault deposit.
I had a similar situation on EUR (while my main currency is CHF) - I had enough money in EUR for the transaction to go through, but not enough to transfer to the Vault. And there was not Vault transfer in this case.
I might use this if there was an incentive like interest. Iām not going to set up a recurring payment of money into a vault with Revolut when I can do a similar thing with my bank and earn interest on it.