Vaults & Group Vaults Improvement Suggestions

Ideas & Feedback
21

I like this idea. :ok_hand:

3 Likes
22

Also, please allow that multiple people can save to a shared vault and withdraw from it.

4 Likes
23

It will be a great idea, if it can be implemented. It will be equivalent to holding joint accounts.

1 Like
24

However, not a real joint account: other than within the limits of this aspect of Revolut.

2 Likes
25

Not sure whether it is a bug or an issue to be addressed by Revolut team.
I have set up a Vault with Round Up Savings. So far, it has been working well. Today, there were two declined transactions (due to this being the first payment made on this web store.). in a row. But, the Round Up Rule was activated in both cases. I think it is not a correct way of savings. When the transaction is not completed, the rules connected to that activity should be disabled. Hope Revolut can review and update it.

1 Like
26

Right now, I can set up only one recurring transfer to a particular vault. It would be good to have a multiple transfers to a particular vault. For example, I would like to set up a transfer on 1st and 15th every month. Also, I may want to set up every week transfer. Currently, I am restricted to set up a single recurring transfer.

1 Like
27

Simple account has been offering feature via Shared Accounts in US. Very nice and useful feature to have.

1 Like
28

Ally bank has launched Savings Bucket feature recently. https://www.ally.com/do-it-right/banking/what-are-ally-banks-savings-buckets-and-boosters/
It is a smart feature. One savings account can be divided into 10 different buckets. No need to move the money to different accounts to save for different goals. If Revolut can enable a rule to move the incoming funds to different vaults, they will be able to make this vaults more powerful.

1 Like
29

This would be a nice upgrade! Otherwise it’s not really a shared vault.

1 Like
30

I found out today that you could have both admin and member to set up rounding up. Revolut allows only one round up per account. If you have already set up round up option in another vault, you can cancel it and move it to your group vault. :+1:

31

I use vaults to separate my money and expenses. For example house bills, supermarket or even if I have an goal to fund an a travel or an gift to myself.

The limit of the 10 vaults, break the usefulness of the feature :frowning:

1 Like
32

I have more than 10 vaults. Not aware of any limit on the no. of vaults.

33

It would be good to see the date of next recurring transfer.
Currently, there is no way to check when the next recurring transfer is going to take place.

1 Like
34

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Try to create a new vault then!

1 Like
35

It is weird. I don’t have any restriction on my phone. In fact, just now created the 12th vault :point_down:

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36

Now you can set a date on the vault
What are the purpose of that?

37

that may be the target date by which you want to reach your savings goal

38

One more idea of how to create vaults, even more, user friendly.
It would be great if there would be an option to withdraw the same amount of money you spend in a shop from one of your Vaults.

Here is an example:
I have a Vault where I save my money for different gadgets. I already saved 300€. One day I buy a new smartwatch for 199.99€ using my Revolut card. In-App there should be an option to withdraw this spent amount of money from Vault.

Now you must input the amount of money to withdraw manually.

4 Likes
39

I think that it would be great having a kind of vaults for the budget.
What I mean with that is when I set the monthly budget, the application automatically creates a vault for each category that I have set. Then the amount that I set for that category is moved from my account into that “vault” and every payment of that category will be taken from that vault (In case that vault hasn’t enought money, the payment it will be charge from the “general account”). That would be great for a bigger control of my budget.

In addition, another thing that would be great to integreate is the mechanism that monzo has which set a shedule payment into a specific vault.

Also, when there is an vault wich is set round up. When I make a payment in €, the function “round up” is activated and x amount of money is converted into £ for my vault. For my this would be considered as a bug. I think that if any transaction which is not in the same currency as the vault (in my case £), it shouldn’t round up.
A related thing… Why we cannot create vaults in different currencies?

40

There are a lot of useful feature request listed here.
The way I would like to use the vaults are the following.

  • Set up a one of payment for every month from my main bank account. Fix amount, fix date.
  • In the app I would like to set up, the Vault 1 (which is my iTunes vault), I would like to add 20GBP every month after the monthly transfer has arrived.
  • I would like to have the same option for multiple vaults (holiday, XMas, credit card repayment what ever the users like)
  • I would like to define, that my iTunes spending will be covered from vault 1 and my Amazon purchases by vault 2.

A feature like this would enrich the usability of the Revolut account.

3 Likes