I like this idea.
Also, please allow that multiple people can save to a shared vault and withdraw from it.
It will be a great idea, if it can be implemented. It will be equivalent to holding joint accounts.
However, not a real joint account: other than within the limits of this aspect of Revolut.
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.
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.
Simple account has been offering feature via Shared Accounts in US. Very nice and useful feature to have.
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.
This would be a nice upgrade! Otherwise it’s not really a shared vault.
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.
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
I have more than 10 vaults. Not aware of any limit on the no. of vaults.
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.
Now you can set a date on the vault
What are the purpose of that?
that may be the target date by which you want to reach your savings goal