Clearly, Revolut is in a hurry. Too early too. Last March, we reported that Newbank announced that it had attracted three million customers in France. Just eight months later, that number has now grown to four million. Growth was even faster than expected for the British player, which at the time reported growing 100,000 additional users per month. The acquisition rate is now about 150,000 new monthly users. Revolut therefore confirms its position as a strong challenger to traditional banking institutions in France. Especially since its recent performance puts online banking at the top of the most downloaded banking applications in 2024, ahead of established players like BoursoBank and Crédit Agricole.
France, a preferred market
To establish its notoriety among the general French public, Revolut claims to have deployed a multi-pronged marketing strategy. Newbank has thus been able to establish important strategic partnerships, particularly with the NBA. He has also partnered with top influencers like Lena Situations and Squeezie. This decidedly modern approach to the bank, combined with traditional poster and television campaigns, has significantly strengthened Revolut’s visibility in France.
The French market now lags behind its native UK in terms of revenue and growth for Revolt. A position that justifies a massive investment commitment. Last month, Neubank announced a minimum investment envelope of 100 million euros for the French market. The brand’s growth and marketing director, Anton LeNeil, doesn’t seem complacent about the current trend and is even more excited when he says, “ Our investment in France is bearing fruit, but we have not yet reached our maximum speed of acquisition. »
Teeth that scrape the floor.
Still according to the brand, the year 2025 promises to be even more ambitious, with the planned introduction of Livret A as well as the development of real estate loans. These new products will complement the already extensive offering. Revolut obviously aims 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 to the established players in the French banking market. However, if today neobank has 4 million customers in France – out of more than 45 million customers worldwide -, it is still behind BoursoBank and its 6.5 million customers. However, Revolut’s pace of growth suggests it could soon rival the French’s preferred online bank. Newbank also aims for an ambitious target of 20 million customers by 2029.
An interest bearing savings account
Hence it does not intend to stop there and is relying on its diversification of services to continue its growth. Thus, a few days before announcing the number of its French users, Revolut unveiled a new savings account with daily fees for the French market. Samaria had already created such an account last May. But its mention is rare for us. Especially since this paid savings at Revolut offers a pretty unique feature: daily payouts. In fact, unlike traditional savings accounts that calculate interest every fortnight, Revolut pays interest every day! As for interest rates, they vary from 1% to 3.25% compounded annually, depending on the package chosen by the customer. Finally, the maximum authorized amount on this account is 100,000 euros. Remember that the Livret A costs just €22,950.
Finally, to promote this new product, Revolut is offering a promotional offer: 3.25% gross rate for all new customers who register between October 24 and November 30, 2024 until March 2025, regardless of their plan. will benefit from
