I've heard about Revolut Savings recently and it's been a mindblowing experience to receive a return of 3.57% for EUR account while my bank is giving me a mere 0.01% for cash that's sitting on the account.

I do know that its a variable rate that can go down (we have to see how low it can go) but the fact that there are daily yields and you can get out at any point sounds like a pretty good option for diversifying the portfolio and allowing yourself to have some available cash sitting aside that can be used for eventually investing into something with a higher yield when the time feels right.

But then, why stopping at 3.57% when you can get 4.93% for GBP or even 5.00% for US? (metal plan rates for the day)

Is the only difference between these accounts really the fact that you have to exchange the currency? So since I am on the Metal plan already, I could just exchange my EUR for USD and invest all for the higher yield?

Here is the calculation:
- for 1000 EUR with 3.57% APY you earn 35.7 EUR in a year
- for 1093,9 USD (equal to 1000 EUR) with 5% API you earn 54.7 USD (equal to 48.89 EUR)

This is resulting in 30% increased yield in a year when going with USD option.

From what I can see, potential risks are:
- bad FX rates (either Global or Revolut)
- FX fees introduced by Revolut
- USD APY getting drastically reduced

Am I missing something, is there a catch?

Hey everyone 👋. I was wondering the other day how much money I would need on my savings accounts to justify a Revolut plan with better rates considering the added cost of that plan.

The answer was not really straightforward so I decided to make this sheet to make it a bit more visual.

Feel free to make a copy and use this as you want!

Hello! I'm planning on opening a savings account on Revolut. First, I'd appreciate if someone could explain to me what APY is and I'd also like to know your experiences to determine if it's a good idea

Thanks in advance