Up to 5.45% APR.

I am always looking for ways to make my money go further and i don't want to have my full portfolio in crypto for when the markets aren't in our favor, so seeing revolute offering a new savings account caught my eye.

My standard bank account offers 0 interest at the moment while across Ireland you might get 3% in a long term deposit scheme. But that involves opening a new account, making transfers and everything else that banks make us do.

This was extremely simple. I already have a revolute account so i just clicked a button and €1000 appeared on my app. One more click and it went into the dollars section of the new accounts. It's a savings account but there is risk invoved as it is tied to an investment fund which is spread across a lot of reasonably safe investments to generate the returns offered.

Flexible Accounts invest in Money Market Funds, which have low volatility, high liquidity and diversified high-quality instruments. They serve as a competitive choice for customers seeking returns in line with money market rates to safeguard their money against inflation with lower expected risk compared to other investments. However, in unfavourable market conditions you could still lose part or all your principal investment. Historically, these funds were primarily accessible to institutional investors and typically used by corporations and banks to preserve the value of their funds.
Ref: Revolut

4.8% Annual Percentage Yield (APY)

APY is annual percentage yield and represents how much the amount will grow in value over a year if you hold a constant amount in place. I started with 1k so that would earn me $48.0 over the year if i leave it there, paid out on a daily basis. That 48 more than it gets in my current account so a win in my books. Over the year i'll try to get that up to 10k from my savings and make it 480. Not easy but it's worth getting a return on my money where there was none before.

I always talk about micro payments and their importance to building a large stack and this is just one more area where my money can be working for me instead of losing value in my current account

The value could go down but i would expect it to hold pretty level and any large profits they make will be held against market shocks in the future.

Something is better than nothing.

Small gains for the moment but that will be compounded over time and hopefully will see even higher returns along the way. An extra $500 a year is always welcome and with the flexibility of the account i can take the money back out at any stage along the way. It gives the best of both worlds and is a huge improvement on the current offerings form Irish banks.

Revolute are going to shake up the whole industry here which is no harm considering how much of a monopoly the older institutions have over us.

Previous articles.

• With Bitcoin pumping the game is on.
• I like the idea of a circular economy.
• Mortgage is a killer debt.

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