REVOLUT TECHNOLOGIES JAPAN, the innovator behind the next-generation financial app ‘Revolut,’ will change its policy regarding the free transfer quota to domestic banks and the treatment of funds charged from debit cards starting February 26.
The limit on transferring Japanese Yen to domestic bank accounts in Japan has been eliminated. The number of free transfers varies according to the plan: the Standard plan offers one free transfer, the Premium plan three, and the Metal plan five. After reaching the limit, a fee of 220 JPY per transfer is required. The count starts either from the date of account creation or from the start of the plan usage.
Furthermore, funds charged through debit cards will no longer be available for transfers or ATM withdrawals. Funds charged before the revision can still be used for transfers and withdrawals.
Revolut, established in the UK in July 2015, is a FinTech company that issues multi-currency debit cards with benefits such as small foreign exchange spreads and the ease of transferring money between members.
