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May 2022: What's new from Revolut Business

May 19, 2022

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
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Spring is in full swing, and a feeling of freshness is in the air. We’ve embraced this full-force, developing a whole raft of new features built to ensure your Q2 is a cruise.

This month, we’re transforming the way you see payment fees, as well as the notifications you receive when money goes in or out of your account. Alongside this, we’ve made spend management even simpler with new control presets, and powerful updates to FX Forwards, your notifications and more.

Ready to see what’s in store? Dive in below.

Every fee, broken down

So you’re about to make a payment, and a fee is added to your transaction. But what is contributing to that fee, and where does it come from? You asked for more transparency, so that’s what we’re delivering.

Now, you’ll be able to see what you are being charged for in detail, giving you the ability to clearly assess the cost before you hit send. You can also see how much of your free allowance balance is remaining to help inform your decision further.

Payment notifications, streamlined and simplified

It’s not just payment fees that have seen an upgrade this month. When you send or receive a payment, you’ll now be sent a push notification that’ll take you into your account to view all the important details you need.

This gives you a clearer overview of your cash flow, as well as helping you respond quicker when necessary. So, next time action is required – think payment approvals, or a failed transaction – you’ll be able to address it immediately. Alongside this, you’ll also receive a new-look email, giving you a summary of your daily transfers (as well as scheduled payment reminders, too).

FX keeps moving Forwards for UK businesses

For UK users, it’s time to turn the spotlight onto FX Forwards: pre-agreed rates to safeguard your business from unfavourable fluctuations involving USD or EUR.

Not only can UK customers now book contracts with a six-month duration, but the initial deposit requirement has been capped at a maximum of 5%. As well as this, the minimum approved notional limit has been raised to £50,000 – and you can get this reviewed in a couple of clicks, directly from the web app. That means more flexibility, right when you need it.

Spend control made easier with presets

Ready to remove even more manual admin? Now, instead of having to define individual user permissions – monthly limit, single transaction limit, permitted categories and more – you can link multiple cards to a predetermined preset. All linked cards will have the same rules automatically applied. Easy.

And that’s a wrap!

A whole host of fresh features to keep your business blooming ‘til the summer comes. We’ll be back next month – same time, same place.

Why leave it there?

To find out more about Revolut

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