Revolut arrives in New Zealand

New Zealanders can use Revolut to access instant and fee-free foreign currency exchange, peer-to-peer payments, as well as to split group bills.

They can also send and spend in more than 200 currencies at what the firms claims are bank-beating exchange rates with no hidden fees.

Revolut hopes that New Zealand will prove fertile ground, noting that a recent survey by Consumer NZ found that almost 40% of Kiwi consumers don’t trust their banks.

The fintech has registered as a Financial Services Provider and a member of Financial Service Complaints Limited and is now putting together a team on the ground.

Georgia Grange, head, New Zealand, Revolut, says: “Revolut is thrilled to be launching in New Zealand to revolutionise the way Kiwis manage their money, and our waitlist of over 26,000 locals is a clear demonstration that Kiwis feel the same.”