Revolut has said that it will give £70 million to its customers in a 10 per cent cashback scheme via its new travel feature.

The FinTech claimed that the average customer would save £69 a year on accommodation costs for bookings made through the ‘Stays' feature.

The travel product is available to Revolut customers from Wednesday, with the FinTech app planning to gradually roll out the feature to customers across Europe and the US in the coming months.

Revolut has long-term plans to add more travel related products, including flights, car hire, and travel experiences, cementing its expansion into non-financial services through the app.

According to data from the UK-headquartered company, despite travel restrictions, 72 per cent of Brits can’t wait to go abroad as soon as they’re able to. Revolut surveyed 12,000 of its customers across over 10 countries to analyse their attitude towards travelling in the coming months.

“As the world begins to cautiously open up, we know everyone is desperate to get away whenever they can - whether it’s to Margate or Mallorca,” said Marsel Nikaj, head of savings and lifestyle at Revolut. “We’ve built Stays to make it easy for people to find and book their perfect break in their ideal destination.”

Nikaj added: “After 18 months of endless restrictions and lockdowns, we want to give people more and make their money travel further. Revolut is becoming the go-to app for travel, giving you more.”

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