Revolut is currently rolling out new functionality to all customers which will allow you to limit a card to a Pocket. I’ve wondered for years why this wasn’t a thing and think it’s going to be a very popular feature. Here’s why.
Benefits of Limiting a Card to a Revolut Pocket
There are quite a few reasons I really like this feature which is appearing in some Revolut markets already.
Security
The single biggest benefit this brings for Revolut customers is security. And security in a couple of different ways.
First of all, I’ve been using my Revolut account in a very illogical way. But it’s how most people use it. I keep my money in Pockets and take out what I need when I need it.
You’d expect this to be the other way around. I should have various Pockets for my different monthly spending and be able to use different virtual cards or even physical cards to pay. Even better, paying online should be directly linked to a Pocket of my budgeted money so I have greater control over my spending.
That hasn’t been the case until now.
The second reason this is good news for security is much simpler. Disposable cards are absolutely brilliant, but many retailers use the card number to identify these card types. Because they are likely causing higher instances of fraud, or at least perceived to be, retailers refuse to accept them online.
This means the most secure Revolut cards are basically becoming useless with a higher risk of being rejected after you type in that long number than ever before.
Now, you can pop just enough for a transaction into a Pocket, link a non-disposable virtual card, and proceed to complete your transaction. This approach means you are a lot less likely to get a transaction rejected while also limiting how much money that card has access to.
Spending Management
The other obvious benefit to being able to link a Revolut card directly to a Pocket is just general spending management. You can create a card for groceries and add your weekly budget to a Pocket, before linking these two elements. Now, you have a card that can only dip into your grocery fund.
This is something I wanted years ago before joint accounts came along. But there are a plethora of useful ways to use this functionality for better financial organisation.
Revolut’s new functionality allowing you to link cards to Pockets is still rolling out and is popping up in countries all over Europe. Let us know why you’d use this functionality on social.
