Why I'm Downgrading from Revolut Ultra After 2 Years
After two solid years as a Revolut Ultra subscriber, I've made a decision that might surprise you. I'm downgrading. Not because Revolut is bad (I still love the platform), but because my life circumstances have changed, and I can no longer justify paying €540 per year for benefits I barely use.
If you're wrestling with the same decision or trying to figure out which Revolut plan makes sense for your situation, this breakdown will help you think through the numbers and benefits that actually matter.
My Revolut Ultra Experience: What Worked and What Didn't
Let me be honest about my Ultra experience. When I first signed up, it made perfect sense. I was living in Europe full-time, traveling frequently, and maximizing almost every benefit. The airport lounge access alone saved me hundreds, and the international transfer fee discounts paid for the subscription some months.
But here's what changed: I now spend most of my year in Dubai, UAE, where Revolut isn't officially supported. My business account is based there, and I only use my Revolut card during the few months I'm back in Europe. Suddenly, €45 per month for occasional use doesn't add up.
The Benefits I Stopped Using
Airport Lounge Access: This used to be my favorite perk. But I stopped drinking over a year ago, and honestly, most lounges serve pretty mediocre food that's been sitting around. I'd rather buy a fresh salad at the airport than eat free junk food. Plus, my wife isn't on Ultra, so we'd grab some water and boiled eggs and leave anyway.
eSIM Services: Never used them. I have SIM cards for UAE and Lithuania, and when I travel elsewhere, I use Nomad SIM to buy eSIMs instantly. The 3GB limit on Revolut's eSIM isn't much, and it doesn't come with a phone number.
Travel Insurance: Probably my fault, but I never claimed anything. I know people who are great at using these benefits for surgeries abroad and other claims, but I just didn't take advantage.
Crypto and Stock Trading: If you're serious about investing, there are much better brokers out there. Don't trade crypto on Revolut – it's extremely expensive. I made a whole video about this.
Rev Points: Too confusing for me. I never tracked them or figured out how to redeem them effectively. They're just not my thing.
The One Benefit I'll Actually Miss
The 100% discount on international transfer fees was genuinely valuable when I was doing regular transfers from Europe. Some Wise transfers can cost €45-50 in fees, so this alone sometimes paid for my subscription. But now that I earn in USD in Dubai and mostly do EU transfers, this benefit lost its impact.
Comparing the Plans: Premium vs Metal vs Ultra
When choosing my new plan, I immediately ruled out Plus and Standard. If you're serious about using Revolut, you need at least Premium for the unlimited currency exchange and decent benefits.
| Feature | Premium | Metal | Ultra |
|---|---|---|---|
| PRICING (ANNUAL) | €8.33/month | €13/month | €45/month |
| Card Cashback | 0.6% | 0.8% | 1.0% |
| International Transfer Discount | 20% off fees | 40% off fees | 100% off fees |
| CORE BENEFITS | |||
| Currency Exchange | Unlimited free | Unlimited free | Unlimited free |
| ATM Withdrawals | €400/month free | €800/month free | Unlimited free |
| Airport Lounge Access | Discounted | Discounted | Free access |
| INSURANCE & PROTECTION | |||
| Personal Liability Insurance | Not included | Up to €1M | Up to €1M |
| Travel Insurance | Basic coverage | Enhanced coverage | Premium coverage |
| SUBSCRIPTIONS INCLUDED | |||
| Financial Times | Not included | Full access | Full access |
| NordVPN | Standard plan | Plus plan | Complete plan |
| Perplexity Pro | Included | Included | Included |
| Wolt (Food Delivery) | Included | Included | Included |
| ADDITIONAL PERKS | |||
| Kids/Teen Accounts | 2 accounts | 5 accounts | 5 accounts |
| Savings Interest Rate | Standard rate | Enhanced rate | Premium rate |
| Global eSIM | Not included | Not included | 3GB monthly |
The real decision came down to Premium (€8.33/month paid annually) versus Metal (€13/month paid annually). Here's how I broke it down.
Why I Chose Metal Over Premium
Cashback Difference: Premium gives 0.6% cashback, Metal gives 0.8%. That 0.2% difference can easily cover the €5 monthly price difference if you spend enough on the card.
Financial Times Access: This was huge for me. A Financial Times subscription costs around $40/month on its own. Getting it included in Metal for an extra €5/month is incredible value if you actually read it (which I do daily).
Personal Liability Insurance: Here's something that wasn't clearly shown in the app but appears on the website. Metal includes personal liability insurance up to €1 million for damages or injuries you cause to third parties while abroad. Premium doesn't have this at all. For €5 extra per month, this peace of mind is worth it.
Better Savings Rates: Metal offers higher interest rates on their savings accounts. It's not massive, but every bit helps when you're parking money there.
International Transfer Discounts: 40% off fees versus 20% on Premium. Since I still do occasional international transfers, this difference can add up quickly.
What Stays the Same
Both Premium and Metal give you:
Unlimited fee-free currency exchange (crucial for me)
Same purchase protection and insurance basics
NordVPN access (Standard on Premium, Plus on Metal, but Standard works fine for me)
Most of the same app subscriptions
Weekend support (though I rarely need it)
The Numbers Game: Does It Make Financial Sense?
Here's my honest math. My total Revolut cashback over two years was €99, with €23 just this month (though that was unusually high due to apartment expenses). If I spend €1,000 per month on average:
Premium (0.6%): €6 cashback
Metal (0.8%): €8 cashback
Ultra (1.0%): €10 cashback
The €2 monthly difference between Premium and Metal (€8 vs €6 cashback) doesn't cover the €5 price difference. But add in Financial Times value, better insurance, and higher savings rates, and Metal becomes the clear winner for my situation.
How to Make This Decision for Yourself
Ask yourself these key questions:
How much do you actually spend on the card? If it's under €500/month, even Ultra's 1% cashback won't justify the €45 monthly cost through cashback alone.
Do you use the premium benefits? Airport lounges, crypto trading, premium app subscriptions – be honest about what you actually use versus what sounds nice to have.
Where do you live and travel? If you're doing frequent international transfers or currency exchanges, the fee savings on higher plans can be substantial.
What's your lifestyle? I don't drink anymore and eat clean, so airport lounges lost their appeal. Your situation might be completely different.
Making the Switch
The actual downgrade process is straightforward. I simply selected Metal on the Revolut website, chose to pay annually (for the discount), and it will automatically switch when my Ultra subscription expires on June 17th.
One thing I'm curious about: whether my existing subscriptions like Financial Times and NordVPN will automatically adjust to the new plan level, or if I'll need to re-register. I'll update you on how that goes.
The Bottom Line
Revolut Ultra made sense for me two years ago when my circumstances were different. Now, Metal gives me 90% of what I need at less than one-third the cost. That's an extra €385 per year I can invest or use elsewhere.
The key lesson? Review your subscriptions regularly. Life changes, and what made sense last year might not make sense today. I track all my subscriptions (nearly €1,000/month total) in a spreadsheet that syncs with my calendar, so I never miss renewal dates or forget to evaluate whether I'm still getting value.
Your situation is unique. Maybe you're a frequent business traveler who maximizes lounge access. Maybe you do serious international transfers monthly. Maybe you love having every premium app subscription included. If so, Ultra or Metal might be perfect for you.
But if you're like me and your usage has decreased, don't just auto-renew out of habit. Run the numbers, be honest about what you actually use, and choose the plan that fits your current life, not your past one.
Frequently Asked Questions
Is it worth upgrading from Standard to Premium? Absolutely, if you do any international spending or currency exchange. The unlimited fee-free currency exchange alone makes Premium worth it. Plus you get basic travel insurance and purchase protection.
Should I pay monthly or annually for Revolut plans? Always annually if you're committed. You save about 20% on all paid plans. Premium drops from €10 to €8.33 monthly, and Metal from €16 to €13 monthly when paid annually.
Can I change plans anytime? Yes, you can upgrade immediately or downgrade at your next billing cycle. Upgrades are prorated, but downgrades take effect when your current subscription expires.
Is Revolut good for investing and crypto? For basic stock and ETF investing, it's okay, especially since they now allow transfers to other brokers. But for crypto, avoid it completely. The fees are extremely high compared to dedicated crypto exchanges.
What happens to my benefits when I downgrade? You keep using current benefits until your billing cycle ends, then switch to new plan benefits. Some services like Financial Times might require re-authentication, but most should transfer automatically.
How do I track which plan makes financial sense? Calculate your monthly spending, multiply by the cashback percentage, then add up other benefits you actually use. If the total value exceeds the monthly cost, that plan makes sense. Don't forget to factor in transfer fee savings if you do international transfers.
Should I consider other digital banks instead? Revolut is still one of the best for international use and currency exchange. But if you're primarily domestic, your local banks might offer better savings rates or credit cards with higher cashback. Always compare based on your actual usage patterns.
Why I Cancelled Revolut Ultra After 2 Years
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