Fintech startup Revolut is tweaking its subscription plans with a new mid-tier offering called Revolut Plus — it costs £2.99 per month. Like N26 Smart and Monzo Plus, the new plan is a pandemic-proof package that doesn’t focus as much on travel.

For the past couple of years, challenger banks and alternatives to traditional bank accounts have been packaging additional services into paid plans. Essentially, those fintech startups are slowly becoming freemium software-as-a-service companies.

The majority of users don’t subscribe to paid plans. But a small portion is willing to pay a fixed monthly fee to access advanced features, get an insurance package and pay less in variable fees.

Revolut already has two paid plans — Premium and Metal. Premium increases limits on free ATM withdrawals and foreign exchange. You also get overseas medical insurance, delayed baggage and flight insurance and winter sports coverage. You can also access advanced features, such as disposable virtual cards and Revolut Junior accounts

With a Metal plan, your insurance package is a bit more thorough, with purchase protection and car hire excess. You get a tiny bit of cash back on purchases (0.1% in Europe, 1% outside of Europe capped at the monthly subscription price) and higher limits across various products.

Another big selling point has been card designs. With the Metal plan, as the name suggests, you get a metal card. It’s not that useful but some people like it. Premium subscribers can also choose between premium card designs.

Revolut Premium costs £6.99 per month and Revolut Metal costs £12.99 per month (or €7.99 and €13.99, respectively in Europe). You pay a bit less if you pay upfront for a year.

So what is Revolut Plus? It costs £2.99 per month, which makes it a lot more affordable than Revolut Premium. The main selling point is purchase protection provided by Qover. All paid plans now get purchase protection with different limits on damaged or stolen goods (up to £1,000, £2,500 and £10,000 depending on your plan). You can get a refund on purchases up to 90 days after buying eligible products. If you book a ticket and your event is cancelled, you could also get a refund.

In addition to a new card design, Revolut Plus subscribers can also use virtual cards. You can also create junior accounts with the new mid-tier plan.

As you can see, there’s no overseas travel insurance. You also don’t get unlimited free currency exchange (other than spread). Revolut Plus is focused on people who mostly use their Revolut account in their home country.

Revolut is also tweaking other plans, so it’s going to be important to check the terms and conditions before you renew your paid plan. The new Plus plan is available today in the U.K. and will be rolled out next week in the European Economic Area.

Image Credits: Revolut