Revolut Ultra vs Klarna Max: The £500+ Fintech Showdown

In the latest episode of Banking Without Borders, we stepped into what might be the ultimate fintech membership battle: Revolut Ultra vs Klarna Max.

Both plans sit north of £500 per year. Both offer metal cards, airport lounge access, subscription bundles, travel insurance and bold claims of “up to £5,000 in annual value.” And both are clearly targeting high-spending, globally mobile customers.

But when you strip away the marketing gloss, these two products are built on very different foundations.

The Pricing & Positioning

• Revolut Ultra: £55/month (£660/year)

• Klarna Max: £44.99/month (~£540/year)

Savvy fintech followers will remember that when Ultra first launched, it was priced at £540 per year — the exact territory Klarna Max now occupies.

Coincidence? Perhaps. But the similarities don’t stop there.

The critical difference: Revolut Ultra is a full current account. Klarna Max, in the UK at least, is not.

Core Utility: Bank Account vs Spending Layer

Revolut Ultra

• Platinum-plated metal card

• £2,000 fee-free ATM withdrawals per rolling month

• Up to 4% AER savings (variable)

• Unlimited weekday FX with no fees

• 1 RevPoint per £1 spent (1:1 Avios transfer)

• 12-month commitment

Klarna Max (UK)

• Rose-gold metal card

• No ATM withdrawals in the UK

• No UK savings interest

• 1% cashback on “Pay in Full”

• Points convert to Avios at 81 Avios per £100 spent

• Month-to-month (with £50 break fee if cancelling within 6 months after ordering the physical card)

The Avios Math

• Spend £100 on Revolut Ultra → 100 Avios

• Spend £100 on Klarna Max → 81 Avios

Unless you heavily use Klarna’s in-app merchant multipliers (up to 10% cashback at select retailers), Revolut wins on base rewards.

The Subscription Mega-Bundle War

Both providers justify their price tags with subscription stacks.

Estimated Monthly Value (Our Analysis)

• Revolut Ultra: ~£413/month

• Klarna Max: ~£218/month

That’s nearly a 50% value gap — despite only a £10 monthly price difference.

Revolut Ultra’s Highlights

• Financial Times Premium (~£55/month)

• WeWork (3 credits/month — potentially ~£135 value)

• ClassPass (20 credits)

• Headspace Premium

• NordVPN Complete

• Perplexity Pro

• MasterClass

• Uber One

• Turo credits

• 3GB global eSIM data

Revolut’s bundle feels engineered for a “global professional” — someone who travels, works remotely and consumes premium business media.

Klarna Max’s Highlights

• ASMALLWORLD Prestige

• The Times & Sunday Times

• Condé Nast titles (Vogue, GQ, etc.)

• Blinkist Premium

• Audiobooks.com (1 credit/month)

• ClassPass

• Headspace

• £80/month retailer discounts

• £8 quarterly membership credit

• 30-day price match

• 2-year extended warranty

Klarna’s bundle feels lifestyle-focused and media-heavy — strong for heavy readers and retail shoppers.

But many of the perks (e.g., £10 Laundryheap credit, Clue Plus) feel niche or gender-skewed. That reduces real-world utilisation for some users.

Lounge Access

• Klarna: ~1,800 lounges globally

• Revolut (DragonPass): ~1,400 lounges

Both offer unlimited access for the primary cardholder, but companions are not included.

Travel Insurance & The “72-Hour Trap”

Both offer:

• “Cancel For Any Reason” — 70% refund

• £2,500 per claim / £5,000 annual cap

• Must cancel 24+ hours before departure

But there are key differences.

Revolut Ultra

• Trip must be booked 72+ hours before departure

• Must pay 75%+ of primary transport & accommodation with Revolut

• £10,000,000 medical cover

• £2,000 car hire excess cover

Klarna Max

• No specific booking lead-time requirement

• Must pay for trip using Klarna account

• £5,000,000 medical cover

• £10,000 car hire excess cover

The Big Gaps

The 72-hour rule means Revolut users booking a last-minute flight 48 hours before departure would not qualify for cancellation cover.

Meanwhile, Klarna’s £10,000 car hire excess protection is genuinely market-leading — especially for frequent US or European SUV renters.

On medical cover, £10m vs £5m sounds dramatic — but for most travellers, both ceilings are likely sufficient.

Is Klarna Copying Revolut?

Klarna now offers tiered memberships: Core, Plus, Premium, Max.
Revolut: Standard, Plus, Premium, Metal, Ultra.

Both include:

• Headspace

• ClassPass

• Metal cards

• Global travel insurance

• Airport lounge access

Klarna’s chairman has admitted the firm lagged Revolut in product diversification. Since then, we’ve seen rapid expansion: global eSIM launches, P2P payments, and broader membership stacking.

One fascinating detail: Klarna Max’s insurance includes ATM theft protection — despite no ATM withdrawals currently being available in the UK. That could signal future functionality.

Who Should Choose What?

Choose Revolut Ultra If:

• You travel internationally frequently

• You value unlimited weekday FX

• You use co-working spaces

• You read the Financial Times

• You want a full current account replacement

• You care about higher Avios earning

• You value built-in global eSIM connectivity

Ultra feels like a power tool for global professionals and HENRYs (High Earners, Not Rich Yet).

Choose Klarna Max If:

• You’re UK-based and media-heavy

• You consume premium newspapers & magazines daily

• You rent cars often (and want £10k excess cover)

• You want strong retail protection

• You prefer a monthly commitment

Klarna Max feels like a lifestyle bundle with insurance layered on top.

The Break-Even Reality Check

• Revolut Ultra pays for itself if you actually use WeWork, FT, ClassPass and FX features.

• Klarna Max pays for itself if you are a heavy reader, frequent shopper and regular car renter.

But here’s the honest warning we gave on the podcast:

Don’t buy either plan for the insurance alone.

Both have fine-print conditions — especially cancellation rules — that can quietly invalidate claims if you don’t read carefully.

Final Verdict

As it stands today:

Revolut Ultra wins the “Final Boss” battle.

It is more mature, more functional, and more coherent as a primary financial hub.

Klarna Max feels ambitious — and possibly unfinished. It may evolve rapidly, but today it leans more toward encouraging spending than enabling global banking.

We’ll revisit this in 6–12 months.