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I've always found this slightly odd, since Monzo is an actual bank (and thus receives FSCS protection) whereas Revolut is not (and does not).
by p0llard 7y ago
I've always found this slightly odd, since Monzo is an actual bank (and thus receives FSCS protection) whereas Revolut is not (and does not).
- joshuaissac 7y agoAmong people I have talked with, and whose bank cards I have seen, in and around London, Monzo is far more popular than Revolut. Revolut does have the advantage that it lets users maintain balances in multiple currencies at the same time.
- p0llard 7y ago> Among people I talk with, and whose bank cards I have seen, in and around London, Monzo is far more popular than Revolut. This has also been my observation. Multi-currency support is something I would like to see come to Monzo, although I'm not sure what regulatory constraints this would apply; my understanding is that most conventional multi-currency accounts (e.g. CitiGold) actually involve multiple accounts in several countries with the parent international bank guaranteeing free transfers between the individual accounts at market rates.
- the_mitsuhiko 7y agoMonzo does not exist outside of the UK (and now US?)