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> There is a difference, N26 is an issuing bank. Monzo and Revolut are too: https://monzo.com/blog/2018/06/07/is-monzo-a-bank/ https://monzo.com/blog/2018/06/
by krn 7y ago
> There is a difference, N26 is an issuing bank.
Monzo and Revolut are too:
https://monzo.com/blog/2018/06/07/is-monzo-a-bank/ https://monzo.com/blog/2018/06/07/is-monzo-a-bank/
https://blog.revolut.com/we-got-a-banking-licence/ https://blog.revolut.com/we-got-a-banking-licence/
- bilekas 7y agoOkay, I don't know too much about Monzo at all tbh, but Revolut got an EU banking license, which means, simularly to the N26, it will not be applicable for the UK Market. If that means they fall bank to not issuing accounts with Deposit protection in the UK, I'm not sure, or if it means they are just waiting to see what happens; sugested here : https://blog.revolut.com/how-we-protected-our-customers-from-brexit/ https://blog.revolut.com/how-we-protected-our-customers-from... It's not sure. But either way, if there are not enough people in the UK market to warrant the hassle of re-investing in the UK, I don't see the issue. The EU feel betrayed by Brexit too.. :(
- throwaway9d0291 7y agoMonzo yes, Revolut no. Revolut has permission to operate a bank but currently does not actually do so. It has the license but doesn't offer full current accounts.
- venantius 7y agoRevolut is a bank in Lithuania but not in the UK.