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I'm also very sceptical of that 10 million customers line. Do you think its just people that have opened an account with them at any point? I bet the DAU (a rea

I'm also very sceptical of that 10 million customers line. Do you think its just people that have opened an account with them at any point? I bet the DAU (a reasonable metric for someones main bank, especially in today's cashless society) is a very small percentage of that.

jermaustin1 7y ago
I'm less skeptical that they have a high number of active users, but probably not a high number of users that use this "bank" like a real bank. I use another "neobank" called Simple in the US. It is not a primary account. It is how I divvy up allowance to my wife and I for our weekly fun money ($70/person/week). Can be spent on anything we want, but once it's gone its gone. I use mine for lunches, she packs a lunch and uses hers for shopping. We both save a certain percentage of that to pay for vacations. Our typical average monthly balance is in the low 3 figures. Like currently I have $110 in savings and $45 in checking. I have no clue about how much my wife has, and that is the beauty of it.
- johnday 7y ago
  I'm with Monzo in the UK and use it similarly, Twice a month or so, £100 goes in there to pay for things like dining out and the occasional grocery shop. It's a nice way of separating the dailies from the monthlies. It means my Old Fashioned Bank's statement is readable.
ferongr 7y ago
I'm one of those "customers". I tried using connecting to my old account to check out the app after 4 years but I was asked for ID verification, which for some reason failed, in order to be able to do anything. I can't close my account since there's a 20 eurocent balance on it, so it probably still counts as a "customer" account even though I can't use it in any way.
Youden 7y ago
> a reasonable metric for someones main bank, especially in today's cashless society In Europe, the primary region for Revolut at the moment, cashlessness is highly variable. In a country like the UK or The Netherlands, DAU might be a reasonable measure but in say Germany, which is largely still cash-based, it's less relevant. I'd say MAU or something like that makes more sense for a predominantly European financial service (Revolut is not a bank, it does not offer bank accounts).
ilikerashers 7y ago
I just use it when abroad (my high street bank FX is terrible) so I might be one of those casual customers. The crypto and "premium" features don't interest me in the slightest. I might be just outside the millennial target market though.

jermaustin1 7y ago

I'm less skeptical that they have a high number of active users, but probably not a high number of users that use this "bank" like a real bank. I use another "neobank" called Simple in the US. It is not a primary account. It is how I divvy up allowance to my wife and I for our weekly fun money ($70/person/week). Can be spent on anything we want, but once it's gone its gone. I use mine for lunches, she packs a lunch and uses hers for shopping. We both save a certain percentage of that to pay for vacations. Our typical average monthly balance is in the low 3 figures. Like currently I have $110 in savings and $45 in checking. I have no clue about how much my wife has, and that is the beauty of it.

johnday 7y ago
I'm with Monzo in the UK and use it similarly, Twice a month or so, £100 goes in there to pay for things like dining out and the occasional grocery shop. It's a nice way of separating the dailies from the monthlies. It means my Old Fashioned Bank's statement is readable.

ferongr 7y ago

I'm one of those "customers". I tried using connecting to my old account to check out the app after 4 years but I was asked for ID verification, which for some reason failed, in order to be able to do anything. I can't close my account since there's a 20 eurocent balance on it, so it probably still counts as a "customer" account even though I can't use it in any way.

Youden 7y ago

> a reasonable metric for someones main bank, especially in today's cashless society In Europe, the primary region for Revolut at the moment, cashlessness is highly variable. In a country like the UK or The Netherlands, DAU might be a reasonable measure but in say Germany, which is largely still cash-based, it's less relevant. I'd say MAU or something like that makes more sense for a predominantly European financial service (Revolut is not a bank, it does not offer bank accounts).

ilikerashers 7y ago

I just use it when abroad (my high street bank FX is terrible) so I might be one of those casual customers. The crypto and "premium" features don't interest me in the slightest. I might be just outside the millennial target market though.