4 ms·
Your "online bank" does not sound like an actual bank (much like PayPal isn't one).
by clusterfish 5y ago
Your "online bank" does not sound like an actual bank (much like PayPal isn't one).
- theplumber 5y agoRevolut, Monese and others claim to be online banks...can't tell you exactly what makes an "online bank" an "actual bank" but they provide you individual bank accounts (unlike paypal).
- TrickyRick 5y agoIn Revolut's case it's the banking license that makes them an "actual bank".
- clusterfish 5y agoI'm surprised they don't do KYC before taking your money. You always have to sit through that first with brick and mortar banks...
- theplumber 5y agoIt's part of their strategy to maximise the signups and force you do the KYC when you are vulnerable(i.e you need your money to pay the rent). They are pretty evil.
- clusterfish 5y agoTo rephrase for clarity, I'm surprised they're allowed to delay KYC until you decide to withdraw the money. The evilness was never in doubt!