45 ms·
I didn't realise this. Why would anyone accept this risk and use Revolut as anything more than a place for pocket money while abroad?!
by nsteel 4y ago
I didn't realise this. Why would anyone accept this risk and use Revolut as anything more than a place for pocket money while abroad?!
- Nextgrid 4y agoPeople who have no choice or don't know any better.
- nsteel 4y agoI hope @mojuba is now aware of this. This is not a good "bank if you have other options. Going back to Monzo would be a better choice.
- mojuba 4y agoThey have recently become a real bank and converted the customers' accounts to real current ones. They are a UK bank though due to Brexit for EU-based customers they are a Latvian one (I think).
- nsteel 4y agoPerhaps it is different for the UK part. According to https://www.fscs.org.uk/check-your-money-is-protected/ https://www.fscs.org.uk/check-your-money-is-protected/ Revolut Ltd money is not protected: > Money at risk > Reason why > Revolut Ltd is an e-money institution. FSCS can't provide protection if an e-money institution fails. Money in Revolut savings accounts ("vaults"?) is apparently protected as that money is held with real banks, not Revolut Ltd.