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They 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
by mojuba 4y ago
They 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.