Which bank is behind Revolut?

It was not a bank when it started, but Revolut announced in December that it had been granted an EU banking licence by the European Central Bank. It still aims to acquire a full UK banking licence.

D’abord, Is Revolut bank Russian? Because even though I came from Russia and I’m now a British citizen, by descent I am also Ukrainian. My father is Ukrainian. I have family and friends throughout Ukraine – people who I care about deeply, and about whom I am enormously concerned.

Ensuite, Can I use Revolut as a bank account? With Revolut you can: Use it as a UK current account. You get a UK account number and sort code. You can set up recurring payments, withdraw cash at ATMs, make contactless payments, and use Apple Pay and Google Pay.

Is Revolut a British bank?

Revolut is a British financial technology company that offers banking services. Headquartered in London, it was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko.

Par ailleurs, Is Revolut considered a UK bank? Last year, Revolut finally submitted its application for a UK banking licence after operating as an e-money institution in the UK for nearly seven years now.

Is Revolut a UK bank account?

Revolut – one app, all things money

In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 18 million customers around the world use dozens of Revolut’s innovative products to make more than 150 million transactions a month.

Why is Revolut closing accounts?

Revolut claims that the freezing of accounts “could be due to either a breach of our terms and conditions or as part of our security checks which continuously monitor to keep our customers safe. This measure is a regulatory requirement.”

Is Revolut a good bank?

Revolut is rated as ‘Excellent’ on Trustpilot with a score of 4.4/5.0 stars from over 108,000 reviews. 76% rated Revolut as ‘Excellent’ citing great customer service and an easy to use app.

Is Revolut bank free?

Revolut has four different plans :

Standard Plan : Free. Plus Plan (€2.99 a month) Premium Plan (€7.99 a month) Metal Plan (€13.99 a month)

How much money can I have in my Revolut account?

Users who have set up their External Account will be able to hold more money in their Revolut account and transact more easily. If you have set up your External Account, you can hold more than S$5,000 or foreign currency equivalent throughout the day.

What are the benefits of Revolut bank?

Revolut Accounts

Free turbo transfers.
Free overseas medical insurance.
Free unlimited FX volumes.
Delayed flight and delayed baggage insurance.
Free global express delivery to 180 countries in one to three working days.
Spare card to be activated with a tap.
Instant cryptocurrency access.

Is Revolut a true bank?

Revolut launches as a bank in 10 Western European markets, now available in 28 countries. Revolut, the global financial super-app with more than 18 million customers worldwide, has operationalised its Lithuania based European specialised banking licence in 10 European markets.

How do I pay money into my Revolut account?

Adding money to your Revolut account is super easy.

To get started all you have to do is the following:

Tap on ‘Accounts’ tab.
Click the ‘Add money’ button.
Input your debit card or bank account information and tap ‘Continue’
Enter the amount of money you want to add and then tap the ‘Add money’ button.

Does Revolut cost money?

A Summary of Revolut Plans and Charges in Ireland

Standard Plan : Free. Plus Plan (€2.99 a month) Premium Plan (€7.99 a month) Metal Plan (€13.99 a month)

Is Revolut a protected bank?

Because Revolut is authorised by the Financial Conduct Authority (FCA), it must safeguard funds as per FCA requirements, the Electronic Money Regulations 2011 and the Payment Services Regulations 2017. This means that customer funds are stored in a segregated account with Barclays and Lloyds.

What is the advantage of Revolut bank?

But what are the advantages of using Revolut? – Transparency in exchange rates. It is possible to automatically convert the balance from one currency to another and without exchange fees (at the real exchange rate); – The biggest savings in exchange rates are within the app itself.

Does Revolut bank have branches?

We don’t have brick and mortar branches, we don’t call ourselves a traditional bank. Though we are not the same as a traditional bank, your money is protected. Funds with Revolut remain safeguarded in accounts with a tier one UK bank, as per our obligations under the e-money regulations.

Can Revolut steal your money?

Recently, we’ve seen an increase in the number of scammers posing as customer support agents, attempting to trick customers into providing control of their devices or computers, enter their Revolut accounts and steal their money by transferring it to other accounts.

Is Revolut used for money laundering?

Revolut discovered a spate of suspected money laundering on its digital payments system a few months ago, prompting the UK’s fastest growing financial technology company to tell law enforcement authorities and the financial watchdog.

How do I get my money back from Revolut?

A ‘chargeback’ involves Revolut asking the merchant for a refund for your transactions through a formal process defined by Mastercard and Visa. We’ll send all the information you give us to the merchant to prove that you were charged incorrectly. Once raised, the merchant has up to 45 days to respond.

How do I deposit money into Revolut?

Unfortunately we don’t accept cash deposits or cheques to your Revolut account. Please talk to one of our support agents and we will return the money to the cash depositor with a processing fee deducted.

Is there a monthly fee for Revolut?

This fee is 2.5% for Standard and Plus users (and 1.5% for Premium and Metal users). We don’t charge you any other fees for this service. As always, we will show you the rate, the fee, and the total cost in the Revolut app before you make any exchange.

Is Revolut good bank?