It started in 2015 as a travel card that offers inexpensive exchange rates. Martin Lewis Travel Cards Revolut… it is now a bank.
It is the fastest growing digital bank with the largest range of functions. A leading option for those who take a trip regularly. Nevertheless, in the UK it may not be able to fully replace your bank.
While at the time of composing it is not running as a bank, it is slowly becoming one, having actually received a challenger bank license from the European Central Bank in December 2018. As a result, itself doesn’t save your money, it uses Barclays and Lloyds for that. In early 2021 it also requested a UK banking license and a bank charter in the United States. Since it is not yet a bank, it does not use any deposit defense.
today we’re going to be evaluating with the objective to help you answer concerns like ought to you get a account and how will it benefit you and to do this we’ll be taking a look at how e ranked on our monito rating and what resulted in us giving them an 8.6 this will help us choose whether we can trust with our money as
Is Martin Lewis Travel Cards Revolut the world’s first global financial superapp?
well as get a clear picture of their services and benefits their costs and currency exchange rate and likewise see how their consumers rate developed in 2015 is a personal business with over 2 000 employees they’re an award-winning company and in 2020 won the uk tech awards for business of the year as of december 2021 their accounts and cards are offered to consumers residing in the uk us eu and eea countries australia singapore switzerland and japan unfortunately no canada or new zealand nevertheless new zealand is looking likely in the near future if you visit their website they say they have a banking licence which was granted by the european reserve bank in poland and lithuania this permits them to provide banking services in a variety of european nations consisting of bulgaria croatia romania slovenia in addition to france italy and portugal and more however they’re yet to be approved a banking license in the uk the us or anywhere else they run however even if they’re not a traditional bank and don’t have a banking license
in specific countries does not mean your money isn’t safe are actually needed to protect your money with larger banks with a bank like lloyd’s or barclays so if were to fold your money would be safe and because of this and the reality they’re fully controlled by the fca in the uk and certified as a bank in certain european nations we scored an 8.9 for trust and credibility with over 16 million customers currently relying on with their money we think you can certainly trust them with yours has actually been really ingenious when it comes to banking their mobile app unlike traditional banks is distinct perfectly developed and actually sticks out for its numerous functions and offerings when you at first register you’ll be asked to choose a strategy there are four available requirement which is complimentary plus premium and metal these are their rates in the uk but they may differ depending on where you lie the essential offerings of are readily available across all strategies that includes a current account with its budgeting and automated savings advantages currency exchange