A top option for those who travel frequently. In the UK it might not be able to completely replace your bank.
While at the time of writing it is not operating as a bank, it is slowly turning into one, having gotten a challenger bank license from the European Central Bank in December 2018. As a result, itself does not keep your money, it uses Barclays and Lloyds for that. In early 2021 it also made an application for a UK banking license and a bank charter in the United States. Given that it is not yet a bank, it does not offer any deposit defense.
today we’re going to be evaluating with the objective to help you address questions like need to you get a account and how will it benefit you and to do this we’ll be looking at how e rated on our monito score and what resulted in us giving them an 8.6 this will help us decide whether we can rely on with our cash as
Is Revolut Uk Credit Card the world’s first global financial superapp?
well as get a clear photo of their services and benefits their fees and currency exchange rate and also see how their clients rate established in 2015 is a private company with over 2 000 employees they’re an award-winning company and in 2020 won the uk tech awards for company of the year as of december 2021 their accounts and cards are offered to customers residing in the uk us eu and eea nations australia singapore switzerland and japan unfortunately no canada or brand-new zealand nevertheless brand-new zealand is looking likely in the future if you visit their site they say they have a banking licence which was approved by the european reserve bank in poland and lithuania this enables them to provide banking services in a number of european nations consisting of bulgaria croatia romania slovenia along with france italy and portugal and more nevertheless they’re yet to be approved a banking license in the uk the us or anywhere else they operate however just because they’re not a traditional bank and do not have a banking license
in specific countries doesn’t suggest your money isn’t safe are in fact required to safeguard your cash with bigger financial institutions with a bank like lloyd’s or barclays so if were to fail your money would be safe and because of this and the truth they’re completely managed by the fca in the uk and certified as a bank in particular european countries we scored an 8.9 for trust and reliability with over 16 million consumers already trusting with their cash we believe you can certainly trust them with yours has actually been very ingenious when it concerns banking their mobile app unlike conventional banks is special perfectly developed and actually stands out for its different functions and offerings when you initially sign up you’ll be asked to choose a strategy there are 4 available requirement which is complimentary plus premium and metal these are their costs in the uk but they may differ depending upon where you lie the essential offerings of are readily available across all plans that includes a current account with its budgeting and automated savings benefits currency exchange
worldwide spending atm withdrawals quick and easy cash transfers including bill splitting so you can quickly send out and request cash in addition to stocks and crypto trading nevertheless the various plans will provide you greater advantages within each of these principles for example the more costly to prepare the more cash you can withdraw from an atm without sustaining a charge with the standard free plan depending which precedes you’re either restricted to an overall of 200 pounds or 5