I have a Revolut account and they’re an actual bank these days in the EU but not a bank in other places like the UK where they’re still waiting for a licence. N26 is also a proper bank in Europe.
I think it would be madness to use a bank which is not a bank since if the platform collapses then you have no guarantees on your personal savings and the platform could be doing all kinds of shady shit a la FTX because they are not audited or regulated like a bank would be.
I should also mention that while Revolut is a bank now, I sometimes get grief with it. e.g. I went to collect a car rental in the UK and the desk point blank refused the my Revolut card exclaiming it’s a prepaid card when it was actually a Mastercard Debit, a world elite one no less. Didn’t do me any good to argue though because they had some dumb rule and they stuck to their guns.
arc@lemm.ee 8 months ago
I have a Revolut account and they’re an actual bank these days in the EU but not a bank in other places like the UK where they’re still waiting for a licence. N26 is also a proper bank in Europe.
I think it would be madness to use a bank which is not a bank since if the platform collapses then you have no guarantees on your personal savings and the platform could be doing all kinds of shady shit a la FTX because they are not audited or regulated like a bank would be.
I should also mention that while Revolut is a bank now, I sometimes get grief with it. e.g. I went to collect a car rental in the UK and the desk point blank refused the my Revolut card exclaiming it’s a prepaid card when it was actually a Mastercard Debit, a world elite one no less. Didn’t do me any good to argue though because they had some dumb rule and they stuck to their guns.