It is a full, proper bank
I know I am way behind the curve on this but how does Revolut differ from Paypal.
Have you tried to use Paypal at an ATM or a POS ?I know I am way behind the curve on this but how does Revolut differ from Paypal.
You have a debit card that you can use anywhere. Shag all fees.
I top mine up just before I use it online. I've had mine several years with no issue.
It's handy being able to block the card as a security feature.
They have a ECB Banking Licence don't they, so does that not give an additional level of comfort with regards to their financial position and their infrastructure ?
Revolut is and in Lithuania. I'll leave it up to you to decide whether the Lithuanian supervisor has the resources to deal with a bank adding accounts at the rate of tens of thousands a month.
This article comparing N26 to Revolut is useful. And this one gives a good overview of some of the issues they've had. They seem a bit chaotic to say the least!
I don't think any bank in the world ever has opened 100k new accounts a month.
From an IT perspective it's feasible I guess, but I have no idea how they carry out anti-money laundering checks.
I'm not sure how broad and thorough their customer due diligence on-boarding is from an AML perspective.
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