But it's hardly material to the OP whose balance never goes above €2,500.With Revolut the only drawback is the lack of deposit insurance. The risk this poses is likely to be minimal but hard to quantify.
The non-ie iban continues to cause problems anytime I try to use it for DD or even salary payments. There are a shocking number of HR systems which are very country specific. Revolut do have https://blog.revolut.com/fighting-against-iban-discrimination/ to help with it, although your mileage may vary.
With Revolut the only drawback is the lack of deposit insurance. The risk this poses is likely to be minimal but hard to quantify.
Because if it was easy to quantify I would probably use certainly rather than probably.So then, how can you say that its probably minimal?
Then why not say its probably a medium risk, or high risk?Because if it was easy to quantify I would probably use certainly rather than probably.
When you say that some biggish surplus's are moved to the CU, just remember that a lot of CU's have limits on what they allow to be kept in accounts.Every few months if there is a biggish surplus I will move it to my CU account or Irish Life Investment Plan. I aim to keep the balance at no more than €2500 at any stage.
When you say that some biggish surplus's are moved to the CU, just remember that a lot of CU's have limits on what they allow to be kept in accounts.
My guess is that for e-money licences the regulatory focus is more on money laundering and less on deposit protection.- that's not a full banking licence btw, it's only a payments licence (which should be a lot easier to obtain!)
To be serious about it, Revolut says it keeps client money in segregated accounts so even if the company goes bust deposits should be fine. That said, there is no 100% guarantee that nothing will go wrong here and no failsafe mechanism if it does. That's why I'm happy to keep around €100 in my Revolut account at any given time but not €2500.Then why not say its probably a medium risk, or high risk?
This seems like a sensible fee free option.I have been using EBS/N26 combi for the last 4 months and has been working well. EBS is really basic but I wanted it more for a joint account/Irish IBAN and running things like mortgage, etc that do not fluctuate much. N26 is for the excellent app, to track my day today spending isnt too crazy.....
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