Then you will be covered by the Russian Deposit Insurance
Then you will be covered by the Russian Deposit InsuranceI presume if Putin invades Lithuania we'll have bigger issues to deal with then whether or not they'll honour the guarantee?
Maybe in a few years - who knows.Could they eventually get into mortgages ?
When you conclude that it's just a holding account with no interest applicable, in an era of zero interest rates, does this really matter?"Will my account change in any way when I join the Bank?
When you join Revolut Bank UAB, you’ll have a Demand Deposit account which works seamlessly alongside your e-money account with Revolut Payments UAB (the one you're using now).
The functionality of your e-money account stays the same, and your money is automatically transferred and stored in your Demand Deposit account with Revolut Bank. When you store your money with Revolut Bank UAB, your deposit is protected by deposit insurance. Please read the Demand Deposit Information for more details.
Even after you join Revolut Bank UAB, you will continue to use your e-money account with Revolut Payments UAB for transfers, so there are no changes to your IBAN details.
Whilst there will be no changes to the way you access existing Revolut services, by joining Revolut Bank UAB, you'll be able to access our new Credit services (personal loans, credit cards)."
Sounds like this account is simply a 'holding' account and the interest rate will always remain at zero. All the news articles are giving people a completely different impression like it will offer higher interest rates to savers.
Same as that. I think a lot of people would be interested if you can use it effectively as a Current Account, with maybe a back-up a/c from EBS in case of any cheque or cash lodgements.Can I get my salary paid into it? And does it have google pay? Looking for options after KBC. Thanks
I've seen reports of some employers refusing to pay to a Lithuania bank account with the LT IBAN number, so you might want to double-check with your employer or colleagues before you finally decide.Can I get my salary paid into it? And does it have google pay? Looking for options after KBC. Thanks
Revolut is under pressure from its auditors to improve internal controls after UK regulators highlighted significant flaws in the auditing of its accounts, including an “unacceptably high” risk of “material misstatement”.
The rapidly growing payments group, which has suffered a string of high-profile defections in its risk and compliance teams in recent months, is the unnamed “financial services provider” whose audit by BDO was criticised by the Financial Reporting Council in its latest audit quality inspections, people familiar with the matter told the Financial Times............................
Revolut must improve “unsexy things like its back office and controls” because it “needs to have a back office like a bank and it’s got the culture of a tech firm”, said a second person familiar with the situation.
Does this mean that deposits (upto 100k) are / are not covered by the guarantee scheme does anyone know?Revolut dismantling Irish business hub after abandoning its licence plan
Digital payments and banking firm Revolut is in the process of dismantling its Irish operating entity after abandoning plans to run its Western European business from Dublin.m.independent.ie
As of today the Central Bank says that Revolut Bank UAB is "authorised in another Member State of the EEA which has notified the Financial Regulator of its intention to provide deposit-taking and other services in the State on a cross-border basis."Does this mean that deposits (upto 100k) are / are not covered by the guarantee scheme does anyone know?
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