Revolut Shared Vaults

[Komori]

Does anyone know if using a shared vault do all parties have access to the full fund or just what they have put in themselves. Can’t find an answer online.

 

[jim]

I didnt think you coukd even do a shared vault.

 

[50andOut]

You can share. Up till now i thought only the person who set up the vault could withdraw funds (even where you have deposited) whereas anyone you link to the vault can deposit.

Looking at a shared vault I have now with the missus and there's a tag saying "withdrawal disabled" so I guess there's now also a way of allowing withdrawals for shared vaults.

No idea if that withdrawal option is limited to the amount you deposited or if it's at an overall balance level - be useful to know though if anyone has it set up?

50+o

 

[Hanata]

The admin (person who set up the vault) can edit the permissions of anyone the vault is shared with at any time. So you can set each person as "deposit and withdraw" or "deposit only". Anyone who has the ability to withdraw can withdraw the full amount in the vault, it's not limited to what they have deposited.

 

[Komori]

The admin (person who set up the vault) can edit the permissions of anyone the vault is shared with at any time. So you can set each person as "deposit and withdraw" or "deposit only". Anyone who has the ability to withdraw can withdraw the full amount in the vault, it's not limited to what they have deposited.

Ok, thanks for the reply. So a great deal of trust is involved here, whether it’s two people or a group of people.

 

[Blackrock1]

Ok, thanks for the reply. So a great deal of trust is involved here, whether it’s two people or a group of people.

Same as a joint bank account in that regard