Just came here to post this!
I have Revolut and will most likely look at it more seriously now that it has FSCS protection.
I presume they want a slice of credit card and/or loans pie, not entirely sure what else they will offer additionally that they donāt already? BNPL ?
Iād like to see an integrated foreign currency account al la Starling. Shouldnāt be a stretch, methinks.
Whatās the difference between the Starling and Revolut Euro accounts?
Probably nothing. Iām interested to see how it will work in practice.
Revolut has placed London at the top of its list of destinations for a stock market float, The Mail on Sunday understands.
The fintech giant, which last week finally received a UK banking licence following a five-year wait, is said to have put the City in āpole positionā for a future listing following discussions with officials at the London Stock Exchange.
Boasting an estimated value of Ā£56 billion, the company is also thought to have been encouraged by indications that it would swiftly enter the FTSE 100 index of blue-chip British firms should it opt for a UK listing.
Revolutās preference for a London float marks a stark change in what had previously been a tempestuous relationship between the fintechās billionaire boss, Nik Storonsky, and Britainās financial regulators.
The company first applied for a UK banking licence in 2021 and, two years later, said approval was āimminentā.
But there was a hiccup when the companyās then-auditor said Ā£477 million of revenue ā about three-quarters of turnover for 2021 ā could not be verified and may have been misstated.
https://www.thisismoney.co.uk/money/markets/article-15645847/Revolut-eyes-London-60bn-float.html
Got the email today saying theyād be moving me over to a bank account! Hopefully this means Revolut becomes a place Iād actually put money (better rates etc). Right now Iām with Zopa for everything
Likewise, though I donāt see me committing my money to them. Inconceivably, I still canāt reconcile the ease with which Revolut would freeze accounts (including mine) until theyād satisfied themselves of my identity.
I know it was in the early days, but having even the slightest likelihood that my main bank might do that, puts the jitters up me.
Iām sure every bank would freeze your account if they werenāt sure of who you are though, no? Difference is Revolut is under more scrutiny and your account doesnāt have 15y of history.
Fortunately never had my account restricted and Iāve bought and sold crypto with it, too.
I agree, but at the time it appeared that it took very little to trigger them. For my part, Iād completed all the checks, got the card, and conducted no activity worth a mention. I can only assume something was off generally and the message was to get all over the ID of customers.
Anyway. Whatās done isā¦ā¦..
What irks me about operators like Revolut is that they have 2 men and a dog working in āComplianceā and it often takes weeks to unfreeze accounts, frozen on the most spurious reasons - usually (not always) in contrast to legacy banks. Iām never, ever going to risk transferring my main account to organisations like Revolut ever.
Having never had a problem with Revolut, and having received the 2-month notice that my account will converted to their full bank account, Iāve decided to use them in anger a bit more. They are offering 4.50% AER savings (even with a free account) until the end of July, so Iāve transferred a smallish amount. Their savings are with Clearbank so already have the FSCS Ā£120,000 protection. Iāve also moved a charity direct debit to them to see how they handle that. Not the end of the world if there are issues with that (although I donāt expect there to be).
I closed my Revolut last year, so theyād probably not let me back in even if I wanted to.
I donāt though btw 
A good plan.