But despite its EU banking license, Revolut is not yet a full-fledged bank on its home turf of the United Kingdom, operating with an electronic money institution license instead. To change that status, the challenger bank applied for a U.K. banking license earlier this year, which is expected to be granted in 2022.
Which bank is behind Revolut?
As a result, Revolut itself doesn't store your money, it uses Barclays and Lloyds for that. In early 2021 it also applied for a UK banking license and a bank charter in the US. Since it is not yet a bank, it does not offer any deposit protection.
Where is Revolut head office?
London, United Kingdom
Is Revolut a UK account?
London-based Revolut, a digital banking and payments start-upstart-upStartups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will begin market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and validate their business models.https://en.wikipedia.org › wiki › Startup_companyStartup company - Wikipedia, has set a record as the UK's most valuable private tech company ever. Revolut provides currency exchange, current account and crypto-currency services for customers across 35 countries but is still in the process of attaining a UK banking licence.
Is Revolut legal in Germany?
In January 2022, Revolut launched as a bank (instead of an e-money institution) in additional 10 European countries: Belgium, Denmark, Finland, Germany, Iceland, Lichtenstein, Luxembourg, Netherlands, Spain, and Sweden.