Is Revolut A Bank In The UK, EU & US? Where Does It Hold A Banking Licence? Can Revolut Be Trusted?

[@thecoinknowledge]

After recording this video on 22nd July, we learned this morning that Revolut has now received a banking licence in the UK! This was the e-mail sent by Revolut: Revolut is now authorised with restrictions as a UK Bank We're becoming a bank, but for now, nothing changes with your account Here at Revolut, we’ve been working hard to deliver faster, better, smarter products, serving over 45 million customers worldwide, and 9+ million customers in the UK alone. Today we’ve been authorised as a UK bank subject to restrictions, an important step towards launching our bank to customers in the UK. What does this mean? Now we enter a “mobilisation” period, a common regulatory stage for many new banks. During this period, we’ll complete the setup of our banking processes before starting to operate as a bank in the UK. What happens now? Until we complete our work building the best possible banking experience for you, we’ll continue operating as usual. You’ll be able to keep using your existing Revolut account as always, with no changes to any of our products or services. And of course, your money will continue to be safeguarded in the same way it always has been with us. Stay tuned - as soon as our setup is complete and we’re ready to launch our UK bank, we’ll make sure to reach out to you. We’ll then explain what the next steps in the process will be for your existing Revolut account to become a UK bank account. What do I need to do? Until we complete the mobilisation stage, nothing! We’ll handle everything and we’ll keep you informed every step of the way. That’s all for now, but we’ll be in touch as soon as we have more information to share with you. If you have any questions, check out our FAQs.

[@Lkadow_dela]

Yeah..

[@johndwalker069]

This is a really useful video, thanks for taking the time to make it and do the research. I have used Revolute for years without issue, for buying crypto etc. and it was going to be the FIAT off ramp this bullrun... you have given me pause for thought on that, would you consider doing a video on best UK FIAT accounts to off ramp with?

[@adanroberts7196]

never had a problem with revolut uk quick easy user friendly

[@arnettbuckers]

Great stuff James. Thanks so much!

[@thecoinknowledge]

My pleasure, glad it was useful!

[@user-bi5fj3sy3i]

Odd timing, but today received an email from Revolut stating they have now become a UK bank with restrictions.

[@thecoinknowledge]

Yes, they announced this at almost exactly the same time the video was published! Thanks for confirming and I included the e-mail from Revolut in the comments section here

[@137dylan]

Great timing: literally confirmed today as now a UK 'bank'.

[@thecoinknowledge]

I know, they announced this at almost exactly the same time the video was published! Thanks for confirming

[@137dylan]

@@thecoinknowledge Makes me wonder tho, will this put an end to Revolut being a reliable interim solution for when depositing from your non crypto friendly bank to an exchange…

[@RHYSDAVIDPOUNDCESTIQUEPound]

Bank.of England is a corporate company the same as all Governments and your local councils.

[@Bornlivemoveon]

Plenty of people having bad experiences especially with crypto.

[@Lkadow_dela]

Nice!

[@philipdebruyn4614]

Hello James, do you have an affiliate link for HTX? I have seen some bad reviews on it and I’m just wondering what you think. I was considering buying Velas VLX on it. I’m also here in the UK. And Bilaxy please? because I would like to get Kompute KAI, on Bilaxy instead of on Uniswap.Thanks, Philip.

[@hakangumustas8553]

Is revolut crypto friendly?

[@dwightperry9811]

I'd never use them to hold any significant amount of money, I just use them as a past through to move money from on account to another or to buy crypto

[@ferencelekes4969]

There was an update on their license just today.

[@thecoinknowledge]

Yes, thanks for the update!

[@evanslukomona8061]

Awesome coaching! Thanks! Question: I am a Zambian with a permanent resident of Germany. Can my kids aged at above 24 and living in Zambia open and use a Revolut account? If yes, would i be able to transfer money to yhem from my Revolut account i opened in Germany 🇩🇪? How much maximum can i transfer in Euros 💶 to Zambia? Thanks in advance!

[@thecoinknowledge]

Thanks, I think these questions would be best for Revolut's customer service team if you wanted to get in touch with them

[@iah1]

People can now on off ramp with no kyc to Bridge app (mont pelerin) but not GBP also Uniswap now connects to Fiat, but I think Usd Euro, not Gbp again I guess because of Gov. reg's and brexit. Seem to be on the verge of decentralisation /Fiat connection.?

[@Bornlivemoveon]

Who is the most friendly crypto bank when transferring money in and out of crypto exchanges?

[@bartz4439]

Not revolut. They ban your account. You can't call them xD total embarrassment

[@attitudeare2012]

I’m with Revolut as a customer I reckon their rubbish business and also they don’t pay your money to your account at the right time

[@Memee833]

Revolut 33 in Chaldean, 113 Ordinal.

[@Cronicjack]

No wonder they are making epic gains in profits because of their crypto selling fees

[@Mark_bowles1]

uk banks are missing all the fee's it could get if they where crypto friendly.

[@skyward711]

So are you saying reverloot are no good wat is your background banking do you werk for a bank

[@skyward711]

The fscs isent werth the paper it's riten on. For private individuales

[@TheSilverHustle]

No, they have not yet got the UK License... I received this email from them today: " Here at Revolut, we’ve been working hard to deliver faster, better, smarter products, serving over 45 million customers worldwide, and 9+ million customers in the UK alone. Today we’ve been authorised as a UK bank subject to restrictions, an important step towards launching our bank to customers in the UK. What does this mean? Now we enter a “mobilisation” period, a common regulatory stage for many new banks. During this period, we’ll complete the setup of our banking processes before starting to operate as a bank in the UK. What happens now? Until we complete our work building the best possible banking experience for you, we’ll continue operating as usual. You’ll be able to keep using your existing Revolut account as always, with no changes to any of our products or services. And of course, your money will continue to be safeguarded in the same way it always has been with us. Stay tuned - as soon as our setup is complete and we’re ready to launch our UK bank, we’ll make sure to reach out to you. We’ll then explain what the next steps in the process will be for your existing Revolut account to become a UK bank account. "

[@thecoinknowledge]

Great, thank you for the update, I think we picked this up at about the same time! They need to go through the 'mobilisation' phase first, so nothing changes for the time being

[@skyward711]

I wuld not believe a werd blumberg says as ites mates in banking industry and frequently produces biest information

[@attitudeare2012]

I’m with Revolut as a customer I reckon their rubbish business and also they don’t pay your money to your account at the right time