N26 customers feel betrayed by the German digital bank’s decision to quit the UK

Re:N26 customers feel betrayed by the German digital bank’s ... by bilekas on Monday February 17, 2020 @05:54AM (#22346780)

There is a difference, N26 is an issuing bank. That means they have to follow different regulations than Revolut for example.

Its not as black and white, as usual with banking nonsense.

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Re:N26 customers feel betrayed by the German digital bank’s ... by krn on Monday February 17, 2020 @05:58AM (#22346802)

> There is a difference, N26 is an issuing bank.

Monzo and Revolut are too:

https://monzo.com/blog/2018/06/07/is-monzo-a-bank/

https://blog.revolut.com/we-got-a-banking-licence/

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Re:N26 customers feel betrayed by the German digital bank’s ... by bilekas on Monday February 17, 2020 @06:24AM (#22346907)

Okay, I don't know too much about Monzo at all tbh, but Revolut got an EU banking license, which means, simularly to the N26, it will not be applicable for the UK Market.

If that means they fall bank to not issuing accounts with Deposit protection in the UK, I'm not sure, or if it means they are just waiting to see what happens; sugested here : https://blog.revolut.com/how-we-protected-our-customers-from...

It's not sure. But either way, if there are not enough people in the UK market to warrant the hassle of re-investing in the UK, I don't see the issue.

The EU feel betrayed by Brexit too.. :(

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Re:N26 customers feel betrayed by the German digital bank’s ... by throwaway9d0291 on Monday February 17, 2020 @06:50AM (#22347025)

Monzo yes, Revolut no.

Revolut has permission to operate a bank but currently does not actually do so. It has the license but doesn't offer full current accounts.

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Re:N26 customers feel betrayed by the German digital bank’s ... by venantius on Monday February 17, 2020 @07:17AM (#22347159)

Revolut is a bank in Lithuania but not in the UK.

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