Re:Losses at Revolut more than triple to £106m
by Youden on Tuesday August 11, 2020 @02:06PM
(#24123587)
If you're resident in Lithuania and have switched to their bank account, yes, otherwise no.
Revolut has an EU banking license issued by Lithuania [0] but only offers accounts covered by the guarantee in Lithuania [1]. If you are resident elsewhere, you are not protected.
You should think of Revolut and Transferwise as being more like PayPal than a bank.
Revolut has an EU banking license issued by Lithuania [0] but only offers accounts covered by the guarantee in Lithuania [1]. If you are resident elsewhere, you are not protected.
You should think of Revolut and Transferwise as being more like PayPal than a bank.
[0]: https://blog.revolut.com/we-got-a-banking-licence/
[1]: https://blog.revolut.com/revolut-bank-launches-in-lithuania/