Robinhood, in Need of Cash, Raises $1B from Its Investors

Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by nly on Friday January 29, 2021 @04:56AM (#25955738)

If you need a EUR account with a good app, TransferWise, who power Revoluts multicurrency action on the backend, are pretty decent. Horrid luminous green card though.

I'm an investor in Revolut due to their aggressive growth strategy, but I wouldn't use them personally.

As for Monzo, I like their app but missing features like being able to view your full CVV number in app, or link the app to all your other bank accounts on the free tier, basically prevent me from using them as my primary bank

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by youngtaff on Friday January 29, 2021 @05:24AM (#25955905)

TransferWise aren't a bank so the financial protects are slightly different

I use them for some of my overseas customers, my only challenge with them is the limited number of currencies they support e.g. had to open a Revolut account to get payment from a Canadian customer

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by nly on Friday January 29, 2021 @05:56AM (#25956070)

TW have all the functional features of a bank lots of people care about. A debit card, direct debits, standing orders etc. I of course recognize they aren't a fully licensed bank, but for EUR balances they are worth a look

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by design-material on Friday January 29, 2021 @07:52AM (#25956712)

The reason a Bank is strictly defined is that TW does not guarantee any cash that you have stored with them.

With a bank you have up to £85,000 insured and guaranteed e.g. if the bank fails

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by Gaelan on Friday January 29, 2021 @08:06AM (#25956832)

IIRC TransferWise holds all your money in escrow (as opposed to investing it or w/e), so they don't need to guarantee it. I'm not sure off hand if that's just what they claim, or if they actually make a legal promise to that effect.

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by nly on Friday January 29, 2021 @05:02AM (#25955770)

To expand on my last paragraph: Revolut actually do spending analytics across all your linked accounts. on the free tier.

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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by robotmay on Friday January 29, 2021 @07:04AM (#25956415)

Aw I kinda like the brutally green card :D

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