> Revolut seems less trustworthy that PayPal

Why?

> And there appears to be a lot less protection for you as their customer.

They have EU banking licenses (depending on where you are a different one applies to you), but they are a regular bank with all the protections that includes for a customer - if they go bankrupt, your money is guaranteed up to a certain extent; they can't just close your account and keep the money like PayPal do, etc. etc..

They may have the licenses, but do they actually do business under them? They did not in the past. So it always looked just like a fun ploy to gain some credibility.

> They may have the licenses, but do they actually do business under them? They did not in the past

What do you mean? They provide banking services, they cannot do that without a banking license to do it under. They used to only have one, in Lithuania, and use it for all operations, but now they have a bunch more and the most appropriate applies (e.g. I'm in France, and I'm under the French one).

Companies can provide money services without a banking license. A lot of companies do.

When I duckduck the question, even revolut has this in their FAQ: https://megous.com/dl/tmp/bbebf0d88acb54d8.png

It's possible to have a license and not use it.