Quick Answer: Is My Money Safe Revolut?

What is the catch with Revolut?

Revolut takes fraud seriously—which should put international travelers at ease.

Here are a few of the things you can do with the app: Get notifications whenever you spend money on the card.

You can set up the app to give you an alert any time you use your card..

What bank is behind Revolut?

Metropolitan Commercial BankRevolut’s partner is New York-based Metropolitan Commercial Bank (MCB). The Revolut app is well-designed, with separate tabs that track your accounts, spending, payments, and cards.

Is Revolut premium worth getting?

The Revolut Premium card might be worth the money if you are traveling regularly for max. 40 days and you aren’t insured elsewhere. The insurance that comes with the Revolut Premium plan will cover you in case of an emergency.

Are Revolut in trouble?

Revolut rumours of ruin run rampant. … In the message sent to the bank’s customers, Nikolay Storonsky, co-founder and CEO of Revolut, said: “The Coronavirus pandemic is causing unprecedented movement in financial markets. Naturally, this can be alarming and can allow rumours and false information to spread quickly.

What is better than Revolut?

Neither charges you to open or hold an account, both allow you to send money internationally and both come with good mobile apps. Monzo wins in this area as they have lower overall fees and don’t charge to provide you with a debit card, whereas Revolut does.

Is your money protected with Revolut?

As an authorised institution, Revolut safeguards your funds as per regulatory requirements. Safeguarding protects you because, in the event of an insolvency of Revolut, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

Is Revolut bank safe?

Yes, Revolut is a legitimate company and a secure option to send money abroad. The company is authorized by the Financial Conduct Authority (FCA). … Rates and fees often change, so for the best deal, make a comparison before every transfer — they may have changed since you last sent money.

Is Revolut a Fscs?

Your normal Revolut accounts (which are e-money accounts you hold with us) are not covered by the Scheme, but are “safeguarded”. This means that whenever money is moved from your Savings Vault back to your normal Revolut account, it stops being protected by the FSCS, but is safeguarded instead.

Is Revolut going under?

Revolut have issued a statement amid rumours that the company is set to ‘go bust. ‘ Yesterday, a message began circulating online, claiming that the company was set to go under, allegedly putting the funds that people have in their accounts and savings vaults at risk. … Revolut has insisted that this is not true.

How do I put money on my Revolut card?

How to add money to your Revolut AccountTap on ‘Accounts’ tab.Click the ‘Add money’ button.Input your debit card or bank account information and tap ‘Continue’Enter the amount of money you want to add and then tap the ‘Add money’ button.

What happens if Revolut goes bust?

If Revolut were to become insolvent, customers would be able to claim this money back from the bank i.e. Lloyds. And according to the FCA, depositors will get their funds back in priority to all other creditors.

Is Revolut Safe 2020?

Revolut is authorized by the FCA, so it meets the FCA requirements for safeguarding and managing clients’ funds. In collaboration with Tier 1 bank partners, clients’ monies are held in ring fenced segregated accounts. Revolut also gives users the ability to take charge of their security.

Why is Revolut not covered by FSCS?

Revolut is authorised by the FCA but does not have a British banking licence. Instead its licence is in Lithuania. Its website says deposits are not FSCS-protected and describes its accounts as “e-money” rather than “current” accounts, with the latter implying the accounts would be protected.