Revolut Chat

I wouldn’t bank on that. If memory serves in the other case, the shares were actually held by a third party and even so costs were deducted from the accounts.

I can imagine that’s what just about everyone would have said about Lehman Bros. in the summer of 2007.

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They certainly did. Lehman were rock solid.

Wirecard even had the German regulator taking the Financial Times to court for even suggesting that anything was wrong.

In the case of the broker that had diffs, the third party that held the shares was fully FSCS covered. The shares were there alright but that didn’t stop the receiver deducting their charges from the various accounts.

Well, it wasn’t exactly “rock solid” was it. Most banks survived the credit crunch, Lehman’s didn’t.

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No, but the impression at the time was that they were. Until they weren’t, of course.

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Does it ever end with Revolut??

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Maybe if they go bust :thinking:

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Absolutely there is zero chance the government would step in, they aren’t a bank. The government doesn’t generally step in and ‘safeguard’ people when general businesses go bust, that’s between the business and the consumer.

Note they also don’t hold any customer funds (because, not a bank!) - any money is held somewhere else. However were they to go bust (which I also think is unlikely) it would be down to the administrators to recover and return those after costs - I’d expect that would be very complex and take a great deal of time with something as big as Revolut.

1 Avios per €10 though… :sweat_smile:

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I’ve never seen but there is a section in the app to add a card you already have, so I guess it relates to that.

Maybe you can’t add funds or spend on it until it’s KYC and activated?

Or could work like a prepaid card you get off the shelf.

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I might be wrong but I think in the past I’ve seen companies hand out (prepaid) cards, they are not active cards and would still require to activate them in the app, after KYC has been completed presumably.

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Revolut used to do this here in England. You could grab a card from Wilkinsons for £4.99 and either register it to your account or sign up and instantly have a card ready to activate. Without an account the card was useless.

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Major plus point of being able to pick one of these up overseas is that BIN would be an EU one and therefore not charged the increasing common non EU charges in EU ATMs. Presumably you could just add one of these cards to your existing Revolut account.

I don’t think there was one for the UK ones? I’ll have a look through and see if I can find the old one I got from Wilko’s later when I’m home.

Nope, no name on the Wilko cards but you could add them to an existing Revolut account or create a new one.

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I’ve got a Revolut<18 card for my youngest. It’s frighteningly easy to add funds to my Revolut account from another bank when I need to top him up. Almost too easy!

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Surely that would be a good thing. I wouldn’t want to use a service if it was difficult?

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