Hm, they even seem to accept cards from pretty much anywhere If only I could trust them ā¦
In this FT article from earlier this week with an interview of their CEO - it states they have 600k active accounts. This against claims of over 1.5million users mean that either almost 2 out of 3 signups are no longer active, or maybe they have a lot of users who register but then never pay for a card and never use any of the products. Either way their headline definition of a user seem a lot like Wells Fargo.
https://www.ft.com/content/6f26d10a-051d-11e8-9650-9c0ad2d7c5b5
The article is a premium one, but I always thought the 5Ā£ for a card would be off-putting for alot of people
You can get over FTās paywall if you choose incognito/InPrivate viewing in the browser.
Not working on incognito using Google chrome mobile.
Edit: Google ft revolut and then you can click on the article and read it.
I have just tested Revolut customer service this morning
Had. Response from an agent with 1 min of starting the process
Extremely informative and fully resolved my issue
So I can only state that I have a positive experience with Revolut and have had no issues with my accounts
Last week they had 600k monthly actives and this week they have 800k monthly actives. They are plucking numbers out of the air.
Good on them though, they have come a long way since the days when it was Atom > Tandem > Starling > Monzo > Revolut.
Now itās Monzo > Revolut > Atom > Starling > Tandem.
Just my divisive opinion. Others welcome to their own
Revolut sent this email today - They are offering free cards to new customers;
Seems like also free for existing users who donāt have a card yet.
If you only have a virtual card, you can delete it and then order a physical card for free. Mine is on its way. Donāt think it will be that useful.
Tbh, I suspect they ran this giveaway because card uptake has been low.
I donāt think itās the first time they are running this promotion. They seem to do so occasionally.
Revolutās active user growth isnāt plucked out of thin air given they onboarded 100k new users in a single day in Feb. Quite simply the operate in a much larger geography than Monzo and have been boosted by their crypto offering - which cannot be underestimated.
Also, I use both Monzo and Revolut. I donāt think of one as greater than the other as I get different utility from each app. Monzo for a current account (spending/budgeting) and Revolut for interbank rate currency conversions & crypto exposure.
Unless Monzo plans on expanding into the EU, I think viewing them as competing rather than complimentary products is rather useless.
Yep, Revolut, despite their well-reported customer services difficulties, provide a unique facility - multi-currency wallet + the ability to lock-in FX rates. When my bank provides all that, shanāt need 'em. Till thenā¦
Indeed. Also, like you mention I have noticed their reputation for poor service in the past, which thankfully I havenāt experienced in my 3 months with them. Anytime Iāve ever wanted to speak to a live agent within their app, Iāve been able to promptly and had a solution. With young startups, itās sad that if they make a poor first impression with customers, itās hard for them to shake off negative word of mouth.
Youāre right. I hear theyāve made inroads into the CS thing - good for them.
Donāt TransferWise do the same thing with their Borderless account?
Ah yes, although Iāve used Transferwise on a couple of occasions, Iād only transferred funds from a Sterling to a euro account. Didnāt know they had a debit card facility.
So in that case, we have a choice
I just got their card recently, a lovely bright green one - wonder where they got that idea I like TransferWise a lot, I met some of their team at an event and they seem very switched on. Used their service on a couple of occasions and it worked out great. Iām not sure Iāll get much use out of the card but itās nice to have should I need it.
Thereās probably no real reason to use it instead of Monzo, but itās handy as both a backup card or as a prepaid card if thatās what you want.