Fintech startup Revolut possesses its own banking license in the European Union since late 2018. The lets the company offer a quantity of additional financial services without joining up with third-party companies. With company is going to let you switch to Revolut Bank living in 10 additional countries.
The Bank of Lithuania has granted a qualified license — it isn’t a full-fledged license by itself, as it focuses on some events. The company is taking advantage of Places passporting rules to figure in other European countries. Right now, Revolut takes advantage of its banking state-certified in two countries — Poland and Lithuania.
In Lithuania one example is, you can apply for a credit card with a credit limit that’s twice the value of your monthly earnings (up to €6, 000). The company also offers personal loans between €1, 000 because €15, 000. You can cover over one to 60 a long time.
Now, customers in Getaway, Croatia, Cyprus, Estonia, A holiday in greece, Latvia, Malta, Romania, Eu – slovakia and Slovenia will be able to transformed into Revolut Bank customers. It isn’t a transparent process, though you need to get through a few steps to carry your account over.
But once this action is done, your deposits include protected under the deposit make sure of scheme. If Revolut Financial shutters at some point down the road, account holders can claim up to €100, 000 thanks to the scheme — both euros and foreign currency echange are protected.
You can expect new credit tools in the 10 new niches. Overall, Revolut has interested in 15 million customers. Oe aftermarket recently announced that it was throughout requesting a banking license in the U. E., its home country and its principal market.