Credit Rating & Banking History

If one was to move all personal banking to such a company as this (fintech) what impacts does it / will it have on credit ratings… Or when needing to buy a house?
I can only assume the retail bank arent too happy about all of this this and will do what they can to oppose and make life difficult.

Just thinking

Hey Piers. I am not sure about the credit ratings etc. as we do not use that system where i live. But i would caution you to move everything to Revolut until they get their banking license. Until they have that they are under different regulations that require them to be more vigilant about money fraud etc etc.

Personally i use my Revolut account day to day for groceries etc. but i wouldn’t keep funds for a house on it yet :slight_smile:


I fully second that.

Revolut has a great concept and a lot of potential - but IMHO it is not quite ready for prime time yet. The banking licence could change that of course.

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Thanks Guys… Lets see if the banking license will be granted

I assume it will, but will still take some time.

If you are in the UK i’d go with Starling or Monzo, they are REAL banks already and offers most of the same services as Revolut. Customer service is better as well for both.

They don’t offer multi currency wallets and interbank exchange rates, which is what I mostly use Revolut for. (I also have a Monzo account).

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Precisely, and they are not available outside of the UK. One can criticise Revolut for a lot, but their set of services is unique so far. Once they have a banking licence there should be also more “safety” - one can only hope that support will catch up too.


I agree once they get their banking license it will be a game changer for banking. That does call in to question how easy that will be for them as it will upset alot of the traditional institutions… They may face more resistance than anticipated.

I look forward to seeing how they develop.