Deposit insurance


#21

I believe it is, wouldnt you say so too?

Thanks, but that shouldnt be necessary though. Tagging @AndreasK once more :wink:


#22

I have asked the support chat :thinking: that was their response.


#23

Revolut only works with tier 1 banks, meaning that this is very unlikely to happen. If this were to happen Revolut would do their best to ensure that the funds in that safeguarded account will paid back to the customers.


#24

Thanks Andreas, though considering that is not a very concrete statement as to a policy (“unlikely” and “do their best”) I take this is as “the funds are technically lost” and under some lucky circumstances one might get something back.

So I understand it basically still takes some waiting until ca. 2020 when the banking licence will be fully in place along with the deposit insurance to have funds properly secured up to GBP 85k.

Thanks for the clarification! :+1: