ETA's and the Future of Revolut


It’d be nice if we could get some rough idea of the other things now that the banking licence had come through :wink:

For instance, will any of the following be coming within the next 6-12 months.

  • UK proper current account (and banking licence as we’re leaving the EU, sadly) with direct debits and overdrafts
  • proper debit cards
  • more local accounts (if any particular ones, specify please)
  • choosing issuer types :thinking:
  • MasterCard 3DSecure, Verified by VISA, MaestroCard equivalent if applicable

I’ve been waiting for a while and whenever I ask there’s no ETA. It’s been roughly a year since everything was said it’s going to happen.

Is there anything else I should be expecting with the US/JP/SG/HK launches? Local accounts for those currencies?

I’d also like some assurances preferably from the CEO himself @AndreasK about what Revolut is doing to ensure Brexit won’t ruin the experience of Revolut for the UK or any of the other EEA countries.

Chad West went to 10 Downing to discuss the grievances that Revolut has. Why haven’t we heard what’s been discussed? I surely won’t have access to a Lithuanian bank account after we’ve left the EU.

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I really need some assurances about your operations in the UK, Revolut

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I hope there is no hysterical panic in Revolut’s office now - “we got bank licence, what we will do now, arghhh, need more staff” :smile:

Jokes aside - I think realistically it will take another year (2019) to see any changes/new offers etc.



true, but we are only 3 months away from doomsday



Assuming Labour doesn’t back a second referendum that Remain wins :wink::wink::wink:

I’m honestly clueless as to what’s happening now. I was expecting May to lose the confidence vote and for a newly appointed Conservative hard Brexit government to fail a confidence vote also, pushing it to a general election.

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Slightly off topic, but as a swiss, I have to say:
relax about the Brexit! There was a world BEFORE EEC (1992) and EU (1996). Everything worked good. Sure, it’s gonna be hard in the first few weeks to remember how to do things without orders from brussel. Say grace to the remainers who ignored the world before 1992 and did everything to blur “the difference between europe and EU”… But you’ll all survive (even after the Euro (that should have made paris and frankfurt more important) - greater london area is too important for global business world for the EU to lock the UK out completly)… (EEC and EU were made to lock out those who don’t want to joyn. EEC-members like austria, lichtenstein and norway even were forced by brussel to leave EFTA when joyning EEC! among other things - ask austrians if they regret joyning the EU, and why norway doesn’t joyn!)

…tl;dr: there’s a world outside the EU, and it’s great! Especially when you came to see the difference between EU, Europe, european parliament, parliament of europe (edit: or is it called “counsil of europe”? couldn’t find a correct translation in time) (and where certain “EU”-accomplishments REALY came from)…

And yeah, it’s a miracle how May survived the confidence vote…



There was a world before the tools we currently have - the tools we currently have however are indespensible to do things we can now do that we couldn’t before. Like making sure people with cancer don’t die, would you suggest we sacrifice something like that also? If we had a referendum to remove something that only benefits us.

You’ll find our parliament legislates already and doesn’t take every single thing it does as an order from Brussels.

I can’t blame them. The EU have done a lot of good for Europe in general - for instance most of Europe now have a 48 hour working week cap and privacy laws stronger than our own, but our government broke EU law to get weaker privacy law and got an opt-out of the working week.

Germany does have a stronger economy than us, France not so much.

You’re wrong, all major companies are going to be proxying their EU business through subsidiary companies, of which they’ll be paying tax to them, not us. We had a pretty sweet deal her as our corporation tax was lower than France and Germany etc

I don’t think Austrians do, as they can travel to Germany quite easily and they’re on the borders of it. They also speak German so it makes sense. If they can undercut Germany they’ll be in roughly the same place as they are eventually.

As for Norway, they can rely on lots of natural gas, we sold all of ours off so we can’t rely on staying out like them. They also have cultural significance in hunting of whale - which the EU forbid.

It’s great for who? Most countries on the WTO are quite frankly, awful. We’d just be trading through the WTO with the EU and perhaps Japan, China and America. Who else is there of relevance to us?

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I hope the banking licence doesn’t detract from Revolut’s strengths, and its attractiveness, from my point of view.

Revolut’s core features and strengths, IMO are:

  • Its multi currency wallets, with its interbank exchange rates.

  • The free currency transfers to 3rd parties, and the easy and instant ability to top up by a variety of debit and credit cards.

  • The extreme portability of Revolut from one country to another. I use Revolut extensively within the UK and the euro area, and even further afield. It makes relocation of ex pats within the areas served by Revolut so easy and hassle free.

I say all this because banking licences, especially multiple licences from different regulatory authorities, (Revolut plans a UK licence as well as its current European licence. As well as non European licences) suggest a fragmentation of the product into niche markets. I’d hate there to be a different product offering in the UK from Italy, from the USA, from Australia.

For me, the appeal of Revolut is that it is all encompassing, borderless, and truly portable across regions.



None of these will be impacted don’t worry. Just to mention though - nothing will be changing because of this, that’s why they’re sticking with holding money in Lloyd’s accounts until they can do it themselves.

Might want to remember though it doesn’t make it easy for anyone outside euro zone to expat.

Not sure about other currencies but I wonder if a Dane and a Norwegian could back me up on saying, you can’t pay your bills in non-euro countries.

Certainly can’t do direct debits in GBP. Makes me wonder how Revolut actually plans to capture market share here.

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…ever hear the word “EFTA”? If not - check it out. And compare. (EEC isn’t THAT big of an accomplishment)

And the free-travel thing, Recchan, was also possible before the EU. It’s also possible for Switzerland, and we are NOT part of the EU or the EEC (and we have not much of gas and oil to rely one). As for the “world outside the EU” - yeah. Norway, for example. Switzerland. Lichtenstein; the 20 non-EU-european-countries. Funfact: before CSSR collapsed, they told people “there’s no world without communism and CSSR”. Was there? …ask the people from these countries…

But yeah, back on topic… I’d also like to know if there are now some definitive ETA for long-time ago promised improvements (they’ve been mentioned before already)

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