Hi @richardb,
Just to clarify, client funds are stored under a segregated account at Lloyd’s or Barclays, depending on the type of account you hold. As an FCA authorised institution, your funds are safeguarded as per FCA requirements, the Electronic Money Regulations 2011 and the Payment Services Regulations 2009. In the event of an insolvency, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.
Of course you could transfer in £1 million pounds to your Revolut account, however, there is a weekly limit of 125K. You can find more info here: https://revolut.com/modulr-account-terms
Regarding the Revolut card, nothing has changed, and it’s still a prepaid card.
Please let me know if you have further enquiry.
Best,
Andreas K.