Printed Statements


#1

Lot of people start to find it impossible to open in UK a regular bank account, apparently the law has been changed at the end of February and now you need to provide some documents such as household bills, local authority bills, or non printed statements… well, Revolut is a brilliant alternative, but obviously at the moment everyone need also a physical bank.

So if Revolut could provide normal statements by post, all those people could open a current bank account, and at the same time could make to revolut as the saviour!

All those people who need to open a bank account first should have a revolut account, and then they will choose any bank. So, for example

10000 peoples has right now this problem, is if Revolut solve this problem… Revolut could have 10000 new customers, but… will be different in the bank market share:

-4000 could goes to barclays
-2000 natwest
-3000 halifax
-1000 Santander…

so the real winner is Revolut… having those total amount of new customers.


#2

Hi, nothing prevents you from dowloading and printing Revolut statements yourself. These will have Revolut logo and your address on them.


#3

The issue here though is you have downloaded and printed the statement yourself, and in the UK many financial institutions won’t accept these and insist on ‘originals’ from the bank.
I think it’s likely to be because of the risk of fraudulent edit of the document.

Granted, it is rare that you need these documents. And I wouldn’t expect Revolut to start posting regular statements to users because of the cost involved in doing so, which would need to be passed back somewhere.

Perhaps for the rare occasions one may need this, it could be one of the chargeable add-ons Revolut could provide.


#4

Nailed it! Nowadays is more and more difficult for new foreigners to open a bank account, as you said is not valid for 90% of the banks because are printed, I’m pretty sure that many of them wouldn’t mind to pay something to have this as a proof of address.