Revolut as an independend Bank... I wonder...

[GunR]

European Banking License … I wonder how Revolut wants to migrate its users with their existing REVOLUT bank accounts lossless and easily from Lloyds to their own banking infrastructure once they hold the license.
Is this possible or do we all get new IBANs & Co?

[alejandro.mery]

they are applying for the european licence in Lithuania, but their IBANs are already virtual. the Lloyds IBAN is for the polled account, not yours.

REVOGB21 from the SEPA account, as the UK sort code, is connected through Prepaid Solutions <prepaysolutions.com>… just like Monese’s
REVOGB2L from the multicurrency unique SWIFT for business accounts a virtual IBAN managed by Saxo <bankingcircle.com/virtual-iban>

It’s pretty common for banks to hold funds on other banks, they won’t need to move the money anywhere… unless they want to.

has been reported to be applying for a US licence too.

British fintech startup Revolut to seek U.S. banking license: CEO

[alejandro.mery]

Judging from what happened at the competition

you lost me there

20

[alejandro.mery]

Judging from what happened at the competition, it is going to slow down the relentless pace of the implementation of new features. Or not?

For long time Monzo had not released any improvements quoting the transition from prepaid to current accounts as the reason for it. At first I was very sceptical of their explanations but once prepaid users were migrated over, they have indeed been very productive.

Not even a mountain will be able to stop @nikolay after getting those banking licences.