If you order it today I’d expect it between the 6th and 11th. As for losing money, they dont have a banking licence yet (which would come with the standard £85k protection scheme) but for daily activities they should be fine. I’d be still a bit wary to keep seriously large amounts but even that should change with a banking licence.
I’m travelling on the 9th so it’s a bit tight getting the card.
The concerns I’d have would be topping up via bank transfer takes a few days which is a pain, but probably the safest option. Ie, top up then withdraw not leaving an excess in account.
The 9th might be a bit tight. You could order it via express delivery (then it should arrive end next week, latest beginning of April, if ordered today) but that would cost additionally.
As for how safe it is, for daily use it is just fine. I would not just keep “millions” there yet
Depending on where you are it can cost between 12 and 30 euro
As for the banking licence, nobody know - well Revolut might have some estimates - but I wouldnt expect anything before the third quarter, maybe even later. It is however not that there is no “consumer protection” at all. The money is with Lloyds and Revolut does not have a British e-money licence. Thats still not a proper banking licence though and hence I would be wary to keep substantial amounts with them at this point.
You have a point … business idea for Revolut, option to buy gold and have it physically shipped to your address (I guess I trust a random forest more than a bank’s vault these days )
Though even if you own it it can quickly “change” owner when shit hits the fan. Own and hide it … only thing is, paying at the supermarket becomes a tad tricky
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, Revolut safeguards your funds as per FCA requirements, the Electronic Money Regulations 2011, and the Payment Services Regulations 2017. In the event of an insolvency of Lloyd’s or Barclays, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.
All your card transactions are processed by the Mastercard or Visa network and are protected by Mastercard or Visa rules.
We’ve recently applied for a banking licence. The licence is applied through a single European country via European Central Bank and it can then be passported across Europe. More info here: http://bit.ly/2hN8fyF
Standard delivery can take up to 9 working days, express delivery can take 1-3 working days.