UK Banking Licence on its way?

News being reported in a number of places

https://www.altfi.com/article/6274_revolut-reportedly-preparing-uk-banking-licence-application

If so would my money be more secure than it is at present within Revolut?

It’s a different kind of security.

With the current license, R. does not have access to customer’s funds. In case of bankruptcy, those funds aren’t affected. They would be affected if the bank where R. holds those funds in the name of the customers would go bankrupt.

Under a banking license, you’ve got the deposit protection like with any current account, but that’s limited to 80.000 GBP per bank and customer.

Depending on how you look at it, it means more or less security. And crypto isn’t covered at all.

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