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Revolut lets customers switch to Revolut Bank in 10 additional countries – TechCrunch

Fintech startup Revolut Since late 2018, we have obtained our own banking license in the European Union. This allows you to provide additional financial services without having to partner with a third party company. The company also plans to allow customers to switch to Revolut Bank in 10 more countries.

The Bank of Lithuania has granted a special license — it is not a full-fledged license as it focuses on several activities in itself.The company is leveraging Europe Passport rules Active in other European countries. Currently, Revolut has banking licenses in two countries, Poland and Lithuania.

In Lithuania, for example, you can apply credit card There is a credit limit (up to € 6,000) that is twice your monthly salary.The company also offers Personal loan Between € 1,000 and € 15,000. You can repay over 1 to 60 months.

Customers in Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Malta, Romania, Slovakia and Slovenia can now become Revolut Bank customers. This is not a transparent process as you will have to take some steps to take over your account.

However, once this process is complete, the deposit will be protected under a deposit guarantee scheme. If Revolut Bank closes in the future, this scheme will allow customers to charge up to € 100,000. Both the euro and foreign currencies are protected.

You can expect new credit products in 10 new markets. Overall, Revolut has attracted 15 million customers.The company recently said that too Applying for a bank license In the UK, its home country, and its largest market.

Revolut lets customers switch to Revolut Bank in 10 additional countries – TechCrunch Source link Revolut lets customers switch to Revolut Bank in 10 additional countries – TechCrunch

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