I wasn’t correcting you. They are registered in the EU but not in the UK as far as I can tell and these complaints are from people in the UK. Maybe they have been approved but not completed the process yet.
Here is their page on the FCA https://register.fca.org.uk/s/firm?id=001b000002zyAwNAAU and it says under activities and services that they are registered for payment services and e-money but it doesn’t say that they do banking. It also says that they are not covered by the financial services compensation scheme.
But whether they are a bank or not, they definitely failed in their fraud prevention duties when they failed to detect and block 137 transactions to three new contacts in an hour.
I said EU, not UK. But it turns out they ARE licensed in the UK as well.
https://fortune.com/europe/2024/07/25/revolut-secures-long-awaited-banking-license-after-3-yearsa-move-that-will-position-the-firm-to-rival-banking-giants-hsbc-barclays-monzo/
I wasn’t correcting you. They are registered in the EU but not in the UK as far as I can tell and these complaints are from people in the UK. Maybe they have been approved but not completed the process yet.
Here is their page on the FCA https://register.fca.org.uk/s/firm?id=001b000002zyAwNAAU and it says under activities and services that they are registered for payment services and e-money but it doesn’t say that they do banking. It also says that they are not covered by the financial services compensation scheme.
If you look at the page for Barclays Bank (https://register.fca.org.uk/s/firm?id=001b000003WgItdAAF) you can see that it says that they do banking and are covered by the scheme.
But whether they are a bank or not, they definitely failed in their fraud prevention duties when they failed to detect and block 137 transactions to three new contacts in an hour.