Revolut to offer local banking details worldwide within 3 to 6 years

[JimmyWho]

https://blog.revolut.com/lets-revolutionise-global-payments-together/

We went from learning about the global banking system from scratch to having local accounts in over 20 countries and our own SWIFT infrastructure for international payments, all in under 3 years. And today, four million people have opened a Revolut account. But we're not done yet.

In the next three years, we aim to have local accounts in every major country across the globe. This includes the US, Canada, Brazil, Australia, New Zealand, Singapore, Hong Kong, Japan, Russia, Hungary, Romania, Czech Republic, Sweden, Bulgaria, Denmark and Croatia. And hey, if your country isn’t on this list, don’t sweat it — we’ll be with you soon.

In the next six years, we’re shooting for the near-impossible: the ability for every Revolut user to transfer money anywhere in the world, from anywhere in the world, instantly, and 100% free.

 

[lookingforward]

I am actually sad that i didnt start revolut account earlier, they have very good app, for freelance i can just give a payment link to my client e.t.c

 

[Martin Everson]

There is just one problem and that is Revolut is Russian entity controlled by the son of a Russian Oligarch with tight connection to Putin. I have a revolut account but the political risk is too high to keep money in any Russian controlled entity where development is shifting to Russia....be warned. UK wouldn't give them a banking license and they are based in UK so they got a Lithuanian one...what does that tell you .

http://www.marchmontnews.com/Financ...t-up-UK-raises-funds-and-plans-expansion.html

 

[lookingforward]

There is just one problem and that is Revolut is Russian entity controlled by the son of a Russian Oligarch with tight connection to Putin. I have a revolut account but the political risk is too high to keep money in any Russian controlled entity where development is shifting to Russia....be warned. UK wouldn't give them a banking license and they are based in UK so they got a Lithuanian one...what does that tell you .

http://www.marchmontnews.com/Financ...t-up-UK-raises-funds-and-plans-expansion.html

Well, right now its not 100% safe to keep money everywhere. I am from Latvia by myself, we had problems with almost every bank we had there, people lost tonns of money, now i moved to Malta and its going crazy here (Satabank e.t.c). You never know.

 

[Andrew Gooden]

https://blog.revolut.com/lets-revolutionise-global-payments-together/

Thank you for this great information. Cheers!

 

[Andrew Gooden]

There is just one problem and that is Revolut is Russian entity controlled by the son of a Russian Oligarch with tight connection to Putin. I have a revolut account but the political risk is too high to keep money in any Russian controlled entity where development is shifting to Russia....be warned. UK wouldn't give them a banking license and they are based in UK so they got a Lithuanian one...what does that tell you .

http://www.marchmontnews.com/Financ...t-up-UK-raises-funds-and-plans-expansion.html

Martin, I did not know that Revolut was Russian owned. Thank you for your information and it shall be taken in consideration. Cheers!

 

[JimmyWho]

Russian, Chinese, Korean, whoever does it first will lead a banking revolution. Don't like revolut? Someone else will copy them within a few years.

 

[Martin Everson]

It gets worse for Revolut. How is it possible in 2019 to get a banking license in Lithuania an (EU member state) and them immediately after the granting of the license it is put under review . They consider the size of Revolut and connections to Russia a national threat to their security....well no sh*t Sherlock . Chances are their new banking license may be revoked. If that happens no other EU member state will grant them one, because if a country like Lithuania revokes your license then.......

https://www.fnlondon.com/articles/revolut-to-face-third-government-review-in-lithuania-20190412
Also why should the backdoor engineering.....sorry I meant backend development, fraud detection and payment processing for Revolut platform soon be done in Moscow? ....and EU is busy worrying about Hauwei and 5g backdoors....lol.

https://www.revolut.com/careers/loc...eveloper-ba40bf33-dcb3-4d51-86d7-e87810f50996

 

[JimmyWho]

Is there a payment processor that provides local banking details worldwide?

 

[Andrew Gooden]

It gets worse for Revolut. How is it possible in 2019 to get a banking license in Lithuania an (EU member state) and them immediately after the granting of the license it is put under review . They consider the size of Revolut and connections to Russia a national threat to their security....well no sh*t Sherlock . Chances are their new banking license may be revoked. If that happens no other EU member state will grant them one, because if a country like Lithuania revokes your license then.......

https://www.fnlondon.com/articles/revolut-to-face-third-government-review-in-lithuania-20190412
Also why should the backdoor engineering.....sorry I meant backend development, fraud detection and payment processing for Revolut platform soon be done in Moscow? ....and EU is busy worrying about Hauwei and 5g backdoors....lol.

https://www.revolut.com/careers/loc...eveloper-ba40bf33-dcb3-4d51-86d7-e87810f50996

You have good source of information at your finger tips. Greet information, thank you for the education Martin.

 

[JimmyWho]

They are also hiring backend engineers in London. Careers | Revolut

 

[lookingforward]

They are also hiring backend engineers in London. Careers | Revolut

And 50 other roles.

 

[Martin Everson]

They hired an external PR firm. So we can expect soon lots of positive news and spin. The best PR they can do however is for the son of the Russian Oligarch to resign and for Revolut to distance themselves from everything Russian including closing office there. This story is not gonna end well it never does.

https://www.prolificlondon.co.uk/ma...pr-crisis-experts-and-seeks-defamation-lawyer

 

[Andrew Gooden]

They hired an external PR firm. So we can expect soon lots of positive news and spin. The best PR they can do however is for the son of the Russian Oligarch to resign and for Revolut to distance themselves from everything Russian including closing office there. This story is not gonna end well it never does.

https://www.prolificlondon.co.uk/ma...pr-crisis-experts-and-seeks-defamation-lawyer

Greeting Martin Everson, you could be correct about the story not ending well, then again we may be in for a surprise. I am one of those who is hoping that it will end on a positive note as Revolut new business proceedure can be of excellent use to many of us.

 

[Martin Everson]

I am a long term Revolut user also . However, never ever show loyalty to any EMI or bank. An EMI will show you no loyalty whatsoever and will close your account in 5 minutes whether you have had the account for a day or for 20 years because of a single unproven suspicious transaction and with no way of fighting the decision. Chances are Revolut is nothing more than a Satabank in London. I suppose they plan to make Russia a market for their service by operating there. Good luck with that, because if the US finds a smoking gun then with a single stroke of the pen the US will close down their entire business in 24hrs. Correspondence banks will run away and ECB will revoke their Lithuanian banking license the same day. It's sad but Russian involvement in any money business is a recipe for a disaster...be warned. I have been through it with FBME, BPA, Satabank etc etc etc all Russian involvement in money laundering. The US took action and those banks are all dead.

p.s yes US was behind pushing Malta to end Satabank .

 

[Mark Rucken]

Revolut is currently one of the best options in the business, highly recommended by me. From my past experience, nothing lasts forever, but feel free to milk it while it is working.

 

[JimmyWho]

Best to look at these things as payment processors and not banks.

 

[Andrew Gooden]

I am a long term Revolut user also . However, never ever show loyalty to any EMI or bank. An EMI will show you no loyalty whatsoever and will close your account in 5 minutes whether you have had the account for a day or for 20 years because of a single unproven suspicious transaction and with no way of fighting the decision. Chances are Revolut is nothing more than a Satabank in London. I suppose they plan to make Russia a market for their service by operating there. Good luck with that, because if the US finds a smoking gun then with a single stroke of the pen the US will close down their entire business in 24hrs. Correspondence banks will run away and ECB will revoke their Lithuanian banking license the same day. It's sad but Russian involvement in any money business is a recipe for a disaster...be warned. I have been through it with FBME, BPA, Satabank etc etc etc all Russian involvement in money laundering. The US took action and those banks are all dead.

p.s yes US was behind pushing Malta to end Satabank .

Your reasoning is very sound and your words give one much to ponder. The link to Russia is simply a bad joke for any financial enterprise.

 

[yngmind]

I am a long term Revolut user also . However, never ever show loyalty to any EMI or bank. An EMI will show you no loyalty whatsoever and will close your account in 5 minutes whether you have had the account for a day or for 20 years because of a single unproven suspicious transaction and with no way of fighting the decision. Chances are Revolut is nothing more than a Satabank in London. I suppose they plan to make Russia a market for their service by operating there. Good luck with that, because if the US finds a smoking gun then with a single stroke of the pen the US will close down their entire business in 24hrs. Correspondence banks will run away and ECB will revoke their Lithuanian banking license the same day. It's sad but Russian involvement in any money business is a recipe for a disaster...be warned. I have been through it with FBME, BPA, Satabank etc etc etc all Russian involvement in money laundering. The US took action and those banks are all dead.

p.s yes US was behind pushing Malta to end Satabank .

Russians make the best apps and all digital products, look at British Barclays, that's a piece of s**t, if Russian formed a company it doesn't mean it will be fraud company, you have stereotypes in your head. Revolut is the great product and as I know all British banks give you protection for like 80k pounds, so I wouldn't be worried about that if you think Russsian owner makes bank sketchy, that's your own problem.

 

[Martin Everson]

Russians make the best apps and all digital products

Yes Russia has very good developers

if Russian formed a company it doesn't mean it will be fraud company, you have stereotypes in your head.

We are talking Russian finance companies here not Russian emoji developers or Russian software companies with apps on google appstore....lol. None of the EMI's or banks outside Russia controlled by Russians along its border are 100% legit. Every single Eastern european banks in Latvia to Estonia that has had problem is because of Russian money laundering from ABLV (dead now) in Latvia to Danske bank in Estonia etc etc etc. You can't make it up.

Revolut is the great product and as I know all British banks give you protection for like 80k pounds, so I wouldn't be worried about that if you think Russsian owner makes bank sketchy, that's your own problem.

Revolut is not a bank in UK its an EMI. The £85k UK deposit protection applies to banks which Revoult is not. If Revolut went under you would be relying only on client assets being properly segregated to get your money back.