I forget to mention Revolut’s Savings Vaults! Which are FSCS protected (for paid subscribers) because deposits are put straight into Paragon Bank. Does that change anyone’s mind on banking with Revolut?
In past 3-4 months I have bought about 40-50 k Crypto with my Revolut account and I had no problem with the app. I doubt if it is good idea to trasfer bigger ammount of money to Revolut as my main bank account. I mean bigger amount like 400-500 k. I live in Sweden btw... the banks are awful in Sweden.
You are right - the banks in Sweden are awful… arrogant, sleeping and not there to add value to their retail customers:-( I’m w you, will also try this out, hopefully it’s credible…
Is it advisable to open my kids a revolut account .They are 16 yrs old and I dont want them to carry their bank cards if in case they misplace or loss it.
That's a tricky age. Revolut is 18+ for its regular accounts, and 'Revolut Junior' probably isn't right as as that has to be tied to an adult's account. Starling has a dedicated Teen Bank Account for 16-17 year olds, I'd suggest having a look at that? > www.starlingbank.com/current-account/bank-account-for-teenagers/
If Revolute keep your money in a bank, why not just keep your money in Barclays, Lloyds or a registered bank yourself. What is the advantage in depositing with Revolute in the first place?
Hi Oliver I loved your video on Revolut-- question for you-- we are a Canadian company that is trying to find European banking for our sales to European customers and we need whatever bank we end up going with to work with Shopify which insists that whatever bank we use has a bricks and mortar footing. Does Revolut offer this and if not what other fintech banks do this and do you provide consulting services in this area? We launch in Europe July 15, 2021 Barry Samson
Great question Barry and, full disclosure, I’m not a consultant and you should definitely seek advice from Shopify to ensure your payouts are successful. Ideally you want to pick a bank with a physical office/address in the market you’re operating in. N26 might be a better option given Revolut’s strange banking licence situation… but it’s worth asking Shopify if they can recommend a European (digital) bank. Good luck with the launch! 🚀
Hi Oliver, nice video, do you think we should be worried about account closures on revolut , I mean other fintech banks are doing that as well, except starling , what's your take on this issue
hey Oliver! can you help me out here? Im planning to study abroad in UK for a while, and i still dont know really what apps or services do i need to prepare. Can a Revolut account receive money from banks in different currency (Indonesian Rupiah, in my case) and then exchange it to GBP in the app? thanks!
Hi Oliver, is there a way to spend money for ex. withdraw on ATM or pay with Apple Pay/GPay or pay with your physical card contactlessly but from a specific currency account. Let say I would like to pay in the store/restaurant with Apple Pay but using the money only from my Euro or UK-Pounds account currency. Is there an option to select which account currency you want to pay before you do it? Thanks.
You keep looking at the wrong camera, so you are filming the side of your face as you look and talk away from the camera. It would help if you corrected this before uploading.
Hi. I'm newcomers on your page, I don't understand anything about Revolut.My husband requested me look for Revelut, I did as he said, I gave him my address, I'm not have an ID card, because the goverment, hasn't given me a new ID card yet, So how can i receive my husband's money sent to me, and do i pay any fee to receive my husband's money sent to me?
Hi Oliver. Only just discovered you. Couple of quick corrections. Firstly we do not have fractional reserve banking in the uk. Banks can lend as much as they like they do not need deposits to bank loans. As each loan becomes an asset in the banks balance sheet. Secondly it is July 2023 and Revolution still don’t have banking licence of course you couldn’t know this in 2021 when you created this video, but it highlights how concerned the regulators are about this liquorice allsorts company
Hey Jakob, a lot has changed since I made this video, in particular Revolut now operates as a bank in 28 countries, including Portugal! So if you’re a new customer (or an existing customer who has upgraded their account to Revolut Bank) it’s likely your deposits are held directly by Revolut now. Hope that helps!
no usen revolut ya llevo 1 año con ellos y por primera vez en junio 2021 tengo un problema con revolut, ya llevo 2 meses reclamando £200 que me descontaron de mi account que núnca recibi luego de meter la tarjeta en un cajero el cual se quedó trabado y no saco dibero. en fin he hecho todo lo que me han pedido para demostrar que no recibi el dinero y hasta ahora no se hacen responsable en resolver nada 😭 necesito ayudaaaa.. y lo peor es que no hay oficinas donde ir o sea todo mi dinero on line dios no es una buena idea los bancos on line. todo lo on line es inexistente a la hora de responsabilidad. 😭
CAN I SUE REVOLUT PLEASE? I JUST SAW THAT MY AMOUNT OF MONEY IN MY STOCK HAS REDUCED BY $900. If you do calculations, it’s a mistake from them because the percentages do not tally. I don’t know why? I want to consult a lawyer and take them on. Okay what’s your advice please?
Can't do anything about it as it states its a rough estimate on the scale not 100% accurate. Terms of service states they're not accountable as its a third party who run it and they just promote it on their platform.
To answer some of the questions I’ve opened a Revolut account but not yet switched to it being a bank account, mainly because I didn’t understand the issue. I have “proper” bank accounts elsewhere but the flexibility of Revolut is attractive. I’ve even bought shares and crypto through Revolut. Not holding a huge amount of money there yet. Plan to take it slowly and see how it evolves. It does appear to be a promising alternative to traditional high street banks.
@@ljayhvhjones7289 ok as an update I’ve switched to a full on bank account and upgraded it to the middle level (can’t remember The name). I pay about 6 euros a month for the service. I get 5 free trades on stocks and pay 1.5% on crypto transactions. That’s not cheap but there are no transfer costs as the money goes straight into my bank account. Overall I’m very satisfied with the whole service.
it appears banks are going down at the mo, barclays hsbc, and i think natwest, it was said, i wonder if this revolut bank is safer than the normal banks or not?
Few questions here. Can you connect revolut card with Paypal and pay with PayPal if some store doesn’t accept revolut? Secondly, what about the taxes? From what I’ve seen you can pay or get paid with basically no commission
@@antonioskarakechagias3920 Not tried connecting to Paypal but I imagine you can. I tend to pay with Google Pay which is connected to my card. That works in places where they "dont accept" Revolut, so its never been an issue for me. I don't understand the taxes question - if you are getting paid into Revolut you will have done KYC and the authorities will be able to track your income if they investigate you. Commissions are minimal to non existent.
I forget to mention Revolut’s Savings Vaults! Which are FSCS protected (for paid subscribers) because deposits are put straight into Paragon Bank. Does that change anyone’s mind on banking with Revolut?
How you know that vault is in paragon bank account?
What do you mean by that?
Helpful video, thank you.
Paragon Bank? Never heard of it!
Anyone else having the thought you were listening to Mark Zuckerberg 😄
Haha, I'm not doing myself any favours with that hoodie! 😂
Zuckerberg with bri'ish accent 😃
Absolutely
Could we get a update on revolut m8, you should get back making videos. @@o1iversmith
i love ur voice so smooth bro, u sound like the guy who does tv ads ahaha
Underrated video. Excellent video. Thank you.
Thanks for this information!
Glad it was helpful!
If i have money in Revolut and from there i will transfer to my bank i need pay a deposit to transfer to bank?? Need know this
Is Revolut Crypto decentralised?
Revolut rocks .....
Hi,, I want to know is revoult account statement is valid or acceptable for applying visa application for any country??
Please answer if anyone know
No
In past 3-4 months I have bought about 40-50 k Crypto with my Revolut account and I had no problem with the app. I doubt if it is good idea to trasfer bigger ammount of money to Revolut as my main bank account. I mean bigger amount like 400-500 k. I live in Sweden btw... the banks are awful in Sweden.
You are right - the banks in Sweden are awful… arrogant, sleeping and not there to add value to their retail customers:-(
I’m w you, will also try this out, hopefully it’s credible…
Is it advisable to open my kids a revolut account .They are 16 yrs old and I dont want them to carry their bank cards if in case they misplace or loss it.
That's a tricky age. Revolut is 18+ for its regular accounts, and 'Revolut Junior' probably isn't right as as that has to be tied to an adult's account. Starling has a dedicated Teen Bank Account for 16-17 year olds, I'd suggest having a look at that? > www.starlingbank.com/current-account/bank-account-for-teenagers/
If Revolute keep your money in a bank, why not just keep your money in Barclays, Lloyds or a registered bank yourself. What is the advantage in depositing with Revolute in the first place?
Revolut is awesome and has a wide variety of assets. I only use it to buy OGN.
Clear and Articulate! Fantastic Job Mr. Smith
Actually i like revolut but its not a bank. Other banks not accept their account statement.
This probably needs some updates, it also has a bank license in Spain too (with spanish IBANs)
I live in Australia and have rental property in Italy, can the tenants pay through revolut in euro?
I receive my monthly salary now on iban. If the transfer is not made to Revolut Bank, I will not receive anything, thank you
It depends on what you need it for, I needed a crypto-friendly account, and this is one of the ones I'll be using.
I have banked with Revolut for years and get my wage put in to the account with no problems.
What kind of job do you have
what about the taxes? Do you manage to avoid them?
@@antonioskarakechagias3920 taxes are sorted by hmrc and deductible before final figure is put into your bank account
Hi Oliver
I loved your video on Revolut-- question for you-- we are a Canadian company that is trying to find European banking for our sales to European customers and we need whatever bank we end up going with to work with Shopify which insists that whatever bank we use has a bricks and mortar footing. Does Revolut offer this and if not what other fintech banks do this and do you provide consulting services in this area? We launch in Europe July 15, 2021
Barry Samson
Great question Barry and, full disclosure, I’m not a consultant and you should definitely seek advice from Shopify to ensure your payouts are successful. Ideally you want to pick a bank with a physical office/address in the market you’re operating in. N26 might be a better option given Revolut’s strange banking licence situation… but it’s worth asking Shopify if they can recommend a European (digital) bank. Good luck with the launch! 🚀
@@o1iversmith revolut is a real bank in many european countries but not in the uk
Yea, when this video was made Revolut only operated as a bank in 12 countries, that number has since grown to 28 countries!
@@o1iversmith oh ok!
Came here for Revolut, got ASMR instead
So if I’m already with Barclays, what’s the point of revolut?
Hi Oliver, nice video, do you think we should be worried about account closures on revolut , I mean other fintech banks are doing that as well, except starling , what's your take on this issue
Can i use Revolut in Nigeria?
Does the premium account send and receive without limits and any amount and without taxes???
hey Oliver!
can you help me out here? Im planning to study abroad in UK for a while, and i still dont know really what apps or services do i need to prepare. Can a Revolut account receive money from banks in different currency (Indonesian Rupiah, in my case) and then exchange it to GBP in the app? thanks!
Hi Zuckerberg
Hi Oliver, is there a way to spend money for ex. withdraw on ATM or pay with Apple Pay/GPay or pay with your physical card contactlessly but from a specific currency account. Let say I would like to pay in the store/restaurant with Apple Pay but using the money only from my Euro or UK-Pounds account currency. Is there an option to select which account currency you want to pay before you do it? Thanks.
Thanks for nice Video
So well explained! New subscriber here
Thanks Joninhas, welcome to the channel!
You keep looking at the wrong camera, so you are filming the side of your face as you look and talk away from the camera.
It would help if you corrected this before uploading.
Brilliant analysis
Revolute, you can't use a non debit card for transactions.
Revolut 🎉🎉
So clear and focused Oliver ! Many thanks. U have a new subscriber !
Thanks Rodolfo, welcome aboard!
Hi. I'm newcomers on your page, I don't understand anything about Revolut.My husband requested me look for Revelut, I did as he said, I gave him my address, I'm not have an ID card, because the goverment, hasn't given me a new ID card yet, So how can i receive my husband's money sent to me, and do i pay any fee to receive my husband's money sent to me?
Hi Oliver. Only just discovered you. Couple of quick corrections. Firstly we do not have fractional reserve banking in the uk. Banks can lend as much as they like they do not need deposits to bank loans. As each loan becomes an asset in the banks balance sheet. Secondly it is July 2023 and Revolution still don’t have banking licence of course you couldn’t know this in 2021 when you created this video, but it highlights how concerned the regulators are about this liquorice allsorts company
Oliver, if I deposit money into Revolut in Portugal (I live here), which old school/brick and mortar bank is backing it up?
Hey Jakob, a lot has changed since I made this video, in particular Revolut now operates as a bank in 28 countries, including Portugal! So if you’re a new customer (or an existing customer who has upgraded their account to Revolut Bank) it’s likely your deposits are held directly by Revolut now. Hope that helps!
@@o1iversmith so helpful, thank you!
@@o1iversmith I receive my monthly salary now on iban. If the transfer is not made to Revolut Bank, I will not receive anything, thank you
Thank you thank you thank you.
Hi there, I am trying to move money from Revolut to my Cryptopay but am having difficulty. I'm in need of help
Its asking me to switch, but should I do it? Is there any downside?
Your voice😍
Bro, you can make a verified account so that I can send money to my family The problem is that it is not supported in the country in which I live
Can I use revolut statement for UK visit visa
I love using Revolut from Denmark 🇩🇰
Aren’t they operating in Sweden as a bank now?
no usen revolut ya llevo 1 año con ellos y por primera vez en junio 2021 tengo un problema con revolut, ya llevo 2 meses reclamando £200 que me descontaron de mi account que núnca recibi luego de meter la tarjeta en un cajero el cual se quedó trabado y no saco dibero. en fin he hecho todo lo que me han pedido para demostrar que no recibi el dinero y hasta ahora no se hacen responsable en resolver nada 😭 necesito ayudaaaa.. y lo peor es que no hay oficinas donde ir o sea todo mi dinero on line dios no es una buena idea los bancos on line. todo lo on line es inexistente a la hora de responsabilidad. 😭
If you are Bulgarian citizen and receive your salary with Revolut from UK how is the situation with taxes?
The same as you received in IBAN cash or in 🍎 … just report tax to Bulgarian Tax Administration
I use revolut because it offer high interest in vault, and more cash back options using its card, but do not put large amount of money there
Hi how much money you can put there and why not a large amount
Thanks a lot for the video
Your voice is worth monies…
When is new video?
Thankyou
Thank you Mark !
خير كي مسيت
Revolut are letting me know if I don’t join the bank, I can’t have Revolut. I only use it to pay individuals so see no point.
I receive my monthly salary now on iban. If the transfer is not made to Revolut Bank, I will not receive anything, thank you
Is it mandatory to change now?
🎉Good video 🎉
very useful and insightful
Thank you so much ! Very useful video. I'm from Bulgaria , actually already made the switch. I like Revolut because it's getting better and better.
why do you pay for a bank account?
Great video!
Thanks! :)
So in short...it is bank but not a bank until it becomes a full bank in the UK
You got it!
@@o1iversmith Great. Quick question. Do they have a physical card that you can hold or only a digital one?
@@kessyokonkwo9337 yep, they have physical cards in all different styles and designs (I’ve made videos taking a look at some of them)
great, thank you
CAN I SUE REVOLUT PLEASE? I JUST SAW THAT MY AMOUNT OF MONEY IN MY STOCK HAS REDUCED BY $900. If you do calculations, it’s a mistake from them because the percentages do not tally. I don’t know why? I want to consult a lawyer and take them on. Okay what’s your advice please?
Can't do anything about it as it states its a rough estimate on the scale not 100% accurate. Terms of service states they're not accountable as its a third party who run it and they just promote it on their platform.
To answer some of the questions I’ve opened a Revolut account but not yet switched to it being a bank account, mainly because I didn’t understand the issue. I have “proper” bank accounts elsewhere but the flexibility of Revolut is attractive. I’ve even bought shares and crypto through Revolut. Not holding a huge amount of money there yet. Plan to take it slowly and see how it evolves. It does appear to be a promising alternative to traditional high street banks.
how much do you pay?
@@ljayhvhjones7289 ok as an update I’ve switched to a full on bank account and upgraded it to the middle level (can’t remember The name). I pay about 6 euros a month for the service. I get 5 free trades on stocks and pay 1.5% on crypto transactions. That’s not cheap but there are no transfer costs as the money goes straight into my bank account. Overall I’m very satisfied with the whole service.
it appears banks are going down at the mo, barclays hsbc, and i think natwest, it was said, i wonder if this revolut bank is safer than the normal banks or not?
Few questions here. Can you connect revolut card with Paypal and pay with PayPal if some store doesn’t accept revolut? Secondly, what about the taxes? From what I’ve seen you can pay or get paid with basically no commission
@@antonioskarakechagias3920 Not tried connecting to Paypal but I imagine you can. I tend to pay with Google Pay which is connected to my card. That works in places where they "dont accept" Revolut, so its never been an issue for me. I don't understand the taxes question - if you are getting paid into Revolut you will have done KYC and the authorities will be able to track your income if they investigate you. Commissions are minimal to non existent.