Alternative FX and money transfer service? Fed up with Revolut
Sep 17, 2020, 10:36 pm
#31
Join Date: Sep 2012
Location: NW London and NW Sydney
Programs: BA Diamond, Hilton Bronze, A3 Diamond, IHG *G
Posts: 6,347
It's not a bank in the UK, though I believe it has a Lithuanian banking licence. It aims to become a bank.
I like the idea of the currency conversion in Revolut but the execution is crap, and I suppose they are never going to make money on it. These days they seem to be more focused on their "crypto" and "trading" offerings, but it is not a genuine trading platform as all you do is suggest a trade to Revolut which they do themselves and then give you a proportion of the gain or charge you the loss.
I like the idea of the currency conversion in Revolut but the execution is crap, and I suppose they are never going to make money on it. These days they seem to be more focused on their "crypto" and "trading" offerings, but it is not a genuine trading platform as all you do is suggest a trade to Revolut which they do themselves and then give you a proportion of the gain or charge you the loss.
