If you have an account with Revolut your cash could be at risk

Last year I had my Revolut account frozen with £300,000 in it!!!

No warning.

No resolution.

In this article in the The Guardian (link below) it's being reporting that Revolut won't gain it's banking license which means your deposits are not safe.

Why am I posting this blog?

I see hundreds of businesses through my work at GrowFactor and I've advised all my clients to be aware of the risks with this bank, and to consider other online banks and the protection they provide.

Some are great, and backed by high street banks but you need to know what the risks are.

I did get my money back but only by closing the account, moving back to Barclays UK and having to adjust all the details on every client invoice.

Pain in the a**

https://www.theguardian.com/business/2023/may/19/uk-ministers-revolut-licence-fintech-firm

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