Banks would be interested in buying Revolut for the right price. I think this would happen instead of any failure.
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At the end of the year if all goes well:
The cash-transfer app currently works with banks such as Barclays to hold deposits — an arrangement that means customers are not covered by the Financial Services Compensation Scheme, which protects amounts of up to £85,000. Revolut also relies on a partner, Lending Works, to offer fast credit to customers.
A UK licence would allow Revolut to hold deposits on its own balance sheet and to make direct loans, helping to boost returns.
This same rumour is also doing the rounds about Monzo, clearly someone(s) are spreading malicious rumours because you know, some people are just useless tw***.
I would advise everybody to exercise a little common sense in these situations and always question the source and motive of such rumours.
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I think it’s all down to trust especially in recession not to speak depression. To most people, neo-banks are still considered novel and thus lack of trust. It’s interesting psychology that people won’t trust traditional banks but they are much more likely to be bailed out during recessions than neo-banks because they are considered systematically important and too big to fail.
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Looks like this one can now be put to bed.
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They just launched in the US, I don’t think they are closing down.
There’s a rumour going around that Revolut is looking at doing a share split anyone heard anymore?
Does it matter though? Share splits don’t have any effect, except the denomination changes.
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