BrokAIr Reviews

Revolut Review

"Revolut is one of the most innovative online brokerages out there, but there's no doubt that it falls short when it comes to customer service." Is Revolut sacrificing customer service for innovation?

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Overview of Revolut

About Revolut

Revolut is an online banking and financial services platform that offers stock trading, currency exchange, and other services. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, two former bankers from Credit Suisse and Lehman Brothers. The company is based in London, United Kingdom and has over 13 million customers in more than 30 countries.

Pros

Cons

Public Opinion

Public opinion of Revolut is generally positive. Most reviewers find the company’s services to be reliable and user-friendly. The company has a 4.5/5 rating on Trustpilot from over 5,000 reviews. Many customers appreciate Revolut’s low-cost international money transfers and wide range of services. However, some reviewers have complained about the customer service and the app’s stability.

Newsworthy Events

In 2019, Revolut was granted a European banking license by the European Central Bank (ECB). This allowed the company to expand its services across Europe. Later that year, Revolut received a warning from the UK's Financial Conduct Authority (FCA) for failing to report suspicious transactions. In 2020, the FCA fined Revolut £8.55 million for failing to properly protect customer funds and for not filing suspicious transaction reports promptly. In 2021, Revolut launched its first mutual funds service in partnership with Vanguard Group.