The business is regulated by the FCA and client funds are stored under a segregated account at Lloyd’s or Barclays. Revolut adopts Elliptic's Crypto Compliance Software and Broadens its Cryptocurrency Offering May 18, 2021 Hubbis Revolut, the fast growing FinTech with more than 15 million customers, has announced that they have integrated with Elliptic, the global leader in cryptoasset risk management and blockchain analytics. Revolut Trading Ltd is a wholly owned subsidiary of Revolut Ltd. 832790). 574048). Revolut Trading Ltd is an appointed representative of Sapia Partners LLP (No 550103) which is authorised and regulated by the Financial Conduct Authority. Revolut dubs itself as a financial super app. As an FCA authorised institution, Revolut safeguards funds as per FCA requirements, the Electronic Money Regulations 2011, and the Payment Services Regulations 2017. Each prospective customer has to go through a Know Your Customer (KYC) process by submitting a government-issued photo ID and a facial picture of themselves to our partner, Veritas. Revolut segregates client funds so that in the event of insolvency, clients will be able to claim funds back, and client funds will not be treated as Revolut assets. This organization is dedicated to ensuring that the company is financially in order and control its movements. A BBC investigation has discovered that a Revolut employee made a complaint to the FCA in 2016, asking it to investigate the compliance of Revolut and the conduct of … The company is licensed as an institution that deals in electronic money and has to hold all client funds in a “segregated account”. Revolut is a company regulated by the FCA (Financial Conduct Authority). On the other hand, the application is entirely safe to use. After you create an account, you get an e-wallet and a debit card. Trading and investment services are provided by Revolut Trading Ltd (No. Revolut is an Appointed Representative of Resolution Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority ("FCA") (reference no. As Revolut is an Appointed Representative, Resolution Compliance Ltd remains responsible for the regulated activities (including the receipt and transmission of Orders) of Revolut. Revolut Ltd., the fast-growing financial technology startup, is facing regulatory scrutiny following an alleged compliance lapse that could have allowed illegal transactions on … Its objective is to protect the rights of consumers. This means that users’ money is kept separate from Revolut’s finances and that Revolut cannot invest it. Revolut is regulated in the UK by the Financial Conduct Authority (FCA) and client funds are safeguarded at Barclays/Lloyds. Hometask As a financial institution regulated by the FCA, Revolut has the obligation to verify the identity of all customers who want to open a Revolut account. ". I was a bit panicked so I researched a bit on the Web and I found on Revolut website that it is regulated by the FCA and it says that " As of 1 January 2021, This regulation will at least be equal to the strict requirements under EU regulation. Despite not being a bank yet, Revolut is regulated by the FCA.
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