Revolut card without the current account

eDicky

adonis10 wrote: »

Well, I personally have had a Revolut card for a few years but do not have a Revolut current account. So, my question should have read 'can one obtain a revolut account and card WITHOUT opening a current account?'

So you already have a Revolut account, whatever you or they prefer to call it. There is only one type (with a premium variant or two), which includes various 'sub-accounts' for each currency. They now have an ECB banking licence so perhaps the term 'current account' could be considered appropriate.

adonis10

eDicky wrote: »

So you already have a Revolut account, whatever you or they prefer to call it. There is only one type (with a premium variant or two), which includes various 'sub-accounts' for each currency. They now have an ECB banking licence so perhaps the term 'current account' could be considered appropriate.

I do indeed, and I prefer to call it a 'Revolut card' because it isn't a current account.


I think what has happened is confusion due to the wording on their website and app. The upshot is, if it is still the same as what I have and there will be no credit check, my friend will be happy.

[Deleted User]

adonis10 wrote: »

Cool, thanks. Agree it looks better cash withdrawal wise but the card will largely be used to pay for goods/services so 200/month in cash is more than enough.


My friend doesn't want to be credit checked (his credit is fine but is planning to get a mortgage this year so does not want to do anything that will be detrimental to it) which is why I advised Revolut.

One credit search and one new open current account won't taint a mortgage application

eDicky

adonis10 wrote: »

My friend doesn't want to be credit checked (his credit is fine but is planning to get a mortgage this year so does not want to do anything that will be detrimental to it) which is why I advised Revolut.

Starling don't do a full credit check if you don't ask for an overdraft, and is probably simpler to use than Revolut for just the purpose of a foreign holiday.

adonis10

eDicky wrote: »

Starling don't do a full credit check if you don't ask for an overdraft, and is probably simpler to use than Revolut for just the purpose of a foreign holiday.

Thanks.


Easier to use? Revolut is the easiest thing money-wise I have ever used. Download app and request card, instantly top up, exchange to required currency and spend as normal. Surely the addition of an actual current account adds complexity (nothing difficult, just unnecessary admin).

eDicky

Here's another one - "Your Digital Current Account", which is definitely prepaid and not a fully licensed bank account:

https://loot.io/

So I guess the term 'current account' is used quite loosely these days. This is also perfect for travel, I've used it for two or three years

adonis10

!!! wrote: »

One credit search and one new open current account won't taint a mortgage application

Fair enough, but that's up to him as apparently he has looked into it and having multiple accounts can impact it. I don't much care as that is none of my business.


In all fairness, he asked for my advice and I said Revolut yet he went off researching Monzo anyway. I don't know why as it still appears that Revolut is what is best for the purpose he requires. I'm spending far too much of my time on this.

eDicky

adonis10 wrote: »

Easier to use? Revolut is the easiest thing money-wise I have ever used. Download app and request card, instantly top up, exchange to required currency and spend as normal. Surely the addition of an actual current account adds complexity (nothing difficult, just unnecessary admin).

Simpler in being GBP only, so easier to use for some probably, if not for you and your friend.

There is no addition of an 'actual current account' with Revolut.

[Deleted User]

adonis10 wrote: »

Fair enough, but that's up to him as apparently he has looked into it and having multiple accounts can impact it. I don't much care as that is none of my business.


In all fairness, he asked for my advice and I said Revolut yet he went off researching Monzo anyway. I don't know why as it still appears that Revolut is what is best for the purpose he requires. I'm spending far too much of my time on this.

Multiple accounts won't impact it.
There's people on here with 10/20/30+ current accounts who get mortgages.

Having (and using) an overdraft on them however is a different matter altogether...

System

Revolut and Starling are different animals.
Starling's USP - unlimited free overseas ATM access isn't sustainable.