The fintech startup is currently applying for a banking license and announced that it has already been adding everything customers need in order to replace their bank account with a Revolut one.
The company started with an e-wallet in multiple currencies combined with a Mastercard enabling users to upload money to their Revolut account in their local currency and then send and spend money in multiple currencies.
So far, Revolut users have been limited to card payments; now, customers can hand their banking details to any subscription service in EUR so that they can debit Revolut accounts directly.
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