Revolut has overtaken BNP Paribas.
It would have happened much faster without financial regulation, whose sole purpose is to protect established monopolies.
LinkedIn Sources
- LinkedIn conversation: view the post
- Profile: Pierre Jean Duvivier dit Sage (LinkedIn)
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Frequently Asked Questions
Heres a list of FAQs about Revolut surpassing BNP Paribas
1 What does it mean that Revolut has surpassed BNP Paribas
It means Revolut the UKbased digital bank has grown larger than BNP Paribas by a key measure such as customer numbers or market value making it one of Europes biggest banks
2 What is Revolut
Revolut is a digital banking app founded in the UK in 2015 It offers accounts cards money transfers and investing all managed through a smartphone
3 What is BNP Paribas
BNP Paribas is one of Europes largest traditional banks headquartered in France with a long history and operations in dozens of countries
4 How did a young app beat a 200yearold bank
By growing fast Revolut attracted millions of users with low fees easy signup and features like multicurrency accounts Traditional banks grow more slowly because they rely on branches and legacy systems
5 Does this mean Revolut is now the biggest bank in Europe
Not necessarily Surpassing depends on the measure customers valuation or revenue By some measures Revolut leads by others big traditional banks are still larger
6 Why does this matter to me as a customer
It signals that digital banks are becoming mainstream You may see more features better apps and more competition which usually means better prices and service for customers
7 Is my money safe with Revolut
In many countries yes deposits are protected up to local limits Protection rules vary by country so check yours
8 Is my money safe with BNP Paribas
Yes As a traditional bank its covered by deposit guarantee schemes in the countries where it operates typically up to 100000 in the EU
9 What are the main benefits of digital banks like Revolut
Fast signup low or no fees multicurrency accounts easy budgeting tools and everything managed from your phone
10 What are the downsides
Limited branch access fewer inperson services and sometimes slower support Some features carry risk
