Since 2019 we've insisted that WRPs be signed up to the Authorised Push Payment Scam Code to protect victims of fraud. While e-money firms must still ringfence your funds in a segregated account, to protect it in cases of insolvency, we can only recommend the more robust, independent FSCS safety net. Instead, it operates under an e-money licence in the UK, so you aren't covered under the Financial Services Compensation Scheme (FSCS). Revolut doesn't have a banking licence in the UK. We don't just pick Which? Recommended Providers (WRPs) on the basis of their customer score.
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