Online banking platform Revolut says it will start gradually onboarding 20,000 Australians who signed up to a waiting list.
Revolut says it will start gradually onboarding 20,000 Australians who signed up to a waiting list.
It's one of a breed of new app-based banking challengers that are trying to compete with established players.Fintech start-up Revolut launched its app in Australia on Thursday, marking its first expansion outside of Europe. Revolut has grown rapidly since it was founded in 2015, racking up more than five million customers in total. By contrast, German rival N26The digital bank gained popularity for its foreign exchange service which offers the real exchange rate, and has added more features to its platform in recent years, including business accounts and cryptocurrency trading.
"Sending money between the U.K., Europe and Australia has traditionally been costly and time-consuming, with transfers taking up to three business days to arrive," Mahon-Heap said in a statement Thursday.
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