Multi Currency Cards
Asked on 12 Nov 2019
Will currently available features be affected in any way?
I am particularly curious if Chester (Country Manager for Revolut SG) can share whether the following features will be impacted by the banking license being off the table:
Topup/Funding in non-SGD currencies
Virtual bank account details (for both SGD and non-SGD currencies)
The above would be important to get feature parity with something like Transferwise, else Revolut is looking a bit weak (to both TW and Revolut's own offerings for residents in other countries).
(Nonetheless, agree with reasoning for pulling out of the banking license race; when I saw the 1.5bn capital requirement, I was wondering who would want to pursue a license; MAS must have a very specific view of potential future banks of when setting the requirement)
Hey Shanty! Good question. These movements won't affect the services in offer currently in any way. It's business as usual.