People who have no choice or don't know any better.

I hope @mojuba is now aware of this. This is not a good "bank if you have other options. Going back to Monzo would be a better choice.

They have recently become a real bank and converted the customers' accounts to real current ones. They are a UK bank though due to Brexit for EU-based customers they are a Latvian one (I think).

Perhaps it is different for the UK part. According to https://www.fscs.org.uk/check-your-money-is-protected/ Revolut Ltd money is not protected:

> Money at risk

> Reason why

> Revolut Ltd is an e-money institution. FSCS can't provide protection if an e-money institution fails.

Money in Revolut savings accounts ("vaults"?) is apparently protected as that money is held with real banks, not Revolut Ltd.