In today’s top digital-first banking news, British challenger bank Revolut is seeking a U.K. financial services license, while Capital One has agreed to join Fiserv’s surcharge-free MoneyPass ATM network. Plus, the Reserve Bank of New Zealand revealed on Sunday (Jan. 10) that it had been hacked.
Revolut, the British challenger bank, has sent in a banking license application to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Revolut Founder and Chief Executive Nik Storonsky said in an announcement that having a British license for financial services will enable the FinTech to provide banking offerings that “U.K. customers expect from their everyday primary bank account.”
Capital One has signed on to become part of Fiserv’s surcharge-free MoneyPass ATM network. MoneyPass will be available at more than 1,500 ATMs at Capital One branches, Capital One Cafés and other chosen spots. Moreover, Capital One 360 Checking customers will have the ability to use 34,000 MoneyPass ATMs surcharge-free throughout the nation.
Approximately 13 million defunct accounts inadvertently received stimulus check payments by the IRS, which the government body is currently trying to get to the right locations. Those who still haven’t received their stimulus payments are told to watch their bank accounts and mailboxes. The stimulus checks, which will be $600 to qualified adults and children, are part of a broad $900 billion bill that was ratified by Congress in 2020.
The Reserve Bank of New Zealand disclosed on Sunday (Jan. 10) that it had been hacked – and that sensitive individual and business information may have been involved. The hackers breached the security of “a third-party file-sharing service,” according to a news release from the central bank.