Finance

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Let’s compare the three available options:

Forex Card:
Options - Niyo, Thomas Cook, BookMyForex, Forex cards offered by local banks.
Advantages - Convenience, tap-and-pay service, quick account setup (from 5 minutes to 24 hours), minimal documentation required.
Disadvantages - Potential hidden fees (such as markup, transaction, and conversion fees).

UK Bank Account:
Options - HSBC, Barclays, Lloyds, and more.
Advantages - Convenience, tap-and-pay service, no hidden fees.
Disadvantages - Challenging to open on a Visitor Visa.

Digital Bank Account:
Options - Wise, Monzo, Revolut.
Advantages - Convenience, tap-and-pay service, no hidden fees, seamless integration with your phone (enabling tap-and-pay by phone, eliminating the need for a physical card), quick account setup (from 5 minutes to 24 hours), minimal documentation required.
Disadvantages - None.

In summary:
Step 1 - Install a digital bank account app on your phone.
Step 2 - Provide your UK phone number and passport.
Step 3 - Make a one-time money transfer from your home bank account to this account.
Step 4 - Enjoy seamless and fee-free transactions.

Feel free to ask any questions related to this topic by replying below.

4 Likes
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Hello, I am finding it difficult opening a Revolut account. It keeps telling me my Passport can’t not be verified. Do you have any ideas as to how to go about it?

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Kindly read the following article, :bookmark_tabs: which will help you understand why your passport can’t be verified:

https://help.revolut.com/help/profile-and-plan/profile-plan/verifying-identity/im-unable-to-verify-my-identity/

Also, I would suggest making a few attempts, :repeat_one: and if it doesn’t work, you can always consider Wise or Monzo. Both are great options.

Hope you found that helpful.
Ping me, if you need further assistance. :vibration_mode: