Revolut is encouraging it, but a digital asset is a better purchase.
We got an email this week from Revolut, the newer deposit-taking neobank operating in Australia, and it’s worth talking about, not because it’s unusual, but because it’s a textbook example of a marketing message that sounds harmless and is actually a pretty terrible financial idea for most people.
The pitch was simple: apply for a personal loan of up to $50,000, comparison rates from 6.99%, terms of 1 to 7 years, approved and deposited into your account “instantly.”
