Revolut lets customers switch to Revolut Bank in 10 additional countries

Fintech startup Revolut has its own banking license in the European Union since late 2018. It lets the company offer some additional financial services without partnering with third-party companies. And the company is going to let customers switch to Revolut Bank in 10 additional countries.

The Bank of Lithuania has granted a specialized license — it isn’t a full-fledged license per se, as it focuses on some activities. The company is taking advantage of European passporting rules to operate in other European countries. Right now, Revolut takes advantage of its banking license in two countries — Poland and Lithuania.

In Lithuania for instance, you can apply for a credit card with a credit limit that’s twice the value of your monthly salary (up to €6,000). The company also offers personal loans between €1,000 and €15,000. You can pay back over one to 60 months.

Now, customers in Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Malta, Romania, Slovakia and Slovenia will be able to become Revolut Bank customers. It’s not a transparent process, as you need to get through a few steps to carry your account over.

But once this process is done, your deposits are protected under the deposit guarantee scheme. If Revolut Bank shutters at some point down the road, customers can claim up to €100,000 thanks to the scheme — both euros and foreign currencies are protected.

You can expect new credit products in the 10 new markets. Overall, Revolut has attracted 15 million customers. The company recently announced that it was also applying for a banking license in the U.K., its home country and its biggest market.


Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, legal, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included in each for audience questions and discussion.

( function() {
var func = function() {
var iframe = document.getElementById(‘wpcom-iframe-dde292b93a5f3017145419dd51bb9fce’)
if ( iframe ) {
iframe.onload = function() {
iframe.contentWindow.postMessage( {
‘msg_type’: ‘poll_size’,
‘frame_id’: ‘wpcom-iframe-dde292b93a5f3017145419dd51bb9fce’
}, “https://tcprotectedembed.com” );
}
}

// Autosize iframe
var funcSizeResponse = function( e ) {

var origin = document.createElement( ‘a’ );
origin.href = e.origin;

// Verify message origin
if ( ‘tcprotectedembed.com’ !== origin.host )
return;

// Verify message is in a format we expect
if ( ‘object’ !== typeof e.data || undefined === e.data.msg_type )
return;

switch ( e.data.msg_type ) {
case ‘poll_size:response’:
var iframe = document.getElementById( e.data._request.frame_id );

if ( iframe && ” === iframe.width )
iframe.width = ‘100%’;
if ( iframe && ” === iframe.height )
iframe.height = parseInt( e.data.height );

return;
default:
return;
}
}

if ( ‘function’ === typeof window.addEventListener ) {
window.addEventListener( ‘message’, funcSizeResponse, false );
} else if ( ‘function’ === typeof window.attachEvent ) {
window.attachEvent( ‘onmessage’, funcSizeResponse );
}
}
if (document.readyState === ‘complete’) { func.apply(); /* compat for infinite scroll */ }
else if ( document.addEventListener ) { document.addEventListener( ‘DOMContentLoaded’, func, false ); }
else if ( document.attachEvent ) { document.attachEvent( ‘onreadystatechange’, func ); }
} )();

Responses are currently closed, but you can trackback from your own site.

Comments are closed.