Revolut is now authorised with restrictions as a UK Bank

We're becoming a bank, but for now, nothing changes with customer accounts

Here at Revolut, we’ve been working hard to deliver faster, better, smarter products, serving over 45 million customers worldwide, and 9+ million customers in the UK alone. We've now been authorised as a UK bank subject to restrictions, an important step towards launching our bank to customers in the UK.

What does this mean?

Now we enter a “mobilisation” period, a common regulatory stage for many new banks. During this period, we’ll complete the setup of our banking processes before starting to operate as a bank in the UK.

What happens now?

Until we complete our work building the best possible banking experience for our customers, we will continue operating as usual. Current customers will be able to keep using their existing Revolut account as always, with no changes to any of our products or services. New customers can continue opening e-money accounts with us, as well. And of course, all money in UK Revolut e-money accounts will continue to be safeguarded in the same way it always has been with us.

Stay tuned — as soon as our setup is complete and we’re ready to launch our UK bank, we’ll make sure to reach out to customers. We’ll then explain what the next steps in the process will be for existing Revolut accounts to become UK bank accounts.

What do customers need to do?

Until we complete the mobilisation stage, nothing! We’ll handle everything and we’ll keep customers informed at every step of the way. If you have any questions, check out our FAQs.