Does switching to Revolut Bank constitute opening a new bank account?
Your account would be exactly the same. The main differences is the new entity you would be part of (Revolut Bank instead than Revolut Payment UAB) are:
- Your money would be protected by Deposit insurance of up to 100.000EUR.
- Your statement will show a different IBAN for the Deposit insurance only - which means you can't use this IBAN for transfers. For that, you should keep using the IBAN from the app in Account details.
You can read more about it here.
Joining Revolut Bank UAB
- Where is Revolut Bank Live?
- Will my account change in any way when I join the Bank?
- Do I have to join the Bank?
- How do I join the Bank?
- Revolut Payments UAB and Revolut Bank UAB — what is the difference?
- Why can't I see the Revolut Bank banner?
- What is the price list for using Revolut Bank? Why is it not sent in the email?
- Will my cards be separate if I join Revolut Bank?
- Is credit or overdraft provided if I join Revolut bank?
- How can I check if I am already under Revolut Bank?
- Is my money secure with Revolut Bank?
- Can I order a credit card if I join Revolut Bank?
- Does switching to Revolut Bank constitute opening a new bank account?
- What are the benefits of joining Revolut Bank?
- Can I get more information about tax collection at Revolut?