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.
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- How do I join the Bank?
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- Does switching to Revolut Bank constitute opening a new bank account?
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