What does the French banking licence mean for me?
What will happen to my account?
Revolut has received a full banking licence in France from the Autorité de Contrôle Prudentiel et de Résolution and the European Central Bank. This means that your account will be moved from Revolut Bank UAB French branch to our new, locally regulated French bank.
You don't need to do anything right now. We'll reach out to you with all the details closer to the migration time.
What impact should I expect on my account?
The migration will have no impact on your account activity. Your account details, including your IBAN, and your card information will remain exactly the same.
All payments and transactions will continue to work without interruption. Your complete transaction history and account statements will remain fully accessible in the app after the migration.
What if I don't want to be a customer of the French bank?
If you do not wish to be migrated, you can close your account free of charge before the migration. You'll receive two months' notice before your account is migrated, along with the updated terms and conditions (T&Cs) reflecting that services will be provided by the French bank.
You will not need to take any action if you're happy with these changes. You will be deemed to have accepted the new T&Cs unless you inform us otherwise before the migration date.
If you do not wish to accept the updated T&Cs, you will have the right to refuse the changes and terminate your agreement free of charge at any time before the migration.