Need a hand?

After completing the migration, your old IBAN will remain active for at least 12 months. During this period, any incoming payments or outgoing Direct Debits using the old IBAN will be redirected to the new Italian (IT) one. Your old IBAN will then be deactivated.

Once you receive your new IT IBAN, we suggest updating the IBAN associated with any existing payments and Direct Debits to avoid any disruptions.

All the products and functionalities associated with your old IBAN and account will continue to work as usual, during and after the migration. This includes debit cards (both physical and virtual), investments, RevPoints, and plan subscriptions. Any money or funds in your account won't be affected.

For this reason, you won't need to request any new cards or transfer any money or investments.

After migrating, your account will be subject to Italian regulations. This has two main implications when it comes to taxes:

• You won’t need to declare your account in your tax declaration anymore, which you previously had to do with the old IBAN
• If your Annual Average Balance (Giacenza Media Annuale) is greater than €5,000, Revolut will pay the stamp duty (max €34.20 per year) to the local Tax Authority and the amount will be deducted directly from your available funds. For more info, read this article

After the migration, your funds will continue to be insured by the Lithuanian State Company 'Deposit and Investment Insurance' (VĮ 'Indėlių ir investicijų draudimas').

This means that if an insured deposit isn't returned because Revolut Bank UAB is unable to fulfil its financial obligations, the Lithuanian State Company 'Deposit and Investment Insurance' will pay the deposit insurance compensation for deposits to the depositors.

The maximum amount of insurance compensation for deposits with Revolut Bank UAB for a single depositor is €100,000 and is determined by aggregating all the deposits held with Revolut Bank UAB. Certain deposits aren't insured. You can find more details on this page.