Is Revolut a bank?
In the UK, Revolut has been authorised with restrictions as a UK bank.
Revolut now enters a 'mobilisation' period. During mobilisation, we will complete the setup of our banking processes before we start to operate as a bank in the UK.
Once our setup is complete and we are ready to operate as a bank in the UK, we'll notify you of the next steps in the process for your existing Revolut account to become a UK bank account with us.
Until then, there will be no changes for you and you will be able to keep using your existing Revolut account as always. Your money will continue to be safeguarded in the same way that it always has been with Revolut and in line with the Electronic Money Regulations 2011.
The Revolut Group holds many licences and authorisations globally, giving us the power to provide you financial services including e-money account holding, stock trading, virtual currencies, insurance, and more.