Revolut Begins Rollout to 13 Mn Customers
FinTech BizNews Service
Mumbai, March 11, 2026: Revolut Bank UK Ltd has received regulatory approval from the
Prudential Regulation Authority (PRA) to exit the mobilisation phase, and launch as a bank in
the UK. The launch comes with an existing base of 13 million UK customers and follows
Revolut's recent commitment to invest £3bn ($4bn) and create 1,000 high-skilled jobs in the
UK.
This milestone means that Revolut Bank UK Ltd will be able to start offering accounts as a fully
licensed bank for both retail and business customers. It enables Revolut to offer deposit
accounts protected by the FSCS on eligible deposits and paves the way for a wider range of
services in the future, including lending and other products.
Revolut will gradually begin the process of rolling out current accounts to new customers in a
few days, starting with a small group and expanding over the coming weeks to ensure a
smooth user experience. For existing customers, nothing changes immediately, and
customers' Revolut app and cards will continue to work as normal. Customers will be notified
in the coming days about the migration to the new bank, a process that is expected to take a
few months in total. See further details on the transition process here.
Nik Storonsky, Co-Founder and CEO of Revolut, commented: “Launching our UK bank has
been a long-term strategic priority for Revolut, and marks a significant moment in our journey.
The UK is our home market and central to our growth. We look forward to introducing a full
suite of banking services to our millions of UK customers, bringing the same innovative
experience we already provide across the rest of Europe. This is a vital step in our mission to
build the world’s first truly global bank.”
Francesca Carlesi, UK CEO at Revolut, commented: “Becoming a bank in our home market
marks a defining moment in our journey — a milestone achieved through relentless focus,
discipline, and belief in what we’re building. Securing this licence lays the foundation for our
next chapter: expanding into a broader suite of products, including credit, to sit alongside the
innovative services our customers already rely on every day. This will now enable us to
continue on our mission to deliver the most seamless, secure, and customer-centric banking
experience for consumers across the UK.”
The launch of Revolut’s UK bank unlocks the next phase in the company’s growth trajectory.
The company recently announced a global £10bn ($13bn) investment over five years, in
addition to creating 10,000 new jobs as it expands its global footprint. The company is now in
the scaling phase of its commitment to launch in 30 new markets by 2030, with key licensing
announcements made in the Americas this year, and significant expansion progress made in
other key regions throughout 2025.
