March 13, 2026
Revolut has officially launched its UK banking operations under Revolut Bank UK Ltd. following regulatory approval from the Prudential Regulation Authority (PRA). The approval allows Revolut to exit the mobilisation phase and operate as a fully licensed bank in the #UK, marking a major milestone in the company’s long-term strategic plans.
With a base of 13 million UK customers, Revolut Bank UK Ltd will offer a broad range of banking services, including deposit accounts protected by the Financial Services Compensation Scheme (FSCS). Current accounts will begin rolling out gradually to new customers in the coming weeks, ensuring a smooth transition, while existing customers can continue using their Revolut app and cards without interruption.
Expanding Banking Services and Customer Protection
The launch enables Revolut to provide fully licensed banking services to both retail and business customers. Eligible deposits will be protected by the FSCS, offering peace of mind to customers. This step also lays the foundation for the future introduction of additional services, including lending products and other financial solutions.
Commitment to Growth and Investment
This milestone aligns with Revolut’s commitment to invest £3 billion ($4 billion) in the UK and create 1,000 high-skilled jobs. It is part of the company’s broader global growth strategy, which includes a £10 billion ($13 billion) investment over five years and the creation of 10,000 new jobs worldwide. Revolut is actively scaling operations to expand into 30 new markets by 2030, with recent licensing announcements in the Americas and ongoing expansion across key regions.
Leadership Comments
Nik Storonsky, Co-Founder and CEO of Revolut, said:
“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, added:
“Becoming a bank in our home market marks a defining moment in our journey — a milestone achieved through 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, alongside the innovative services our customers already rely on. This will enable us to deliver the most seamless, secure, and customer-centric banking experience for consumers across the UK.”
A Strategic Milestone in Revolut’s Growth
The launch of Revolut Bank UK Ltd represents the next phase in the company’s ambitious growth trajectory, strengthening its presence in its home market and positioning it for global expansion. Customers can expect a gradual rollout of new banking services while continuing to enjoy uninterrupted access to existing Revolut products
