European Banking Licence 🏦

I’ve replied to your DM. Could you please get back to me?

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Gosh some people are so dramatic …

According to the agreements we have in place with you ( your account was temporary locked as further verifications were needed. We apologise if you experienced any inconvenience as a result of this but our compliance team must follow certain protocols to ensure the safety and security of all user’s account as well as our system.

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Have been complaining since yesterday… no response. Can we stop celebrating and help?


I wonder will you inform your customers and give a time to terminate contract with Revolut prior becoming a bank? I have not agreed with Revolut to open and operate a bank account in Lithuania under Lithuanian law.

This is excellent news, and most certainly required if Revolut is to bring control in-house, and be given the authority to innovate properly.

All of the talk in this thread about politics and information sharing, etc, is largely FUD.

All banks and financial firms are governed by national and international regulation; information sharing is the standard, not the exception. AEOI and OECD requirements will trickle down to all financial providers. If you believe Revolut can continue to lay below some perceived ‘radar’, you are mistaken. Being a bank merely cements their technical and legal ability to innovate – it has nothing to do with eliminating protections you never really had!

I’d be interested to know if there’s an assumed timeline for this? Others have mentioned ~6 months, which I guess puts you into Q2 or so of next year. Application obviously isn’t the same as acceptance - have the relevant authorities given any hint as to how the application is progressing?

I’m very excited about this. You have to be in a game to change it - banking is no different. This would open up the potential for some serious innovation and hopefully eliminate many of the blocks that seem to occupy a good percentage of the threads in this forum… namely, accounts being arbitrarily blocked, payment processor issues, etc.

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Does a European Banking License mean also that the card will get the Debit status and not Prepaid debit? As Revolut could issue their own cards with a banking license

It would be nice, but probably it will not at first:

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That means that the metal cards are also things for the long way probably. A full debit card is better accepted, the debit prepaid has its issues but lets see what 2018 will bring us.

It woud be great if Revolut could make a Roadmap with all the features for 2018

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My understanding is that :R: already has the Principal Membership Licence for Mastercard, and is a debit issuer for Visa.

Only hold-off for actually issuing (full) debit cards appears to be obtaining the European banking licence (which may have their own spec, for debit cards.).


Does that mean that :r: will change from MC to Visa or will they get a Membership from MC also?

Not sure.

I think they’ve got both, so theoretically they could issue both (full) MC debit cards and Visa debit cards, switch completely to Visa after the trial, resume using only Mastercard and discarding Visa (Trialing Visa an attempt to get better rates/fees with Mastercard, in re-negotiations.), or possibly even issue merged MC–Visa debit cards.

Visa has better coverage(?) and branding in the Americas and East Asia (which they’re expanding to in 2018), so there is a real possibility that they’re going to do a full switch to Visa, or a partial switch (MC for Europe, Visa for ROW).


Looks interesting, Visa is better accepted in Africa as well. Will Maestro and or Vpay be addedd?

As a good news, I also find this information -, so I already have MC which will be issued by :r: after 13 January 2018

I have Visa that is issued by Revolut and I also have MasterCard that is issued by Wirecard. Wirecards MasterCard wont be migrated?

as I know, no. Only PaySafe

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So only the 539123 BIN cards and not the 535298 cards right?

Yes, I was informed about it with popup in the app, but I can not find screenshot :wink:


Hi - does this mean my Euro account will qualify as a SEPA account ? Or not ?
When do you expect this to be operational ?

Only SEPA payments are accepted on Personal EUR account, it is available just after ID verification and activation by user in the app.

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