What will happen after Brexit?


#1

Will we in Europe still be able to use Revolut? And will the European banking license persist?


#2

Hey. Yes we will still be able to use their services. The banking license have most likely been submitted through their Lithuanian banking partner. When they have their license it can be passported to other eu countries.


#3

but after getting the licence in Lithuania they’ll be a licensed bank in the UK until 2020 and then became a pseudo-bank in the UK again… pretty odd situation. I also wonder about the impact of this process on our IBANs and card numbers (currently prepaid but should become debit cards)


#4

Revolut is applying for two licences, with an EU one in Lithuania which will allow them to passport through the Eurozone/EU, and a UK one via the FCA/PRA.


#5

thanks for clarifying @capital I thought it was only the EU licence


#6


#7

I still wonder how this will affect the GB IBANs that we got.
Can we keep them or will we get new (LT) ones?


#8

@AndreasK said they are working on EU and UK banking licenses.


#9

I know. It still doesn’t really explain what’ll happen to the IBANs.