By Aisling Finn on Thursday 4 March 2021
Revolut now offers fully protected bank accounts in 11 European markets.
Revolut has officially launched as a bank in ten European countries, using its Lithuanian banking licence to do so.
As of today, Revolut now offers protected deposit accounts in Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Malta, Romania, Slovakia and Slovenia.
Virgilijus Mirkės, Chief Executive Officer of Revolut Bank, said: “Launching the bank in ten new European markets will provide a greater level of security and confidence for our customers, and will enable us to launch a host of new products and services in the near future.”
To date, Revolut has amassed over 15m customers worldwide in nearly 40 different markets.
The digital banking service processes more than 100m transactions a month, with customers able to send money globally and hold and exchange 31 currencies in the Revolut app.
While the fintech is busy launching fully-fledged bank accounts in countries across Europe, Revolut is still yet to do so here in the UK.
If the fintech’s application is successful, Revolut’s customers will finally have access to the Financial Services Compensation Scheme (FSCS), which will protect deposits held in Revolut accounts up to £85,000 per person.