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Revolut gets full UK banking licence after years-long wait
- On March 11, 2026, regulators lifted restrictions on Revolut's UK banking licence, allowing Revolut Bank UK Ltd to launch as a fully authorised bank with current accounts for retail and business customers.
- Since 2024, Revolut operated under a restricted banking licence after a three-year wait and a mobilisation phase, delaying full UK banking authorisation despite holding EU approval.
- Current accounts will start rolling out to select new customers within days, with gradual expansion over the coming weeks and lending and balance-sheet products enabled by the full licence.
- The licence positions Revolut to offer balance-sheet products that pressure incumbents, tied to a $4 billion commitment to the UK and plans to create 1,000 jobs.
- Recently, Revolut launched banking operations in Mexico and aims for India and South Africa, while valued at $75 billion and targeting 100 million customers amid criticism over anti-money-laundering rules.
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47 Articles
Revolut secures UK banking licence after four-year approval process
Revolut has secured a full UK banking licence from the Prudential Regulation Authority following a four-year regulatory approval process.The authorisation allows the fintech company to establish Revolut Bank UK and expand its range of services for its 13 million customers in Britain.Deposits held with the new bank will be protected under the Financial Services Compensation Scheme (FSCC).The protection gives customers the same safeguards availabl…
·London, United Kingdom
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Coverage Details
Total News Sources47
Leaning Left7Leaning Right5Center12Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 29%
C 50%
R 21%
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