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British neobank Revolut has warned all Ukrainian clients that it will be forced to close their accounts in 60 days, starting from February 22, 2026.
According to messages sent to Ukrainian users, the bank explained that due to local regulations, it can no longer provide services to residents of Ukraine. During the 60-day period, clients can still access their accounts, but after February 22, 2026, any remaining funds will only be withdrawable via an external bank transfer. Users were also advised to download account statements, as they may be needed in the future. Revolut added that it remains committed to making its services available to Ukrainians again if the situation changes.
Official entry into Ukraine
Revolut officially launched in Ukraine on February 11, 2025, under a license issued by the European Central Bank to Revolut Bank UAB (Lithuania). Following Russia’s full-scale invasion in March 2022, the neobank opened access to its services for Ukrainians who had been forced to leave the country. Revolut was also the first foreign bank to integrate document sharing via the “Diia” platform for user verification.
Lack of NBU license
At the end of February, the National Bank of Ukraine stated that Revolut had not obtained any licenses or approvals from them, had not submitted applications, and had not undergone the licensing process. The NBU emphasized that obtaining a Ukrainian banking license or establishing a branch of a foreign bank are the only legal ways to operate banking activities in Ukraine. In August, NBU Governor Andriy Pyshnyi said there had been an ongoing dialogue with Revolut regarding potential entry into the Ukrainian market, noting that any financial or payment services provided in the NBU’s jurisdiction require proper authorization and licensing.
About Revolut
Revolut is a fintech company offering banking services, founded in 2015 by Russian entrepreneur Nikolay Storonsky and Ukrainian Vlad Yatsenko. In December 2018, the company obtained a Challenger Bank license from the European Central Bank through the Bank of Lithuania, allowing it to accept deposits and provide consumer loans, but not investment services. Simultaneously, it also received an Electronic Money Institution license from the Bank of Lithuania.
