After a three-year wait and repeated false starts, Revolut received full authorisation as a UK bank from the Prudential Regulation Authority on 11 March 2026.
For UK customers, the most immediate change is deposit protection — now covered by FSCS up to £120,000. The licence also unlocks mortgages and consumer credit products.
Important for EU residents: The UK banking licence does not change Revolut’s EU regulatory status. EU customers remain on Revolut Bank UAB (Lithuania), covered by the EU Deposit Guarantee Scheme up to €100,000.
Revolut reported £4.5 billion in revenue for 2025 (+46% YoY) and targets an IPO around 2028.
What it means for users: UK residents now have FSCS protection. EU residents: nothing changes, but the milestone reduces counterparty-risk perception across the board.
Source: CoinDesk / PRA