Revolut has received conditional approval from the US Office of the Comptroller of the Currency (OCC) for a national bank charter, a major milestone in the London-based neobank’s multi-year push to launch a fully-fledged American bank.
The conditional nod means Revolut still needs sign-off from the FDIC (for federal deposit insurance) and the Federal Reserve before it can open for business as a US national bank. Revolut has said it plans to inject roughly $95 million in capital into the new entity, which would be based in Stamford, Connecticut, and is targeting a full US bank launch by 2027.
A US banking charter would let Revolut accept deposits insured up to $250,000 per account, access Federal Reserve payment rails directly, and offer products like personal loans and credit cards under its own banking license rather than through a partner bank — closing a long-standing gap with US-native fintech rivals.
Revolut currently serves around 80 million customers worldwide, with the EU and UK still its core markets. The US charter push runs alongside those of other European neobanks: rival bunq had its own OCC de novo charter application denied in August 2026 over supervisory and compliance concerns, underscoring how selective US regulators have been with foreign-fintech bank-charter applications.
What it means for EU users: the US charter itself doesn’t change anything about Revolut’s EU banking license, fees, or product set — but it signals the company’s ambitions and balance-sheet confidence as it works toward a long-rumoured IPO. EU customers should not expect near-term product changes from this specific approval.
Source: https://www.bloomberg.com/news/articles/2026-09-03/revolut-wins-conditional-approval-from-occ-for-us-bank-charter