Revolut closes Ukrainian accounts “due to local legislation requirements”
British neobank Revolut is closing Ukrainian accounts “due to local legislation requirements.”
Letters about account closures began arriving on December 22, according to users on social media. The company also confirmed the closure to AIN.
“Revolut can no longer provide its European bank accounts to customers currently residing in Ukraine. We are notifying affected customers directly about the decision, in advance, to ensure there is enough time to withdraw funds from their accounts. Importantly, this decision does not affect Ukrainian citizens living in the EEA who hold Revolut accounts; we will continue to provide services to these customers,” the team said.
During these 60 days, users will be able to withdraw funds from their accounts and download statements.
On February 22, the account will be closed, and funds can only be withdrawn to an external bank account.
Revolut in Ukraine
As a reminder, Revolut announced the expansion of its services for Ukrainian citizens on February 11. In a brief interview with AIN, Dmitry Strelchuk, Head of New Market Launches, stated that they are currently providing services to Ukrainian customers through Revolut Bank UAB. They are also working on obtaining a Ukrainian license.
“For users to have access to the hryvnia, we need to partner with one of the Ukrainian banks or obtain a banking license. We will work on this, it will take time, and it will be later,” Strelchuk said.
Later, the National Bank published a statement emphasizing the need for Revolut to obtain a banking license in Ukraine.
“According to the Law of Ukraine ‘On Banks and Banking Activities’, the only permissible forms of banking activities in Ukraine are the establishment of a branch of a foreign bank or obtaining a banking license in Ukraine. Any of these forms requires the permission of the National Bank of Ukraine,” the statement said.
Revolut responded that it only offers accounts in the EU and does not plan to open Ukrainian accounts without additional permission. It also emphasized that it had informed the regulator of its plans to obtain a Ukrainian banking license.
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https://en.ain.ua/2025/12/22/revolut-closes-ukrainian-accounts/