Revolut Business: multi-currency account from UK PRA bank and EU ECB-licensed Revolut Bank UAB
partner, Corporate & Commercial
Concept
Revolut — British fintech group founded in 2015. Key difference from mostneobanks—Revolut holds full banking licenses from two regulators: Revolut Bank UAB in Lithuania holds an ECB-issued credit institution license since 2018 (with EU-passport across all 27 countries, deposit insurance up to €100,000), and Revolut Bank UK Ltd received a British banking license from PRA in 2024 with restrictions (mobilisation transitional regime),and on 11 March 2026 exited this regime and obtained full British banking license without restrictions— with the right to issue loans, mortgages and enter the full UK retail banking market. Retail base in Britain — 13 million clients; group valuation —$75bn(as of 2025), one of Europe's most valuable private tech companies. In Asia — Revolut Singapore Pte Ltd under MAS Major Payment Institution. According to public data for 2025 —60+ million retail clients,over 500,000 business clients.
Private.lawas Revolut Business partner
Private.law— Revolut Business partner with dedicated contact in Revolut's Singapore desk (Russell Tey, partner manager for APAC). For UK/EU clients we submit through partner channel UK desk, for SG and APAC — through Singapore desk. Partner channel matters for complex profiles — multi-jurisdiction structures, UBOs from different countries, jurisdictions with additional questions. For standard SMEs with UK/EU company, Revolut can be submitted self-service — partner channel provides no time savings.
What Revolut Business does
- Multi-currency accountin 30+ currencies: GBP, EUR, USD, CHF, JPY, AUD, CAD, SGD, HKD, AED, PLN, CZK, RON, NZD, ZAR, SEK, NOK, DKK and others. Local details for GBP (UK sort code), EUR (SEPA IBAN), USD (US ACH), CHF.
- Currency exchangeat interbank rate on weekdays. On weekends — markup 0.5–1%. Free conversion limit included in tariff plan (on Grow — £25,000/month, further per tariff).
- Local paymentsin 30+ currency zones (SEPA, Faster Payments, Bacs, SWIFT) and local rails in 30+ countries.
- Corporate Visa and Mastercard cards: virtual/physical issuance, multi-currency, auto-conversion at mid-market rate, limits, roles, freeze. Apple Pay / Google Pay.
- Expense management.Automatic receipt collection, OCR, ERP integrations (Xero, QuickBooks, NetSuite, FreeAgent, Sage), approval workflows.
- Invoicing.Issuing invoices to clients, accepting payment through Revolut Pay (instant link).
- API.Integrations, bulk payouts, recurring payments, Open Banking. For developers.
- Revolut Reader.mPOS terminal for offline card acceptance (UK, EU, US).
- Tariffs.Free / Grow (~£25/month) / Scale (~£100/month) / Enterprise (custom). Different FX limits, free transfers, expense management.
Application
UK / EU SME with banking status and FSCS/EDIS protection
Classic Revolut Business use case. British or European SME focused on product, wants banking account with low fees and multi-currency. Revolut provides: UK FSCS protection up to £85,000 through Revolut Ltd, European LB DGS protection up to €100,000 through Revolut Bank UAB. This is real banking protection, not safeguarding — this distinguishes Revolut fromWise,Airwallex,Statrysand other neobanks.
Singapore Pte. Ltd. with regional business
Singapore Pte. Ltd. with APAC operations. Revolut Singapore Pte Ltd provides local details in SGD, USD, GBP, EUR, AUD, HKD. PayNow + DBS integration. Weaker thanAspireandStatrysin local spend management, but stronger in international FX and brand recognition.
Company with team and distributed expenses
Revolut corporate cards — strong side. Fast issuance, virtual + physical, transparent limits, mobile app for each employee, expense reports on autopilot. Apple Pay/Google Pay out of the box. For team of 10–50 people with clear expenses on travel, advertising, subscriptions — this wins over competitors on brand and user experience.
Freelancer / solo-entrepreneur in EU/UK
UK Ltd or EU GmbH for one freelancer. Revolut Business Free or Grow provides banking account with local details, cards, app. For this profile Revolut often better thanWiseif banking status matters, and equal to Wise if cheapest FX matters.
Mandatory company requirements
- Jurisdiction.Revolut Business accepts companies from UK, EEA-30 (including Mainland EU + EFTA), Switzerland, US (selectively), Australia, Singapore, Japan, New Zealand. Offshores BVI/Seychelles/Marshall — rejection.
- Clear business model.Description + website + client base.
- Clean structure.Standard list for banking onboarding: incorporation documents, passports, proof of address, biometrics in app.
- Counterparties outside sanctioned countries.Revolut under UK PRA + EU ECB maintains strictest sanctions screening in neobanking sector.
Opening throughprivate.law
- Preparation.Collect incorporation documents, passports, business description.1–2 business days.
- Submission.For complex profiles — through partner channel Singapore desk; for standard UK/EU — in client cabinet (video verification on smartphone).
- Compliance review.Fast for clean profiles (minutes/hours), manual for complex (1–7 days).
- Activation.Details in 30+ currencies, card issuance — same day in app.
Total timeframe for clean profile — 1–5 business days.Complex multi-jurisdiction — 2–3 weeks.
Russian clients
Not suitable for
- Clients with Russian connection.Rejection almost always.
- Offshores BVI/Seychelles/Marshall.Rejection.
- Crypto-related businesses outside licensed frameworks.Revolut themselves operate retail crypto in EU, but business clients with crypto prohibited in AUP.
- Gambling, adult content, weapons, dual-use.Prohibited.
- Trade finance, L/C, bank guarantees.Revolut does not issue, despite banking status.
- Holding large capital in retail bank.Banking protection applies up to £85,000 / €100,000. For capital from $500k — private bank (Personal account abroad).
Q/A
Do you open Revolut Business for Russians?
No. Revolut in 2022 closed all accounts of Russian residents and strictly filters Russian connections of UBOs even with residence permit in EU/UK. For clients with Russia profile better to look atAirwallex,Statrys,3S Money.
How does Revolut differ from Wise, Airwallex, Statrys?
Revolut — only one of these 4 with full banking licenses in UK and EU. This provides FSCS/DGS protection, whichWise,Airwallex,Statrysdon't have (they have safeguarding). In return — Revolut stricter in KYC and does not accept Russian profiles.
How long does opening take?
On clean UK/EU profile — 1–2 business days. On complex multi-jurisdiction — 2–3 weeks.
What about deposit insurance?
UK residents with accounts in Revolut Ltd receive FSCS protection up to £85,000. EU residents in Revolut Bank UAB — Lithuanian DGS up to €100,000. SG clients in Revolut Singapore Pte Ltd — safeguarding under MAS (not SDIC, as this is MPI, not bank).
Does Revolut file CRS / FATCA reports?
Yes. As UK PRA-licensed bank + EU ECB-licensed bank Revolut must file full CRS reports in participating jurisdictions.
Related materials
- Neobanks
- Wise Business
- Airwallex
- Statrys
- 3S Money
- Personal account abroad
- CFC
Contact information
If you have questions or need consultation, our experts will be happy to help.
Private.lawAttorneys
This material is prepared for public information and may be freely copied.
We specialize in solving complex legal challenges for demanding clients.
Related
Contact information
If you have questions or need a consultation, our experts will be glad to help.
Request a callback
Private.law Attorneys
This material is prepared for public review and may be freely shared.
We work on complex legal matters for demanding clients.
Our site