Revolut, a neobank that officially announced the start of its operations in Ukraine in February this year, warned Ukrainian customers on Monday that it will be forced to close their accounts on February 22, 2026.
“In accordance with local regulations, we regret to inform you that we will no longer be able to provide our services to residents of Ukraine,” according to messages sent by the bank to users and reviewed by Interfax-Ukraine.
It is noted that for two months, it will still be possible to use accounts as usual, but after February 22 next year, it will only be possible to withdraw the balance from the account via an external bank transfer. In addition to withdrawing all balances, customers are advised to download account statements, as they may be needed for records or for other financial institutions in the future.
“Although we are currently unable to provide services to residents of Ukraine, we remain committed to making them available in the future and will communicate any changes if the situation changes,” the messages note.
As reported, on February 11, 2025, after a month and a half of beta testing, British fintech Revolut officially entered the Ukrainian market on the basis of a license issued by the European Central Bank to Revolut Bank UAB (Lithuania). At the same time, two weeks later, the National Bank of Ukraine (NBU) noted the need for the fintech to obtain a license to operate in Ukraine, which Revolut planned to obtain later.
In April, NBU Deputy Head Dmytro Oliynyk stated that the National Bank was interested in Revolut’s entry into the Ukrainian market, but within the framework of legislative and regulatory requirements, and was therefore in dialogue with it about obtaining a banking license. In an interview with NV Business, he said that, according to the regulator’s estimates, Ukrainians had opened up to 100,000 accounts with Revolut.
Monobank, the largest Ukrainian neobank and the second largest in terms of retail card customers in Ukraine, opposed Revolut’s entry into the Ukrainian market without obtaining a license.
Revolut was founded in 2015 in the UK and is headquartered in London.
