The National Bank of Ukraine has released its official position on the closure of Revolut accounts of Ukrainian users. The NBU noted that «the rules are the same for everyone».
The National Bank of Ukraine has released its official position on the closure of Revolut accounts of Ukrainian users. The NBU noted that «the rules are the same for everyone».
The press service statement states that the NBU is interested in large foreign players entering the Ukrainian market who adhere to the norms of domestic and European legislation in their activities.
«The rules are the same for everyone — any company that intends to provide financial services to residents of Ukraine must undergo an authorization procedure in accordance with the requirements of Ukrainian legislation and comply with the requirements of legislation on consumer protection and advertising,» the bank noted.
At the beginning of the year, Revolut announced its work on the Ukrainian financial services market. The process of obtaining a license has been ongoing since February, and according to Revolut representative Dmytro Strelchuk, the company plans to obtain a license by the end of the year.
However, the NBU stated that Revolut had not fulfilled the main condition for conducting business — establishing a branch of a foreign bank or obtaining a banking license.
In April, the neobank stopped registering new clients from Ukraine, which is when the first rumors began to spread about the possible cessation of operations in Ukraine. And already in December, Ukrainian Revolut users began to receive letters from the British neobank with a notification about the closure of accounts.
The NBU says that Revolut has decided to stop providing services and servicing bank accounts of clients who are residents of Ukraine, opened through Revolut Bank UAB. At the same time, accounts of Ukrainians residing and officially registered in the countries of the European Economic Area will continue to be serviced.
«Revolut has notified the National Bank of its intention to cease providing services to residents of Ukraine. We remain open to regulatory dialogue with Revolut and welcome any duly authorized form of this company’s presence in the Ukrainian financial market. The future model of presence in the Ukrainian market will be determined directly by the company itself, taking into account Ukrainian regulatory requirements and the list of services planned to be provided to Ukrainian consumers», the NBU said in a statement.
Recall that dev.ua talked about alternatives to Revolut that allow you to receive international transfers.
