Revolut ceases operations in Ukraine
"Letters of happiness" have begun arriving in the personal inboxes of Ukrainian users, who have 60 days to withdraw funds from their personal accounts.
"Letters of happiness" have begun arriving in the personal inboxes of Ukrainian users, who have 60 days to withdraw funds from their personal accounts.
Ukrainian Revolut users have started receiving letters from the British neobank notifying them of account closure. The message states that this decision was influenced by the requirements of local legislation. The deadline for termination of account servicing is set for February 22, 2026, after which the accounts will be blocked. It is important that after this date, Ukrainians will still be able to withdraw funds to external accounts.
“While we are currently unable to provide our services to residents of Ukraine, we hope that this will be possible in the future. We will notify you if the situation changes,” Revolut said in a statement.
The bank recommends withdrawing all funds from accounts and generating account statements by February 22. If the user does not withdraw funds independently, the bank will automatically transfer all money to euros. This also applies to other assets such as cryptocurrencies and precious metals. The account holder who did not sell the assets independently will receive the proceeds in fiat currency with the subsequent transfer of funds to the main account.
Recall that 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, and that's when the first rumors began to spread about the possible cessation of operations in Ukraine.
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