Quick Answer: Why is my Revolut Iban Lithuania?

Revolut has announced that it is moving its Irish users’ accounts to Revolut’s business in Lithuania because its e-money licence will no longer be valid post Brexit. The move is temporary while the digital bank awaits the outcome of a licensing process with the Central Bank of Ireland.

Why did my Revolut IBAN change?

Your IBAN will change after you are migrated to our Lithuanian entity. … We will inform you by email each time we receive a payment directed to your old ‘GB’ IBAN. This will ensure that you still receive your payment and remind you to inform counterparties that your IBAN has changed.

Why is Revolut based in Lithuania?

In an effort to mitigate the regulatory and business uncertainty and ensure smooth continuous provision of services, in March 2020 Revolut announced that all customers in Central and Eastern Europe are being moved to their new European entity in LithuaniaRevolut Payments UAB.

Is Revolut safe in Lithuania?

Almost all deposits with Revolut Bank UAB are insured by the Lithuanian State Company “Deposit and Investment Insurance” (VĮ “Indėlių ir investicijų draudimas”).

Does Revolut have an IBAN?

To locate your new IBAN: Go to the Revolut app. Select the ‘Accounts’ drop-down showing all your active currencies. Select your European local currency account such as Euro.

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Is there an IBAN for Revolut?

“This is because all Revolut IBANs currently start with a ‘GB’ as this is what is used for all UK-based accounts. … When this happens Revolut customers in Ireland will be migrated to its Irish business and protected and regulated by the CBI, but it will mean that their IBAN and BIC numbers will change once again.

Is Revolut only for Europe?

We are currently only supporting legal residents of the European Economic Area (EEA), Australia, Singapore, Switzerland, Japan and the United States.

Is Revolut a bank in Lithuania?

Revolut has started operating as a bank in 10 Central European countries. Using a license issued in Lithuania, Revolut Bank will operate in Bulgaria, Cyprus, Croatia, Estonia, Greece, Latvia, Malta, Romania, Slovakia, and Slovenia.

Is my money secure in Revolut?

Is my money safe? Revolut is not a bank but is allowed to hold on to your money as something known as an “e-money” instituon. … Money held with a bank is covered by the Financial Services Compensation Scheme (FSCS) and if the bank goes under then your cash is protected up to £85,000.

What is IBAN number Lithuania?

In the Lithuanian banking sector, the IBAN number is composed of 20 alphanumeric characters. The IBAN in Lithuania has the following structure: LT60 1010 0123 4567 8901. LT. Two letters – country code (ISO 3166)

Where is Revolut Europe based?

Revolut is a financial technology company that offers banking services. Headquartered in London, England, it was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko.

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