REVOLUT IS CLOSING UKRAINIANS’ ACCOUNTS: WHAT HAPPENED AND WHAT TO DO
British fintech neobank Revolut has begun the process of closing the accounts of some Ukrainian users, and many have already received corresponding messages in the app. Clients are advised to withdraw their funds within 60 days, otherwise they will not be able to use the platform’s financial services after this period. Ukrainian users have begun receiving notifications that their accounts will be closed due to legal requirements and regulatory changes to the service. Revolut provides a minimum period of time—approximately 60 days—for users to withdraw their funds or transfer them to another account. Once the account is closed, it will be impossible to:
- Top up your account;
- Make card payments;
- Withdraw cash from ATMs;
- Use Revolut services for future transactions.
WHY IS IT HAPPENING
The decision is related to regulatory and legal requirements that Revolut is attempting to comply with under pressure from local financial regulations. The company could face licensing requirements or restrictions on cross-border financial transactions for Ukrainian residents. In 2025, the National Bank of Ukraine noted that Revolut provides financial services without a Ukrainian banking license, which leads to additional risks and requirements for operating in the Ukrainian market.
WHAT IT MEANS FOR USERS
If you are a Ukrainian Revolut user and have received an account closure notice:
- Don’t delay withdrawing your funds.
The company provides up to 60 days, but this period may vary depending on the specific case and the terms of the notice.
- Transfer funds to another bank account or financial service.
Choose a reputable bank or service like Wise, Payoneer, or traditional banks to avoid the risk of losing access to your funds.
- Save transaction confirmations.
This can be helpful if you have questions from customer support or financial institutions.
- Contact Revolut support for clarification.
Use in-app chat or the official email to find out the exact closure date and instructions for your account.
ADVICE AND RISKS
- Avoid keeping large amounts of money on services that may have restricted access.
Fintech services may change their policies or suspend service to clients from certain countries.
- Consider opening accounts with financial institutions licensed in Ukraine or the EU.
This will provide greater legal certainty and stability in accessing your funds.
- Follow Revolut’s official announcements.
The service may provide additional instructions or offer alternative solutions.
WHERE IT IS POSSIBLE TO OPEN AN ACCOUNT INSTEAD OF REVOLUT
If your Revolut account is closed or the service no longer accepts new registrations for Ukrainians, it’s worth considering other services and banks.
- Wise (earlier TransferWise) — a multi-currency online account with the ability to: store up to 40+ currencies; make international transfers with transparent fees; receive bank details (IBAN) in select currencies; and order a debit card. Wise isn’t a bank, but its account functions as a full-fledged multi-currency account for international transactions and can be an alternative to some of Revolut’s features.
- N26 —a German digital bank with a full banking license: account opening is 100% online (with photo/video identification); a virtual Mastercard for online payments; support for SEPA transfers and euro transactions.
- Monese — UK/EU online account: multi-currency accounts in EUR, GBP, and more; open online with no residency verification required; suitable for international payments.
- Payoneer — an option for receiving payments from abroad: a multi-currency account (USD, EUR, GBP, etc.); the ability to receive money from foreign companies and freelance clients; withdrawal of funds to a local bank account.
- PayPal — although this is not a bank account, it allows you to send and receive payments internationally; it is suitable for online payments and transfers; it can be useful as an additional option for international transactions.
OUR COMPANY OFFERS A PRACTICAL AND RELIABLE SOLUTION FOR CLIENTS LOOKING FOR AN ALTERNATIVE TO REVOLUT AND WANT TO MAINTAIN ACCESS TO INTERNATIONAL PAYMENTS.
We support the opening of payment services with correspondent accounts in reliable foreign banks, and also provide complete bank details for receiving and sending funds. These solutions have been discussed in detail in our previous articles and are successfully used by our clients.
We offer:
- opening an alternative account for transferring funds from Revolut;
- electing a solution for further operational activities;
- clarification of requirements: documents, terms, and conditions;
- full support until the details are received and the account is ready for use.
If you have faced account closure with Revolut or want to prepare an alternative in advance, contact us.
We’ll be happy to offer you:
- what options are available in your specific case;
- what are the opening times;
- what documents are required.
Contact us — we’ll help you securely transfer funds and open an account for future business.
WHY YOU SHOULD USE OUR PROFESSIONAL SUPPORT
We are an Authorised Corporate Service Provider (ACSP) registered with Companies House.
We carry out verification quickly, online and without bureaucracy.
We work with clients from the UK and other countries.
We guarantee compliance with all Companies House standards.
We provide support in Ukrainian, English, and Russian.
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