Fintech bank Revolut will begin closing accounts for Ukrainians

Fintech bank Revolut, founded in 2015 by russian Nikolay Storonsky and Ukrainian Vlad Yatsenko, will begin closing accounts for Ukrainians.

This is stated in the bank's messages to clients, Ukrainian News Agency reports.

Ukrainians began receiving messages from Revolut on December 22 by e-mail and in the application.

This decision, as noted, was made due to the requirements of local legislation.

It is indicated that clients will be able to use the account for 60 days - and on February 22 it will be closed.

After 60 days from the moment of receiving the relevant message, the account will be closed, and users will only be able to withdraw funds to an external bank account.

After closing the account, clients will not be able to top up the account, make card payments or withdraw cash at ATMs.

All unused funds will be converted into euros and transferred to the client's external bank account.

All open positions in cryptocurrency and metals will need to be sold by the account closing date.

As Ukrainian News Agency earlier reported, it was previously reported that neobank Revolut officially launched its services in Ukraine, allowing local users to register accounts using Diia, Ukraine's digital identification system.

Subsequently, the National Bank of Ukraine reported that Revolut Bank had not received any permits from the NBU to operate in Ukraine.

After that, Revolut temporarily suspended the registration of new clients from Ukraine.