Regulatory news • 10 August 2026
Revolut becomes a licensed bank in France: what changes for you
On 10 August 2026, Revolut passed a major milestone: its entity Revolut Bank S.A., a bank incorporated under French law (and not a mere branch), was granted a full banking licence in France. The decision was taken by the Governing Council of the European Central Bank (ECB), following a joint assessment with the ACPR (Autorité de contrôle prudentiel et de résolution, the French banking and insurance supervisor attached to the Banque de France). It is Revolut's second full banking licence in the European Union, after that of Revolut Bank UAB in Lithuania. In practice, Revolut's 8 million customers in France, currently served by the French branch of the Lithuanian bank, will gradually be transferred to a French bank supervised from Paris.
The concrete benefits for customers
What French bank status really brings, beyond the announcement.
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French deposit guarantee (FGDR) up to €100,000
Your deposits are already protected up to €100,000 per depositor and per institution, but by the Lithuanian guarantee scheme, since accounts in France still depend on the branch of Revolut Bank UAB. After the migration to Revolut Bank S.A., that protection will be provided by the Fonds de garantie des dépôts et de résolution (FGDR), the French deposit guarantee scheme, with the same ceiling. An identical guarantee in terms of amount, but with a counterpart based in France and a local legal framework.
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Supervision by the French regulator
Revolut Bank S.A. is placed under the supervision of the ACPR, alongside the ECB. A local regulatory anchor that strengthens trust and clarifies the avenues of redress for customers in France (mediation, complaints), whereas the Lithuanian entity answered first to the Bank of Lithuania.
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A French IBAN (FR) already in place, and unchanged
Since 2024, customers in France have had an FR IBAN through the French branch. Revolut confirms that the IBAN and card will stay the same after the migration to Revolut Bank S.A.: no direct debit, salary payment or subscription to set up again.
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The way open to credit, savings and mortgages
French bank status allows Revolut, in time, to offer a full range: consumer credit, savings products, mortgage lending and more localised services. Revolut talks of a "gradual" roll-out, with no timetable announced (see the caveat below).
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Paris as Western Europe headquarters
Revolut is making Paris its headquarters for Western Europe, with an announced investment of more than one billion euros over three years and several hundred hires. The stated aim: to speed up the localisation of products and support, and to become the number one online bank in France.
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Greater robustness
A full banking licence imposes strict prudential requirements (capital, governance, internal controls), assessed by the ACPR and the ECB. A sign of staying power for a company that claims 8 million customers in France (July 2026) and more than 75 million worldwide.
Today and after the migration: what changes, what does not
Until your account has been transferred, nothing changes for you. Here is the situation before and after the migration to Revolut Bank S.A.
| Item | Today | After the migration |
|---|---|---|
| Entity holding the account | French branch of Revolut Bank UAB (Lithuanian bank) | Revolut Bank S.A. (bank incorporated under French law) |
| Deposit guarantee | Lithuanian scheme, €100,000 | FGDR (France), €100,000 |
| Supervisors | Bank of Lithuania and ECB | ACPR and ECB |
| IBAN | FR IBAN (since 2024) | Unchanged |
| Card, plan, subscriptions | Working normally | Unchanged |
| Action required | None | None (2 months' notice, free closure possible if you disagree) |
| Date | Ongoing | "In the coming months", not disclosed |
The caveat to bear in mind (our honest analysis)
For everyday users, nothing changes for the time being: your account, card, IBAN and subscriptions keep working exactly as before. The transfer of your account to Revolut Bank S.A. will be announced with at least two months' notice, and you will be able to close your account free of charge if the change does not suit you. No action is needed to remain a customer.
Our position is unchanged: we welcome a real step forward for deposit protection and for Revolut's credibility, while staying factual about the timetable. We will update this page as official announcements are made.
A few key facts
Frequently asked questions
Since when has Revolut been a licensed bank in France?
Since 10 August 2026. On that day, the entity Revolut Bank S.A., a bank incorporated under French law, was granted a full banking licence, following an assessment by the ACPR (the Autorité de contrôle prudentiel et de résolution, France's banking and insurance supervisor) and the European Central Bank, by decision of the ECB's Governing Council. It is Revolut's second full banking licence in the European Union, after that of Revolut Bank UAB in Lithuania.
Are my deposits with Revolut protected?
Yes, in both cases. Today, your account is still held by the French branch of Revolut Bank UAB (a Lithuanian bank): your eligible deposits are covered by the Lithuanian deposit guarantee scheme, up to €100,000 per depositor and per institution, in line with the EU framework. Once your account has been migrated to Revolut Bank S.A., that protection will be provided by the French Fonds de garantie des dépôts et de résolution (FGDR), France's deposit guarantee scheme, with the same €100,000 ceiling.
When will my account be transferred to Revolut Bank S.A.?
Revolut has announced a migration "in the coming months", with no precise date so far. You will receive at least two months' notice before your account is transferred to the French entity. If you do not agree with the change, you will be able to close your account free of charge before the migration. No action is required on your part if you wish to remain a customer.
Will my IBAN change?
No. Customers in France have already had a French IBAN (starting with FR) since 2024, through the French branch. Revolut states that your IBAN and card will remain unchanged after the migration to Revolut Bank S.A. Your direct debits, incoming transfers and subscriptions will keep working with nothing to do on your side.
Will I finally get access to credit, regulated savings and the Livret A?
That is the stated direction, but with no timetable. Revolut says it wants to roll out credit, savings and mortgage products in France "gradually" thanks to its new status. No launch date has been given. As for the Livret A (France's state-regulated, tax-free savings account), nothing is confirmed: distributing it requires an agreement with the Caisse des dépôts, the French public financial institution that centralises those funds, and no such agreement is known to date. For your current needs, see our guide to Revolut consumer credit.
Do I need to do anything now?
No. Your account, card, IBAN and subscriptions work exactly as before, and Revolut will notify you at least two months before the migration. If you are not yet a customer, now is a good time to open an account and get started properly, then compare the plans with our plan comparison.
Sources
- Revolut, "Revolut receives French banking licence" (official press release) (10 August 2026)
- Revolut, blog post "Revolut, banque agréée en France" (announcement to French customers, in French) (10 August 2026)
- Revolut Help, "What does the French banking licence mean for me?" (official FAQ, migration and deposit guarantee) (8 September 2026)
- Tech.eu, "Revolut clinches French banking licence" (10 August 2026)
- Payment Expert, "Revolut secures full French banking licence from ECB" (10 August 2026)
We will update this page as Revolut and the ACPR make official announcements, in particular when the account migration begins.
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