Neobank

Revolut Passes 500,000 Customers in Austria, With Local IBANs Coming in 2027

co-produced by AI04. November 2026, 08:14

A hand holding a Revolut card to a payment terminal — Revolut wants to become Austrians' main bank. © Revolut

For many users, the Lithuanian IBAN has been the biggest drawback of Revolut, and in 2027 it will be gone: The neobank has just completed the registration of its Austrian branch and is building its own local unit. At the same time, Revolut has passed 500,000 customers in Austria. In November 2024, the figure stood at 250,000, meaning it has doubled in two years.

That makes Revolut one of the leading digital banks in the country, according to the company. Its stated goal is ambitious: Revolut wants to become Austrians’ main bank, covering everything from daily spending to saving and investing. Worldwide, the fintech has more than 80 million customers.

What Changes for Customers

Once the Austrian unit launches, which is planned for 2027, several things will change for customers:

Austrian IBAN: Customers will receive an Austrian account number, and salaries, direct debits and standing orders will then run locally. Existing customers are to be moved to the Austrian unit automatically starting in the first half of 2027.
Tax on interest: Revolut will automatically withhold capital gains tax on its savings account. Until now, customers have had to declare the interest in their own tax returns, at the special rate of 25 percent.
Supervision: As an Austrian branch, Revolut will also be supervised by the Financial Market Authority (FMA) and the Austrian central bank.

Legally, the branch remains part of Revolut Bank UAB, based in Lithuania, which can operate across the European Union with its European banking license. As a result, deposits remain covered by Lithuania’s deposit guarantee scheme of up to €100,000 per person.

What Remains Unclear

The branch will not make everything simpler. According to an analysis by broker-test.at, the change applies only to the current account and savings account. Stocks and E.T.F.s will still be held by Revolut Securities Europe UAB in Vilnius, so the brokerage account will not offer automatic tax withholding for now. Investors will still have to declare dividends, capital gains and E.T.F. distributions themselves. Whether Revolut will restructure that business as well is an open question.

According to broker-test.at, it is also unclear how many of the 500,000 customers actively use their accounts, as Revolut has not disclosed figures. Nor is it clear whether the Lithuanian IBAN will keep working in parallel after the switch, or whether customers will have to move standing orders and direct debits themselves.

Neobanks Move Closer to Austria

Revolut is following a trend: Digital banks and neobrokers are getting Austrian IBANs to solve the tax issue and become customers’ main bank. Trade Republic has been withholding capital gains tax through its Austrian branch since April 2025. Recently, Scalable Capital opened a bank branch in Vienna, complete with Austrian IBANs and automatic tax withholding. Austria’s own banks are also stepping up: bank99, the bank of Austria’s postal service, recently launched business99 for small businesses, and Erste Bank now even sells eSIM data plans in its George app, as Revolut did before it.