Neobank

Revolut Applies for Swiss Banking License

co-written by newsrooms.ai16. September 2026, 08:42

Revolut says it has applied to the Swiss Financial Market Supervisory Authority (FINMA) for a Swiss banking license. Approval could lay the groundwork for a standalone Swiss bank and a broader local offering. It would add to the banking licenses Revolut already holds in Lithuania and France. No decision has been made on the Swiss application yet.

According to the company, Revolut has more than 1.3 million customers in Switzerland. It plans to invest over 150 million Swiss francs in the market over the next five years. The fintech is also adding people to its board of directors and its management team.

Salary Accounts, eBill and, Eventually, TWINT

A Swiss banking license would let Revolut focus its offering more closely on local payments and on use as a primary bank account. The company lists Swiss IBANs, salary accounts, electronic bill payment via eBill and payment processing for merchants as possible features. Later on, it also plans to add private retirement savings through Pillar 3a and to integrate TWINT, the Swiss mobile payment service.

For customers, this could mean handling more of their everyday banking directly through Revolut, from receiving their salary to paying bills and saving for retirement. These features are an outlook on what Revolut might offer. The announcement includes no firm timeline for their launch.

Revolut already offers Swiss IBANs, currently using PostFinance infrastructure. According to Revolut’s explanation of its Swiss offering, the related balances are held by Lithuania-based Revolut Bank UAB. A Swiss bank of its own would change the regulatory and organizational basis of the business and support the further expansion of local services.

Deposit Protection Under Swiss Rules

The planned offering also includes deposit protection in line with Swiss standards. Swiss deposit insurance generally covers eligible deposits of up to 100,000 Swiss francs per customer per bank. Separate rules apply to Pillar 3a retirement savings, as the Swiss deposit insurance scheme esisuisse explains.

Which protection would apply to a specific Revolut product would depend on how that product is structured and which entity holds the account. Filing the license application does not yet change the protection of existing accounts.

Adding to Banking Licenses in Lithuania and France

Within the EU, Revolut already operates two banking entities. Alongside Revolut Bank UAB in Lithuania, the French Revolut Bank S.A. recently received its own full banking license. According to the company, the French entity will gradually serve customers in France and other Western European markets, while the Lithuanian bank remains a core part of the business in the rest of the European Economic Area. Revolut outlines this in its announcement on the French banking license.

The planned Swiss bank would add another locally regulated entity to this structure. The move is part of the company’s international expansion. Trending Topics has already reported on Revolut’s application for a US banking license. Revolut has since received conditional approval from the US banking regulator OCC, with further approvals still pending. In Colombia, Revolut recently obtained an operating license.

Data Leak Also Hits People in the Crypto Industry

At the same time, Revolut is dealing with a recent security incident in which sensitive customer data fell into the hands of unauthorized parties. As Trending Topics reported, attackers used an email address on a legitimate government domain to send fake information requests. Revolut then handed over personal and financial information. This may include copies of ID documents, verification selfies, account details and transaction histories, including Bitcoin transactions.

Those affected include people from the crypto industry, among them, by his own account, former Mt. Gox chief Mark Karpelès. Crypto investigator ZachXBT suspects that particularly wealthy users were deliberately targeted, though this has not been confirmed. The alleged perpetrators are reportedly pressuring Revolut by threatening to release more data.

In a statement to Trending Topics, Revolut said its systems and customer funds were not affected. The company describes the incident as external identity fraud carried out through manipulated government requests. It says affected individuals have been contacted and the relevant authorities notified.

Meanwhile, FINMA has yet to decide on Revolut’s Swiss expansion plans. Approval could bring Revolut closer to a full local banking offering. Which additional services customers will actually be able to use, and on what terms, will become clear once they launch.