Revolut pronounces the launch of the Italian department of Revolut Bank Uab and the Italian IBANS. The firm now presents Italian IBANS to all new prospects and can supply current prospects the choice emigrate to them ranging from January 2025. The international monetary superapp just lately celebrated 50 million prospects globally and goals to achieve three million in Italy firstly of subsequent 12 months.
What modifications
The Italian department of Revolut has been operational since 18 November, after a protracted preliminary testing interval, now concluded, in settlement with the Bank of Italy. From this week, all new Revolut prospects who open a present account in Italy will obtain an Italian Iban – a stripe that begins with IT – relatively than a Lithuanian one, which begins with LT, a element that unlocks a sequence of options, beginning with crediting of the wage. All accounts will probably be managed by Revolut’s Italian department and overseen by the native regulator, the Bank of Italy, and the European Central Bank. Customer deposits will proceed to be lined as much as 100,000 euros by the Deposit Guarantee Fund of the Bank of Lithuania.
«This step makes the Revolut Bank department in Italy a full-fledged financial institution within the nation – feedback Nicola Vicino, just lately appointed common supervisor of the Italian department -. Offering a present account with an Italian IBAN will facilitate every day transactions and the usage of Revolut, making it a lot simpler for patrons to decide on us as their primary financial institution. Our Italian account can now be used to obtain your wage and pay payments or direct debits with none friction. Furthermore, the department operates underneath the supervision of the Italian regulatory authority.”
According to a study by Revolut, almost half of Italians (46%) consider a local IBAN essential when choosing a bank as their main account. The addition of the Italian Iban to the increasingly complete range of financial products offered by the superapp makes the superapp increasingly compliant with the strategy of presenting itself as the first bank of reference for users.
The other news
The account with native IBAN is just not the one innovation that Revolut has introduced this 12 months. The firm has additionally just lately began providing private loans, with a versatile product with no extra prices or commissions, nor investigation prices, with different credit score merchandise to observe in 2025.
https://www.ilsole24ore.com/art/revolut-diventa-banca-italiana-ora-ha-anche-l-iban-nazionale-AG64nanB