Fintech bank Revolut has begun the process of closing accounts for some users from Ukraine due to updated legal requirements and internal regulatory rules. This is being reported by the bank’s clients who received corresponding notifications in the app.
According to information from Revolut emails, users are being given up to 60 days to withdraw their funds. After that period, the accounts will be closed, and clients will lose the ability to top up their balance, pay for purchases by card, make transfers, and withdraw cash from ATMs. All active features will be disabled gradually.
The reason for this decision is said to be AML/KYC regulatory requirements and restrictions related to serving clients without confirmed residency in supported countries. Revolut emphasizes that it is not a bank in Ukraine and operates exclusively under EU licenses and a UK license.
At the same time, the account closures are not mass in nature and affect only certain categories of clients — in particular, those who have been using an account from an unsupported jurisdiction for a long time. Users are advised to withdraw their funds in advance and, if necessary, contact support to clarify their account status.
Earlier, Revolut suspended registration for new users from Ukraine
