In brief
- Revolut closed the accounts of Ukrainian residents on February 22, 2026: the bank did not receive authorization from the NBU. Ukrainians in EEA countries remained clients, but the bank is asking them for a local tax number.
- There is no full replacement for a resident of Ukraine. Working options: ZEN.com (registration with a Ukrainian passport, multi-currency account, virtual cards), Paysera (EUR IBAN without a card), Payoneer for freelancers, Genome for euro transactions.
- Wise for residents of Ukraine only works for receiving transfers from abroad to Ukrainian cards.
- For Ukrainians in the EU with a local tax number, Revolut, N26, full Wise functionality, and local banks are available.
- Service terms change quickly: before moving your money, check whether the service accepts clients with your status.
For many Ukrainians, Revolut was the main gateway to European finance: transfers to brokerage accounts, subscriptions, and support for relatives abroad. Since February 2026, that gateway has closed for residents of Ukraine. Let’s look at which alternatives to Revolut can be used depending on where you live and what you need the account for.
- What happened to Revolut
- What is available instead of Revolut
- What to choose for your task
- You are a freelancer in Ukraine
- You need to send money to relatives abroad or receive it from them
- You need a European IBAN for subscriptions and payments in euros
- You live in the EU
- You need to fund an account with a foreign broker
- How to switch from Revolut: step by step
- Risks
- FAQ
- When did Revolut close Ukrainians’ accounts?
- Can I use Revolut if I live in the EU?
- What is the best alternative to Revolut for a resident of Ukraine?
- Does Wise work in Ukraine?
- Can a resident of Ukraine open an account with N26?
- How can you avoid losing money when moving from one service to another?
What happened to Revolut
- April 2025 — Revolut stopped registering new clients from Ukraine.
- December 22, 2025 — clients received emails about account closures within 60 days.
- February 22, 2026 — the accounts of Ukrainian residents were closed. The remaining balance can only be withdrawn to another bank.
The official reason was the requirements of Ukrainian legislation: Revolut operated under a Lithuanian license, while the NBU insisted on Ukrainian authorization. Ukrainians in EEA countries remained customers, but many were asked to confirm their tax residency and provide a local tax number. For those who did not do so, the bank restricted functionality, DOU wrote. More details are in our news article about how Revolut is closing Ukrainians’ accounts.
What is available instead of Revolut
| Service | For residents of Ukraine | For Ukrainians in the EU | What it offers | Limitations |
|---|---|---|---|---|
| ZEN.com | Registration with a Ukrainian passport | Yes | Multi-currency account, virtual cards, transfers to PrivatBank cards | Physical cards are not shipped to Ukraine; registration terms for residents of Ukraine have changed — check before opening |
| Paysera | Euro account with IBAN, no card | Yes, with a card if you have a residence permit | IBAN, SEPA transfers | Cards are available only to EU residents |
| Payoneer | Yes | Yes | Receiving payments from Upwork, Fiverr, Amazon, and other platforms | Withdrawals to Ukraine via SWIFT/IBAN, fee up to 2% |
| Genome | Yes | Yes | Euro account for transfers | EUR only, fees are higher than Revolut used to have |
| Wise | Only receiving transfers from abroad to Ukrainian cards | Full functionality | Multi-currency account, cards, transfers | Residents of Ukraine cannot send transfers or top up the account in hryvnia |
| PayPal | Limited | Yes | Transfers between accounts | In Ukraine, withdrawals are only to cards, with no balance storage |
| N26 | No | Yes | Full-fledged account with a German bank | You must reside in a supported country |
| Revolut | No | Yes, with a local tax number | Full functionality | Confirmed tax status in the EU is required |
Service data is based on the Texty review and DOU materials. Terms change, so check them on the service’s website before registering.
What to choose for your task
You are a freelancer in Ukraine
- Payoneer — if you are paid by marketplaces and platforms.
- Foreign currency account for a sole proprietor in a Ukrainian bank — if the client pays directly under a contract. More details — in the guide how a sole proprietor can receive payments from abroad.
You need to send money to relatives abroad or receive it from them
- ZEN.com — transfers to PrivatBank cards with low or zero fees on some plans. In April 2026, ZEN acquired Ukraine’s First Investment Bank and plans to develop transfers in Ukraine, according to Minfin.
- Wise — for receiving transfers from abroad to a Ukrainian card.
You need a European IBAN for subscriptions and payments in euros
- Paysera — an account with an IBAN can be opened remotely, but without a card for residents of Ukraine.
- ZEN.com — virtual cards for online payments.
You live in the EU
- Revolut remains available if you have a local tax number.
- N26 is a German bank with deposit protection up to €100,000. A step-by-step guide is available in how a Ukrainian can open an account with N26.
- Wise is a full-featured multi-currency account. If Wise has blocked your account, see how to get your money back and complete verification.
You need to fund an account with a foreign broker
Revolut used to be a popular bridge between a Ukrainian bank and a broker. Now the main legal route is a transfer from a foreign currency account at a Ukrainian bank within the NBU limits for investments abroad. Check the terms with your bank.
How to switch from Revolut: step by step
- Make a list of tasks. Subscriptions, transfers to family, payment for work, brokerage. Your choice of service depends on your tasks.
- Open an account with the new service before moving your money. Complete verification and make sure your status is accepted.
- Make a test transfer. A small amount will show the actual fees and processing times.
- Move subscriptions and recurring payments. Update your card details in the services where it is linked.
- Share your new banking details with clients and family. Do this before the old details stop working.
- Save your statements. Export your transaction history from the old service: you will need it for taxes and financial monitoring.
- Keep a backup option. Having two services is more reliable than depending on just one.
Risks
- Terms change without notice. Fintech services regularly review their policies for Ukrainian clients.
- Financial monitoring. Banks scrutinize transfers through foreign services more closely. Keep documents confirming the source of funds.
- Tax status in the EU. European banks and exchanges require a local tax number. We covered how to obtain one in the guide DAC8: the exchange requires a tax number.
- Freezes. Any service may freeze an account pending verification. Do not keep all your money in one place.
- Cryptocurrency as an alternative route. Transfers through crypto exchanges work, but banks often consider such transactions risky. If you use this route, read in advance what to do if Monobank blocked your card after P2P.
FAQ
When did Revolut close Ukrainians’ accounts?
Accounts of residents of Ukraine were closed on February 22, 2026. Clients received notifications on December 22, 2025, and had 60 days to withdraw their funds.
Can I use Revolut if I live in the EU?
Yes, Ukrainians in EEA countries remain Revolut customers. However, the bank may ask them to confirm their tax residency and provide a local tax identification number; otherwise, the account’s functionality may be restricted.
What is the best alternative to Revolut for a resident of Ukraine?
There is no full replacement. For personal transfers and online payments, ZEN.com is suitable; for a European IBAN without a card — Paysera; for freelancers on platforms — Payoneer; for euro transactions — Genome.
Does Wise work in Ukraine?
Limited. Residents of Ukraine can receive transfers from abroad to Ukrainian cards, but cannot send transfers from Ukraine or top up the account in hryvnia.
Can a resident of Ukraine open an account with N26?
No. N26 opens accounts for residents of the countries where it operates. This is available to Ukrainians living in the EU.
How can you avoid losing money when moving from one service to another?
Open and verify the new service before transferring money, make a test transfer, save statements from the old service, and keep a backup option in case of a freeze.
