Revolut has introduced the official launch of its department in Italy, together with the launch of the Italian IBAN. Now the Italian prospects of the monetary tremendous app can use Revolut as their primary account.
Revolut: the official launch of the department in Italy and the provide of an Italian IBAN
Revolut, the worldwide monetary tremendous app, has formally introduced its department in Italy and the brand new chance of with the ability to provide its prospects the Italian IBAN.
In observe, the Italian department of Revolut Financial institution UAB has efficiently accomplished its preliminary exams, formally changing into an Italian financial institution. This Italian department of Revolut Financial institution UAB is supervised by the Financial institution of Italy and the European Central Financial institution.
Because of this success, Revolut can now provide Italian IBANs (which begin with IT) as a substitute of Lithuanian ones (which begin with LT).
The brand new prospects of the worldwide tremendous app will obtain their Italian IBAN immediately upon opening their new account. The entire almost 3 million Revolut prospects, however, might be ready emigrate to an Italian IBAN from January 2025.
In any case, buyer deposits will proceed to be lined as much as €100,000 by the Deposit Assure Fund of the Financial institution of Lithuania.
The Italian IBAN will facilitate each day transactions and using Revolut, prospects will be capable to obtain their wage and pay direct debits with out issues
Revolut and the launch of the Italian IBAN: the objective is to develop in Italy
In keeping with a research by Revolut, virtually half of Italians (46%) contemplate an area IBAN important when selecting a financial institution as their primary account. With the brand new service, Italian customers will be capable to entry world providers via the Italian and native IBAN.
On this regard, Nicola Vicino, not too long ago appointed Basic Supervisor of the Italian department, states:
“This step makes the department of Revolut Financial institution UAB in Italy a full-fledged financial institution within the nation. Providing a present account with an Italian IBAN will facilitate each day transactions and using Revolut, making it a lot simpler for purchasers to decide on us as their primary financial institution. Our Italian account can now be used to obtain salaries and pay payments or direct debits with none friction. Moreover, the department operates below the supervision of the Italian regulatory authority; whereas we’re proud to be a worldwide monetary super-app, we don’t overlook the significance of being regionally related and compliant in Italy as in each market through which we function”.
This innovation makes Revolut more and more interesting to the Italian public, which already appears to place it on the prime of assorted rankings.
Actually, solely in 2024, Revolut was essentially the most downloaded monetary app in Italy, in addition to the one financial institution among the many 20 most downloaded apps like Instagram, TikTok, Amazon, ChatGPT.
The milestone of fifty million prospects globally
Simply final month, Revolut was celebrating its new milestone, which is having reached 50 million prospects globally.
Revolut was launched in 2015, and it has expanded into as many as 38 markets, rising exponentially as essentially the most downloaded app. Actually, in 2024, it appears that evidently 10 million new prospects have registered on Revolut.
In any case, this objective of reaching 50 million prospects worldwide was set in March, when Revolut made a sequence of investments, launching new merchandise and promoting campaigns.