Revolut launches in Austria
UK digital banking unicorn Revolut has started operating as a bank in Austria, marking the 13th country in which it is launching as a licensed specialized bank.
Revolut Bank secured a specialized banking license from the Bank of Lithuania in 2018, which allows it to accept deposits and offer consumer credits. Since then, the company has started allowing existing customers in more than 10 European countries to switch to Revolut Bank, taking advantage of European passporting rules to onboard customers from Poland, Lithuania, Bulgaria, Cyprus, Croatia, Estonia, Greece, Latvia, Malta, Romania, Slovakia, Slovenia and, most recently, Austria.
