On December 22, Ukrainian Revolut users received notices: all accounts will be closed on February 22, 2026. Clients have 60 days to withdraw their funds. The reason is strict Ukrainian regulatory requirements, in particular those imposed by the National Bank of Ukraine.
Revolut is a British neobank valued at $75 billion, known for its multi-currency cards and simplified investing services. The company tried to operate in Ukraine, but the use of a Lithuanian banking license instead of a local one became an obstacle. The NBU insisted on a Ukrainian license or official branch, but Revolut did not apply for one.
After Russia's invasion, Revolut made it easier for Ukrainian refugees to open accounts and helped collect over €10 million in aid for Ukraine. However, in April 2025, Revolut stopped registering new clients, and in December announced a full market exit.
Strict currency controls in Ukraine complicate fintech business. Individuals can buy currency online for up to 50,000 UAH per month, and business dividend transfers are also limited. Revolut’s services, which are based on free movement of capital, do not fit this model.
After February 22, 2026, users must sell cryptocurrency and metals themselves; remaining balances will be automatically converted to euros and transferred to designated accounts. Account statements should be downloaded in advance as they will become unavailable after closure.
The Revolut exit highlights the need to liberalize Ukraine’s currency market and emphasizes the importance of integrating with the European financial infrastructure (SEPA), as Moldova has done, so international fintechs can operate more easily in the country.
Ukrainians living in the EU with Revolut accounts registered there are not affected by these changes. For Ukrainian residents, access to Revolut will end.
