Revolut secures full banking license in France

Revolut Bank S.A. has officially received a full banking license in France following approval from the ACPR and the European Central Bank (ECB). This decision allows the fintech company to expand its services in the French market, including products such as mortgages and equity savings accounts (PEA) that were previously restricted to traditional banks.

Revolut plans to use France as a starting point for a broader European rollout. Subsequent phases are expected to include Germany, Ireland, Italy, Portugal, and Spain. The company has committed to investing over €1 billion in the French market and intends to open a new European headquarters in Paris by 2027.

The transition to a French license may impact how customer deposits are protected. Currently, many European customers, including those in Spain, are covered by Lithuanian deposit insurance. As Revolut rolls out its new licenses, deposits may shift from Lithuanian coverage to the respective national guarantee schemes, such as France’s Fonds de garantie des dépôts et de résolution (FGDR).