Revolut Has Applied For A US Bank Licence
Revolut has taken a major step toward expanding in the United States after filing for a national bank charter with U.S. regulators, but the move also raises an important question: can American citizens actually use Revolut yet?
The global fintech, which now serves more than 70 million customers worldwide, confirmed it has applied to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to establish Revolut Bank US, N.A.
If approved, the licence would allow Revolut to operate as a fully regulated bank across all 50 states, offer insured deposits and provide lending products such as credit cards and personal loans.
At the same time, Revolut has appointed Cetin Duransoy as its new U.S. CEO to lead the next phase of expansion. Duransoy previously served as U.S. CEO of Raisin and has held senior roles at Capital One and Visa. He replaces Sid Jajodia, who will remain with the company as Global Chief Banking Officer.
Revolut co-founder and CEO Nik Storonsky said the move is central to the company’s ambition to become a truly global banking platform.
“The United States is a key pillar of our global growth strategy,” Storonsky said. “Filing for a national bank charter is a major milestone toward our vision of building the world’s first truly global banking platform.”
The U.S. expansion is part of a broader international push. Revolut now operates in 40 markets and recently launched banking operations in Mexico, secured a payments licence in India and received an in-principle licence in the UAE.
The company was valued at $75 billion following a secondary share sale in November 2025, making it one of the world’s most valuable private fintech firms.
Can Americans Use Revolut Now?
Yes, but with limitations. Revolut offers services to U.S. customers through a partnership banking model, meaning Americans can open accounts and use features such as spending cards, international transfers and currency exchange.
However, Revolut does not yet operate as a licensed bank in the U.S., which limits the range of services it can offer compared with its European banking operations.
If the new charter is approved, Revolut would gain several advantages, including direct access to payment systems such as ACH and Fedwire, the ability to offer FDIC-insured deposits directly, and the ability to provide lending products.
For now, Americans can use Revolut in a limited capacity, but if the banking licence is granted, the company could soon become a much bigger challenger to traditional U.S. banks.
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