Revolut seeks Swiss banking licence, vows over CHF 150 million investment

Revolut filed an application with FINMA to obtain a Swiss banking licence, which it says will allow the fintech to offer a wider range of banking services to its more than 1.3 million Swiss users. The licence would enable features such as Swiss IBANs, salary accounts, eBill and merchant acquiring, and would place customers under the Swiss deposit guarantee scheme. Revolut also announced a commitment to invest over CHF 150 million in Switzerland over the next five years to fund product development and local employment.

Currently, Swiss customers are served through Revolut Bank UAB, a Lithuanian-licensed entity with a Swiss representative office. Chief Commercial Officer David Tirado called the application a pivotal moment for the firm’s European strategy, while General Manager Julian Biegmann said a Swiss licence would make Revolut a true Swiss bank. The request follows a recent ECB-approved full banking licence for Revolut Bank S.A. in France, highlighting the company’s broader push for locally regulated operations across Europe.