Revolut has responded to the claims made by the National Bank of Ukraine (NBU).

The British neobank Revolut has previously informed the Ukrainian regulator about its plans in Ukraine and aims to obtain a Ukrainian banking license while closely cooperating with the NBU.

This is mentioned in a statement from Revolut, which was received by LIGA.net.

Recently, the National Bank published a statement noting that Revolut Bank UAB, registered in Lithuania, through which Revolut launched financial services for residents of Ukraine in February, has not received any licenses or permissions from the NBU, has not submitted any relevant applications, and is not undergoing the licensing process.

Moreover, the National Bank emphasized that the current legislative norms regarding the protection of consumer rights in financial services and the deposit guarantee system do not apply to Revolut clients.

“Revolut prioritizes compliance with local regulatory requirements and has conducted a thorough assessment before providing services to residents of Ukraine on a cross-border basis,” the neobank stated.

Services for Ukrainian clients are provided through Revolut Bank UAB, which is based in Lithuania and is supervised by the European Central Bank and the Bank of Lithuania.

“We only offer accounts in the EU and do not plan to open Ukrainian accounts without additional permission,” Revolut emphasizes, adding that they already serve hundreds of thousands of Ukrainian clients in the European Union and beyond.

Background. Earlier, Mind reported that the NBU calls for licensing the company Revolut in Ukraine. The NBU stresses that all market participants must operate “within the legislative and regulatory requirements.”