Revolut Expands to Ukraine: New Services, Clear Sky Card, and Future Plans

UK-based fintech company Revolut officially launched its services in Ukraine on February 11, reports PaySpace Magazine. Operating through Revolut Bank UAB in Lithuania, which is regulated by the European Central Bank and the Bank of Lithuania, the digital banking platform aims to provide Ukrainian users with a seamless and modern banking experience.

Key Features for Ukrainian Users

Revolut’s new services allow Ukrainians to:

✅ Open European accounts

✅ Make fee-free international transfers in 30+ currencies

✅ Access free virtual cards usable in 150+ countries

✅ Trade cryptocurrencies and explore alternative financial services

Additionally, Revolut introduced the exclusive “Clear Sky” debit card, free for Ukrainian citizens and available via Nova Poshta delivery (with standard European delivery fees). UK and EEA customers can also obtain this card by donating £5 (or equivalent) to the UN Refugee Agency (UNHCR)—with Revolut matching donations up to £200,000.

Onboarding and Transactions

New users can verify accounts through:📲 The Diia digital ID app📸 A passport photo and video verification

However, individuals not registered in Diia cannot currently access Revolut’s services.

💰 Funding Options:

• Deposits are currently accepted only from USD and EUR cards

• Future support for UAH (Ukrainian hryvnia) cards is expected

• Users can transfer funds from Revolut cards to Ukrainian bank cards, with automatic currency conversion

• Ukrainians working abroad can receive salaries via SWIFT payments

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Future Plans & Regulatory Considerations

Revolut is actively seeking a Ukrainian banking license from the National Bank of Ukraine (NBU). If granted, this license will allow the fintech firm to:🏦 Offer UAH-based banking services such as deposits and loans💳 Support local bank cards directly

However, obtaining the license will introduce new regulatory constraints. Currently, Revolut operates under European banking rules, allowing more flexible foreign currency transfers. Once licensed, it may have to comply with Ukrainian regulations, such as the 100,000 UAH monthly limit on foreign currency transactions.

Strong Demand from Ukrainian Users

According to Dmytro Strelchuk, Revolut’s Head of New Market Launch, the company aims to secure its Ukrainian banking license by year-end. So far:📈 Over 450,000 Ukrainian residents have joined Revolut📊 100,000 use the app monthly📍 Ukraine had the largest waitlist for beta testing globally

Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko (a Ukrainian entrepreneur), Revolut serves 50 million users globally, including 700,000 Ukrainians in the UK and EU.

As Revolut deepens its presence in Ukraine, it is poised to become a key financial partner for Ukrainians at home and abroad.