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Revolut prepares for Brexit, moving customers to another entity

Revolut made an announcement about account migrations to cover a no trade-deal Brexit

Revolut prepares for Brexit, moving customers to another entity. Source: youtube.com

Revolut is going to start transferring its customers in Central and Eastern Europe to the new licensed European entity, the bank announced on its official website. The neobank plans to finish it before the end of the Brexit transition period in December 2020.

You might have seen some updates from us recently about account migrations to cover a no trade-deal Brexit. Our intention is to make sure that your experience isn’t interrupted, and that you can continue to use Revolut as normal.
Revolut

The challenger bank said it has been planning to make sure the users are unaffected by any Brexit outcome. They’ve set up a licensed European company which they will transfer all non-UK customers to in the case of a no trade-deal Brexit, and continue to offer the same Revolut services.

Revolut highlights it will ensure that the transfer won’t have a significant negative effect on clients’ rights under the terms and conditions. Anyone who’s unhappy about being transferred for whatever reason, can close their account for free in the app.

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