Revolut secures UK PRA approval to launch FSCS-protected bank for 13 million customers

Revolut has obtained full UK banking approval from the Prudential Regulation Authority, clearing Revolut Bank UK Ltd to operate with FSCS-protected deposits of up to £85,000 per eligible customer. The firm will introduce new current accounts in stages over the coming weeks, while existing users remain on the current setup during a migration expected to last several months.