Revolut Expands in Portugal with Local IBANs and Dedicated Branch Launch

Global fintech super app Revolut has officially launched Portuguese IBANs for all its customers residing in Portugal, marking a significant milestone in its European expansion strategy. The launch coincides with the opening of Revolut’s Portuguese branch, enabling over two million users in the country to transition to local banking identifiers and enjoy a more seamless financial experience.

Key Highlights

• Revolut introduces Portuguese IBANs for more than 2 million users in Portugal.
• Customers can now receive salaries, make Direct Debit payments, and pay bills without cross-border paperwork.
• The launch follows Revolut’s plan to establish a Portuguese branch as part of its broader EU strategy.
• ATM rollout across Lisbon and Porto expected in 2026.
• Fee-free withdrawals and instant card issuance to be available for customers.

Bringing Local Banking Convenience to Portugal

With the introduction of PT IBANs, Revolut customers in Portugal can now receive their salaries directly into their accounts, set up automatic bill payments via Direct Debit, and make seamless utility payments — all without the administrative hurdles associated with non-PT IBANs.

The new IBAN structure aligns Revolut with Portuguese financial regulations and eliminates compatibility issues users previously faced when integrating Revolut accounts with local services or institutions.

Migration Process and Eligibility

To be eligible, users must list Portugal as their country of residence. Revolut will begin contacting customers via email to initiate the migration.

Upon receiving an invitation, customers will be required to:

• Provide consent for migration.
• Submit documents verifying identity, address, occupation, and employer information if requested.
• Accept new terms and conditions specific to the Portuguese branch.

For joint accounts, both holders will need to complete these verification steps before migration can be finalized.

Revolut’s Next Step: ATMs Across Lisbon and Porto

Revolut’s Portuguese expansion doesn’t stop with local IBANs. The company plans to deploy ATMs across the country in 2026, focusing initially on Lisbon and Porto, where Revolut has the highest user concentration and tourist activity.

These ATMs will offer:

• Fee-free withdrawals for all Revolut customers, regardless of nationality.
• The ability to withdraw funds in different currencies at real-time app exchange rates, without additional fees.
• An instant physical card issuance feature, making cash access faster and more convenient.

Building Locally, Operating Globally

This move aligns with Revolut’s broader mission to localize its operations while maintaining a unified global platform. The fintech giant aims to offer users across markets a truly borderless digital banking experience — one that adapts to regional needs and regulatory standards.

Revolut continues to strengthen its presence across Europe, combining innovation with compliance. By introducing local IBANs, the company eliminates one of the last barriers for Portuguese users, making its financial ecosystem more inclusive and efficient.

A Strategic Move for the Future

This local expansion is part of Revolut’s ambition to transform traditional banking through digital-first, user-centric solutions. The launch of the Portuguese branch demonstrates the company’s commitment to growth, regulatory cooperation, and customer satisfaction.

As the fintech prepares for its next phase — including localized ATMs and service enhancements — it’s clear that Revolut is positioning itself as not just a digital banking alternative, but a comprehensive financial ecosystem for modern users.

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