Revolut Initiates Banking Services in Estonia

Still, the company has been granted a European banking licence does not yet offer a term deposit service. Revolut has submitted a European licence for banking services in Estonia on Monday. At present, the company has 40,000 clients in Estonia, Revolut representatives said in a press release.

In addition, customers can store their funds in a bank account and convert the currency in a mobile application. At present, Revolut does not offer a fixed-term contribution but is considering the possibility of providing this banking service, Ingrid Downaravciene ERR said. Revolut Bank CEO Virgilius Mirkes noted that new products and services would be launched in Estonia shortly.

Last year Revolut started banking activities in Poland and Lithuania, and last week in Latvia. Revolut Ltd – is a British financial technology company that offers banking services including debit card, currency exchange, stock exchange, cryptocurrency exchange and peer-to-peer payments. The company began operations in 2015.

Revolut is famous for exchanging money with no hidden fees, as well as buying cryptocurrency and spending money with detailed analytics. There are more than 15 million customers worldwide.

Source: https://news.err.ee/

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