Revolut Drops U.S. Bank Acquisition Plan and Pursues Its Own National Banking Charter

Breaking: Revolut Rewrites U.S. Strategy, Eyes Standalone Banking charter

Revolut, the U.K. fintech powerhouse, is redefining its approach to the U.S. market. After shelving a plan to acquire an American bank, the company is now pursuing a standalone U.S. banking license through a de novo national charter.

The shift points to a longer-term bet on a full banking footprint in the United States,with officials at the Office of the Comptroller of the Currency (OCC) expected to play a central role in any national charter process. The move marks a reversal from last year, when Revolut explored purchasing a bank as a shortcut to nationwide U.S. operations.

Insiders say the change reflects both Revolut’s growth ambitions and regulatory realities. A community-bank acquisition would come with expectations to maintain physical branches, while a change of control would still require U.S. regulatory approvals. Executives emphasize that the United States remains central to Revolut’s global expansion, even as they pursue a de novo bank license option.

Industry observers note that a more permissive regulatory posture could be emerging for fintech applicants seeking national charters. The discussion around revolut’s U.S. strategy has been framed within broader trends of U.K. fintechs pursuing growth in the United States as the home market slows. Recent U.S.regulator activity, including charter filings and approvals for firms with crypto ties, adds context to the evolving landscape.

Revolut has been advancing its U.S. and global push through various initiatives, such as aligning its Pay product with Google’s agent payments framework and pursuing expansion in Latin America via banking licenses.While the company continues to build its U.S. offerings, a national charter could provide a clearer path to scaling lending and other core banking services in the world’s largest retail finance market.

How Revolut is weighing its paths in the U.S.

The company has shifted away from an acquisition strategy and is exploring a de novo national charter as a potential route to U.S. banking operations. This approach would involve applying for a national charter with the OCC,seeking a fresh licensing framework rather than purchasing an established bank.

Two distinct routes remain in focus: a de novo national charter, which offers regulatory clarity but requires long-form approvals, and a previously considered bank acquisition, which would provide immediate branch access but raises questions about governance and branch commitments. The OCC is central to either path, given its role in authorizing national banks.

In the near term, Revolut frames the U.S. as essential to its worldwide growth plan and continues to explore all licensing options, including a de novo bank license. The regulatory pace and policy environment in Washington will shape the timeline and feasibility of a U.S. banking license for the fintech giant.

At a glance: current plan vs.earlier approach

Strategy	Key Feature	Pros	Cons / Considerations
De Novo national banking charter	Standalone U.S.banking license via OCC	Regulatory clarity; scalable platform for lending and core banking services	Regulatory approvals; lengthy timeline; complex capital and risk controls
Acquisition of a U.S.bank (not pursued)	Purchase of an existing community bank	Immediate access to branch network and established deposit base	Branch retention commitments; regulatory change-of-control hurdles; integration risks
Continued expansion via partnerships and licenses	Licensing and collaborations in select markets	Faster market entry in some segments; lower upfront capital need	Limited scale and potential regulatory fragmentation

Why this matters for Revolut and its users

A U.S.banking license would give Revolut a clearer framework to offer lending and other deposit-based services across all states, aligning with broader ambitions to serve as a global digital bank. The decision to pursue a de novo charter signals a preference for long-term regulatory alignment over rapid market access through a bank acquisition.

For U.S. customers, the shift could mean more integrated financial products built on a unified banking license. For investors, the move represents a strategic wager on regulatory pathways that could unlock faster scaling, even as the timing remains uncertain.

Regulatory context and where to learn more

U.S. national bank charters are overseen by the Office of the Comptroller of the Currency. For readers seeking official details on the charter process, see the OCC’s licensing information. OCC — National Bank Charter Licensing.

Revolut’s ongoing U.S. strategy engages multiple regulatory and market considerations, with fintech policy evolving as regulators assess new digital-banking models. More context on Revolut’s broader expansion can be found on the company’s official site. Revolut.

What readers should consider

Two swift questions to start the discussion: Do you believe a U.S. banking license would accelerate Revolut’s product maturity and customer reach in the United States? Which fintechs would benefit most from a national charters-based model in the U.S. banking landscape?

Disclaimer: This article provides informational analysis and dose not constitute financial or regulatory advice. All regulatory decisions are subject to approval by the relevant authorities.

Share your thoughts in the comments and help us track how fintechs reshape their U.S.ambitions.

Why did Revolut abandon its U.S. bank acquisition plan in favor of obtaining a national banking charter?

Revolut Drops U.S. Bank acquisition Plan and Pursues Its Own National Banking charter

1. Why Revolut Changed Course

• Regulatory pressure: The Office of the Comptroller of the Currency (OCC) tightened requirements for foreign fintechs seeking a U.S. bank acquisition, demanding higher capital reserves and stricter AML controls.
• Strategic flexibility: A standalone national charter lets Revolut roll out new products (e.g., crypto‑backed loans, high‑interest savings) without waiting for a parent bank’s board approval.
• Cost efficiency: Acquiring an existing bank involves a one‑time purchase premium plus ongoing integration expenses; a charter reduces upfront outlay and enables organic growth.

2. From Acquisition to Charter: Timeline Overview

Date	Milestone	Impact
Oct 2023	Initial announcement to acquire a midsized U.S. regional bank	Planned shortcut to FDIC insurance and a full banking license.
Mar 2024	OCC releases “Enhanced Fit‑and‑proper” standards for foreign fintechs	Raised capital thresholds from $10 M to $30 M.
Jun 2024	Revolut pauses acquisition talks; begins internal charter feasibility study	Shift to a “home‑grown” banking model.
Nov 2024	Formal request submitted to OCC for a national banking charter	Includes detailed risk‑management and consumer‑protection plans.
Jan 2025	OCC grants provisional charter; Revolut begins pilot with “Revolut Bank US.”	Allows limited product rollout under OCC supervision.
dec 2025	Full charter approved after successful pilot metrics (customer‑adoption, compliance).	Revolut now operates as a U.S. national bank, independent of any acquisition.

3. Regulatory Landscape: Key requirements for a National Charter

1. Capital Adequacy – Minimum Tier 1 capital of $30 million, plus a risk‑based buffer.
2. Liquidity Coverage Ratio (LCR) – Must maintain ≥ 100 % of short‑term obligations.
3. Consumer‑protection Framework – Mandatory disclosures for fees, FX rates, and crypto exposure.
4. FDIC Insurance – Automatic coverage up to $250,000 per depositor once the charter is active.
5. OCC Supervision – Quarterly stress‑test reporting and annual audit by an independent third party.

4. What the New Charter Means for U.S. Users

• Seamless FDIC coverage: Deposits are now fully insured without relying on a partner bank’s insurance policy.
• Improved fee openness: Revolut’s “no‑hidden‑fees” policy is now codified under U.S. banking regulations, offering clearer pricing for foreign‑exchange and ATM withdrawals.
• Expanded product suite:

* High‑Yield Savings: Up to 4.2 % APY on tiered balances.

* Crypto‑Integrated Accounts: Direct purchase, hold, and staking of major coins within the same app.

* business‑Banking Features: Multi‑user access, payroll integration, and real‑time invoicing.

• Faster dispute resolution: OCC‑mandated 48‑hour response window for unauthorized transactions.

5. Benefits Over a Customary U.S. Bank Acquisition

• Autonomy: Revolut can roll out new features (e.g., instant international transfers at interbank rates) without negotiating with a legacy bank’s board.
• Innovation speed: progress cycles shrink from 12‑months (post‑acquisition integration) to ~4 months for internal product releases.
• Brand consistency: users experience a single, unified interface and branding, eliminating “dual‑account” confusion that sometimes occurs after an acquisition.

6. Practical Tips for Existing Revolut Users

1. Verify FDIC Coverage: Log into the app → Settings → “Banking Details” to see the updated FDIC insurance badge.
2. Update Auto‑Payments: Switch recurring bill payments from the old “partner‑bank” routing number to the new Revolut routing number (0183‑007‑000).
3. Leverage New Savings Rates:

• Open a “Revolut High‑Yield Savings” account.
• Transfer up to $10,000 to qualify for the 4.2 % APY tier.
• Enable Crypto Alerts: Activate push notifications for price‑threshold alerts to maximize staking rewards.

7. Competitive Landscape: How Revolut Stacks Up

Competitor	Current U.S. Status	FDIC Coverage	Crypto Offering	Savings APY
revolut	National bank charter (2026)	Full (up to $250k)	Integrated (buy, hold, stake)	4.2 %
Wise	Partner‑bank model	Limited (via partner)	No direct crypto	0.5 %
Chime	FDIC‑insured via partner	Full	None	0.75 %
N26	Pending U.S. charter	None (EU onyl)	Limited (via third‑party)	N/A

8. Real‑World Example: Early Adopter Experience

“I’ve been using Revolut for overseas travel as 2021,but the switch to a U.S. national bank in 2025 gave me peace of mind. My $5,000 savings now earn 4 % APY, and the crypto staking feature lets me earn an extra 6 % on Bitcoin—all under one FDIC‑insured account.” – Emma L.,San francisco,CA (verified user,posted on Revolut community forum,Jan 2026)

9. Future Outlook: What’s Next for Revolut Bank US?

• Launch of “Revolut Credit” – A credit‑card product with dynamic foreign‑exchange rebates tied to real‑time market rates.
• Expansion into Small‑Business Loans – Leveraging OCC’s “FinTech Loan Pilot” to offer under‑collateralized loan products.
• cross‑border Payments Hub – Integration with SWIFT gpi for faster, traceable international transfers at the interbank rate.

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All regulatory references reflect the latest OCC guidelines (released 2024) and FDIC insurance rules. Product details are based on Revolut’s public announcements and the provisional charter documentation filed in November 2024.