Revolut closes accounts of Ukrainians: what is known and what customers should do

23 December 03:00

The British neobank Revolut has warned all clients from Ukraine that it will be forced to close their accounts in 60 days, starting February 22, 2026. This is reported by Forbes-Ukraine, "Komersant Ukrainian" informs

Recently, users of the service began receiving notifications about account closures. They have to withdraw funds within 60 days and download statements.

After the 60-day period, access to accounts will be severely restricted. The company explained that after the closure:

customers will only be able to withdraw funds to an external bank account;
cash withdrawals from ATMs will not be available;
card payments and transfers to other users will be blocked;
internal transfers within Revolut will not work.

In fact, the account will be switched to the “withdrawal only” mode.

What will happen to the money on the account

Revolut’s notification states that:

all unused funds will be converted into euros after the account is closed;
after conversion, the money will be transferred to the user’s external bank account.

Therefore, clients are advised to add and check the details of the bank to which the transfer will be made in advance.

Cryptocurrencies and metals: what to do

Revolut paid special attention to investment instruments. Before the account closing date, users need to

independently sell all open positions in cryptocurrencies;
close investments in precious metals.

Failure to do so will result in Revolut forcibly selling the assets and converting the proceeds into fiat currency and transferring them to an external account.

Why Revolut closes accounts for Ukrainians

The company explicitly states that it is currently unable to provide financial services to residents of Ukraine. At the same time, the statement emphasizes:

“Although we are currently unable to provide our services to residents of Ukraine, we hope that this will be possible in the future. We will inform you if the situation changes.”

The reasons for this decision have not been officially detailed, but it is related to regulatory and legal restrictions.

As a reminder, on November 1, digital bank Revolut began closing accounts of Russian clients who do not have European citizenship or residence permits. Users received two notifications: first, the bank requested a copy of the residence permit, and then notified them of the account closure, after which it became impossible to provide the documents. Some Russian clients received assurances that the restrictions would not affect them at least until the end of December this year.

Revolut said that as a globally regulated financial institution, the bank is obliged to comply with the sanctions rules of the UN, EU, UK, US and other jurisdictions.