Revolut has secured registration as a bank in New Zealand, becoming the country’s first digital bank following approval from the Reserve Bank of New Zealand. The fintech firm, which operates across 34 markets globally, launched Revolut Bank New Zealand on 3 November 2026 and committed to investing NZ$120 million into local operations over the next five years.
- Seventh bank licence: Revolut’s registration marks its seventh banking licence and fifth gained in 2026 alone
- Introductory savings rate: New retail customers receive 3.50% p.a. variable for the first four months on Instant Access Savings accounts with daily interest and zero withdrawal penalties
- Deposit protection: Eligible deposits up to NZ$100,000 protected by New Zealand Depositor Compensation Scheme
- Customer base: Revolut operates globally with over 80 million customers
The registration unlocks access to New Zealand’s banking market for the London-based fintech. Existing Revolut customers in the country will transition seamlessly to the new bank entity with automatic deposit protection; the process requires no action from users. The company plans to roll out banking products immediately, beginning with Instant Access Savings accounts.
Launching our New Zealand bank marks another significant step in our mission to build the world’s first truly global bank. Securing our seventh bank licence and our fifth this year alone, is a testament to our business model and our team. We are confident our offering will bring true competition to the New Zealand banking sector.
– Nik Storonsky, Founder and CEO, Revolut
Becoming a bank in New Zealand marks a defining moment in our journey, achieved through a relentless focus on delivering a better financial experience for Kiwis. Since launching here in 2023, we have experienced massive growth. It’s clear the market is primed for disruption, and this licence is the launchpad for our next chapter to build the most seamless, secure, and customer-first banking experience in New Zealand.
– Ryan Brosnahan, CEO, Revolut Bank New Zealand
Revolut continues accelerating its global footprint. Recent regulatory advances include new licences and authorisations in the United Arab Emirates, Mexico, Colombia, and Peru; a pending US bank charter application with the OCC; and approval to acquire Banco Cetelem in Argentina. The company has now established banking operations in 34 markets across the UK, Europe, Australia, and the Asia-Pacific region.
Nik Storonsky, CEO & Founder at Revolut. Source: LinkedIn
