On Wednesday, the British neobank Revolut announced that it is applying for a Swiss bank license. The application will now be reviewed by the Swiss financial supervisory authority Finma.
Having a Swiss bank license would enable Revolut to offer a broad range of everyday banking services to Swiss consumers. Revolut aims to offer its customers in Switzerland bank accounts for receiving salaries, with the benefits of Swiss bank depositor protection, Swiss IBANs, eBills, and likely also pillar 3a solutions and Twint. Revolut has also mentioned payment processing for merchants as a possible new service.
Just how the exact product lineup might look if Revolut received a Swiss bank license is not yet known.
Revolut is already active in the Swiss market. Currently, the services it provides to its Swiss customers are managed by the Revolut Bank UAB – a Revolut subsidiary with a Lithuanian bank license. Revolut claims to have 1.3 million customers in Switzerland.
How does Revolut compare to other neobanks and conventional Swiss banks?
For many years now, moneyland.ch has compared neobanks that offer their services to Swiss customers.
Compared to other neobanks, Revolut is relatively expensive. In the Swiss Neobank Study 2026, Revolut sits in fifth place behind Bank WIR, Wise, Alpian, and Neon, in terms of costs. The total cost of using Revolut is 78 francs higher than that of the cheapest bank.
Compared to the largest Swiss banks though, Revolut is significantly cheaper. Of the conventional banks included in the analysis, only Bank WIR has lower fees and charges than Revolut.
Conclusion by moneyland.ch personal finance expert Ralf Beyeler
Revolut’s application for a Swiss bank license is a direct assault on established Swiss banks. The British neobank has been available in Switzerland for many years now. But the bulk of its claimed 1.3 million Swiss customers likely do not use their accounts, or only use Revolut for payments in foreign countries. A Swiss bank license would enable Revolut to get more out of its Swiss customer base.
Ein guter Schachzug ist die beantragte Lizenz auch deshalb, weil Revolut bislang ihren Kundinnen und Kunden in der Schweiz nur ein eingeschränktes Angebot machen kann. So ist es in der Praxis nicht möglich, dass Arbeitgeber, Ausgleichskassen, Pensionskassen oder die Steuerverwaltung Geld auf ein Revolut-Konto überweisen können. Revolut verlangt ein spezielles Format, dass die Systeme der Absender nicht unterstützen.
Another reason why applying for a Swiss bank license is a clever move is that up until now, Revolut has only been able to offer its Swiss customers a limited range of services. For example, receiving incoming bank transfers from Swiss employers, social compensation offices, pension funds, or tax offices into a Revolut account is difficult or impossible. The reason is that Revolut’s transfer format is not supported by payment management systems.
What is more, many Swiss consumers prefer to keep their money at banks that are covered by Swiss bank depositor protection. Many consumers also prefer to use a licensed Swiss bank for their financial transactions as well. Revolut will only be able to meet these needs once it acquires a Swiss bank license.
Deal of the Day 
