What does the new APRA licence mean for Revolut?

Securing an unrestricted licence from APRA allows Revolut to operate as a full bank in Australia. Revolut stated this enables the transition of customer balances from stored value accounts into government-backed deposit accounts.

How much is Revolut planning to invest in Australia?

Revolut plans to invest almost $400 million into the Australian market over the next five years. This investment follows global revenue growth of 46% to US$6 billion for Revolut in fiscal 2025.

What products will Revolut offer to Australian customers?

Revolut plans to offer instant-access savings accounts paying up to 5.05% and credit cards with no fees. Under the Australian Financial Claims Scheme, Revolut confirmed customer deposits will be protected up to $250,000.

What is the global regulatory strategy for Revolut?

Revolut previously secured a UK banking licence in March following regulatory approvals. Revolut has also submitted a US banking licence application to operate across all 50 states.

Why is Revolut expanding its Australian banking operations?

Revolut is expanding to transition its existing Australian base of one million app users into full banking customers. The company stated that becoming a licensed bank in Australia provides a launchpad to deliver a broader suite of financial services.

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Revolut secures Australian banking licence for $400M

Written by Brie CarterPublished Jul 21, 2026, 4:57 AM

Revolut secures an unrestricted Australian banking licence from APRA.
The fintech plans to invest almost $400 million locally over five years.
The approval allows Revolut to offer deposit accounts, savings rates, and credit cards.

Revolut secured an unrestricted Australian banking licence, committing to a $400 million investment over five years.

The expansion follows global revenue growth of 46% to US$6 billion in fiscal 2025.

"This licence enables us to expand into a broader suite of products," said Revolut Bank Australia CEO Matt Baxby.

The company stated that deposit accounts will receive government protection up to $250,000 under the Financial Claims Scheme.

Revolut previously secured a UK banking licence in March following regulatory approvals.

The company has also submitted a US banking licence application to expand across all 50 states.