Revolut registered as a bank in New Zealand, its seventh banking licence and the first digital bank in the country

The Reserve Bank of New Zealand has registered #Revolut as a bank. The company launches today as Revolut Bank New Zealand, the first fully digital bank in the country, with a commitment to invest NZ$120M in local operations over the next five years across technology, expansion and hiring.

The licence is Revolut’s seventh, and the fifth obtained in 2026; the group now operates as a licensed bank in 34 markets across the UK, the EEA, Australia and New Zealand, and counts over 80 million users worldwide. Revolut entered New Zealand in 2023; the local entity is led by CEO Ryan Brosnahan.

First product is an instant-access savings account at 3.50% a year for the first four months, interest paid daily. Existing customers migrate automatically, with eligible deposits covered by the Depositor Compensation Scheme up to NZ$100,000. The group is also advancing in Mexico, the UAE, Colombia and Peru, has a US bank charter application pending with the OCC and is acquiring Banco Cetelem in Argentina.

Links below in the first comment.