Revolut introduces Italian IBAN

This move marks a significant milestone as Revolut Bank UAB’s Italian branch transitions into a locally recognized bank under the supervision of the Bank of Italy and the European Central Bank.

The new Italian IBANs (starting with 'IT') will be issued immediately to new customers opening accounts in Italy, replacing the Lithuanian IBANs ('LT') previously used. Existing customers, nearly 3 million in Italy, can migrate to the Italian IBAN starting January 2025.

The addition of an Italian IBAN allows Revolut customers to receive salaries, pay direct debits, and manage daily transactions without complications, enhancing the app’s usability as a primary bank account. According to Revolut's research, nearly half of Italians (46%) consider a local IBAN essential when selecting a main account.

Representatives of Revolut’s Italian branch emphasized the importance of this step: the Italian IBAN aligns Revolut’s global services with local relevance, facilitating smoother financial operations for Italian users.

Aiming to expand further

This enhancement reflects Revolut's broader strategy to grow its presence in Italy, a market where it is already highly popular. In 2024, Revolut was the most downloaded financial app in Italy, outpacing mainstream platforms like Instagram and Amazon.

Globally, Revolut has reached 50 million customers across 38 markets, with 10 million new users added in 2024 alone. The introduction of Italian IBANs is a key part of the company’s efforts to align global innovation with local needs.