Revolut offers payment services to Ukrainian refugees

UK FinTech Revolut has announced it will offer payment services to all refugees, regardless of nationality, fleeing Ukraine following the Russian invasion.

The company said it was easing many of the requirements needed to set up an account to make it easier for those fleeing the war, as well as a number of FX and top up fees.

Setting up an e-money account in the EEA typically requires proof of a right to reside in Europe.

But Revolut said that with many of those displaced by the invasion unable to provide this due to a lack of documentation, it has eased this requirement to "ensure as many refugees as possible can set up an account quickly and access their funds".

“With the war in Ukraine displacing more than two million people already, we felt it was imperative to help those most affected by providing a service that gives them easy, quick access to their money,” said Vlad Yatsenko, co-founder and chief technology officer of Revolut Bank transfers are often slow and expensive so we hope this Revolut initiative provides a simpler alternative. I am immensely proud to be part of a British fintech that can quickly help the Ukrainian people in their time of need.”

Two weeks ago the company's Russian-born chief executive Nik Storonsky publicly condemned Russia's invasion of Ukraine.

In a blog post he said he wanted to make clear what he had felt privately since the beginning of the invasion, that "war is never the answer", describing the attacks on Ukraine as "wrong and totally abhorrent".

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.