How to open a payment system account in Revolut
Main characteristics and experience with the payment system
Cost
2750 USD
Beginning of cooperation
October, 2017
Last contact
September, 2023
Last update
November, 2023
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- Regulated by the FCA (UK);
- Work only with residents of the European Economic Area;
- There are many restrictions on types of activities and legal forms;
- Unique IBAN;
- Communication is in English
Cost
2750 USD
Beginning of cooperation
October, 2017
Last contact
September, 2023
Last update
November, 2023
General information and GSL rating
2015
Year of foundation
UK
Country of license issue
FCA
Regulator
GSL rating
Year of foundation
2015
History
Founded in 2015
Personnel
Communication is conducted in English
Payment system owners
The largest portion of Revolut is owned by co-founder and CEO Nik Storonsky, who has a 20% stake in the company. The next largest portion of share ownership is from Revolut's corporate investors, who own approximately 75% of the firm's stock
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Minimum requirements
No restrictions
Minimal turnover, €
0
Minimal balance, €
No
Do they work with offshore companies
No
Do they require a substance
Minimal turnover, €
No restrictions
Restrictions by jurisdiction
Work only with residents of the European Economic Area
Restrictions by activity
Yes
Tariffs and services
N/A
Array
N/A
Array
N/A
Account maintenance, €/month
—
Acquiring commission
Account opening procedure
Account opening terms
Case by case
Possibility of remote account opening
Yes
Business description
Detailed
Types of accounts
Current
Document requirements
Completed bank forms; copy of client's passport; proof of address; standard set of corporate documents
Possibility of remote account opening
It is possible to open an account and pass identification remotely
Types of accounts
Current
Chances to open an account
Predictable
Business description (text description)
Requirements to the description of the activity are standard: a story about the current state of the business and its formation, disclosure of the source of origin of funds, biography of the account beneficiary and contact information
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