Revolution increasingly close to being a “normal” bank in Portugal – but will have deposits with debited interest daily in the account, immediate and protected access… in Lithuania.
“Finally!”, Sigh of relief from revolution customers this Thursday, after learning that the company finally started the migration of its Portuguese customers to the new branch in Portugal, which will allow the availability of a IBAN Portuguese ‘PT50’the integration of revolution cards with the MB Way and the arrival at multibancos em 2026.
The process starts for the almost 1.9 million customers in Portugal and can extend to the month and a half, guarantees the leader of Finntech’s national branch to the newspaper
Immediate access deposits
Revolution has plans to advance with time deposits with a variable remuneration between 1.5% and 2.25% per yearwhich will depend on the customer’s plan (free or paid).
But If the customer withdraws the money, do not lose interestguarantees Rúben Germano, leader of the national operation, to.
Deposits, mobilizable, “will allow daily interest [debitados diariamente na conta] And at any time the customer can withdraw money Without being penalized, ”promises the director-general of Revolution Portugal.
Protected deposits… in Lithuania
Despite the opening of the branch in national territory, deposits will remain protected (up to 100,000 euros) not in the national territory, but by the Lithuania Deposit Guarantee Fund, as Revolution operates with Lithuanian banking license.
But the existence of an entity based in Portugal will allow customers submit complaints directly to Banco de Portugal or through the complaint book.
Easier life for taxpayers
The new Portuguese IBAN, in addition to facilitating entity and reference payments, also remove the obligation to declare the revolution IBAN in Annex J of the IRS Declarationwhich facilitates the process to taxpayers.
Revolution has also entered into an agreement with SIBS, allowing revolution cards to be added to the MB Way application, widely used for mobile payments, instant transfers and online purchases.
O housing credit should only arrive in 2027.
It is recalled that the migration process for Portuguese IBAN requires additional data and, therefore, the customer has to accept migrating to the branch in Portugal.
