Bank Revolut has started blocking the accounts of Russians in Europe

Russians living in Europe have faced restrictions on the use of their cards and bank accounts with Revolut. The Russian Forbes writes about it, reports liga.net.

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Restrictions arose due to increased bank requirements for documents confirming the right of citizens of the Russian Federation to live in Europe, as well as due to difficulties in obtaining a permanent residence permit or a long-term visa.

According to the publication, four Russians living in France and Latvia reported problems with their Revolut accounts.

Revolut was founded in 2015 in London by Russian Mykola Storonsky and Ukrainian Vladyslav Yatsenko, and is one of the few banks providing services in euros for Russian citizens. Revolut is one of the few banks that open euro accounts for Russian citizens with Russian passports and long-term visas type D with a term of 180 days or more. Revolut Bank UAB is licensed and regulated by the Bank of Lithuania in the European Union, but headquartered in London.
One of the Russians living in France told the publication that a few weeks before the expiration of his long-term visa, Revolut requested documents confirming his right to reside in Europe. The bank refused to accept documents issued by the French prefecture on humanitarian grounds (Autorisation provisoire de sejour — temporary residence permit).

The representative of the bank, Paddy Crowley, confirmed the strengthening of formal requirements for Russians by Revolut. According to him, due to the restrictions imposed by the European Union on citizens of Russia and Belarus, all holders of Russian and Belarusian passports who wish to use Revolut services must provide a certificate of permanent residence or a work visa that allows them to stay in the European Union for more than 180 days.

• Since March, Swiss banks have started warning clients from Russia that they will close their accounts if they find out that they have paid taxes to the Russian budget.
• Bank Of Cyprus, the largest bank in Cyprus, has sent out a warning to Russian customers that their accounts will be closed.

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