Revolut aims to become a full bank in Switzerland (cross-border guide)

Context

In a nutshell

• Banking license application submitted to FINMA
• Over 1 million customers active on the Swiss market
• Aim to offer salary accounts with Swiss IBANs
• Approximately 30 employees employed at the Zurich site

Key facts

• Applicant: Revolut
• Supervisory authority: FINMA
• Current customers in Switzerland: 1.3 million
• Growth in 2025: 240 thousand new customers
• Main competitors: Yuh 400 thousand, Neon 250 thousand
• Global customers: over 80 million

British fintech Revolut has officially taken a decisive step in the Swiss financial landscape by applying to financial markets supervisor FINMA for a Swiss banking license. The announcement was made on Wednesday by the same company, which aims to transform itself from a simple digital payment application to a full-fledged financial institution in the country.

Growth in the Swiss market

In recent years, the company has established itself strongly in the field of digital financial services in Switzerland. The official data provided by the company indicate that the user base has reached 1.3 million people, registering an increase of about 240 thousand units during the 2025 financial year alone. To make a comparison with the other operators active in the new banks sector in Switzerland, competitors Yuh and Neon are positioned respectively at 400 thousand and 250 thousand registered customers.

Local and international presence

Currently, the

Operational details

The implications for the services offered

Up to this point, the majority of users in Switzerland have used the platform mainly as a convenient and cost-effective application to manage expenses and payments during travel abroad. With the acquisition of the Swiss banking license, the corporate strategy involves a radical expansion of the commercial offering targeted at the Swiss public. The stated primary objective consists of introducing salary accounts equipped with an official Swiss IBAN to the local market and ensuring deposit protection as required by national banking regulations.

The comparison with the traditional banking sector

The financial services market in Switzerland is facing a profound digital transformation, driven precisely by the spread of financial applications and neobanks. The initiative to apply for an independent license from FINMA allows the company to compete directly with traditional institutions and other digital platforms already operating in the territory. The availability of an account with local banking coordinates represents a key element in attracting customers who until now have maintained their main account with cantonal banks or major Swiss banks for salary crediting.

Regulation and federal control

The review of the application by FINMA represents a formal and rigorous step, aimed at verifying the compliance of the corporate structure with Swiss regulatory standards. Financial market supervision carefully evaluates capital requirements, governance, and security systems offered to resident customers. This supervision process ensures that any full banking operations take place in full compliance with federal rules to protect depositors.

Recommended tools

For an updated estimate, use the net salary calculator and the CHF-EUR exchange comparator.

Key points

Next steps for customers

For users who already use the platform in Switzerland, submitting the application to FINMA does not entail immediate changes in the daily operation of the application. The evolution towards full banking operation with Swiss IBAN and deposit protection will depend on the outcome of the evaluation process conducted by the supervisory authority. Interested parties will have to wait for the official communications of the company regarding the issuance of the license and the methods of activation of the new services dedicated to residents.

Checking financial options

Meanwhile, those who want to evaluate the different opportunities offered by the Swiss banking system can analyze the conditions applied by the various institutions for the management of liquidity and current accounts. To find out more about the solutions available on the Swiss market, you can consult the dedicated comparison services conti bancari in Svizzera.

Income management and planning

Choosing an account suitable for your work and personal needs requires a careful analysis of the economic conditions and ancillary services offered by digital and traditional operators. For a complete overview of revenue management and taxation in Switzerland, it is advisable to consult the in-depth tools and the calcolatore stipendio.

Source: rsi.ch