Revolut Secures New Zealand's First Digital Banking Licence
The Reserve Bank of New Zealand approved Revolut to operate as a registered bank under the name Revolut Bank New Zealand, effective Nov 3, 2026. Revolut is the first digital bank registered in the country. The company plans to invest approximately USD 67 million in its New Zealand operations over five years, covering product development, growth, and local hiring.
Initial products include Instant Access Savings accounts with a 3.50% introductory rate for the first four months. Eligible deposits of up to approximately USD 58,000 per customer are now covered by the New Zealand Depositor Compensation Scheme. The licence is Revolut's seventh banking licence globally and its fifth obtained in 2026.
Revolut now operates as a licensed bank in 34 markets, including the UK, Europe, Australia, and New Zealand.
- Revolut's multi-market licensing strategy reduces its dependence on BaaS partners and strengthens its position as a globally chartered fintech bank
- Could spur regulatory frameworks in other APAC markets to accommodate digital-only banking applicants
- OfficialThe Paypers — Nov 2026