The bank is expanding its activity

Revolut becomes a bank in Lithuania. Source: facebook.com

Revolut has officially launched as a licensed bank in Lithuania. This way, 300,000 customers can have their deposits protected by the Lithuanian State Company Deposit and Investment Insurance.

The bank revealed it will be launching consumer loans and credit cards across the country in the following months. Just to mention, the company has presented the Revolut Junior account for young people aged 7-17. As a result, kids will be able to develop healthy money habits under the guidance of their parents or guardians.

We’ve reported that Revolut bans gambling transactions to comply with regulations. The ban has been imposed after the Gambling Commission’s review of online gambling, and the Government’s Review of Gaming Machines and Social Responsibility Measures. It means that UK gambling companies cannot accept credit cards or payments made through a money service business.

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