Revolut Approved as a Registered Bank in New Zealand
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On November 3, 2026, Finance Magnates reported that the Reserve Bank of New Zealand approved Revolut Bank New Zealand’s registration as the country’s 27th registered bank. Revolut obtained banking status after nearly two years of applying locally. Following the approval, eligible deposits are covered by the government’s deposit compensation scheme, with coverage capped at NZ$100,000; Revolut can also pay interest on savings and launch a savings account for new retail customers, with a floating interest rate of 3.50% for the first four months.
AI-written from reports · updated 2 hours ago
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- Finance MagnatesRevolut approved as a registered bank in New Zealand, with eligible deposits covered up to NZ$100,000
The Reserve Bank of New Zealand approved Revolut Bank New Zealand’s registration as the country’s 27th registered bank, nearly two years after Revolut applied to operate as a bank locally. Eligible deposits are now covered by the government’s deposit compensation scheme, up to NZ$100,000; Revolut can also pay interest on savings and has launched a savings account for new retail customers with a floating rate of 3.50% for the first four months.
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