Bank Revolut, registered in Lithuania, began to block the accounts and transactions of Russians.
This is one of the key banks used by Russian citizens who have left for Europe – who are fleeing from mobilization, and who are protesting against the Russian invasion of Ukraine. Restrictions on accounts and cards, about which informs Forbes, have become a serious problem for them.
The reason for such actions of the bank was the tightening of its requirements for documents confirming the right to live in Europe, and the difficulty in obtaining long-term visas or GNP.
A Russian living in France told the publication that a few weeks before the expiration of his long-term visa, Revolut requested documents allowing him to live in EU. However, the bank did not take into account the temporary residence permit received by the Russian on humanitarian grounds, and asked for a residence permit (permit) or visa D for a period of 180 days.
The bank has limited the account of the Russian, incoming transfers are also blocked, but the opportunity is left to use the money that is on the card. As soon as one of the required documents is provided, which confirms the right to reside in the EU, the bank promised to lift the restrictions.
About similar difficulties told the publication and three Russians who live in Latvia. Paddy Crowley, a spokesman for Revolut, explained that the bank has tightened formal requirements for citizens of Russia and Belarus due to restrictions imposed by the EU on people from these countries. Russian and Belarusian clients must present an extended residence permit or work visa allowing them to stay in the EU for more than 180 days.
It should be noted that the restrictions apply specifically to Russians and Belarusians, and are valid throughout the entire territory of the bank’s presence.
In October 2022, the publication reminds, the co-founder of the fintech company Revolut, Nikolai Storonsky, who has a British passport, renounced Russian citizenship.
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