# Revolut: Open finance Source: https://www.bankingnewsai.com/fintech/revolut/open-finance Last updated: Oct 22, 2026 *Part of the [Revolut AI strategy profile](https://www.bankingnewsai.com/fintech/revolut).* ## What is Revolut's role in open finance and open banking? Revolut plays three open-banking roles. As an account provider it runs an Open Banking API that licensed third parties use, with customer consent, to access Revolut accounts, and it tightened that API in 2024 and 2025: most account-information endpoints were limited to the five minutes after a customer authorises consent from 18 November 2024, the accounts endpoint was added to the exempt list from 10 February 2025, and the API moved to the FAPI 1.0 Advanced standard with mandatory mutual TLS from 10 July 2025. As a third-party provider, Revolut Bank UK's account information terms let customers link accounts at other banks, which Revolut reads periodically through the day for spending insights and, for credit applications, for credit checks; customers reconfirm consent every 90 days, Revolut charges no fee, and an unnamed third-party partner transmits the data. As a merchant acquirer it launched Pay by Bank for developers in May 2025, live in 14 countries with over 110 banks, and added it to Revolut Gateway on 10 September 2025, citing UK Pay by Bank growth from 15 million to 27 million monthly transactions in a year. In January 2026 it adapted Google's AP2 agent-payment flows for account-to-account payments. Its e-money subsidiary Revolut Ltd is subject to PSD2, and its board was briefed on PSD3 in 2025. Revolut does not publish Pay by Bank volumes, the number of third parties using its API or how many customers link external accounts. ([Revolut Developer](https://developer.revolut.com/updates/2024-09-16-open-banking-ais-restrictions), [Revolut Developer](https://developer.revolut.com/updates/2025-02-03-payment-initiation-status-update), [Revolut Developer](https://developer.revolut.com/updates/2025-03-04-open-banking-fapi1-advanced), [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/ais_open_banking_terms_c0da2927_1.0.0_1790350916_en.pdf), [Revolut Developer](https://developer.revolut.com/blog/2025-05-28-pay-by-bank), [Revolut](https://www.revolut.com/news/revolut_adds_pay_by_bank_option_to_their_payment_gateway/), [Revolut](https://www.revolut.com/news/revolut_to_enable_frictionless_checkout_across_all_agentic_commerce_platforms_for_the_uk_and_eea/), [Revolut](https://assets.revolut.com/pdf/annualreport2025.pdf)) ## How has Revolut run its Open Banking API for third parties? From Revolut's developer update log. Licensed third parties (TPPs) use the API to access Revolut accounts with customer consent. | Change | What it does | Effective | Sources | | --- | --- | --- | --- | | Five-minute window | Account-information endpoints such as accounts, beneficiaries, direct debits and standing orders return HTTP 403 more than 5 minutes after the customer authorises consent; balances and transactions are not affected | 18 November 2024 | [Revolut Developer](https://developer.revolut.com/updates/2024-09-16-open-banking-ais-restrictions) | | Accounts endpoint exempted | After TPP feedback, the accounts endpoint joins balances and transactions as accessible beyond the 5-minute window, for new and existing consents | 10 February 2025 | [Revolut Developer](https://developer.revolut.com/updates/2025-02-03-payment-initiation-status-update) | | Refresh tokens | Refresh tokens issued with access tokens from 7 April 2025; from 4 August 2025 access tokens expire after 60 minutes, while refresh tokens last 180 days for EU users, 50 years (long-lived) for UK users and 90 days elsewhere | 2025 | [Revolut Developer](https://developer.revolut.com/updates/2025-03-19-open-banking-refresh-tokens) | | FAPI 1.0 Advanced | Request JWTs must carry nbf, exp and aud claims, and mutual TLS is enforced on all Open Banking API endpoints with new subdomains, after a deprecation period from 10 March 2025 | 10 July 2025 | [Revolut Developer](https://developer.revolut.com/updates/2025-03-04-open-banking-fapi1-advanced) | ## How does Revolut use open banking for its own customers and merchants? | Service | What Revolut says | Date | Sources | | --- | --- | --- | --- | | Linked accounts (UK) | Revolut Bank UK acts as a third-party provider, reading account details, transaction history and features of accounts at other banks periodically through the day to give spending insights; consent is reconfirmed every 90 days and can be revoked in the app | AIS terms v1.0.0, retrieved 22 October 2026 | [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/ais_open_banking_terms_c0da2927_1.0.0_1790350916_en.pdf) | | Credit checks | For credit applications Revolut accesses external account details and transaction history for credit checks, and access ends once the application is completed | AIS terms v1.0.0, retrieved 22 October 2026 | [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/ais_open_banking_terms_c0da2927_1.0.0_1790350916_en.pdf) | | Data handling | No fee for the account information service; a third-party partner transmits the account information; data is not shared outside the Revolut group except where required by law | AIS terms v1.0.0, retrieved 22 October 2026 | [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/ais_open_banking_terms_c0da2927_1.0.0_1790350916_en.pdf) | | Payment initiation for business customers | Business customers may view accounts at other providers and initiate payments from them in the Revolut app; refunds for unauthorised payments are claimed from the account provider | PIS terms v1.0.0, retrieved 22 October 2026 | [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/payment_initiation_service_open_banking_762af5b3_1.0.0_1773243959_en.pdf) | | Pay by Bank for developers | Customers authorise payments to merchants straight from their bank account; live in 14 countries with support for over 110 banks; no chargebacks | 28 May 2025 | [Revolut Developer](https://developer.revolut.com/blog/2025-05-28-pay-by-bank) | | Pay by Bank on Revolut Gateway | Initially in the UK and 13 EEA countries; Revolut cites UK Pay by Bank growth from 15 million to 27 million monthly transactions in one year and about 14 million monthly users | 10 September 2025 | [Revolut](https://www.revolut.com/news/revolut_adds_pay_by_bank_option_to_their_payment_gateway/) | | Account-to-account flows for agents | Revolut adapted Google's AP2 agent-payment protocol for account-to-account payments | 19 January 2026 | [Revolut](https://www.revolut.com/news/revolut_to_enable_frictionless_checkout_across_all_agentic_commerce_platforms_for_the_uk_and_eea/) | ## Which open-banking rules apply to Revolut, and what does it not disclose? Revolut Ltd, the group's non-bank subsidiary, is an FCA-regulated e-money institution subject to the Payment Services Directives 2017 (PSD2), per the 2025 annual report; the UK account information and payment initiation services are provided by Revolut Bank UK Ltd, authorised by the Prudential Regulation Authority (FRN 981170). ([Revolut](https://assets.revolut.com/pdf/annualreport2025.pdf), [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/ais_open_banking_terms_c0da2927_1.0.0_1790350916_en.pdf), [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/payment_initiation_service_open_banking_762af5b3_1.0.0_1773243959_en.pdf)) The board's 2025 training programme included an assessment of the forthcoming Third Payment Services Directive (PSD3) and UK and EU supervisory priorities on operational resilience, safeguarding and fraud. The annual report does not set out a position on PSD3's open-banking provisions. ([Revolut](https://assets.revolut.com/pdf/annualreport2025.pdf)) Alex Codina, General Manager of Merchant Acquiring, pitched Pay by Bank as a way for merchants to "eliminate fraud and increase optionality"; the release says payment authorisation in the customer's banking app drastically reduces fraud and chargeback risk. ([Revolut](https://www.revolut.com/news/revolut_adds_pay_by_bank_option_to_their_payment_gateway/)) What is not disclosed: Pay by Bank and open-banking payment volumes (the 2025 annual report gives none), the number of third parties using Revolut's API, how many customers link external accounts, the name of the data-transmission partner, and whether linked-account data feeds PRAGMA or credit models beyond the credit checks described. ([Revolut](https://assets.revolut.com/pdf/annualreport2025.pdf), [Revolut](https://cdn.revolut.com/terms_and_conditions/pdf/ais_open_banking_terms_c0da2927_1.0.0_1790350916_en.pdf), [Revolut](https://www.revolut.com/news/revolut_adds_pay_by_bank_option_to_their_payment_gateway/)) ## What does the Revolut profile record on this topic? | Date | Move | Detail | Sources | | --- | --- | --- | --- | | Aug 10, 2026 | French banking licence | Finextra reported that Revolut had been awarded a full European banking licence by French regulators, with approval from the European Central Bank; the new banking unit begins with customers in France before expanding to other Western European markets, while the Lithuanian Revolut Bank UAB remains the hub for the rest of the EEA. | [Finextra](https://www.finextra.com/newsarticle/48219/revolut-awarded-full-fat-european-banking-licence) | | Mar 11, 2026 | UK bank exits mobilisation and launches | The PRA lifts restrictions on Revolut Bank UK Ltd, letting it offer FSCS-protected deposit accounts and a fuller product range to its 13 million UK customers. | [Revolut](https://www.revolut.com/news/revolut_launches_uk_bank/), [CNBC](https://www.cnbc.com/2026/03/11/revolut-acquires-full-uk-banking-license.html) | | Jul 25, 2024 | UK banking licence with restrictions | The PRA grants Revolut NewCo Ltd a UK banking licence with restrictions, starting the 'mobilisation' stage in which deposits are capped and nothing changes for existing customers. | [Revolut](https://www.revolut.com/news/revolut_receives_uk_banking_licence/) | | Jan 1, 2024 | ECB takes over direct supervision of the Lithuania bank | Following a request from Lietuvos bankas, the ECB classifies Revolut Holdings Europe UAB and Revolut Bank UAB as 'significant' institutions, assuming direct supervision from 1 January 2024, citing wide cross-border presence and rapid balance-sheet growth. | [European Central Bank, Banking Supervision](https://www.bankingsupervision.europa.eu/press/other-publications/publications/significance-assessment/pdf/ssm.sar2023.en.pdf) | ## Common questions ### Does Revolut have an open banking API? Yes. Revolut runs an Open Banking API that licensed third parties use, with customer consent, to access Revolut account data. It moved the API to the FAPI 1.0 Advanced security standard with mandatory mutual TLS from 10 July 2025 and changed its token and consent-window rules in 2024 and 2025. ### Can I link other bank accounts to Revolut? In the UK, yes. Revolut Bank UK's account information terms let customers link accounts held at other banks; Revolut reads them periodically through the day to give spending insights, asks customers to reconfirm consent every 90 days, charges no fee and stops access when consent is revoked in the app. ### Does Revolut offer Pay by Bank to merchants? Yes. Revolut launched Pay by Bank for developers in May 2025, live in 14 countries with over 110 banks, and added it to Revolut Gateway on 10 September 2025, initially in the UK and 13 EEA countries. Revolut has not published Pay by Bank volumes on its platform. ### How long does open banking access to a Revolut account last? For third parties using Revolut's API, access tokens issued from 4 August 2025 expire after 60 minutes, and refresh tokens last 180 days for EU users, 50 years for long-lived UK tokens and 90 days elsewhere. Most account-information endpoints other than accounts, balances and transactions are limited to five minutes after consent. ### Is Revolut subject to PSD2 and PSD3? Revolut Ltd, its FCA-regulated e-money subsidiary, is subject to PSD2, per its 2025 annual report. PSD3 is not yet in force; Revolut's board received a training assessment of the forthcoming directive in 2025, but the annual report does not set out a position on its open-banking rules. ## Deeper on Revolut - [How does Revolut use AI across its payment ecosystem?](https://www.bankingnewsai.com/fintech/revolut/payment-ecosystem-ai) - [What is Revolut's role in the digital payments transformation?](https://www.bankingnewsai.com/fintech/revolut/digital-payments-transformation) - [What is Revolut's AI strategy?](https://www.bankingnewsai.com/fintech/revolut/ai-strategy) - [What is Revolut doing in agentic commerce?](https://www.bankingnewsai.com/fintech/revolut/agentic-commerce) ## Same question, other companies - [Nubank: open finance](https://www.bankingnewsai.com/fintech/nubank/open-finance) - [Klarna: open finance](https://www.bankingnewsai.com/fintech/klarna/open-finance) - [Stripe: open finance](https://www.bankingnewsai.com/fintech/stripe/open-finance) - [Adyen: open finance](https://www.bankingnewsai.com/fintech/adyen/open-finance) - 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