Revolut will end the Lithuanian IBAN (LT) used by current accounts by moving all Spanish accounts to a branch in our country. Although communication is possible within the framework of the European Union and between the Spanish Treasury and Revolut, one of the main attractions of Revolut for some users was the ability to easily open a free account outside of Spain.

Neobank began sending emails to its customers over a two-month period stating: will be moved automatically all accounts to a Spanish branch. Likewise, he explains that if we don’t want to have a Spanish IBAN, the solution is simple: delete the account.

In May the news started coming in: Revolut would bet on local accounts in the short term. However, it wasn’t until this week that the bank began to warn its customers of the big change: goodbye to the Lithuanian IBAN.

From Revolut, within two months of counting, new IBAN will be classic ‘ES’indicates that we are under the umbrella of a Spanish branch. The advantages of relying on a Spanish account, according to Neobank, mean greater protection, convenience when making payments and direct debits, as well as the possibility of receiving our payroll in the Revolut account.

While they state that the process will have a two-month margin, they note that “the process may take longer” although the exact date for the transition will be announced “very soon”. This change will also affect Pro accounts.

From the email Revolut sends to its customers, “remember that you can close your Revolut account at any time if for any reason you do not want us to move you to our Spanish branch.”

During this two-month transition, it will continue to be possible. Use Revolut account under Lithuanian IBAN. Likewise, keep in mind that the functionality of the app will remain the same, including payments with automatic conversion abroad, purchase of crypto assets, reward system and others. The big difference: everything remains within the framework of a Spanish bank like any other.

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