The countdown has begun for the opening of Revolut’s virtual branch in Greece, a development expected to increase competition among domestic banks regarding digital customer services. Specifically, the branch will open on March 31, while Revolut’s arrival in Greece will also be accompanied by the conversion of existing IBANs from Lithuanian to Greek. Recent information indicates that the Bank of Greece has requested that Revolut’s existing and new customers in Greece receive Greek IBANs.
Revolut’s arrival in Greece: What the central bank demands
In the same direction, the Bank of Greece has requested that Revolut implement stricter rules for digital customer onboarding, with video calls for identification during account opening. It should be noted that stricter identification will be implemented EU-wide from July 10, 2027, when AML Regulations for money laundering will apply pan-European. The Bank of Greece is implementing these specifications a year and a half earlier, asking Revolut to follow a stricter process for granting Greek IBANs, compared to what it follows in Lithuania.
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