Revolut now offers accounts to non-citizens in the US
By Delisha Fernandes
Revolut, a global financial superapp, has announced it now offers accounts to US non-citizens who do not have an SSN or ITIN.
The requirements for non-US citizens in the US to open a Revolut account include a government-issued ID and a valid US visa. These individuals will have access to many of Revolut’s everyday money management products, including international-related features.
Danil Ovechkin, Head of Growth Revolut US, said, “We are delighted to offer Revolut accounts to these communities of non-US citizens, who many traditional banks and FinTechs have ignored. We are proud to be allowing these customers to sign up for an account and make their lives easier by accessing a quality financial product and our everyday products designed to support their day-to-day needs. As we continue to expand access to our fast, secure, and easy financial superapp, we are redefining how to manage money to all communities within the US.”
More than 2.5 million people in the US are on some kind of visa and do not have an SSN or ITIN, of which 1 million are students. Financial institutions generally ignore this population and, as a result, do not have access to cost-effective financial services and are left with limited options for managing their finances.
Revolut is offering a hassle-free solution, including easy account sign-up and access to everyday money management products. This includes international-related features, such as a global debit card, low-fee currency exchange and international transfers, and early salary access (up to 2 days).
As part of the new accounts, non-US citizens won’t have access to Revolut’s credit products and investment features, such as Stocks and Savings Vaults.
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