Breaking News
Revolut Breaks Boundaries: Providing Accounts to Non-Citizens in the US Without SSN or ITIN
Revolut, a leading global banking app, has announced that it is now providing accounts to non-citizens who are present in the US legally but lack an SSN or ITIN.
Offering Revolut accounts to non-citizens in the US is in line with the company’s continued objective to allow users with enhanced control over their finances and to connect people around the world in an easy way.
Revolut has over 30 million members worldwide.
Launching Revolut accounts in the US
By offering a streamlined solution, including simple account sign-up, along with access to a variety of its everyday money management tools, Revolut is attempting to change this.
These services include early salary access (up to two days), low-cost currency conversion, and foreign transfers, as well as international-related features like global debit cards. Additionally, a government-issued ID and a current US visa are needed in order to open a Revolut account for non-citizens of the US.
Revolut US Head of Growth Danil Ovechkin commented on the release by saying that the business is excited to provide Revolut accounts to these communities of non-US nationals who have been overlooked by numerous traditional banks and fintechs.
The fact that non-US nationals will not have access to Revolut’s credit products or investment options like Stocks and Savings Vaults is an important aspect of the new accounts.
Recent developments with Revolut
Throughout 2023, Revolut has been on an expansion strategy, with significant global developments occurring. Many of these developments were unveiled in July.
It only announced the introduction of its Joint Accounts offering and the adoption of Tap-to-Pay on iPhone in the UK. In the same month, the business made its Express Elixir rapid transfers service available to consumers in Poland without charging a fee.
Revolut announced its plan to delist three cryptocurrencies—namely, Cardano’s ADA, Polygon’s MATIC, and Solana’s SOL—in the US due to regulatory uncertainty surrounding cryptocurrencies.
The company’s expansion into New Zealand, which was made in an effort to give Kiwis a better digital experience and spur market competition, came before the announcement.
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