OCC Grants Revolut US Bank Charter; Four Key Services Need Separate Sign-Off

The OCC has granted Revolut Bank US, National Association preliminary conditional approval for a new U.S. bank charter, giving the fintech direct access to key U.S. payment rails and potential national deposit and lending authority. The approval, signed by OCC Senior Deputy Comptroller Stephen Lybarger on September 2, 2026, was made public September 3 and allows Revolut to organize as a branchless digital bank headquartered in Stamford, Connecticut. However, four product lines—retail FX trading, FX forward contracts, merchant acquiring, and correspondent banking for foreign banks—cannot launch until Revolut receives separate supervisory sign-offs for each. The charter ends Revolut’s reliance on its Kansas City, Missouri partner bank for processing.