According to the Authority, Revolut spread misleading information about its investment services and employed aggressive methods in the management of banking services.

The Italian Competition Authority has launched an investigation into Revolut Group Holdings Ltd, Revolut Bank UAB and Revolut Securities Europe UAB.

In connection with its investment services, Revolut seemingly promoted stock investment opportunities by placing emphasis on the absence of fees and failing to clearly disclose the additional costs and limitations involved in commission-free investments. Furthermore, it appears that Revolut neglected to mention an important aspect, namely that “commission-free” investments include fractional shares, which – when compared to full shares – involve significant differences, particularly in terms of voting rights and transferability of shares. With regard to cryptocurrency investments, which are inherently high-risk, it seems that Revolut did not make clear that once the investment is underway, stop-loss and take-profit settings – key risk management tools – can no longer be modified.

With respect to its banking services, it appears Revolut omitted or disclosed in an unclear manner essential information regarding the terms and procedures for suspending, limiting or blocking an account. The companies are believed to have adopted aggressive methods in the suspension or blocking of accounts, without providing clients with sufficient advance notice, a chance to respond or adequate assistance. This seems to have prevented users – also for extended periods – from accessing their funds and related services, thus hindering the exercise of their contractual rights. Lastly, Revolut seemingly failed to provide clear and exhaustive information on the requirements for obtaining an Italian IBAN (starting with IT) instead of a Lithuanian IBAN (starting with LT).

On Tuesday, 8 July, the Authority’s officials carried out inspections at the premises of the Italian branch of Revolut Bank UAB, with the support of the Special Antitrust Unit of the Italian Financial Police (Guardia di Finanza).

Rome, 10 July 2025