A neobank with a physical ATM network in Spain. Revolut is going to be the first to get it. The company announced last Friday the launch of its own ATM network, through which you can withdraw cash, obtain cards and carry out different procedures related to our account.
The physical implementation of ATMs will be part of a pilot test that will start mainly in Madrid and Barcelona, without ruling out their subsequent implementation in the rest of the peninsula.
The first neobank with an ATM network. Revolut is going to get it. It is going to become the first neobank with a physical presence in Spain. Initially, the project will be focused on Madrid and Barcelona, the two main capitals of the country. If the pilot project is successful, they will expand to different cities.
It is an important step for the more than 3.5 million Revolut customers in Spain, an increase of 40% compared to last year and it is already one of the most popular banks
2025, the year of mortgages. ATMs are just the first step to approaching traditional banking. The company plans to enter the mortgage products market, something it announced in 2023. Lithuania will be the first country to enjoy this service, followed by Ireland and France.
Although there is no confirmation or date for its launch in Spain, it is expected that this type of product will end up arriving if it works successfully in the rest of the countries.
Business credit products. Another novelty that Revolut is preparing has to do with its first business credit product. The company is exploring a biometric payment service in stores and restaurants, as well as deferred payment services.
The company, with its Revolut Pay payment system, wants to have a greater presence in the business world.
Outperforming traditional banks. Only BBVA surpasses Revolut in new account openings. According to reports from the Inmark Group, 12.8% of new customers who open a bank account do so at Revolut.
Betting on banks that offer paid accounts with daily payments, easy investment in cryptocurrencies, automatic currency conversion and functions that go beyond traditional banking – and, above all, without abusive commissions – works.
But approaching them. Revolut has already taken the necessary steps to gain the trust of the Spanish, but its limitations as a neobank are still present. ATMs and mortgages are two pillars that have characterized traditional banks, and betting on them is practically inevitable to continue growing.
Image | Revolut
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