Overview
- Revolut ended its beta and began full operations as a regulated bank after CNBV and Banco de México approvals, with accounts now available in the app and deposits eligible for IPAB coverage around 3.4 million pesos.
- The bank introduced tiered savings paying up to 15% annually on balances up to 25,000 pesos, with lower rates for higher tiers and daily crediting of yields.
- Revolut capitalized its Mexico unit with over $100 million, reported a 447.2% capital adequacy ratio at launch, and secured HR Ratings' HR AAA and S&P National Ratings' mxA+ long-term grades.
- Initial offerings include multi-currency accounts in nearly 30 currencies, free instant transfers between Revolut users, low-cost international transfers, joint and family accounts, and a Kids & Teens product rolling out in beta.
- Executives set a goal of about 2 million customers in 2026 and plan an additional $100 million investment over 12 months, highlighting remittances as a priority with potential to return billions of dollars to recipients through lower costs.