Italy’s competition authority has imposed fines exceeding €11 million on companies within the Revolut group for unfair commercial practices related to investment services and the management of banking accounts.
In a decision announced on 2 April 2026, the Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato, AGCM) sanctioned Revolut Securities Europe UAB, Revolut Group Holdings Ltd and Revolut Bank UAB for misleading and aggressive practices that the authority said harmed consumers and micro-enterprises.
A first fine of €5 million was imposed on Revolut Securities Europe UAB and Revolut Group Holdings Ltd in connection with the promotion of investment services. According to the authority, the companies failed to provide clear and complete information to consumers at the initial advertising stage about additional costs and the limitations associated with so-called commission-free investments.
The AGCM found that some of these services involved fractional shares, which differ significantly from full shares in several respects, including risk profiles, investor rights and transferability. The authority concluded that the absence of sufficiently clear information could mislead consumers about the nature and characteristics of the investments offered.
A further €5 million fine was imposed on Revolut Group Holdings Ltd and Revolut Bank UAB for the way the companies handled restrictions on payment accounts. The authority determined that the firms had used aggressive practices and had failed to provide adequate information about the conditions under which accounts could be suspended, limited or blocked.
The AGCM found that customers were not properly informed during the pre-contractual stage about these possibilities and often received no advance notice when restrictions were applied. In addition, the authority concluded that users were not provided with sufficient assistance or opportunities for dialogue after the restrictions were implemented.
According to the regulator, prolonged inability to access funds or associated banking services can significantly affect individuals and businesses, limiting their ability to exercise contractual rights or respond to urgent financial needs. For this reason, the authority considered the practices capable of unduly influencing the economic behaviour of consumers and micro-enterprises.
In a separate part of the decision, the AGCM imposed an additional fine of €1.5 million on Revolut Group Holdings Ltd and Revolut Bank UAB for failing to provide clear information regarding the conditions and timelines for obtaining an Italian IBAN beginning with “IT” instead of the Lithuanian “LT” IBAN used by the bank for many customers.
The authority concluded that the lack of transparent information regarding this process also constituted a misleading commercial practice under Italy’s Consumer Code.
The sanctions were imposed for violations of several provisions of the Italian Consumer Code concerning misleading and aggressive commercial practices. The authority stated that these rules are designed to ensure that consumers receive accurate information and are able to make informed financial decisions.
