Revolut is pushing into UK corporate banking. It now plans to target companies in the FTSE 250. Until now, its business arm has focused mainly on smaller firms.
This move brings Revolut closer to established lenders such as Barclays and HSBC, which already hold deep relationships with large UK companies.
Revolut Moves Beyond Its SME Banking Base
The timing matters. In March 2026, the Prudential Regulation Authority lifted restrictions on Revolut’s UK banking licence. Revolut Bank UK Ltd can now operate as a full UK bank and offer bank accounts to retail and business customers.
Revolut Business currently serves around 800,000 business customers worldwide. It aims to reach 1 million by 2027.
The division made up 16% of Revolut’s £4.5 billion revenue in 2025. It also grew 53% year on year.
To support this growth, Revolut is hiring staff with experience in major banks and corporate credit. Employees can also earn a £1,000 referral bonus for bringing in a new business customer.
Corporate Lending Expansion Will Take Time
Revolut’s move into larger companies does not mean it already offers every service FTSE 250 businesses need.
James Gibson, head of Revolut Business, has made clear that strong credit underwriting systems must come first. Revolut has not announced a fixed timetable for a wider corporate lending rollout.
Credit Risk Remains a Key Challenge
Large companies often need more than payments and expense tools. They also need working capital, lending, treasury controls and complex credit arrangements.
Revolut is building this capability carefully rather than rushing into large corporate lending.
This matters because the real story is that Revolut wants to compete for larger corporate relationships. It does not mean FTSE 250 companies are already leaving their main banks.
What the Expansion Means for UK Finance Teams
For finance directors and CFOs, Revolut’s expansion adds another banking option.
Its digital systems may appeal to companies managing international payments, multi-currency transactions and large payment flows.
Still, businesses should not treat faster technology as the only factor.
Deposit Protection Still Needs Attention
Eligible UK Revolut Business accounts are moving from e-money accounts to current accounts with Revolut Bank UK Ltd.
Once an eligible account has moved, qualifying deposits can receive Financial Services Compensation Scheme protection of up to £120,000.
For a FTSE 250 business holding much larger cash balances, that amount may protect only a small share of total funds.
Finance teams still need to review where they hold cash, how quickly they can access funds and how concentrated their banking exposure is.
Tax and Accounting Controls Must Keep Pace
A new banking setup can also affect accounting and tax processes.
Multi-currency payments need accurate foreign exchange records. Bank feeds must connect correctly with cloud accounting systems. Expense and payment data also needs to support VAT work, year-end accounts and Corporation Tax filings.
Poor Integration Can Create Reporting Problems
If banking and accounting systems are not properly connected, small errors can build up.
Businesses may face poor cash visibility, delayed reconciliations or incomplete records. A faster banking platform does not remove the need for strong financial controls, which is why solid bookkeeping practices matter as much as the banking platform itself.
What UK Businesses Should Do Now
Finance teams should treat Revolut’s FTSE 250 push as a new option rather than a reason to switch banks immediately.
Businesses should compare:
- banking and transaction costs
- international payment needs
- deposit protection
- access to credit
- cash controls
- accounting system integration
The right choice depends on the company’s treasury structure and reporting needs, and larger or scaling businesses may benefit from a virtual finance director to oversee that decision.
Why Lanop Can Help
Lanop Business & Tax Advisors can help businesses review the accounting, tax and cash flow impact of changing or adding a banking provider.
This includes checking how new banking arrangements affect financial reporting, multi-currency records, VAT processes and wider cash management.
As competition grows in UK corporate banking, finance teams need more than a faster platform. They need a banking structure that also works for tax, compliance and long-term financial control. Contact Lanop today to review your banking, accounting and tax setup.
