Revolut suspends new registrations from Malta

Revolut has suspended the registration of new clients based in Malta, with those wishing to join the app-based banking service being added to a waiting list numbering thousands.

Earlier today, Times of Malta reported that Revolut’s support team is telling new applicants that the service “no longer supports Malta”. This information has been by corroborated by various individuals on social media, with one saying that his position in the queue to join ‘Revolut Beta’ is over 2,000.

A Revolut spokesperson told the newspaper that it has “temporarily paused onboarding for customers based in Malta. Anyone wishing to create an account from Malta will be added to a waiting list. We apologise for the inconvenience caused by this and will notify those affected when this changes.”

One customer support agent told a new user that “it is not possible to sign up with a Maltese address”.

As recently as Tuesday, Revolut was promising a reward to existing users for referring potential new users.

Agents for the company said that details cannot be disclosed “as the information is internal”.

The app’s website still lists Malta as one of the countries that Revolut supports.

Revolut has gained steady ground in Malta in recent years, particularly with those whose experience with local banks was less than satisfactory.

On the app, users can transfer funds, buy cryptocurrency and set up savings accounts, among others.

Abigail Agius Mamo, CEO of the SME Chamber, noted that the app had become more selective, including, at times, halting the onboarding of Maltese businesses.