Italy: Competition Authority announced investigation into Revolut over alleged unfair commercial practices

On 10 July 2025, the Competition Authority (AGCM) opened an investigation into Revolut for alleged unfair commercial practices. The investigation concerns both investment and banking services. In the area of investment services, AGCM alleges that Revolut disseminated misleading promotional messages regarding "commission-free" stock investments by omitting information about additional costs and the limitations of fractional shares, such as the lack of shareholder voting rights and reduced transferability. In relation to cryptocurrency investments, Revolut is alleged to have failed to disclose the inability to adjust stop-loss and take-profit settings during investments, a functionality crucial for risk management. Regarding banking services, Revolut is accused of unclear or omitted information on the terms and procedures related to the suspension, limitation, or blocking of accounts, as well as employing aggressive account management methods that obstructed users’ access to funds without adequate notice or customer support. Additionally, Revolut allegedly failed to clearly communicate the conditions for obtaining an Italian IBAN (with IT prefix) as opposed to a Lithuanian IBAN (with LT prefix).