Revolut to launch ATMs and opens office in Portugal this summer

Online digital bank Revolut is to open an office in Portugal this summer with an ambition to become the “main bank” for Portuguese clients according to the news agency Lusa quoting the bank’s Director for South Europe, Ignacio Zunzunegui.

The fintech will also debut ATM machines with the first 50 to be installed in Spain this year, and in Portugal, Italy and Germany in 2026.

The first ATMs will be ready for use between today (June 4) and June 8 at the Primavera Sound festival in Barcelona.

Over the summer machines will be then installed in Madrid and Barcelona, according to the bank.

After this first phase, another 150 terminals for cash withdrawal and other services will be installed in Spain, with the aim of reaching a total of 200 ATMs in the country, in Madrid, Barcelona, Valencia and Malaga.

Revolut carried out an analysis of the countries where cash machines would have the greatest penetration to define these initial markets in which to install the ATMs.

Spain is the bank’s second largest market (5 million clients) after France, and with 60% of transactions in the country made with cash, it was considered the ideal pilot market for the cashpoints in what will be the first physical service offered by the digital bank.

“Portugal is one of the markets in which we have the greatest penetration, about 16 to 17% of the total population. If we think in terms of adults, it is even greater. Therefore, it is one of the next obvious markets to launch this business,” he added, in statements to Lusa on Tuesday, in Barcelona.

The intention is that “throughout 2026” Revolut ATMs will reach Portugal, in principle, Lisbon and Porto, the cities with the largest number of the bank’s customers, and also with a largest number of tourists.