Russians residing in European nations faced notable limits on card transactions and account activity at the Lithuanian financial institution Revolut. Reports described Russians in Latvia and France experiencing these constraints, based on statements from Russian Federation citizens cited by Forbes.
Revolut staff reportedly applied stricter scrutiny to documents proving residence in European countries. In particular, verification processes showed heightened diligence regarding residence status documents. The restriction on transactions would be lifted once the Lithuanian bank obtained the necessary confirmation of residence, according to the article.
It was noted that the bank’s support required either a standard French residence card, the titre de séjour, or a D visa valid for 180 days. As a consequence, accounts faced limitations and incoming transfers were blocked. Russians living in Latvia encountered similar issues, with push notifications sent two to three weeks before the expiry of their documents requesting confirmation of residence via a visa or a residence permit card.
On August 15, Valeria Kiguolene, a representative of the Lithuanian Banks Association, stated that the Lithuanian Siauliai Bank, which had agreements for transit of cargo with Kaliningrad, ceased ruble payments. From September 1, all transactions with Russian clients were to be suspended. At the same time, all customers of the bank were informed about this in a timely manner.
These developments reflect a broader tightening of banking access for residents of Russia who are living in European jurisdictions. Banks in several Baltic and Western European countries have emphasized the need for up-to-date residency documentation and visa status as part of their anti-money-laundering and compliance procedures. The tightening comes in the context of evolving regulatory expectations and heightened risk assessment practices within the European financial system. Analysts note that banks are increasingly cautious about cross-border transactions that involve Russian nationals, especially where residence rights and source of funds are not fully documented or are in flux due to diplomatic and regulatory shifts. This situation can create financial friction for individuals who rely on international banking services to manage personal or business needs across borders, including transfers, payments, and access to digital wallets that depend on localized banking relations. In some cases, customers may need to provide additional proof of ongoing residence or updated visa documentation to restore full access to their accounts and transaction capabilities. Observers suggest that the trend is likely to continue until banks achieve a stable and transparent framework for verifying residency and the legitimacy of funds, reducing the potential for regulatory complications while maintaining customer service standards. (Forbes)