Revolut—Italy's competition authority fined Revolut EUR 11.5M for misleading 'commission-free' investment claims and account blocking
On April 2, 2026, Italy's AGCM fined Revolut EUR 11.5M across three violations: EUR 5M for failing to disclose costs and limitations of 'commission-free' fractional share investments; EUR 5M for aggressive practices in suspending/blocking customer payment accounts; and EUR 1.5M for inadequate information during Lithuanian-to-Italian IBAN migration. Revolut stated it 'strongly disagrees' and plans to appeal.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Consumer Protection | -against | primary | -1.00 |
| Corporate Transparency | -against | secondary | -0.50 |
| Overall incident score = | -0.497 | ||
Score = avg(topic contributions) × significance (medium ×1) × confidence (0.66)
Evidence (2 signals)
Italy's AGCM fined Revolut EUR 11.5M for consumer protection violations
Italian competition authority imposed three fines totaling EUR 11.5M on Revolut for misleading commission-free claims, aggressive account blocking, and poor IBAN migration communication.
Italy's AGCM official press release: EUR 11.5M fine against Revolut for unfair commercial practices, confirmed by Reuters and Financial Times
Italy's Autorità Garante della Concorrenza e del Mercato (AGCM) published its official decision (case PS12974) fining Revolut Securities Europe UAB, Revolut Group Holdings Ltd, and Revolut Bank UAB a combined EUR 11.5 million for violating Articles 20-25 of the Italian Consumer Code, covering misleading 'commission-free' investment disclosures, aggressive account-blocking practices, and unclear IBAN migration communications. Reuters and the Financial Times both confirmed the fine and reported Revolut's statement that it disagreed with AGCM's conclusions and would appeal.