Coutts raises minimum to £3M as Revolut sets £500K threshold

Revolut is preparing to enter the private banking market in the United Kingdom and select European countries as early as this summer, a source with direct knowledge of the plans has confirmed. The digital banking giant will set its entry bar at £500,000 (approximately $675,000) in investable assets for prospective clients. This move places Revolut in direct competition with established wealth managers like Coutts, the NatWest-owned institution that has catered to British high society for centuries. Coutts, by contrast, recently raised its minimum threshold for new clients to £3 million, signaling a strategic retreat further up the wealth pyramid and leaving a gap that Revolut appears eager to fill. The challenger bank’s aggressive expansion into high-net-worth services comes as it continues to build momentum ahead of a long-anticipated initial public offering, leveraging its existing user base and technology platform to undercut traditional private banks on fees and accessibility.