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Revolut has introduced its first branded ATMs in Spain, offering a fresh take on a long-standing piece of banking infrastructure.
Starting with locations in Madrid and Barcelona, the new machines provide Revolut customers with fee-free withdrawals, competitive exchange rates, and the option to collect new cards. This launch is part of Revolut’s strategy to bring a more modern and user-friendly experience to the ATM, which hasn’t seen much innovation in recent years.
The first 50 ATMs will be rolled out across high-traffic areas in Madrid and Barcelona, with plans to add up to 150 more in other major cities like Valencia and Málaga. Revolut customers can easily find these ATMs through the Revolut app, which shows details like locations, hours, and directions.
In a country where cash still plays a big role in transactions, Revolut said its new ATMs will provide a “smarter alternative” to the usual machines. Users can withdraw cash, check their balances, and even get a new physical card, all through an intuitive interface.
One of the main benefits is that Revolut customers can withdraw money without the usual ATM fees, and they’ll get the same exchange rates they’re used to in the app, even when withdrawing in a foreign currency. Non-Revolut customers can also use the machines, though they’ll pay a fee and will be able to sign up for a Revolut account on the spot to enjoy the same benefits.
“Launching our ATM network is an important step in offering a seamless financial experience to our customers,” said Manjot Bhatia, Operating Partner at Revolut. “By modernizing such an essential banking touchpoint, we’re improving access to cash and strengthening our presence across Europe.”
Revolut plans to expand this ATM network to other European markets, including Germany, Italy, and Portugal, starting in 2026.
In April, Revolut reported a record $1.4 billion in pre-tax profit for 2024, up 149% from the previous. The company’s strong performance was largely driven by explosive growth in its wealth division, which includes cryptocurrency trading, commodities, and savings products.
Revolut’s wealth revenue soared 298% year-over-year to $647 million, supported by the launch of its standalone crypto exchange, Revolut X, in May and its expansion across 30 European markets. The company also secured a UK banking license in July after a prolonged three-year approval process.
Overall revenue jumped 72% to $4 billion in 2024, compared to $2.2 billion in 2023. Other growth drivers included a 74% increase in subscription revenue to $541 million, a 58% rise in FX income to $540 million, card payment growth of 43% to $887 million, and a 58% increase in interest income to $1 billion.
Revolut’s net profit rose 134% to $1 billion, up from $428 million, pushing its profit margin to 26% from 19% a year earlier.
