Everything you need to know as online bank Revolut rolls out its own ATMs in Spain

The online banking company Revolut has selected Spain as the first market to roll-out the bank's own ATM cash machine network.

The first 50 ATMs will be installed in the coming weeks in Madrid and Barcelona, followed by another 150 in cities such as Valencia and Malaga, with a target of up to 200 cash machines nationwide.

They will be located in areas with saturated traffic such as Avenida Diagonal in Barcelona and Calle de Toledo in Madrid.

A real-time interactive map available on the Revolut app will help customers locate the address and opening hours.

The fully developed ATMs were presented at Revolut's TechHub in Barcelona, inaugurated last year as a strategic centre for technological innovation and talent attraction.

Revolut has chosen Barcelona for the launch, highlighting Spain's growing importance on the bank's European map and the city's "key" role in the market.

The network will be launched this week with two ATMs available at the Primavera Sound festival, which takes place in Barcelona from 4 to 8 June.

These ATMs allow cash withdrawals free of charge for Revolut customers, although the bank does clarify that "fair use" limits and weekend usage fees may apply, depending on the plan. If the customer withdraws in a currency other than that of their balance - for example a sterling card withdraws euros in Spain - the exchange rates available on the app will apply.

In addition, non-customers will also be able to use these ATMs in exchange for a fee. Although initially their bank's exchange rate will apply, the plan is to soon incorporate the dynamic currency conversion (DCC) functionality, which will allow them to choose what rate they would like to convert Revolut to. In addition, they will be able to open an account directly at the ATM and receive a physical card within minutes.

The bank's intention is to allow cash deposits in future phases. In terms of security, the connection is end-to-end encrypted and the bank plans to allow identity verification with facial recognition.

Following its launch in Spain, Revolut intends to extend this ATM network to other European countries, starting from 2026, including Germany, Italy and Portugal.