Digital banking app Revolut has said it has eased the account setup process for refugees fleeing Ukraine following the Russian invasion.

The company said it hopes this will help those displaced by the invasion, many with limited possessions and documentation, to get quick and easy access to their money.

Setting up an e-money account in the EEA typically requires proof of a right to reside in Europe.

However, the company said it has eased this requirement.

It said Revolut will help those fleeing Ukraine to access their money by linking the app to their Ukrainian bank account.

It said the standard account has no monthly fee and can be used to send or receive money as well as exchange currency.

It added that the Revolut card can be used anywhere in the EEA and Ukraine, with a limit of €1,500 a day via outbound bank transfer and Revolut peer-to-peer.

The company said friends and relatives already in Europe will also be able to transfer money to them quickly and securely, with fair usage limits applied.

It is also waiving a number of FX transfer fees to ensure there are no additional charges for individuals displaced by the invasion exchanging their Ukrainian Hryvnia into another currency.