Is my money protected?

Yes. As an electronic money institution, we are required to “safeguard” the money that we receive from customers like you.

This means that any money we receive from customers is either placed in a dedicated client money bank account we hold with a large global bank or invested in low-risk liquid assets held in a dedicated client asset account we hold with a large global financial institution.

Safeguarding helps protect you because it means that, if we were to become insolvent, our customers’ claims against us would be paid out from our dedicated client money bank accounts and dedicated client asset accounts, before anyone else’s claims against us are paid out.

As we are an electronic money institution and not a bank, your money is not covered by the Financial Services Compensation Scheme. That’s because it’s safeguarded instead.

Our obligations to “safeguard” your money kick-in when we receive the funds, or after five days if we have issued you electronic money but have not received the funds by then. For example, if you receive a bank transfer, we receive the funds right away so our obligation to safeguard them starts right away too. However, if you top up your Revolut account using your stored card, we may not be paid the funds by the issuer of your stored card until a few days later. In this case, our obligations to safeguard those funds begin upon the earlier of us receiving the funds or five days passing after your top-up.

Our obligations to “safeguard” your money end when you have spent it and it has been paid out on your behalf.