How are the funds in my Savings Accounts protected?
All deposits made to your Savings Accounts are held on trust for you, subject to the Revolut Savings Accounts Terms, the Trustee Terms and the Trust Deed. To read the Trustee Terms and learn more about who the trustee is: tap the account selector below your balance → scroll down and select your Savings Account → tap the 'Details' button → check the 'Documents' section.
Any money you put in a Savings Accounts is deposited with the partner bank, by the trustee, on your behalf. While there, it will always be held in a segregated trust account. Any trust account in which your money is held will be operated by the trustee on your behalf, pursuant to the instructions that you provide in the Revolut App. The bank is the deposit taker, not the trustee or Revolut.
We've partnered solely with banks that are part of the Deposit Guarantee Scheme (DGS). This means that, if you're eligible, your Savings Accounts deposits are protected up to €100,000 per person, per bank, by the DGS. If you have a separate account with the bank outside of Revolut, that account will also contribute to the total amount of your cover. You can find out more on the DGS website.
To check which bank(s) your deposits are held with and see the details of your protection: tap the account selector below your balance → scroll down and select your Savings Account → tap the 'Details' button → check the 'Documents' section.