How to cancel your payment account

Can I cancel my payment account with an active loan?

You can close your payment account even if you have an active personal loan, however, you must set up a SEPA Direct Debit from an external bank account. This ensures your repayment plan remains unchanged and secure, even without an active Revolut account.

To close the account, also ensure there are no other restrictions, such as positive or negative balances, pending transactions, or active products and investments (like Crypto assets or Kids & Teens accounts).

If you have a package account, and the reason to close it is to reduce costs, you may also downgrade to a standard account and keep your payment account open.

How do I set up SEPA Direct Debit?

Go to 'Home' on the bottom menu
Below your balance, tap 'Accounts'
Choose the loan you want to manage
Tap 'Info'
Go to 'Repayment details' and select 'Manage'
Select the account where you want to pay your loan from

Once this payment method is active and verified, you can follow the steps to close your personal account.

Service provided by Revolut Bank UAB, registered with the Bank of Portugal under number 3504.

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