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Does Revolut hold the money in the Savings Accounts?

Revolut does not hold the money you put in Savings Accounts. Your money is deposited with Revolut's partner bank, Sutton Bank.

Any funds you deposit in your Revolut Savings Account are held by Sutton Bank, which means your funds are fully insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.

This means that if Sutton Bank was to fail you are guaranteed by the FDIC to receive back any eligible deposits you have made with the particular bank (through Savings Accounts or otherwise) up to $250,000.

The total value of deposits that the FDIC covers and your eligibility for coverage may change from time to time. You can read more about FDIC protection from the FDIC’s website.