Now that Revolut is a bank, how is my money protected?
Funds will be deposited with Revolut Bank UK Ltd (Revolut Bank) and, if your business is eligible, will be protected by the Financial Services Compensation Scheme (FSCS). To find out more about your business’ eligibility, see the FSCS Information Sheet and Exclusions List.
Depending on your category of business, your deposits might not be eligible for protection under the FSCS scheme.
Excluded categories of business
- Credit institutions
- Financial institutions
- Investment firms
- Insurance undertakings
- Reinsurance undertakings
- Collective investment undertakings
- Pensions or retirement funds
- Public authorities, other than small local authorities
The funds in your e-money account were previously safeguarded by Revolut Ltd under the electronic money regulations. Safeguarding helps protect you if Revolut Ltd were to become insolvent.
Once your Business account has been transitioned to Revolut Bank, safeguarding will no longer apply to your funds.
FSCS protection limit
How the protection limit is applied can be different depending on whether your business is a limited company, limited liability partnership, or if you're a sole trader.
- If your business is a separate legal entity — for example, a limited company or limited liability partnership — eligible deposits up to £120,000 held with Revolut Bank will be protected by FSCS. This protection is separate to any eligible deposits you may hold in your personal Revolut bank account
- If you’re a sole trader, your personal and business finances are treated as one entity under FSCS and the protection applies to the total of both your personal and business deposits held with Revolut Bank up to £120,000
Business savings
For more information on how FSCS applies to your Business Savings, read this article.
You can learn more about FSCS protection on the FSCS website.