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How are the funds in my Savings accounts protected?

How does Revolut ensure my account with Clearbank is safe?

For GBP savings with Clearbank, Revolut makes sure that all your deposits in your Savings accounts are held with Clearbank and protected up to a limit of £85,000 across all your Clearbank-powered accounts. To find out more about the FSCS protection in the Revolut mobile app:

  • Go to 'Home' on the bottom menu
  • Under your balance, tap 'Accounts'
  • Select your Savings account
  • Tap 'Info'
  • Tap the information button near 'FSCS protection'
  • Select 'Open protection document'

How does Revolut ensure my other Savings accounts are safe?

Revolut ensures that all deposits in your other Savings accounts are held in a trust, adhering to our Savings accounts Terms, Trustee Terms and the Trust Deed. To gain a deeper understanding of these protections and how we keep your savings safe, and to learn more about the trustee:

  • Go to 'Home' on the bottom menu of the main Revolut app
  • Under your balance, tap 'Accounts'
  • Select your Savings account
  • Tap 'Info'

How Revolut handles your deposits

For GBP savings with Clearbank, the money you deposit to your Savings account is transferred instantly to Clearbank in most of the cases. Money you deposit in other Savings accounts is placed (by the trustee) with a partner bank on your behalf.

It's always held in a segregated trust account operated by the trustee, ensuring your funds are secure. The bank acts as the deposit taker, not the trustee or Revolut, providing an added layer of security.

Financial Services Compensation Scheme (FSCS)

Revolut has partnered with banks that are part of the Financial Services Compensation Scheme (FSCS). If eligible, your Savings accounts deposits are protected up to £85,000 per person, per bank, by the FSCS.

If you have another account with the same bank outside of Revolut, that account will also count towards the total FSCS cover. You can learn more on the FSCS website.