How does Revolut keep my money safe?
How Revolut safeguards your money varies depending on the Revolut entity you’re registered to. To find out which Revolut entity you're registered to:
- Click on the 'Profile' icon (top left of the Home screen) in-app
- Scroll to the bottom of the page
- Find the name of the Revolut branch you’re registered to at the very bottom of the page
If you're registered with the Revolut LTD entity:
As an electronic money institution, we're required to safeguard money we receive from, or on behalf of, customers like you.
Safeguarding means that we deposit the money we receive from you, or for you, into a client money bank account. The money in these client accounts is held by us on your behalf. We have client accounts with a range of large banks (that meet our and our regulator's requirements).
These safeguarding measures protect you against loss caused by possible risk factors. For example, if Revolut became insolvent, the money in these accounts would be used to pay you (and our other customers) out before anyone else.
Because the account you hold with us is an electronic money account (not a bank account), your money isn't covered by the Financial Services Compensation Scheme.