Revolut
Weighted across nine legal categories. Lower is worse.
Executive summary
Revolut's Personal Terms are unusually readable for a financial agreement, with plain English question headings and a clear explanation of what an e-money account is and how your money is safeguarded. You get strong protections that most consumer contracts never offer: two months' notice before the terms change or before your account is closed for ordinary reasons, statutory refund rights for unauthorised and unexpected payments, scam reimbursement, and free access to the Financial Ombudsman Service if a complaint goes wrong. There is no forced arbitration, no class action waiver, and no grab at content you create. The weaker areas are liability and money control: Revolut disclaims responsibility for losses from currency exchanges, refused or delayed payments, and payments you send to the wrong person, limits card failures to simply replacing the card, and can take money you owe from any of your accounts at any time without notice. Your money is also not covered by the Financial Services Compensation Scheme, and a closed account holding a small balance can be eaten by fees.
Category breakdown
Acceptance of Terms & Scope
Contract formation and service boundaries
The agreement opens by telling you exactly why it matters, who the parties are, and that Revolut Ltd is an FCA authorised e-money issuer with its firm reference number stated. Age rules are explicit, with 18 as the normal minimum and a separate written schedule for 16 to 17 year olds. Scope is defined clearly around the Personal Account and extends to other Revolut e-money accounts, which each carry their own additional terms you must accept separately. The main deduction is that several documents that form part of the legal agreement, including the Fees Page and other product terms, sit outside this text, so you cannot read the whole deal in one place.
Key findings
- Plain English throughout, with sections written as questions a customer would actually ask
- Age requirement is clear: normally 18 or over, with 16 and 17 year olds allowed only under the written restrictions in Schedule 1
- Revolut identifies itself as an FCA authorised e-money issuer with firm reference number 900562 and company number 08804411
- The terms apply across every channel, app, web, API and any other means, not just the mobile app
- The Fees Page and other product terms form part of the agreement but are hosted separately, so the full contract is spread across multiple documents
- You can request a copy of the terms through the app at any time
Evidence from the document
Normally, you must be 18 or over to open an Account. If you are 16 to 17 years old, you may be eligible to open an Account with restrictions.
We are a UK company which is authorised to issue e-money by the Financial Conduct Authority (the financial regulator in the UK) under the Electronic Money Regulations 2011.
These terms apply whenever and however you access our services.
You can ask for a copy of these Terms through the Revolut app, at any time.
Recommendations
- Read the Fees Page alongside these terms, because it is part of the legal agreement and carries the numbers this document leaves out
- If you open a Joint Account, Pro Account or a paid plan, read the extra terms for each one, as they add obligations this document does not spell out
- If you are 16 or 17, read Schedule 1 first, since it removes access to trading, crypto, credit, paid plans and open banking
User Accounts
Registration, suspension, and termination
Closure rights are better than the industry norm. You can close your account at any time, and if Revolut closes your account for ordinary reasons it must give you two months' notice through the app. Immediate closure is limited to a written list of exceptional circumstances such as suspected fraud, serious or persistent breach that you failed to fix, or a court order, and you can still move your money out before it happens. Points come off for a vague reputation and goodwill trigger, for the fact that your transaction history disappears from the app unless you download it first, for a permanent ban on ever reopening a Personal Account, and for fees that can consume a small leftover balance.
Key findings
- You can close your account at any time through the app, by post or by email
- Ordinary closure requires two months' notice, and immediate closure is limited to an enumerated list of exceptional circumstances
- One trigger is broad and subjective: Revolut can act if it believes your continued use could damage its reputation or goodwill
- You keep access to your money for six years after closure through customer services
- Account statements and transaction history stay available only while you are a customer, so you must download records before closing
- If Revolut has ever closed a Personal Account in your name, you cannot open a new one
- A remaining balance of £1 or less can be swallowed by an automatic £1 fee, and a positive balance in a closed account can attract an ongoing administration fee
Evidence from the document
We may close or suspend your Account immediately (including access to other Revolut services like trading, crypto, and precious metals), in exceptional circumstances.
if we have reason to believe that you continuing to use your Account could damage our reputation or goodwill;
If you need to keep a copy of the information after your Account is closed, you will need to download it while your Account is still active.
We will usually give you two months’ notice to withdraw any remaining Account balance unless there are reasons preventing the transfer, or we decide to close your Account immediately.
Recommendations
- Download your full transaction history and statements from the app before you close your account, because they are not available afterwards
- If you get a closure notice, move your entire balance out inside the two month window and check for any leftover pennies that fees could consume
- If you believe a suspension or closure was wrong, use the formal complaints process and then the Financial Ombudsman Service, both of which are free
Intellectual Property & UGC
Content ownership and licensing
This agreement makes no claim on anything you create. Revolut states that it owns the intellectual property in its own app, website, logo and card designs and asks you not to pass that off as your own or reverse engineer it, which is a narrow and standard position. Even though the app includes social features such as Revolut Messenger and profile pictures, there is no licence grant taking rights over your messages, photos or other content, which is a meaningful positive compared with most consumer platforms. The score is held below the top band only because the document is silent on who owns anything you upload, so your position rests on general law rather than a stated commitment.
Key findings
- No user content licence is granted anywhere in the document, so Revolut does not claim rights to reuse, modify or sublicense what you post
- Revolut's own IP claim is limited to its app content, website, logo and card designs
- You are restricted from reverse engineering Revolut products, which is standard for a financial app
- Social features exist, including Revolut Messenger, profile pictures and group pockets, without any accompanying content rights grab
- Google Maps content inside the app is governed by Google's own terms and privacy policy
- The document does not state that you own the content you create, so ownership is left to general law rather than contract
Evidence from the document
we own all the intellectual property in our products (for example, the content in our app and on our website, our logo and card designs).
You must not use our intellectual property as your own, except to enjoy our products.
You also must not reverse-engineer any of our products
The Revolut app displays Google Maps features and content, which includes intellectual property that doesn’t belong to us.
Recommendations
- Treat Revolut Messenger as a payments chat, not a private archive, since the terms say nothing about how long messages are kept or who can see them
- Choose a profile picture you are comfortable other customers seeing, because other users can find your name and picture by searching your username
Data Privacy
Data collection, usage, and protection
Privacy is handled almost entirely by reference to a separate Customer Privacy Notice, so this document itself gives you very little detail about what is collected, how long it is kept or who it is shared with. What it does say is reassuring in places: processing is tied to providing the services, your rights under data protection law are expressly preserved, open banking authorisation credentials are not stored, and you can change your privacy settings at any time. Against that, you are asked to acknowledge that other customers can see your name, profile picture and plan, that your data may go to fraud prevention agencies and debt collectors, and that Revolut may share your information with someone who claims a mistaken payment. The score sits in the middle band because the substantive privacy commitments live outside the text scored here.
Key findings
- Detailed privacy practices are pushed to a separate Customer Privacy Notice that is not part of this document
- Processing is tied to providing the services, and your statutory data protection rights are expressly left intact
- Identity and credit checks are run when you open an account, using information about you and the source of your money
- Social features expose your name, profile picture and plan to other Revolut customers, with privacy settings you can adjust in the app
- Open banking authorisation data is expressly not stored, and account information pulled from other banks is analysed to produce spending insights
- Your information may be shared with fraud prevention agencies, debt collection agencies, or someone making a legal claim over a mistaken payment
Evidence from the document
you acknowledge that we will gather, process and store your personal information for the purpose of providing our services to you. This doesn’t affect any rights and obligations you or we have under data protection law.
other Revolut customers may be able to see limited information about you (such as your name, profile picture and the Revolut plan you are on)
You can change your privacy settings in the Revolut app at any time.
We will analyse this information to provide spending insights to you (like suggesting how you might be able to save money).
informing fraud prevention agencies where permitted;
Recommendations
- Read the separate Customer Privacy Notice, because this agreement carries almost none of the actual detail on collection, retention and sharing
- Open the privacy settings in the app and restrict what other Revolut customers can see about you, including whether you are discoverable by username
- If you link accounts from other banks through open banking, review and revoke that consent in the app when you no longer need the spending insights
Payment & Subscriptions
Billing and subscription management
Fee transparency is good: the terms promise that any fee is shown in the app before you make a payment, receiving money is free, and local payments in your base currency are free. Refund mechanics are genuinely strong because UK payment rules are written into the document, giving you an unconditional eight week refund on SEPA direct debits, an eight week refund route for unexpected card charges and merchant initiated payments, and thirteen months to report an error. The score is pulled down by a broad right of set off that lets Revolut take money you owe from any of your accounts at any time without notice, by fees that can consume a small closing balance, and by an administration fee on closed accounts. Paid plan pricing is not in this document at all, so subscription terms could not be fully assessed.
Key findings
- Fees are disclosed in the app before each payment, and there are no charges for receiving money or for local payments in your base currency
- Strong statutory refund rights are written in: unconditional SEPA direct debit refunds within eight weeks, refunds for unexpected card charges within eight weeks, and a thirteen month reporting window for errors
- APP scam reimbursement is offered for eligible payments from 7 October 2024, with a £100 excess and an £85,000 cap, assessed usually within five working days
- Revolut can take money you owe from any account you hold, at any time, without notice or demand, and can recover debts through collection agencies, legal proceedings or selling the debt
- Currency exchange risk sits entirely with you, since the rate can move between your instruction and the conversion
- Fees and limits keep applying after closure, with a £1 minimum transfer fee and an administration fee on closed accounts holding a positive balance
- Paid plan pricing and cancellation terms live in a separate Paid Plan Terms document not included here
Evidence from the document
We’ll always show you any fee that applies to a payment in the app before you make the payment, and you can also see our current fees on our
we may, at any time, without notice or demand take the amount you owe us from any amount we are due to pay to you including any other Account you hold with us either solely or jointly.
you will be entitled to an unconditional refund if you contact us within eight weeks of the date the payment was taken out of your Account.
This fee covers the costs of maintaining your closed Account.
Each claim is subject to a £100 excess, with a maximum reimbursement limit of £85,000.
Recommendations
- Check the fee shown in the app before confirming any cross border or card transfer, since fees vary by amount and destination
- If a merchant collects a payment you did not expect, ask Revolut for a refund inside the eight week window rather than only chasing the merchant
- Keep your balance out of the negative, because Revolut can recover what you owe from any of your accounts without warning you first
- Empty a closing account fully, since a leftover balance of £1 or less is charged away automatically
Limitation of Liability
Risk allocation and legal protection
Revolut keeps the liability that UK law will not let it shed, including for death or personal injury caused by its negligence and for fraud, and it commits to refunding unauthorised payments and payment errors on its side. But the document is dotted with disclaimers that push a lot of everyday risk back onto you. Revolut says it is not responsible for losses from currency exchanges, from payments returned in a different currency, from refusing or delaying a payment, or from paying the person you named even if you named the wrong one. Most striking is the card clause: if your card stops working for any reason, the only remedy stated is a replacement card, no matter what that failure cost you while abroad or at a checkout.
Key findings
- Liability for death or personal injury from negligence, and for fraud, is expressly preserved and cannot be limited
- Liability is capped in kind rather than in money, limited to losses that were foreseeable when the agreement was made
- If your card fails for any reason, the stated remedy is limited to replacing the card
- Revolut disclaims responsibility for losses caused by refusing or delaying a payment, even though it can refuse for a long list of reasons
- Currency exchange losses, losses from payments returned in a different currency, and losses from paying the wrong person on your instruction are all excluded
- Confirmation of payee results are disclaimed because the data comes from the receiving bank, so the payment decision stays your risk
- Your money is not protected by the Financial Services Compensation Scheme, relying instead on safeguarding in client money accounts
Evidence from the document
If you can't use your Revolut Card for any reason we will only be responsible to you for replacing the card.
We won't be responsible for any losses you suffer as a result of us refusing or delaying a payment.
We’re not responsible if you lose any money as a result of a currency exchange.
We are not responsible if we make a payment to the person you tell us to, even if you gave us the wrong account number, username or phone number by mistake.
Nothing in these Terms removes or limits our liability for death or personal injury resulting from our negligence or from fraud or fraudulent claims and statements.
Recommendations
- Carry a backup payment method when travelling, because a card failure entitles you only to a replacement card
- Send a small test payment to any new recipient first, since Revolut is not responsible if you give it the wrong account details
- Understand that safeguarding is not FSCS cover, and keep balances you cannot afford to have frozen in a fully protected bank account
- Report anything suspicious immediately, because the refund rights that survive these disclaimers depend on prompt notification
Indemnification
Legal responsibility allocation
There is no classic defend, indemnify and hold harmless clause here, and no long list of protected affiliates, officers and agents. Instead a single short section makes you responsible for losses Revolut suffers, but only where you have broken the terms, which is a fault based trigger rather than the much worse mere use of the service trigger. Revolut also promises to try to keep those losses to a minimum, limits legal costs to reasonable ones, and blocks double recovery. What keeps this out of the top band is that the exposure is uncapped, one way with nothing owed back to you, and expressly extends to Revolut's lost profits, which is aggressive for an individual consumer.
Key findings
- No defend, indemnify and hold harmless language and no extended list of indemnified affiliates or agents
- The trigger is fault based, requiring that you have broken the terms and caused a loss
- Exposure is uncapped and expressly includes Revolut's lost profits, which is unusual against a consumer
- Legal costs you can be charged are qualified as reasonable, and double recovery for the same loss is excluded
- Revolut commits to trying to keep the losses to a minimum, a mitigation duty most consumer contracts omit
- There is no reciprocal promise from Revolut to cover claims brought against you
- Separate cost recovery provisions add debt collection costs and legal costs if you owe money and do not repay
Evidence from the document
If you have broken these Terms, and this has caused us to suffer a loss, the following will apply:
you will be responsible for any losses we suffer as a result of your action (we will try to keep the losses to a minimum);
if your actions result in us losing profits, you may also be responsible for those losses.
you will also be responsible for any reasonable legal costs that arise as a result of our losses.
Recommendations
- Stay inside the account rules, especially the ban on business use of a Personal Account, since breaching the terms is what switches on this liability
- If Revolut ever claims losses from you, ask for the itemised basis and challenge anything beyond reasonable legal costs and directly caused loss
- Get advice before paying any claimed lost profits, because such demands against consumers face fairness challenges under UK consumer law
Modification of Terms
How agreements can be changed
This is the strongest part of the agreement and sits well above the consumer internet norm. Revolut lists the specific reasons it may change the terms rather than reserving an open ended right, gives two months' notice through the app before any change takes effect, and lets you close your account before the change lands if you do not accept it. The document is dated, states separate effective dates for new and existing customers, and links to the previous version so you can compare. The only real weakness is that silence is treated as agreement, so if you miss the in app notice the new terms apply to you automatically.
Key findings
- Changes are permitted only for a listed set of reasons, not at unlimited discretion
- Two months' advance notice is given through the app before any change takes effect
- You can reject a change by closing your account before it comes into force
- The terms are dated and separate effective dates are given for new and existing customers
- A link to the previous version is provided, so you can check what actually changed
- Consent is inferred from silence, so missing the notification means the change binds you
- New products or services that do not change your account terms can be added immediately with notice before you use them
Evidence from the document
We'll only change these Terms for the following reasons:
Otherwise, we'll give you two months' notice through the Revolut app before we make any change.
We'll assume you're happy with the change unless you tell us that you want to close your Account before the change is made.
The Personal Terms were updated on 11 December 2025. For new customers, this version is effective immediately. For existing customers, this version will come into effect on 13 February 2026.
Recommendations
- Keep app notifications switched on, because notice of term changes is delivered in the app and silence counts as acceptance
- When a change notice arrives, compare it against the linked previous version rather than rereading the whole document
- If you object to a change, close the account before the effective date, since that is the only rejection route offered
Governing Law & Disputes
Jurisdiction and conflict resolution
There is no forced arbitration, no class action waiver, no jury trial waiver and no shortened claim deadline, which removes the entire stack of provisions that usually destroys consumer recourse. Better still, the terms hand you a free and independent route to the Financial Ombudsman Service, with the address and phone numbers printed in the document, plus the option to complain to the Financial Conduct Authority about payment services. The complaints process itself is spelled out with what you need to provide. The deductions are that English law and the exclusive courts of England and Wales are imposed with no savings clause for the mandatory consumer protections of your own country, which matters if you live outside the UK, and that the six month window to escalate to the Ombudsman is easy to miss.
Key findings
- No mandatory arbitration, no class action waiver and no jury trial waiver anywhere in the document
- Free access to the Financial Ombudsman Service is set out with full contact details, plus the Online Dispute Resolution platform
- You can also complain to the Financial Conduct Authority about payment services into and out of your account
- The internal complaints process is described, including exactly what information to give and that Revolut responds by email
- English law governs and only the courts of England and Wales may hear claims, with no savings clause for local mandatory consumer rights
- Complaints must be referred to the Ombudsman within six months of Revolut's final response
- If the terms are translated, only the English version legally applies
Evidence from the document
The laws of England and Wales apply to these Terms.
If you want to take legal action against us in the courts, only the courts of England and Wales can deal with any matter relating to these Terms.
If you are unhappy with how we have dealt with your complaint, you can refer it to the Financial Ombudsman Service within six months of the date we sent (or should have sent) our final response to you:
If your complaint is about our service relating to payments into and out of your account, you can also make a complaint to the Financial Conduct Authority.
If these Terms are translated into another language, the translation is for reference only and the English version will apply.
Recommendations
- Use the free Financial Ombudsman Service before considering court, and diarise the six month deadline from Revolut's final response
- Send complaints through the formal route, the in app chat, the complaints form or formalcomplaints@revolut.com, so the clock starts and you have a record
- If you live outside the UK, check which Revolut entity holds your account, since this document imposes English courts and may not be the agreement that covers you
Ex-TerCo provides automated analysis of legal documents for informational purposes. This is not legal advice. Terms can change at any time.