Is Revolut safe for storing money?

Can someone take money from my Revolut account?

If you're concerned your card has been compromised, freeze your card immediately. If you believe your account has been used fraudulently, fill out a chargeback form and we'll help you resolve the issue.

Has Revolut been hacked?

In 2022, Revolut also suffered an unauthorized entry attack that resulted in the theft of the personal data of over 50,000 customers. This attack scenario fits with the DBIR findings of system intrusion, with stolen credentials likely to be the entry mechanism.

What is the downside of Revolut?

It is also important to note that Revolut is a digital only provider, so there are no branches or call centres and customer service is likely to be limited for those with the free account. Revolut's exchange rates may also sometimes be less competitive than other providers.

Is it safe to have 100k in Revolut?

All your deposits held with Revolut Bank UAB are aggregated and the insurance coverage limit of EUR 100,000 applies to the total amount of your deposits.

What happens to my Revolut savings if Revolut fails?

If an e-money institution (like Revolut) fails, the customers' claims will be paid from the safeguarding account. This is because the e-money institution cannot lend the money it has received from one person to another, so it should have enough money in its safeguarding accounts to cover its debts to its customers.

Which is safer, PayPal or Revolut?

Safety & security

Both Revolut and PayPal are safe to use and protect your money during transfers. PayPal uses encryption to secure your information and offers buyer and seller protection for purchases. They're regulated by financial authorities and have established fraud prevention systems.

Is Revolut safe in 2025?

Revolut is regulated by the Financial Conduct Authority (FCA) in the UK and is well on its way to becoming a licenced UK bank. It also has some impressive security features, which should provide reassurance that the money app is safe to use.

What is the controversy with Revolut?

Revolut has been fined €3.5 million by the Lithuanian central bank over alleged deficiencies in its AML controls. Regulatory authorities found that the neobank failed to implement adequate controls to prevent money laundering and related financial crime.

Is it safe to have large amounts of money in Revolut?

As an authorised financial institution compliant with Electronic Money Regulations, 100% of your main account balance is safeguarded.

Does Revolut report to the IRS?

What is FATCA? The Foreign Account Tax Compliance Act (FATCA) requires Revolut to identify any customers that may be US persons and report account information to the local authorities for onward transmission to the US Internal Revenue Service.

Which is safer, Revolut or Monzo?

If you want a full banking experience with FSCS protection, simpler fees, and strong UK support, Monzo is the safer choice. But if your priority is international payments, multi-currency accounts, and global features, Revolut may suit you better.

What is the maximum amount you can Revolut?

Transfer limits to send money

• Limit on the value of a single payment is 100,000 EUR.
• If you go over this limit, or if the recipient's bank doesn't support this kind of payment scheme, your transfer will be processed as a normal SEPA Credit Transfer. This can take up to 2 days to arrive.

Can I receive large amounts of money into my Revolut account?

Yes, you can receive large transfers with Revolut just as easily as you can send them. Whether you're selling a property or receiving an inheritance, simply give the sender your Revolut account details to have the money deposited into your account.

Is Revolut good for large amounts?

Our maximum fees are capped, so you don't need to worry if you're sending large amounts of money. External banks may charge non-Revolut transfer fees that we can't foresee. You'll pay a small card transfer fee when you send money to someone's card account.

Why is Revolut declining?

The account associated with the payment method used doesn't have sufficient funds to make the payment. The customer's bank doesn't allow the cardholder to make the payment. The transaction has been declined due to high risk. This can be a trigger from both the issuing bank and internal Revolut tools.

Can I use Revolut as my main bank account?

We're authorised under the UK Electronic Money Regulations and regulated by the Financial Conduct Authority (FCA). Being an e-money institution allows us to provide you with an everyday account that you can use to manage your money in a range of ways, but Revolut is not a bank.

Is it better to use Revolut or debit card abroad?

Revolut is a good option for spending abroad because they don't charge any fees for foreign transactions. You can enjoy your travels without worrying about extra expenses. Keep in mind that merchants can add their own charges at any time, but they're not defined by Revolut.

Are there better alternatives to Revolut?

Wise is one of the most versatile Revolut alternatives, especially if you send or spend money abroad often. But each platform has its strengths. Use this guide to compare your options and choose the one that best matches your lifestyle and wallet.

How do I not get scammed on Revolut?

How can I keep my account safe from fraud?

1. Be wary of 'too good to be true' offers.
2. Never share PINs, passwords, or passcodes via phone or chat.
3. Verify websites and sellers through reviews.
4. Inspect high-value items in person or via video call with documentation.
5. Type URLs directly, avoid unsolicited links.

Is there a problem with Revolut now?

According to the official Revolut status page, the service is currently up . For the most recent updates, check the 'Recent Outages and Issues' section above. Whether Revolut is down now or facing minor problems, StatusGator keeps you in the loop with instant alerts on issues.