What happens to my money if Revolut goes bust?

Has anyone lost money with Revolut?

'I lost £165k to fraud in an hour' - customers say they were let down by Revolut. A man who had £165,000 stolen from his Revolut business account by fraudsters has told BBC Panorama he believes the company's security measures failed to prevent the theft.

Is Revolut bank in trouble?

Oct 14 (Reuters) - London-based digital finance firm Revolut's UK banking licence is being held up due to regulators' concerns over whether its risk controls can keep pace with the rapid growth of its overseas operations, the Financial Times reported on Tuesday.

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.

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.

What is the downside of Revolut?

The main downside is the one you've identified - you'd be giving Revolut access to additional data from your bank account(s). Now of course they shouldn't do anything with that data other than provide the service you've asked for.

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.

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.

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.

Can Revolut freeze my account?

At Revolut, our top priority is to keep your money safe. And this means we may, very rarely, need to restrict accounts.

Will Revolut refund me if I get scammed?

However, Revolut still follows a structured process to evaluate fraud reports and may issue refunds depending on the circumstances of the case. If you've been scammed, it's crucial to report it to Revolut as quickly as possible.

Who does Revolut belong to?

Revolut Group Holdings Ltd, known as Revolut, is a global financial technology company headquartered in London and founded in July 2015 by Nik Storonskiy and Vlad Yatsenko. As of 2025, Revolut operates in over 48 countries and has 65 million customers. It was valued at $75 billion in November 2025.

What is the safest online payment method?

Credit Cards

Credit cards are another of the safest payment methods to use when buying online. Held by more than 80% of American consumers, credit cards offer a range of inherent features to protect users. Encryption makes it harder for criminals to intercept a user's credit card information during online transactions.

Is it safe to give Revolut my SSN?

We use secure data centres with restricted access to store and process your data. Data transmissions between our mobile apps, servers, and third parties are encrypted.

How much money can you transfer before it gets flagged?

The IRS reporting threshold: The $10,000 rule

But this rule isn't about taxing you — it's part of anti-money laundering laws designed to flag suspicious activity. If you transfer or receive more than $10,000, the bank automatically files a Currency Transaction Report (CTR) with the government.

How much cash can I put in my Revolut?

Fees, limits, and timeframes

Cash deposits are limited to: £500 per deposit. £750 per calendar day. £2250 per calendar month.

Is it safe to leave money in Revolut?

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 £120,000 per person, per bank, by the FSCS.

Should I be taking my money out of the bank in 2025?

Yes, your money is safe in the bank as long as it's in an FDIC-insured institution, and we recommend keeping it there in 2025. See our list of the safest banks in the U.S. During times of economic uncertainty, it's common to worry about your security.

What is the riskiest bank in the UK?

Connect and the Research Institute for Disabled Consumers to share their experiences of using banking services in March 2023. First Direct and Nationwide achieved the highest customer scores, while Barclays and TSB were the worst-rated banks.

Which countries do not support Revolut?

Countries and territories that aren't supported

• Blocked countries: Belarus, Cuba, Islamic Republic of Iran, Libya, Myanmar, North Korea, Russia, Syrian Arab Republic (Syria), Venezuela (Bolivarian Republic), Zimbabwe.
• Blocked territories: Crimea, Donetsk, Kherson, Luhansk, Zaporizhzhia.