Can you trust Revolut?

Revolut is safe, with robust digital security measures, and partnerships with insured banks to keep customer money protected.

Is my money safe with Revolut?

Your money, protected

We've been guarding funds like the crown jewels since 2015. How? Your money is held in a safeguarded account with a regulated bank or in high quality liquid assets. Your savings are deposited with partner banks.

How reliable is Revolut?

1 minute summary - Revolut Review

All Revolut plans (including paid-for plans) restrict the amount of fee-free ATM withdrawals each month. Rated 'Excellent' on Trustpilot with a score of 4.2/5.0 stars.

How credible is Revolut?

Is Revolut safe? Yes, security is our top priority. We're trusted by 35+ million global customers to look after more than $15 billion in deposits. In the EEA, Revolut Bank UAB is licensed and regulated by the Bank of Lithuania and the European Central Bank as a credit institution.

What are the disadvantages of using Revolut?

While Revolut doesn't offer a full banking service (no overdraft or credit, and you can't pay in cash or cheques) it will suit those who need an account for travel and foreign exchange services at decent rates, but who don't need to use it as a day-to-day bank account.

Can We Trust Revolut? Neobanks explained

Why not to use Revolut?

Deposit Protection is Limited: Unlike traditional banks, Revolut's deposit protection is limited. Although savings in a Revolut account are protected up to a specific amount, they are not covered by government-backed deposit insurance programmes. This may be of concern to those looking for increased deposit security.

Which is safer PayPal or Revolut?

PayPal is still fantastic at what it was made to do - facilitating online shopping and making secure transfers. Revolut, meanwhile, is a good option if you're looking for a digital bank account, along with access to other financial services such as investing and cryptocurrency.

What happens if Revolut goes bust?

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.

Why is Revolut asking for my SSN?

Without a U.S. tax identification such as a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), you won't be able to access some of the features available to Revolut customers, like Stocks, Savings Vaults (FDIC Insured), Credit Cards, Personal Loans, Premium or Metal plans.

Does Revolut work like venmo?

Revolut. Similar to Venmo and Cash App, Revolut is a mobile money transfer app that makes it easy to split bills, send money, and receive funds from others in just seconds, in as many as 25+ fiat currencies. With your unique username, you can request money from others or collect payments even from those not on the app.

Can I use Revolut in USA?

Using your UK Revolut account in the US

The simple answer is yes. You can use the app to send and receive money, and use your Revolut card to spend while overseas.

What countries are not supported by Revolut?

We do not currently support transfers from the following countries (this list may change at any time): Afghanistan, Algeria, Bahamas, Belarus, Bolivia, Burkina Faso, Burundi, Central African Republic, Congo (the Democratic Republic of), Côte d'Ivoire, Cuba, Egypt, Eritrea, Eswatini, Ethiopia, Guinea, Guinea-Bissau, ...

Does Revolut have a monthly fee?

As we've seen, the costs of maintaining and using a Revolut account depends on the plan you have. Standard accounts have no monthly fee, but have lower no-fee transaction limits compared to Premium or Metal accounts.

Can you get money back from Revolut if scammed?

Merchant Initiated Payments made using Pay with Revolut are collected from your account based on a consent you have given in the past. If you think a Merchant Initiated Payment has been taken from your account in error, you can ask us to refund it within 8 weeks of it being paid.

Should I use Revolut as my main bank?

Generally speaking, if you don't visit a bank branch more than once a month (for whatever reason), having a Revolut account might work for you as your regular day-to-day account. But there are of course other points to consider… Verdict: If you don't need a branch, Revolut might be for you.

Is Revolut like PayPal?

It offers similar features to PayPal, allowing users to send and receive money, make online payments, and integrate with e-commerce platforms. Revolut also provides additional features like virtual cards and disposable virtual cards, making it convenient for online shopping.

How do I not get scammed on Revolut?

Why is everyone using Revolut?

But what are the advantages of using Revolut? – Transparency in exchange rates. It is possible to automatically convert the balance from one currency to another and without exchange fees (at the real exchange rate); – The biggest savings in exchange rates are within the app itself.

Is it safe to give Revolut my SSN number?

100% confirmed - Revolut does not do a credit pull (soft or hard) at all when you provide your SSN upon downloading the app.

Does Revolut ruin your credit score?

Checking your rate generates a soft credit check. A soft credit check, sometimes known as a soft inquiry or soft credit pull, allows us to review information from credit bureaus which are needed to make a personalized offer and rate. Soft credit checks don't have any impact on your credit score.

Is Revolut being hacked?

Revolut data breach exposes information of 50,000 customers

The data breach was caused by a social engineering attack. Malicious actors accessed data including names, addresses, email addresses and partial payment card information during the cyber attack, although Revolut has stated that card details were hashed.

Does Revolut get hacked?

In the case of Revolut, the process exploit was not the only cyber breach experienced by the company. In 2022, Revolut also suffered an unauthorized entry attack that resulted in the theft of the personal data of over 50,000 customers.

Is wise better than Revolut?

While the Wise platform tends to focus on low fees, Revolut's strength lies in the versatility of banking services. Both systems offer a variety of financial benefits, it just depends on your top business needs. If you're in need of a successful payments platform, it's essential to perform a little legwork first.

Is Revolut trustworthy reddit?

For the main and only bank account Revolut is not the best option. KYC and Compliance are stricter than normal banks. If you just use it normally ( get salary, pay for stuff) it is fine but if you expect to receive monthly payments from other people for example, you may have a problem.

Is it safe to link bank account to Revolut?

Yes. There are stringent security measures to safeguard your personal data that passes through eGIRO scheme. Your data is encrypted. Only the bank and billing organisation (Revolut) are able to decrypt the data to execute the transactions that you requested.