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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →For a UK customer, the answer depends on which Revolut legal entity holds your money and what product you use. Eligible deposits at Revolut Bank UK Ltd are covered by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per authorised firm. A balance held in an e-money account with Revolut Ltd is safeguarded under a different arrangement; it is not an FSCS-insured bank deposit. Savings, investments, crypto and commodities can have still different providers and protections.
Revolut Bank UK Ltd began its staged UK bank launch in March 2026, so a Revolut-branded account is not automatically a bank account yet. Check the entity and account type shown in your app before deciding how much protection applies.
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Start with the legal entity, not the brand name
“Revolut” is a group of regulated businesses rather than one single account type. In the UK, the distinction that matters most is between Revolut Bank UK Ltd and Revolut Ltd:
- Revolut Bank UK Ltd: a UK-authorised bank. Eligible deposits held with it can qualify for FSCS protection.
- Revolut Ltd: an electronic-money institution. Its customer money is safeguarded, but that is not the same as FSCS deposit insurance.
The bank licence was cleared for launch in March 2026 after the Prudential Regulation Authority (PRA) lifted the remaining restrictions. The rollout is gradual. Revolut’s UK guidance says customers are moved from e-money accounts to bank accounts in stages and are notified before migration. Existing customers therefore may have different legal entities on the same app at the same time.
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How to check your own account
- Open the Revolut app and go to your profile or account details.
- Read the registered company name and the account type shown for the relevant balance.
- Record whether the balance is described as a bank deposit, e-money account, savings product, investment, crypto or commodity holding.
- Recheck after any migration notice or product change. A general statement that Revolut has a UK bank licence does not prove that your individual account has already migrated.
The account-specific information in the app is more useful than the headline “Revolut is now a bank”.
If Revolut Bank UK Ltd fails
An eligible deposit at Revolut Bank UK Ltd falls within the FSCS deposit-protection rules. For bank failures from 1 December 2025, the current limit is £120,000 per eligible person, per authorised firm. The limit was increased from £85,000. The PRA said the increase was intended to help maintain confidence in the safety of people’s money.
The £120,000 limit is aggregated
This is not a separate allowance for every account, currency or savings pot. FSCS adds your eligible deposits held under the same banking authorisation. For example, if your current account and another eligible deposit at Revolut Bank UK Ltd total £130,000, only £120,000 is within the standard limit. Splitting £130,000 between several Revolut accounts does not create extra coverage.
The limit is per person. Two people who hold a joint eligible account generally have a separate limit each, subject to FSCS rules, so the joint balance can have two individual allowances. The relevant test is the customer, the authorised firm and the eligibility of the deposit—not the number of app screens or account labels.
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What happens during a bank failure
FSCS says it typically aims to pay compensation within seven days when a covered bank fails. “Typically” is important: it is scheme guidance, not a promise that every customer will have immediate access or that every case will follow an identical timetable. FSCS first determines eligibility and the amount due under its rules. Amounts above the protected limit may become a claim in the bank’s insolvency and are not covered by the standard deposit guarantee.
In a failure, keep evidence of your balance, account statements and identity information. Do not assume that a card continuing to work means the institution is solvent, or that a temporary app outage is itself a bank failure. The formal FSCS process and announcements from the relevant authorities determine what happens.
If an e-money account with Revolut Ltd fails
Revolut says money in a UK e-money account is safeguarded. Customer funds are held in a safeguarded account with a regulated institution or invested in high-quality liquid assets, separately from Revolut Ltd’s ordinary operating money. The purpose is to keep customer money available rather than use it to pay the firm’s normal expenses.
Revolut’s bankruptcy explanation says that, if Revolut Ltd became insolvent, customer claims would be paid from the dedicated client-money bank and asset accounts. That is the provider’s description of its safeguarding structure. It is not FSCS deposit protection, and there is no stated FSCS-style guarantee of a seven-day return for safeguarded e-money.
Why safeguarding is different
- FSCS deposit protection is a statutory compensation scheme for eligible deposits at a failed authorised bank, subject to the £120,000 aggregate limit.
- Safeguarding is an obligation on an e-money firm to segregate customer money. In an insolvency, an administrator has to identify and return safeguarded funds, after accounting and legal costs or shortfalls permitted by the applicable rules.
Do not describe a safeguarded balance as “FSCS protected” and do not promise a particular recovery date. The amount and timing can depend on reconciliations, the quality of the safeguarded assets and the insolvency process. The seven-day FSCS guidance for a failed bank does not automatically apply to Revolut Ltd.
Products that are not ordinary Revolut bank deposits
The product name in the app does not tell you which protection applies. Revolut’s UK materials distinguish the following categories:
| Product or balance | Likely provider or structure | Protection point | What a failure could mean |
|---|---|---|---|
| Current account or other eligible deposit at Revolut Bank UK Ltd | Revolut Bank UK Ltd | FSCS deposit protection up to £120,000 per eligible person, per authorised firm, with balances aggregated | FSCS compensation for the eligible amount; excess may be an insolvency claim |
| E-money account at Revolut Ltd | Revolut Ltd, an electronic-money institution | Safeguarding in segregated accounts or high-quality liquid assets; not FSCS deposit insurance | Return depends on safeguarding reconciliation and the insolvency process; no stated guaranteed date |
| Savings product | Partner bank or banks | Separate partner-bank FSCS protection may apply if the deposit and customer are eligible | Identify the partner bank and aggregate those deposits with any other balances you hold there |
| Stocks | Separate investment service or entity | Not protected by Revolut Bank UK Ltd’s deposit guarantee | Asset custody and investment-firm rules apply; the outcome is product-specific |
| Crypto and commodities | Separate product provider or entity | Not FSCS-protected deposits at Revolut Bank UK Ltd | Do not treat the holding as guaranteed cash; protections and insolvency treatment vary by product |
For savings, find the named partner bank in the product terms or app. A partner-bank deposit can count with any other deposits you have at that same bank, even if you opened them through different brands. For stocks, crypto and commodities, read the service’s custody and insolvency terms rather than applying a bank-deposit rule.
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What “safe” does—and does not—mean
The available evidence supports a focused conclusion about authorisation and what may happen when a regulated entity fails. It does not mean every operational or personal-finance risk disappears.
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Institutional protection is not account security
FSCS coverage or safeguarding addresses the risk that a firm cannot meet its obligations. It does not prevent a stolen password, a compromised phone, a card transaction you did not authorise, or a payment sent to a fraudster. Use a unique passcode, protect your email and phone number, enable the app’s security controls, and review notifications and statements promptly.
Scams and disputed payments are case-specific
A Financial Ombudsman decision involving an alleged investment scam and Revolut Ltd concerned one customer’s authorised payments and the facts of that complaint. It is not proof that Revolut is generally unsafe, nor that every scam claim will be upheld. Whether a payment can be recovered depends on how it was authorised, the warnings given, the evidence and the applicable payment rules.
Service interruptions are different from insolvency
An outage, delayed transfer, frozen review or slow support response may be frustrating without indicating that the company has failed. Conversely, a company can continue operating while a particular account is restricted for regulatory or fraud-prevention reasons. Keep a small emergency balance or alternative payment method elsewhere if losing app access would leave you unable to pay essential bills.
A practical protection checklist for UK customers
- Identify the entity: save a screenshot or statement showing whether the balance is with Revolut Bank UK Ltd or Revolut Ltd.
- Classify every balance: separate bank deposits, e-money, partner-bank savings and investment or crypto holdings in your own records.
- Apply the right limit: for eligible Revolut Bank UK Ltd deposits, total all eligible balances under that authorisation before comparing with £120,000.
- Check other deposits: if a savings product names a partner bank, add those funds to any direct deposits you already hold at that bank.
- Keep access evidence: retain statements, tax records, beneficiary details and a current backup payment method outside the app.
- Recheck after migration: read notices and account details whenever Revolut moves you from e-money to banking services.
- Use official channels during a failure: follow FSCS and regulator announcements for a bank failure, and the appointed administrator’s instructions for an e-money insolvency.
How to compare Revolut with another provider
If you are deciding where to hold money, compare like with like rather than comparing brand reputations. Ask four questions:
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- Which legal entity and regulator? Identify the company named in the terms and the authority supervising it.
- What exactly is the balance? A bank deposit, safeguarded e-money, partner-bank savings deposit and investment asset are not interchangeable.
- What protection mechanism and limit apply? Check whether it is FSCS compensation, safeguarding or another regime, and whether the limit is per person and aggregated across the firm.
- What is the failure route? Look for the scheme’s stated process and distinguish typical timing from a guaranteed deadline.
For UK eligible deposits, the verified benchmark is £120,000 per person per authorised firm from 1 December 2025. That benchmark cannot be transferred to a non-UK customer: the applicable entity, country and local compensation scheme may be different.
Bottom line for a UK Revolut customer
Revolut can be a regulated and useful service, but “safe” is not one blanket status. If your balance is an eligible deposit at Revolut Bank UK Ltd, FSCS protection currently covers up to £120,000 per person across that authorised firm, and FSCS typically aims to pay covered compensation within seven days of a bank failure. If your balance remains with Revolut Ltd as e-money, it is safeguarded rather than FSCS-insured, and the recovery timetable in an insolvency is not guaranteed. Savings, stocks, crypto and commodities require their own provider and protection checks.
Open the app, identify the entity holding each balance, and make your decision from that account-specific information rather than from the Revolut brand or the existence of a UK banking licence alone.
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