How we keep your money safe if you’re a customer in the European Economic Area
19 May 2023Team Revolut
As a regulated company, Revolut maintains strict protocols when it comes to guaranteeing the safety of customer funds. And in this article, we’re here to tell you all about them.
If you’re a customer based in the European Economic Area, read on to find out how your money is kept safe.
How is my money protected?
To understand how you’re protected, it helps to know how we’re regulated. Firstly, the banking status of our European entity, Revolut Bank UAB, is authorised by the European Central Bank and the Bank of Lithuania. All of our European customers’ funds are protected by the Lithuanian State Company “Deposit and Investment Insurance”.
As a result, Revolut customer deposits in Europe are insured up to a maximum of EUR 100,000.
If Revolut were to fail (an extreme event), then funds held by customers of Revolut Bank UAB would be protected and paid to you, the customer, up to EUR 100,000.
What if I have lots of accounts with 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.
If you have a joint account, the EUR 100,000 limit applies individually for each depositor.
Are all my funds at Revolut insured by the Lithuanian State Company “Deposit and Investment Insurance”?
No. Virtual currencies, commodities, and investments are not covered by the Lithuanian State Company.
There’s a small number of other deposits that aren’t covered, full details can be found here.