It's official — Revolut is a bank in Australia

Australia, it’s time to expect more from your bank.

We've officially secured our Australian banking licence, making us a fully Authorised Deposit-Taking Institution (ADI).

It’s the same Revolut you love, now regulated as an Australian bank, and new advanced banking products available to our customers including Instant Access Savings and Credit Cards.

What this means for you

If you have a Revolut account in Australia, it's automatically been transitioned to a licensed bank account. Here's what's new for you:

Government Deposit Protection

Your peace of mind is our priority. As a licensed bank, eligible deposits with Revolut are now covered by the Australian Government's Financial Claims Scheme (FCS). This means your money is protected up to AU$250,000 per account holder.

Instant Access Savings with interest paid daily

It's your money's turn to grow. You can now open an Instant Access Savings account that pays you interest daily and allows you to access your funds whenever you need them, without penalties. Interest rates depend on your Revolut account type and plan:

For our Retail customers:

Your combined personal savings account balances above AU$250,000 will earn interest at the next lowest plan rate up to AU$1 million:

• Earn up to 3.00% p.a. (variable) interest on Standard and Plus
• Earn up to 3.65% p.a. (variable) interest on Premium
• Earn up to 4.35% p.a. (variable) interest on Metal
• Earn up to 5.05% p.a. (variable) interest on Ultra

For our Business customers:

• Earn up to 2.0% p.a. (variable) interest on Basic
• earn up to 3.0% p.a. (variable) interest on Grow
• Earn up to 4.0% p.a. (variable) interest on Scale
• Earn up to 4.25% p.a. (variable) interest on Enterprise

Rates are correct as of 21 July 2026. Please check the rates pages for current rates if you're viewing this at a later date. Plan fees apply. Read our rates for more information.

Revolut Credit Cards (available for Retail customers only)

You can now apply for a credit card with a limit of up to AU$35,000 and no extra annual fees. Enjoy the same great exchange rates you love on your debit card now on credit. Subject to assessment and eligibility.

Unlock up to 3x higher RevPoints on credit card purchases compared to debit, so you can redeem points for Airline Miles, Gift Cards, and other rewards faster. Better yet, you’ll get all the same custom card controls you already have with your debit card: freeze and unfreeze your card in-app, set spending limits, and turn off specific transactions.

The RevPoints earn rate depends on the type of plan you have, from 1 RevPoint per AU$16 spent on Standard to 1.3 RevPoints per AU$1 spent on Ultra. If you choose a paid plan, Paid Plan T&Cs and plan fees will apply. Opt-in required for RevPoints. See RevPoints T&Cs.

Do I need to do anything?

If you're already a Revolut customer in Australia, you’ve been transitioned to Revolut Bank Australia, and your eligible accounts and features now benefit from ADI protections. Simply update your app to the latest version to explore your new banking features. Your card, BSB, and account number will continue to work as normal. Any Direct Debits, salary payments, or recurring transfers will continue without interruption.

New customers, from today, will be able to open a Revolut bank account. This means eligible deposits will have deposit protection and access to all our banking features.

A new standard for money security

As an Australian bank, we’re able to offer you the highest level of regulatory protection. Keeping your money safe remains our top priority, so always remember:

• Stay alert: we’ll only ever contact you via secure in-app communications, our official email, or push notifications.
• Trust your gut: if you see something unusual, our support team is available in-app 24/7.
• Learn more: visit our Security hub to explore our advanced security features and get tips on staying ahead of scammers.

How does this impact Revolut plan offerings and features?

• Revolut plans: your paid plans will remain the same, with no changes to fees or charges.
• Revolut products: all the services and features you love, such as stock trading, cryptocurrency, and commodities, will remain unchanged.
• Revolut — Kids & Teens accounts: if you have a Revolut — Kids & Teens account linked to your personal account, it’ll also be transitioned to an Australian bank account.
• Joint accounts: your Joint account will be transitioned at the same time as your personal Revolut account.

Any questions?

If you have any concerns or questions, reach out to our 24/7 customer support via in-app chat. For more information, check out our FAQs.

For more information on account security, check out our Security FAQs.

Learn more about the Financial Claims Scheme.