Is Revolut Safe in Australia?

Whether you're saving for a house, sending money abroad, or just buying your morning coffee, you need to know your cash is in safe hands. As more people move away from traditional financial institutions, you might wonder: how safe is Revolut?

Money security is our top priority. In Australia, Revolut Bank Australia is an APRA-authorised bank, and eligible AUD deposits are protected up to AU$250,000 by the Australian Government's Financial Claims Scheme (FCS).

In this blog, we'll talk about how we keep our customers' money safe, other protections you have on your account, and the steps we take to prevent fraud and scams. For example, we help keep your app and money secure with multi-factor authentication and real-time transaction monitoring. Through the trust of our community, we've now grown to over 80 million global customers as of August 2026.

First, a quick summary

Short on time? Here's a quick summary of what we'll discuss in this article:

• Your money, protected: eligible AUD deposits held with Revolut Bank Australia are protected by the Australian Government's Financial Claims Scheme (FCS) up to AU$250,000 per account holder, per bank account.
• Regulatory compliance: we adhere rigorously to industry regulations, making sure your finances are managed with the utmost care and security.
• Advanced fraud prevention: our systems are equipped with strong fraud detection mechanisms. They track and detect suspicious activity to protect your money from unauthorised access or fraudulent transactions.
• App protection: our app uses advanced security measures. These include multi-factor authentication and encryption to protect your financial information.
• Support at your fingertips: our dedicated support team are available in-app 24/7, and are ready to help with any concerns regarding your account's security.

How safe is Revolut? Our security measures explained

Is Revolut safe in Australia?

Yes, Revolut Payments Australia Pty Ltd, trading as Revolut Bank Australia, is an Authorised Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA).

As an Australian bank, Revolut can accept deposits and provide banking products under Australia's prudential framework, alongside the security controls described throughout this article.

For details on deposit protection, see the next section.

For more information, read our article on how we protect funds in Australian Revolut bank accounts.

How does deposit protection work in Australia?

Eligible AUD deposits held with Revolut Bank Australia are protected by the Australian Government's Financial Claims Scheme (FCS) up to AU$250,000 per account holder, per ADI.

The FCS applies to eligible deposits in Australian dollars. Foreign-currency deposits and balances in trading, cryptocurrency, and commodities aren't covered.

Revolut operates one banking licence in Australia, so the AU$250,000 limit applies to the total eligible deposits you hold with Revolut Bank Australia.

For more information, read our guidance on Financial Claims Scheme protection in Australia.

How does Revolut protect me against fraud and scams?

Our fraud detection system is at the forefront of our security measures. It uses cutting-edge machine learning and AI methods to detect suspicious activity, alongside a dedicated, 24/7 Financial Crime team.

Protecting your financial assets is our top priority. We use the latest technology and take proactive steps to keep you safe from fraud and scams. Here's how:

Continuous monitoring and analysis

Our advanced machine learning platform analyses over 970 million customer transactions every month to detect signs of fraud. This platform is used to keep our fraud detection models up to date. It provides advanced protection for all types of transactions, including non-conventional payment methods.

Interactive scam warnings and interventions

Our customer-facing scam warnings and interventions are more interactive and adaptive than ever. We can tailor intervention questions based on the typical ways scams operate. This way, we can warn you about potential scams and encourage you to reconsider risky payments. Our proactive approach enables us to stay ahead of emerging scam trends and protect you more effectively.

Dedicated fraud prevention team

Our dedicated fraud prevention team is responsible for handling the highest-risk scam cases. From there, our experts engage with customers on a personal basis and implement necessary measures to prevent fraud.

Scam awareness

Our ongoing scam awareness education program informs and warns customers about emerging fraud and scam trends. We share helpful tips and real-life examples through different platforms, like social media, to help people spot and stay away from scams day-to-day. For example, showing customers how to avoid scams when buying concert tickets or shopping online. Customers can also take our in-app fraud prevention course to learn about common scams and how to stay safe.

Our commitment to your security

At Revolut, we're committed to protecting you against fraud and scams. We work hard to keep your information safe and secure, always keeping a look out for unusual behaviour, and taking action to fix it. This way, you can rest easy knowing that your information is protected.

Your financial wellbeing is our top priority, and we'll continue to innovate and adapt to keep you safe in an ever-changing digital landscape.

We also ensure the security of your account and transactions using a variety of methods. Let’s walk through a few of them.

Multi-factor authentication (MFA)

When accessing Revolut via the mobile app, you'll need to provide either a PIN, passcode, or biometrics (fingerprint or facial recognition). You'll also get an SMS one-time passcode whenever necessary. This multi-factor authentication process adds an extra layer of security to prevent unauthorised access to your account.

If you're using the desktop app to send money, you'll get a notification when you initiate a transaction. It'll prompt you to confirm a login request in your mobile app. This makes sure that only you can proceed with the payment.

Verification for online purchases and transfers

When making online purchases, we provide transaction verification to authenticate the transaction. If transaction verification is requested by the merchant, you'll receive a notification in-app. You'll need to open the app and confirm the request before the payment can continue, which prevents unauthorised transactions.

When sending money to a new recipient, we'll ask you to confirm that you know and trust them before proceeding with the transaction. If our system detects that the payment may be a scam, we provide in-app warnings. You should always pay attention to these.

Security features

All of our cutting-edge security features are bundled into one powerful shield: Revolut Secure. It enables us to group together a wide range of security features under one clear value proposition and visual identifier. It makes them more tangible, indicating the highest standards of digital security and data protection in retail banking. Protection can be personalised, with 10+ customisable options — all of them built to be always-on, if needed.

We also have tools to support customers that have lost their device, locking their account and protecting their money as quickly as possible.

We offer single-use virtual cards, which are disposable cards that can be used for online shopping. Once you pay, we refresh the card details. This stops them from being skimmed, reused by criminals, or vulnerable to data leaks.

In addition, our in-app transaction history allows you to track your account activity. If you see anything suspicious or lose your card, you can quickly freeze your card in-app to prevent it from being used. Then you can unfreeze it with a tap when it’s safe.

Data protection

We process your data responsibly, and align our practices with General Data Protection Regulations (GDPR), plus any global data protection legislation. Check out our Privacy Notice to learn more.

Secure communication

We prioritise clear communication and security awareness. Revolut will never contact you over the telephone without first verifying our identity. We also provide alerts and information when our automated security system identifies suspicious activity. We encourage you to carefully review these alerts and take your time to consider the situation before making a decision. If you're ever in doubt, don't hesitate to contact us for support through our in-app chat — our support team is available 24/7 in 100+ languages.

In some rare cases, we may be required to restrict accounts to protect you from threats and make sure your money is secure. Restricting a Revolut account is one of our strongest defences against financial crime. You can learn more about this in our blog article ‘Why does Revolut restrict accounts?’.

FAQ section

Is Revolut safe to keep money in Australia?

Revolut Bank Australia is an APRA-authorised bank, providing the same level of security as any regulated bank in Australia.

We also offer a suite of security features that give you total control. For example, with Wealth Protection you can activate extra biometric checks on withdrawals over a limit of your choosing.

And remember: always stay vigilant, and if you’re unsure about something, reach out to our 24/7 customer support.

Does Revolut have FCS protection?

Eligible AUD deposits held with Revolut Bank Australia are protected up to AU$250,000 per account holder, per ADI under the Financial Claims Scheme.

What happens to my money if Revolut fails?

If Revolut Bank Australia were to fail, the Financial Claims Scheme would protect eligible AUD deposits up to the applicable scheme limit.