Paid Plan Terms

Paid Plan Terms

1. WHY IS THIS INFORMATION IMPORTANT

This document sets out the terms and conditions that apply to your Revolut Plus, Premium or Metal account (your Paid Plan). It includes important information you need to know about how to become a Paid Plan user, and the services we offer to you as part of your subscription and the costs involved.

These terms and conditions along with the Fees and Charges Section, the Airport Lounge Terms, the Revolut – Kids & Teens Terms, the Crypto Terms, the Precious Metals Terms, the Personal Terms, the RevPoints Terms, the Privacy Policy and any other terms and conditions that apply to our services are part of the legal agreement (the agreement) referred to in the Personal Terms between:

• you, the account holder; and
• us, Revolut Payments Australia Pty Ltd (ABN 21 634 823 180).

We are authorised by the Australian Securities & Investments Commission and hold an Australian Financial Services Licence (AFSL number 517589).

If there is any inconsistency between the Personal Terms and these terms and conditions, these terms and conditions will apply.

You can access for a copy of these terms and conditions through the Revolut app and on our website at any time.

Please read these terms and conditions carefully.

2. HOW TO BECOME A PAID PLAN USER

When you open a Revolut account, you are signed up to a Standard plan but you can upgrade to become a Paid Plan user through the Revolut app. We will never move you from a Standard plan to a Paid Plan without your consent. Paid Plan users have access to the services available to Standard plan users as well as additional benefits and preferential rates depending on the Paid Plan they choose. Please read the Personal Terms and the Fees and Charges Section for each of our plans for further details.

Paid Plans have a term of 12 months. Paid Plan users must pay a subscription fee for the duration of that term (unless they are making use of a trial offer where for some of that term, the Paid Plan subscription fee is waived). You can pay your Paid Plan subscription fee in monthly installments or by paying the full subscription fee once a year in advance. Please see the Fees and Charges Sectionfor more information on what subscription fees apply to our Paid Plans.

Your subscription for the Paid Plan service will automatically renew on the date that is one month (for monthly subscriptions) or one year (for annual subscriptions) after you entered into your initial subscription (the initial renewal date) and on every monthly or yearly anniversary (as applicable) of the initial renewal date unless you give us notice to end it. This also applies where you have initially signed up to a Paid Plan via a trial offer.

Some of the benefits and preferential rates provided under our Paid Plans can’t be purchased separately. For instance, you can only access insurance through Revolut if you are on one of our Paid Plans, and the type of insurance cover you can access depends on the Paid Plan you subscribe to (please see the “Complimentary Insurance” section of these terms.

For benefits related to Revolut – Kids & Teens other than those related to Revolut – Kids & Teens Cards, please refer to the Revolut – Kids & Teens Terms.

3. The Plus Services

If you subscribe to Plus, you have access to the following:

• one contactless Plus Card (or a Standard Card) at no cost;
• a second Plus Card (or Standard Card) at no cost;
• access to two contactless Revolut – Kids & Teens Cards at no cost;
• one contactless Joint Account Card at no cost which can be a Plus Card or a Standard Card;
• an additional Plus Card (or Standard Card) at no cost every year after your initial 12 month subscription term for your account, your Joint account or your Revolut – Kids & Teens account (this includes any replacements for lost or stolen cards, but does not include Special Edition Cards);
• standard delivery for any Card you order while you are a Plus user without having to pay a fee;
• access to disposable (virtual) Revolut Cards (see the ordering a virtual card page for further details).

Plus users also have access to the following benefits at no charge other than the subscription fee:

• up to A$6000 exchange per monthly billing cycle (see the Personal Terms for further details on currency exchange);
• withdraw up to $350 per rolling month at no cost (this includes any withdrawals from your Joint Account if you have one);
• access to purchase lounge passes (for selected airport lounges) through our Airport Lounge Passes feature in the Revolut app;
• priority customer support through the Revolut app; and
• everyday protection insurance.

4. The Premium Services

If you subscribe to Premium, you have access to the following:

• one contactless Premium Card (or a Plus Card or Standard Card) at no cost;
• a second Premium Card (or a Plus Card or Standard Card) at no cost;
• access to two contactless Revolut – Kids & Teens Cards at no cost;
• one contactless Joint Account Card at no cost which can be a Premium Card, a Plus Card or a Standard Card;
• an additional Premium Card (or a Plus Card or Standard Card) at no cost every year after your initial 12 month subscription term for your account, your Joint account or your Revolut – Kids & Teens account (this includes any replacements for lost or stolen cards, but does not include Special Edition Cards);
• express delivery for any Card you order while you are a Premium user at no cost; and
• access to disposable (virtual) Revolut Cards (see the ordering a virtual card page for further details).

Premium users also have access to all the services available to Plus users, as well as the following benefits at no charge other than the subscription fee:

• travel insurance;
• discounted lounge access;
• lower crypto fees;
• lower commodities fees;
• access to partners;
• 60% international transfer fee discount;
• up to A$20,000 exchange per monthly billing cycle (see the Personal Terms for further details on currency exchange); and
• an extra $350 worth of ATM withdrawal allowance on top of what Plus users receive at no cost (this applies to withdrawals you make from your account and your Joint account).

5. The Metal Services

If you subscribe to Metal, you have access to the following:

• one contactless stainless steel Revolut Card (the “Metal Card”) at no cost;
• a second Revolut Card that is not a Metal Card (this can be a Premium Card, Plus Card, or Standard Card) at no cost;
• five contactless Revolut – Kids & Teens Cards at no cost;
• one contactless Joint Account Card at no cost which can be a Metal Card, Premium Card, Plus Card, or a Standard Card;
• an additional Premium Card, Plus Card, or Standard Card at no cost every year after your initial 12 month subscription term for your account, your Joint account or your Revolut – Kids & Teens account (this includes any replacements for lost or stolen cards, but does not include Special Edition Cards); (this includes any replacements for lost or stolen cards, but does not include Special Edition Cards);
• express delivery for any Card you order while you are a Metal user at no cost; and
• access to disposable (virtual) Revolut Cards (see the ordering a virtual card page for further details).

If you do not want one Metal Card at no cost, you can instead choose two Revolut Cards that are not Metal Cards (these must each be either a Premium Card, Plus Card, or a Standard Card).

Metal users also have access to the services available to Premium users, as well as the following benefits at no charge other than the subscription fee:

• cashback in a number of currencies (these may change from time to time) (see section 6 below for more details);
• access to more partners;
• 80% international transfer discount; and
• unlimited fiat currency exchange (see the Personal Terms for further details on currency exchange); and
• four times the ATM withdrawal allowance of Standard users at no cost (this includes any withdrawals from your Joint Account if you have one).

6. Metal Cashback

When Metal users make certain purchases with their Metal Card, we will credit your account with electronic money equivalent to a percentage of your payment (Metal Cashback). Metal Cashback for Australian customers will be earned at a rate of 0.1% of the total amount of purchases made in Australia and 1% of the total amount of purchases made outside of Australia.

Certain transactions are excluded from the Metal Cashback, including transactions with merchants who provide financial services, such as quasi-cash, e-wallets, securities trading, gambling and other services relating to accessing liquid financial assets.

We can recover Metal Cashback from you if:

• the payment that earned Metal Cashback is refunded to you;

• you earned the Metal Cashback fraudulently; or

• you broke this agreement in order to obtain Metal Cashback.

We will recover the amount of Metal Cashback by taking it out of your account.

If we cannot recover the amount of Metal Cashback from your account, you will still owe us it. We may then recover the amount from a stored card or exercise our right of set-off. We may also take legal steps to recover the amount you owe us. If we do, you will have to pay our reasonable costs of doing so.

You can read more about how we can recover amounts that you owe us in the Personal Terms.

Payments that won’t earn Metal Cashback

We can’t give you Metal Cashback when doing so would break any law or regulation, or if the payment you make with your Metal Card is just to another account or payment card (such as another e-wallet, a bank account or a credit card).

Metal Cashback cap

There is a limit to how much Metal Cashback you can receive in one monthly billing cycle. The maximum Metal Cashback you can receive in one monthly billing cycle is A$24.99.

7. Information on Paid Plan Cards

Card personalisation

Paid Plan users can add exclusive designs to any Card, or to any Revolut – Kids & Teens Card they order while they are a Paid Plan user at no extra cost.

Card allowance

We’ve set out above in the sections related to what services you receive as part of your Paid Plan what your Card allowance is. You can also find your Card allowance in the Fees and Charges Section for your Paid Plan. Additional cards ordered above your Card allowance will incur an additional fee, which is set out on our Fees and Charges Section.

Complimentary Insurance

8. Complimentary Insurance

If you are subscribed to a Paid Plan, you may be eligible to access the benefit of certain complimentary insurance cover. Our complimentary insurance cover is detailed in Section 9 (Everyday Protection Insurance) and Section 10 (Travel Insurance), below.

Any complimentary insurance you may be eligible for, where it is included in your Paid Plan, does not consider your personal situation and their suitability for your situation has not been considered by us. We do not guarantee any benefits under any complimentary insurance and we do not arrange or provide any financial advice or express any opinion of any nature in relation to coverage under complimentary insurance policies and whether the insurance meets your needs or objectives. We recommend that you read the specific terms and conditions that apply and that you seek your own independent financial advice as to whether any complimentary insurance is suitable for your needs, financial situation or objectives.

There is no additional charge or premium for any insurance included in your Paid Plan. If you choose not to accept any of the benefits under complimentary insurance, or don't meet the conditions or eligibility criteria to activate any complimentary insurance cover, this doesn't change the subscription fee payable by you.

We don't control or own any of our insurance providers in any way, and they don’t control or own us. We don’t receive commission from any of our complimentary insurance providers.

Important information

Chubb Insurance Australia Limited ABN 23 001 642 020, AFSL 239687 (Chubb) has issued group insurance policies to Revolut Payments Australia Pty Ltd ABN 21 634 823 180, AFSL and Australian Credit Licence 517589 which allows eligible Revolut account holders to claim under the group policy as a third party beneficiary by the operation of Section 48 of the Insurance Contracts Act 1984 (Cth).

You are not obliged to claim any benefits under the complimentary insurance cover. If you are eligible for and wish to claim any benefits, you will be bound by the relevant eligibility criteria, terms, conditions, limits (and sublimits) and applicable exclusions as set out in the Everyday Protection Insurance Terms & Conditions Documents and the Travel Insurance Terms & Conditions Documents (Premium and Metal). Excesses may apply and may be deducted from any benefit paid.

No advice is provided on this insurance or on whether it is right for you. To decide if this product is right for you, please read the full terms and conditions.

Chubb is responsible for handling any claim you make under a policy and for making any payments if your claim is accepted. If you have a claim, please contact the insurer directly using the details included in the policy documents. Please also read Section 14 (Claims and complaints about our complimentary insurance) of these Terms which contains important information.

9. Everyday Protection Insurance

If you are subscribed to an Eligible Paid Plan, you may be eligible for complimentary purchase protection and/or extended warranty insurance on purchases made with a card linked to your Revolut account.

Benefits available include insurance for your eligible covered item if it is stolen or, accidentally damaged, or if it breaks down during the extended warranty period (subject to terms, conditions, limits, exclusions and excesses).

To claim benefits, you will need to meet the eligibility criteria set out in the relevant Everyday Protection Insurance Terms & Conditions document (as referred to above), which includes (but is not limited to):

• purchasing the eligible item using a card connected to your Revolut account;
• having an active Eligible Paid Plan at the time the purchase referred to above is made; and
• having an active Eligible Paid Plan at the time you suffer a claimable event under the Terms & Conditions.

Section 14 (Claims and complaints about our complimentary insurance) of these Terms which contains important information on how to make a claim or a complaint about your complimentary everyday protection or extended warranty insurance.

10. Travel Insurance

If you are subscribed to an “Eligible Paid Plan” as per the table below, you may be eligible for complimentary domestic and international travel insurance when you pay for your travel using your Revolut account.

Some of the benefits available include trip cancellation and amendment cover, overseas emergency medical cover and cover for lost or damaged personal property and effects.

To claim benefits under complimentary travel insurance cover, you will need to meet the eligibility criteria set out in the relevant insurance Terms & Conditions document (as referred to above), which includes (but is not limited to):

• charging the relevant minimum amount of travel spend to a card connected to your Revolut account;
• having an active Eligible Paid Plan at the time the charge referred to above is made; and
• having an active Eligible Paid Plan at the time you suffer a claimable event under the Terms & Conditions.

Section 14 (Claims and complaints about our complimentary insurance) of these Terms contains important information on how to make a claim or a complaint about your complimentary travel insurance.

11. Fees and cancelling

When you become a Paid Plan user, we will debit the subscription fee, and any subsequent subscription fees, from the balance held in your Revolut account. We will debit any future subscription fees from the balance in your Revolut account.

If we can’t take payment from your Revolut account for any reason (for example, because you do not have sufficient funds), we will ask you to top-up your balance within 7 days using a debit card or credit card you have registered with us. If you don’t do this within the 7 day period and we’re still unable to collect the payment using the collection methods set out in clause 27 of the Personal Terms we’ll let you know that the payment is outstanding and that you have 14 days to pay us. If we don’t receive payment within that period we may take legal steps to collect the payment. If we take legal steps you will have to pay our reasonable costs of doing so.

If we cancel your subscription we will not refund any amounts you have already paid for the Paid Plan subscription.

11. Notice period for ending your Paid Plan subscription

You may cancel or end your Paid Plan subscription at any time subject to any applicable notice period. There are no fees associated with ending your Paid Plan subscription. However, you will continue to be billed until the end of the relevant notice period. You'll still be able to benefit from the Paid Plan services during this period. At this point, your subscription will end.

Monthly Subscription

Annual Subscription

For an annual subscription, your cancellation request will be processed in the month that you inform us.

If you cancel within the first 12 months no refund of any amount paid will be available but you’ll still be able to benefit from the Paid Plan services until the end of the subscription period. At this point, your subscription will end.

If you cancel after the first 12 months, you will receive a refund for any months remaining on your annual subscription. You’ll still be able to benefit from the Paid Plan services until the end of the month you cancel.

Please see the Fees and Charges Section for more information.

12. When can Revolut end my Paid Plan subscription?

We can end your Paid Plan subscription immediately if:

• you owe us money and, following a request for payment, you have not paid us;
• we reasonably believe it is required to protect you or us from fraud;
• we’ve closed your Revolut account under the Personal Terms;
• we must do so under any law, regulation, court order or instructions of a regulator.
• we have requested information from you (e.g. to comply with anti-money laundering laws) and you haven’t given us the information we need within a reasonable time of us reminding you to or you’ve given us incorrect information and haven’t corrected it within a reasonable time of us asking you to;
• you’ve breached these terms and conditions; or
• your use of our services poses a material risk to our reputation.

13. Complaints about our service

If you’re unhappy with our service, we’ll try to make things right

We always do our best, but we realise that things sometimes go wrong. If you have a complaint, please contact us.

How to make a complaint

If you’d just like to speak to someone about an issue that’s concerning you, please contact us through the Revolut app. We can usually settle matters quickly through the Revolut app.

If you prefer you can make your complaint using this form. Or you can email us at [email protected].

You’ll need to tell us:

• your name;
• the phone number and email address associated with your account;
• when the problem arose; and
• how you’d like us to put the matter right.

We’ll look into your complaint and respond to you by email as soon as possible and provide a final response within 45 days of receiving the complaint.

Australian Financial Complaints Authority (AFCA)

If you are unhappy with how we have dealt with your complaint or we have not resolved your complaint within 45 days, you can lodge a complaint with AFCA. AFCA provides fair and independent financial services complaint resolution that is free to consumers.

Their address is:

Australian Financial Complaints Authority Limited

GPO Box 3

Melbourne, VIC 3001

Phone: 1800 931 678

Email: [email protected]

Website: afca.org.au

You can find more information on their website (http://www.afca.org.au/).

14. Claims and complaints about complimentary Insurance

Claims and complaints in relation to complimentary insurance cover should be made to the insurer, Chubb. Revolut does not handle claims or complaints in relation to complimentary insurance cover. Please see the relevant Insurance Terms & Conditions Documents for more information and contact details.

Legal bits and pieces

15. We can change these Terms

From time to time we may need to change these terms and conditions, including:

• if we think it will make them easier to understand or more helpful to you;
• to reflect the way our business is run, particularly if the change is needed because of a change in the way any financial system or technology is provided;
• to reflect legal or regulatory requirements that apply to us;
• to reflect changes in the cost of running our business; or
• because we are changing or introducing new services or products that affect our existing services or products covered by these terms or conditions.
  

Telling you about changes

If we add a new product or service that doesn’t change your rights and obligations under these terms and conditions, we can add the product or service immediately but we'll let you know before you use it. For changes that we reasonably believe are not adverse to your interests we will tell you about the change no later than the day the change occurs.

For any other changes we will provide you with 30 days notice before making the change. We'll assume you're happy with the change unless you tell us that you want to close your account before the change is made.

16. Other information

Our contract with you

Only you and we have rights under the agreement. The agreement is personal to you and you cannot transfer any rights or obligations under it to anyone else.

Our right to transfer

We reserve the right to transfer, assign or novate this agreement if we reasonably think that this won't have a significant negative effect on your rights under these terms and conditions or we need to do so to keep to any legal or regulatory requirement and you consent to any such transfer. When we transfer rights and obligations we call this ‘novation’. When we only transfer rights, we call this ‘assignment’.

Our right to enforce the agreement

If you have broken the agreement between you and us and we don’t enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing them at a later date.

Taking legal action against us

If you want to bring a claim against us in the courts, the laws of the State of Victoria, Australia will apply and the courts of that State of Victoria will be able to deal with any matter relating to these terms and conditions.

Privacy

We will process your personal data in line with our Privacy Policy which you can access here.