Issuer: Revolut Payments Australia Pty Ltd t/a Revolut Bank Australia (Revolut Australia) (ABN 21 634 823 180, AFSL 517589)
Product: Instant Access Savings
Effective Date: 21 / 07 / 2026
This Target Market Determination ("TMD") seeks to offer an understanding of the class of customers for which this product has been designed, the distribution conditions, and how it is reviewed and monitored for ongoing appropriateness.
Product Description
Through the Revolut Personal App, customers can apply for an Instant Access Savings account. With this account they can:
- Deposit money into the Instant Access Savings account
- Earn interest on deposits daily (variable rate depends on combined personal savings balance)
- Withdraw funds (from their savings account to a Revolut linked bank account)
Revolut Kids & Teens Instant Access Savings:
Revolut – Kids & Teens ("RKT") Instant Access Savings is designed for parents who want their children to save and earn interest. The Revolut Personal Account holder authorises the RKT user to deposit and withdraw funds, and remains responsible for all transactions conducted and interest earned by the RKT user. Parental controls and feature limitations are applied for safety, including a lower balance cap.
Key Eligibility Criteria
In order to open Instant Access Savings, a customer must have an existing Revolut Personal Account and meet key eligibility criteria, including but not limited to:
- Must be an individual.
- Must be 16 years old or over
- Must reside in Australia.
A RKT Instant Access Savings user nominated by a Revolut Personal Account holder must be 6 to 15 years of age, while the Revolut Personal Account holder must be 18 years of age or older. The Revolut Personal Account holder must also have an existing RKT account.
Target Market and Product Attributes
The key attributes of the Revolut Personal Account are considered to be consistent with the likely objectives, needs and financial situation of the target market, as described below:
Customer Objectives and Needs | Product Attributes |
Requires a savings account to deposit funds with flexible withdrawals |
|
Want to earn a variable rate of interest on their savings (subject to change) |
|
Is comfortable with accessing and managing their account through digital channels | Accounts can only be accessed and managed through the Revolut Personal App (full feature availability) or web portal (limited feature availability) |
Distribution Conditions
Revolut Australia applies the following conditions on the distribution of the product so that it is likely to be provided to customers in the target market:
Condition | Reason for Condition |
The product can only be distributed by Revolut Australia following completion of an online application through either of the following channels:
| Revolut Australia’s digital distribution model aligns to the target market’s preference to use digital channels. |
All distribution channels must ask a standard set of questions and check that the eligibility criteria to open an account have been met. | The completion of these checks and data collection during the digital sign-up process enables Revolut Australia to confirm that the customer is eligible for the product. |
A variety of marketing and promotional channels may be used, including digital and physical advertisements, social media, in-person advertising, and comparison / affiliate websites, subject to our internal approval process and rules (for example, gambling related affiliates are not allowed). | Although these channels may be used to provide information about the product, applications must be completed through the approved digital channels to ensure customers are always provided with a consistent set of information about the product and the plans available to them. |
When will the TMD be reviewed?
This TMD will be reviewed on a minimum two year basis unless a particular event or circumstance occurs that might materially change the information contained in this TMD or suggest that it is no longer appropriate
Periodic review | Review triggers |
The TMD will be reviewed at least every two years from its effective date, and within two years of every subsequent review. | A review of the TMD will be undertaken out of cycle in the following circumstances, where relevant and applicable to the TMD:
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Reporting and Monitoring
As issuer and distributor of the product, Revolut will collect and analyse the following information to ensure the TMD remains consistent with how the product performs in the market:
- Product performance data: Significant changes to the volume of new customers or subscriptions, usage patterns and customer engagement.
- Customer feedback and Complaints: Customer feedback on product experience, including the volume and category of complaints received.
- Feedback from other sources: Feedback from other sources including regulators and other entities within the Revolut Group.
- Significant dealings: Revolut Australia becomes aware of a significant dealing of the product that is not consistent with the target market as described in this TMD.
Distributor Reporting
Any external distributors are required to report to Revolut Australia the following information:
- The number of complaints about the product, categorised by root cause, on a quarterly basis.
- Any significant dealings not consistent with this TMD, as soon as practicable and within 10 business days.
The information in this TMD is not financial advice and does not take into account your individual objectives, financial situation or needs. Before acting on the information in this document, you should consider the product’s appropriateness having regard to your personal circumstances.