Premium Terms & Metal Terms

Important info

1. Why this information is important

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

These terms and conditions along with the Fees and Charges Section, the Airport Lounge Terms, the Personal 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) to provide general financial product advice and deal in relation to non-cash payment products.

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

You can ask for a copy of these terms and conditions through the Revolut app at any time.

Please read these terms and conditions carefully.

How to become a Premium or Metal user

If you have a Revolut account you can request an upgrade to become a Premium or Metal user through the Revolut app.

Premium and Metal users must pay a subscription fee to access the services. You can pay your Premium or Metal subscription fee in monthly instalments or by paying the full subscription once a year in advance.

Your subscription for the Premium or Metal 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 before the next automatic renewal.

Fees and charges may be payable if you end your monthly subscription within 10 months of starting it.

Please see the Fees and Charges Section for more information.

The Premium Services

2. What are the Premium services?

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

  • up to two replacement Premium Cards (if they are lost or stolen) at no cost;
  • express delivery of your Premium Card;
  • access to disposable (virtual) Revolut cards (see the ordering a virtual card page for further details);
  • unlimited currency exchange (see the Personal Terms for details on currency exchange);
  • double the ATM withdrawal allowance of Standard users at no cost;
  • the opportunity to buy airport lounge passes (see the Airport Lounge Terms for further detail);
  • priority customer support through the Revolut app.

Premium users also have access to the services available to personal account holders. See the Personal Terms and Fees and Charges Section for further details.

If you cancel your Premium subscription within 14 days we will charge you a fee for the Premium Card and its delivery.

3. Premium Card

If you become a Premium user you’ll be able to order a Premium Card (a Premium Card) with exclusive designs. You can still use any other active Revolut cards you hold.

If you lose a Premium Card or it is stolen, we will provide one replacement a year at no additional charge. Further replacements will incur a fee. The fee is set out on our Fees and Charges Section under the Premium tab.

The Metal Services

4. What are the Metal services?

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

  • one contactless stainless steel Revolut card at no cost;
  • in certain circumstances cashback in a number of currencies (these may change from time to time) (see section 6 below for more details); and
  • four times the ATM withdrawal allowance of Standard users at no cost.

If you cancel your Metal subscription within 14 days we will charge you a fee for the Metal Card and its delivery.

5. Metal Card

If you upgrade to Metal, you’ll be able to order a Metal Card (a Metal Card). You can still use any other Revolut cards you hold.

If you need to replace your Metal Card this will incur a fee. The fee is set out on the Fees and Charges Section under the Metal tab.

6. The Metal cashback service

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. We call this a cashback. The current 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 cashback service, 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 the cashback from you if:

  • the payment that earned a cashback is refunded to you;
  • you earned the cashback fraudulently; or
  • you broke this agreement in order to obtain the cashback.

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

If we cannot recover the amount of the 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 a cashback

We can’t give you 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).

Fees and cancelling

7. Paying your Premium or Metal subscription

Premium and Metal users must pay a subscription fee. You can pay your subscription fee in monthly instalments or pay the full subscription once a year in advance. These fees are set out on our Fees and Charges Section under the Premium tab for Premium users and the Metal tab for Metal users.

When you become a Premium or Metal user the subscription fee will be debited 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 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 Premium or Metal subscription.

8. Fees for ending your Premium or Metal subscription

You can end your Premium or Metal subscription at any time. However, you may have to pay a fee.

You’ll still be able to benefit from the Premium or Metal services until the end of any month you have paid a subscription up to. After this time, you’ll revert to being a Standard user.

If you’d like to cancel your subscription, you can let us know through the Revolut app. The fees for ending your subscription are set out in the Fees and Charges Section.

9. When can Revolut end my Premium or Metal subscription?

We can end your Premium or Metal 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.

10. Complaints

If you’re unhappy with our service, we’ll try to put 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 formalcomplaints@revolut.com.

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: info@afca.org.au

Website: afca.org.au

You can find more information on their website.

11. 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 these terms and conditions, we can add the product or service immediately. 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.

12. 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.