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.
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.
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.
Premium users have access to the following benefits at no charge other than the subscription fee:
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.
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.
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:
If you cancel your Metal subscription within 14 days we will charge you a fee for the Metal Card and its delivery.
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.
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:
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.
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).
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.
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.
We can end your Premium or Metal subscription immediately if:
We always do our best, but we realise that things sometimes go wrong. If you have a complaint, please contact us.
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.
You’ll need to tell us:
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.
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
You can find more information on their website.
From time to time we may need to change these terms and conditions, including:
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.
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.
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’.
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.
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.