Promotion terms

Instant Access Savings Promotion for new Revolut customers

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Instant Access Savings Promotion for new Revolut customers

What is this Promotion about?

Revolut Bank UAB, Sucursal en España is offering eligible Personal new customers (as described in “Who is Eligible for this Promotion" section) residing in Spain the opportunity to receive a benefit (the “Benefit”) when opening a Revolut Personal Account and contracting the Instant Access Savings product consisting of:

  • An increased AER of 3.56% (annual equivalent rate ‘NIR’ interest rate of 3,50%) until 15:00 UTC on 31 March 2025 (the “Instant Access Savings Offer”). With this Benefit, for a constant balance of €100 (with no tax withheld) deposited as of 14 August 2024, you will get €2.29 Euros as interest during the Duration of the Promotion.

These terms and conditions (the “Promotion Terms”) set out the rules that apply to this Promotion. When participating in this Promotion, you must comply with these Promotion Terms, as well as:

The Promotion for users in Spain will run from 15:00 UTC on 14 August 2024 till 15:00 UTC on 31 October 2024 (the "Promotion Period") and users will be able to benefit from it from the Instant Access Savings opening until 15:00 UTC on 31 March 2025 (the “Duration of the Promotion”). We can end the Promotion at any time by providing 30 days’ prior notice to you through an email, push notification and/or in-app Inbox message.

To receive the Benefits you must meet the Eligibility Criteria set out in these Promotion Terms during the Promotion Period.

Who is eligible for this Promotion?

To be considered an “Eligible Participant” for this Promotion you must meet the following “Eligibility Criteria”:

  • Have a valid tax residency in Spain
  • be at least 18 years of age.
  • Either receive marketing directly about this Promotion or see the Promotion marketed in the Revolut app and/or via email/push notification or via an external source so you can follow the below steps to benefit from the Promotion. You will only receive marketing from us if you have already provided your personal data to us and are happy for Revolut to send marketing to you.

You will also need to complete the following steps:

  • Click on the unique link in the in-app banner or email/SMS/push notification or in the advertisement you’ve seen related to the Promotion - as you’re a new user this link will redirect you to Revolut’s website where you will need to provide your phone number. Once you have provided your phone number, you will be directed to the sign up flow for a Revolut payment account with Revolut Bank UAB or one of its branches (the "Revolut account offering entity").
  • Follow the steps for opening a Revolut Personal account with the Revolut account offering entity and complete our Know Your Customer (“KYC”) checks.
  • Be successfully onboarded to Revolut account offering entity (this means you have to pass KYC) with a registered address in Spain and with no restrictions on your account before the end of the Promotion Period.
  • Follow the steps for adding details regarding your tax residency by completing the relevant onboarding requirements including sharing your DNI/NIF details.
  • Follow the steps for opening your Instant Access Savings Account.

How do I get the Instant Access Savings Offer?

Instant Access Savings is a demand deposit account. If you open a new Instant Access Savings account, you will earn interest on your savings daily at a fixed rate of 3.56% AER for the Duration of this Promotion when you meet the Eligibility Criteria shared.

This offer is limited to Instant Access Savings account up to €100,000. When this Promotion ends, the fixed interest rate on your Instant Access Savings will revert to the prevailing variable interest rate at the time applicable to your plan type and will be subject to the Instant Access Savings Terms. For more information on Instant Access Savings - Instant Access Savings Terms | Revolut Spain and Instant Access Savings FAQ.

What other legal information should I know?

  1. This Promotion is organised and offered to you by Revolut Bank UAB, Sucursal en España, With tax ID W0250845E, duly registered with the Commercial Registry in Madrid under Volum 44863, Sheet 1, Section 8, Page M-789831 and with the Bank of Spain under number 1583. Its address is at Príncipe de Vergara 134, 4 planta, 28002, Madrid (Spain).
  2. We may change, suspend or end the Promotion, if, in our reasonable opinion, the Promotion is being abused or may negatively affect Revolut’s goodwill or reputation. We may do this on an individual or promotion-wide basis.
  3. We reserve the right to apply any fee you should have paid during the Promotion Period if you participate in the Promotion fraudulently, if you breach the terms that apply to your Revolut account , or if we become aware you were not compliant with these Promotion Terms.
  4. Revolut will not be liable for any loss, whether directly or indirectly suffered, as a result of an event outside of its control which means we are unable to continue running the Promotion as planned. Please contact Support if you believe you qualify for a particular benefit in relation to the Promotion that has not been awarded to you as a result of early suspension or termination.
  5. If you close your Revolut Personal account or your account becomes suspended or restricted before you got any of the Promotional Benefits, you will lose your entitlement to any of the Offers. Similarly, if you close your Revolut Instant Access Savings or if any of your accounts or sub-accounts become suspended or restricted, the Instant Access Savings Offer under the Promotion will be lost.
  6. Revolut needs to process your personal data to perform our obligations under these Promotion Terms. For more information about how we handle personal data, see our Customer Privacy Notice.
  7. These Promotion Terms are governed by Spanish law and legal action can only be brought to the courts of Spain (or in the courts of any EU Member State where you have a statutory right to bring legal action under these terms and conditions).