Switch Payments to Revolut Terms

1. About us

This document sets out the terms and conditions for the In-app Revolut Account Switching service (‘In-app account switching’). It also sets out other important things that you need to know.

This document, along with our Customer Privacy Notice and any other terms and conditions that apply to our services, forms a legal agreement between:

  • you, the Revolut account holder; and
  • us, Revolut Bank UAB, acting via its branch in Ireland ('Revolut').

The In-app account switching is offered by Revolut Bank UAB. We are authorised by the Bank of Lithuania and the European Central Bank as a credit institution and regulated by the Central Bank of Ireland for conduct of business rules. Revolut Bank UAB company number is 304580906, registered address: Konstitucijos ave. 21B, 08130 Vilnius, the Republic of Lithuania. Revolut Bank UAB Ireland branch has a registration number of 909790 with an address at 2 Dublin Landings, North Dock, Dublin.

2. About the In-app account switching

The In-app account switching is available to you if you are a consumer wishing to switch your payment account (the 'old account') held with a payment service provider in the Republic of Ireland (for example, a bank or electronic money institution) (the ‘old account provider’) to a Personal account held with Revolut.

The In-app account switching service is a very limited service which assists you to identify certain payments in your old account and easily copy them over to your Revolut account. However, it does not cancel the payments you are copying or transfer your balance. It is designed to make the process of moving to Revolut easier, but it is a limited service and you should not rely on it to fully switch to Revolut all the things you use your old account for – section 3 below sets this out in more detail. Revolut is not liable for any loss you incur as a result of payments being switched or not being switched from your old account.

Revolut might be obliged to offer regulated account switching under Payment Accounts Directive 2014/95/EU ('PAD Directive'). These terms and conditions do not cover regulated account switching service. The In-app Account switching described in these terms and conditions is an additional service provided by Revolut. In some countries Revolut is obliged to provide account switching services under the PAD Directive, that service is governed by separate terms and conditions; regulated account switching terms in Ireland can be found here.

The eligibility criteria

You can only use the In-app account switching service if:

  • You have an active payment account with Revolut;
  • The old account you want to switch from must be a personal account held solely in your own name.

If the above criteria is not met, you cannot use this in-app account switching service.

3. What does the account switching cover?

Our In-app account switching allows you to copy or request the redirection of a limited number of services from your old account to your Revolut account. However, it is not a full account switching service. Not all services on your old account can be switched, and some services may not be offered by us.

The In-app account switching service uses Open Banking to identify past payments in your old account. The list of payments available for the service is therefore determined by how many months of data the provider of your old account provides through Open Banking. Due to this payments made annually or a couple of months apart might not be covered by the service.

The following payments are eligible to be copied or redirected from your old account to your Revolut account as part of our In-app account switching:

  • Requesting the redirection of eligible regular incoming payments of more than €200: The service will search your old account for any regular and recurring incoming payment which you received at least twice in the past and which exceed €200 (for example, a salary). The service will contact the sender of those payments (if the sender is in the database for the service) and ask them to redirect all future payments. If the sender is not in the database, or if the sender does not redirect the payments, the payments will not be redirected and will still be taken from your old account.
  • Copying scheduled outbound payments: The service will identify any regular and recurring outbound payments that are currently scheduled to be paid from your old account. (This means payments you have scheduled to be paid out from your old account, not card payments.) The service will copy these payment orders to Revolut. The service does not cancel the payments from your old account, and you will need to manually cancel them in your old account in order not to be charged twice.
  • Direct debits: The service will identify any direct debits that are currently set up to be paid from your old account. The service will contact the merchant taking those direct debits (if the merchant is in the database) and ask them to take future direct debits from your Revolut account instead. If the merchant is not in the database, or if the merchant does not update your account details, the direct debits will not move to your new account and will be taken from your old account.

These other services cannot be switched by our In-app account switching:

  • Account balance: your old account balance will not be transferred to your Revolut account. You will need to transfer it separately.
  • Account closure: your old account will not be closed. You will need to close it separately.
  • Redirection of payments or direct debits from merchants who are not in our database: We can only contact merchants and ask them to redirect payments or direct debits if they are in our database. If a merchant is not in our database, the payment cannot be redirected.
  • Redirection of payments or direct debits where merchants do not respond to our request: We can only request that merchants redirect payments or direct debits. If a merchant does not respond to, or action, our request, the payment or direct debit will not be redirected.
  • Recurring Card payments: We cannot transfer card payments (even if they are recurring). This is because these payments are individual payments charged to your card by the merchant you have provided your card details to, not recurring payments that have been set up with your old account provider. You will need to manually update your card details with these merchants.
  • Anything else not specifically stated to be included.

4. What else do I need to do to prepare for the switch to Revolut?

You should make sure that you have enough funds in both your old account and your Revolut account to meet any incoming debts (including, for example, standing orders, direct debits, cheques, interest, fees and charges).

The estimated In-app account switching date will be shown in the app after confirming the In-app account switching process. Usually this process takes up to two weeks.

You will need to manually cancel scheduled outbound payments from your old account, once they are copied to your Revolut account. Otherwise, you might be charged twice for the same.

We can only request merchants to redirect future payments and direct debits. If you make a request to redirect a payment after the merchant has already submitted the payment for your old account, that payment will still be processed against your old account even though the next payment will be processed from your Revolut account. For example, if you confirm the switch on the 1st, and you have the direct debit on the 5th, it will most likely be taken from your old account.

5. Switching out of Revolut

Our In-app account switching process only supports switching third party accounts to Revolut. You cannot use it to switch your Revolut account to a third party.

6. Do you process personal data?

Yes. Revolut processes your personal data to provide In-app account switching to you. For more information about how Revolut processes your personal data, please see our Customer Privacy Notice.

7. How to make a complaint

We always do our best, but we realise that things sometimes go wrong. If you have a complaint regarding how we provide the In-app account switching, you should contact us first (through the Help function in the Revolut app) so that we can try to put things right.

You also have the same rights to make a complaint in relation to In-app account switching as you do under the Personal Terms. Please see the “How to make a complaint” section of the Personal terms or our Complaints Policy for more information.