Revolut is launching a new subscription plan (the “Ultra Plan”) and is looking to reward new and existing Revolut customers who are on the Ultra Plan Waitlist and want to sign up or upgrade their Revolut personal account to an annual subscription of the Ultra Plan with cashback (the “Promotion”). Users that follow the steps identified in “What do I need to do to take part in the Promotion?”, will be eligible for 5% cashback on all of their eligible transactions for a full calendar month (known as the “Cashback Period”).
In order to be eligible to benefit from the Promotion, you must receive an invitation to register to the Revolut Ultra Plan Waitlist between 01:00 UTC 10 December 2022 and 23.59 UTC 20 July 2023 (the “Promotion Period”).
These terms (the “Promotion Terms”) set out the rules that apply to this Promotion, and you must comply with these Promotion Terms and also the terms that apply to your Revolut personal account at all times when participating in this Promotion.
What do I need to do to take part in the Promotion?
This section applies to you only if you are a new Revolut user.
To be eligible for the Promotion, you must:
- Live at a residential address in an eligible market; and
- See the invitation for the Promotion marketed on the Revolut website and/or on our social media and/or receive a personal invitation from an existing Revolut user so you can follow the below steps to benefit from the Promotion. If you receive an invitation from an existing Revolut user, please note that the unique link you receive will expire after 7 days from the date you receive it.
You will also need to complete the following steps:
- The invitation will redirect you to Revolut’s website where you will need to provide your phone number. On the Revolut website you will be able to see important details of this Promotion including these Promotion Terms, the Promotion Period as well as the details of the Ultra Plan and the cashback you are offered as part of the Promotion and its duration. Once you have provided your phone number, you will be shown a confirmation that you have been added to the Ultra Plan Waitlist. You will also receive a separate confirmation via text message which will include a link to download the Revolut App. Once you have clicked on that link and downloaded the Revolut App, you will be presented with the sign up flow for a Revolut personal account; and
- Follow the steps for opening a Revolut personal account and complete our Know Your Customer (“KYC”) checks. Once the KYC checks are completed, you can choose your preferred Revolut subscription plan. Please note that the Ultra Plan will not be available for you to choose during the Promotion Period, however, you will receive updates from us in relation to the Ultra Plan.
This section applies to you only if you are an existing Revolut customer.
To be eligible for this Promotion, you must:
- Live at a residential address in the eligible market and have an active Revolut personal account. By active Revolut personal account we mean that you have completed our KYC checks and you were successfully onboarded to Revolut and there are no restrictions on your account;
- Either receive marketing directly from us about the Promotion or receive an invitation to participate in the Promotion from your contacts, or see the Promotion marketed in our app during the Promotion Period so you can follow the below steps to benefit from the Promotion.
You will also need to complete the following steps:
- Click on the invitation for the Promotion you received directly from us through the Revolut App or by email. You could also receive an invitation to register on the Ultra Plan Waitlist if one of your contacts using the Revolut App has nominated you by clicking on the “Invite your friends to join" button in the Revolut App. You will only receive an invitation to join the Promotion during the Promotion Period;
- Register to the Ultra Plan Waitlist by clicking on the unique link in the invitation in order to register your interest in the Promotion. Please note that the unique link will expire after 7 days from the date you receive it. You will need to complete the steps to join the Ultra Plan Waitlist within 7 days of receiving the invitation from us, even if the 7 day period expires before or after the end of the Promotion Period.
- You must complete the above steps in order to be able to upgrade your plan to the Annual Ultra Plan, and to be eligible to receive the cashback during the Cashback Period. When we refer to the Annual Ultra Plan, we mean that you have opted to pay for the annual subscription fees of the Ultra Plan.
For the avoidance of doubt, the invitation to participate in the Promotion is personal. This means that only the recipient directly addressed by Revolut in such an invitation may participate in the Promotion using his/her own Revolut account and Revolut card.
What happens after signing up to the Ultra Plan Waitlist?
Before making the Ultra Plan available to you, you will receive communication from Revolut in the form of an email and/or push notification and/or a message in your in-app letting you know that you have access to the Ultra Plan, the Promotion Terms and the cashback you would be entitled to receive if you fulfil the criteria set out in the Promotion Terms. You will have one (1) calendar month from the date we start making the Ultra Plan available to our waiting list users to decide if you want to upgrade to the Annual Ultra plan. If you do decide to upgrade in this period to the Annual Ultra plan, you will then be eligible to receive the 5% cashback during the Cashack Period. As mentioned above, this is the 1st calendar month that you are on the Ultra Plan starting from the date of your upgrade.
If you have signed up to the Ultra Plan Waiting list after 16 June 2023 you will no longer receive advance communication from Revolut in relation to the first roll out date of the Ultra Plan. The reason for that is because we are gradually rolling out the Ultra Plan to our waiting list users before we make it available to the public. You will still have one (1) calendar month from the date you are informed that the Ultra Plan is available to you to decide if you want to upgrade to the Annual Ultra plan. For more information on the Ultra plan fees, check out our fees page.
Please note that you will not earn 5% cashback on your eligible transactions if you do not upgrade your Revolut plan to the Annual Ultra Plan by paying the annual subscription fees.
What is the duration of the Cashback Period?
The Cashback Period begins as soon as you upgrade your existing Revolut personal account to the Ultra Plan and ends after one full calendar month. Note that to be eligible you would need to have upgraded within one (1) month of the launch date of the Ultra plan.
How much cashback will I qualify for?
You will be entitled to earn 5% of cashback on all eligible transactions you carry out (subject to these Promotion Terms) under your Revolut Ultra Plan during the Cashback Period. The maximum amount you can earn in the form of a cashback is the equivalent to the Ultra Plan monthly fee. Once the Ultra Plan is launched you would be able to see the monthly fee in the Ultra Plan fees page on the Revolut website. Do not worry, you do not need to have a physical Revolut card in order to qualify for the cashback. Cashback can be earned for each physical card or virtual Revolut card payment you make during the Cashback Period.
Which transactions are eligible for cashback?
We can't give you cashback when doing so would break any law or regulation. You should also know that the cashback will be provided to you when you pay for certain things with your card, therefore, if the payment you make with your Revolut card is just to another account or payment card (such as another e-wallet, a bank account or a card account), the cashback will not be credited.
Sometimes we can recover the cashback from you if:
- the payment that earned the cashback is refunded to you;
- you earned the cashback fraudulently;
- you end your Annual Ultra Plan subscription during the first 14 days of the Cashback Period (we call this a “cooling off period”). If you decide to downgrade during the cooling off period, we’ll give you a full refund of the Ultra Plan annual fees but we reserve the right to recover any cashback you received; or
- you broke these Promotion Terms or the Terms and Conditions that apply to your Revolut Personal account in order to get the cashback.
We will recover the amount of the cashback by taking it out of your Revolut Personal account. We will consider the recovery of any cashback to have been done with your consent and the payment to have been authorised by you.
How do I know if I’ve been awarded any cashback and how do I collect this?
Revolut will deposit the cashback amounts into your Revolut Personal account within 1 working day after each eligible transaction being completed for the whole duration of the Cashback Period. You should be able to see that your Revolut Personal account has been credited with the cashback amount within 1 working day of the eligible transaction being completed.
What else should I know?
- For users resident in England, Scotland or Wales, the Promotion is organised and offered by Revolut Ltd, a company whose registered address is at 7 Westferry Circus, London, E14 4HD.
- For users resident in the EEA, the promotion is organised and offered by Revolut Bank UAB, a company whose registered address is at Konstitucijos ave. 21B, 08130 Vilnius, the Republic of Lithuania, or its respective branch in Ireland or France..
- Revolut Ltd and Revolut Bank UAB (or its branches) users can take part in the Promotion if they are resident in an “eligible market”. An eligible market for Revolut Ltd is England, Scotland or Wales. An eligible market for Revolut Bank UAB or its branches in Ireland and France is any market in the EEA where it provides services to customers except for: Luxembourg, Liechtenstein, Malta and Croatia.
- We can cancel this Promotion, or change these Promotion Terms and the Promotion Period at any time without a prior notice. Any changes to the Promotion Terms do not affect your rights, if you have already participated in the Promotion.
- You can downgrade from the Annual Ultra plan during the cooling off period and we’ll give you a full refund of the Ultra Plan annual fees (but, as mentioned above, we will recover the cashback you received). After the expiry of the cooling off period, normal cancellation and billing rules will apply. You will be able to see these rules in the Terms and Conditions of the Ultra plan.
- Events beyond the control of Revolut may occur that render the awarding of the cashback impossible. Accordingly, Revolut will not be liable for any loss, whether directly or indirectly suffered, as a result of an event outside of its control.
- If you enter into a transaction that qualifies for cashback and subsequently return this purchase for a refund, then the cashback will be lost. You can find more information on which transactions don’t qualify for cashback in the section “Which transactions are eligible for cashback?”.
- If you close your Revolut account or your account becomes suspended or restricted between the time of the qualifying and receiving the cashback amount, then the cashback will be lost.
- If we have reasonable grounds to believe that you have engaged in any fraud or material abuse of this Promotion (such as for example attempting to obtain an unfair advantage through deception) we may in our sole discretion take any actions we see fit in the circumstances.
- These Promotion Terms are published in English and any translation is a courtesy and an unofficial translation only. Participants of the Promotion cannot derive any rights from the translated version. The English language version of these Promotion Terms shall apply and prevail and be conclusive and binding. The English version shall be used in any legal proceedings.
- To the extent permitted by law, these Promotion Terms shall be exclusively governed by and construed in accordance with the laws of England and Wales if you are a Revolut Ltd customer, and by the laws of Lithuania if you are a Revolut Bank UAB customer. If you are a customer of the Revolut Bank UAB Irish branch, to the extent permitted by law, these Promotion Terms shall be exclusively governed by and construed in accordance with the laws of Ireland. If you are a customer of the Revolut Bank UAB French branch, to the extent permitted by law, these Promotion Terms shall be exclusively governed by and construed in accordance with the laws of France. However, you can also rely on the mandatory consumer protection rules of the EEA country where you live.
- Any disputes arising out of or in connection with these terms shall exclusively be submitted to and dealt with by the competent court in England and Wales if it relates to a Revolut Ltd customer complaint, and if it relates to a Revolut Bank UAB customer complaint, any dispute that arises will be dealt with by the competent court in Lithuania (or in the courts of any EU Member State where you reside). Any disputes arising out of or in connection with these terms shall exclusively be submitted to and dealt with by the competent court in Ireland if it relates to a Revolut Bank UAB Irish branch customer complaint, or if it relates to a Revolut Bank UAB French Branch customer complaint, any dispute that arises will be dealt with by the competent court in France.