Information Sheet on Revolut Current Account
This information sheet is valid for Revolut free plans (standard plan and joint account) and Revolut paid plans (“Plus”, “Premium”, “Metal”, and “Ultra”). Revolut paid plans are different packages of services to which different conditions apply. It is always possible to switch from a package to another but the current account may only be linked to a single package only.
If you have a Basic Account, the following information sheet applies to you: Information sheet for basic account.
This Information sheet will take effect on 30 September 2026.
Name of the account provider: Revolut Bank UAB - Italian branch
Via Dante 7, 20123 - Milan, Italy
Listed in the Bank of Italy register of banks with code 3669
National identification number: 12372510961
Parent company - Revolut Bank UAB
Konstitucijos ave. 21B, 08130 Vilnius, Republic of Lithuania
Telephone: +370 800 50 500
a bank incorporated and licensed in the Republic of Lithuania with company number 304580906 and authorisation code LB002119 and whose registered office is at Konstitucijos ave. 21B, 08130 Vilnius, the Republic of Lithuania. We are licensed and regulated by the Bank of Lithuania and the European Central Bank as a credit institution. You can see our licence on the Bank of Lithuania website here and our incorporation and company documents on the Lithuanian Register of Legal Entities website here. The Bank of Lithuania is the central bank and the financial supervisory authority of the Republic of Lithuania whose address is Gedimino ave. 6, 01103 Vilnius, the Republic of Lithuania, registry number 188607684 (further information on the Bank of Lithuania can be obtained on its website at www.lb.lt, the Bank of Lithuania can be contacted at on telephone number +370 800 50 500).
What is Revolut Account:
Your account with us is a current account and the money in it is held by us as a deposit. This type of account is commonly called a “current account” and it is a type of bank account where you can store and withdraw money, and make payments. In these terms and conditions we may refer to it as the “Revolut Account”, a “current account” or an “account”.
A current account is a contract whereby the bank performs a cash service for the customer: it keeps their savings and manages the money with a range of services (including withdrawal of cash and payments within the available balance).
Other services ( such as debit cards, credit cards, direct debits) are usually linked to the current account.
A current account is a safe product. The main risk is the counterparty risk, i.e. the possibility that the bank may not be able to repay the account holder all or part of the available balance. For this reason, Revolut adheres to the Lithuanian deposit guarantee scheme (deposits are insured by the Lithuanian State Company "Deposit and Investment Insurance".), which provides each account holder with a coverage limit of up to EUR 100,000 for a single deposit or for all customer’s deposits held with Revolut Bank UAB.
Above that amount, there is the risk connected with the application of the “bail-in” – introduced by Directive 2014/59/EU and implemented in Italy by Legislative Decrees no. 180 and 181 of 16 November 2015 – which is aimed at preventing and managing potential bank crises. The “bail-in” rules establish, in particular, the order of the parties who would be involved in the rescue of a bank: only after the resources of the riskiest category have been exhausted are the resources of the next category used, according to the following hierarchy: (a) shareholders; (b) holders of other capital instruments; (c) other subordinated creditors; (d) unsecured creditors (including holders of unsubordinated, unsecured bonds); (e) natural persons and micro, small and medium-sized enterprises holding deposits above EUR 100,000 per depositor (the so-called depositor preference).
Other risks may be linked to the loss or theft of debit cards, credit cards, identification data and passwords used to access the account online, but these are also minimised if the account holder observes the ordinary rules of prudence and care.
For consumers with few transactions, the basic account may be indicated; ask for or obtain the relevant information sheet, please click here. Read more:
The Practical Guide to Current Accounts, which provides guidance in choosing an account, is available at www.bancaditalia.it and on Revolut website https://www.revolut.com/it-IT/legal/#transparency. The Bank of Italy guide “Payments in e-commerce in simple words” (“I pagamenti nel commercio elettronico in parole semplici”), which provides a map of the instruments to be used for online purchases, is also available at www.bancaditalia.it and on the Revolut website in the Transparency section.
You must not use Revolut Current Account for business purposes. If you want to use your Revolut account for business purposes, you will need to either apply for a Revolut Pro account or a Revolut Business account.
Normally you must be 18 or over to open a Revolut Account.
Moreover, opening more than one Revolut personal account for your own individual use is not permitted.
Main Economic Conditions:
The expense items shown in the table below are inclusive of any penalties, tax charges and book-entry fees and represent, to a good approximation, the bulk of the total costs incurred by an average consumer holding a current account. This means that the statement does not include all cost items. Some of the excluded items may be important in relation to both the individual account and the operations of the individual customer.
It is always advisable to periodically check whether the current account purchased is still the most
suitable for one's needs. For this, it is useful to carefully examine the list of expenses incurred during the year, set out in the account statement, and compare it with the indicative costs for typical customers indicated by the bank in the Fee Information Document.
When you use your Joint Account, the fees and limits for your individual retail account apply to any
services where a specific fee or limit is not stated on this page.
Revolut Current Account - Statement of Main Conditions
Account opening fees | €0 | ||
FIXED COSTS | Account keeping | Annual fee for maintaining the account | Standard - €0 Plus - €3.99 a month or €40.00 a year. Plus - Duo Plan - €5.99 a month or €64.00 a year. Premium - €9.99 a month or €100 a year. Premium - Duo Plan - €13.99 a month or €160.00 a year. Metal - €15.99 a month or €155 a year. Metal - Duo Plan - €21.99 a month or €260.00 a year. Ultra - €55 a month or €540 a year. Ultra - Duo Plan - €70 a month or €800.00 a year. To maintain account fees below it has to be added the stamp duty amount equal to €34.20 per year according to the applicable regulation in force. Stamp duty is not payable: - where the average balance of the account does not exceed €5,000, in accordance with the applicable legislation; - for consumers who have opened a basic account and have provided a valid ISEE declaration showing a value below the threshold set by law. |
Number of operations included in the annual fee | Unlimited | ||
Liquidity Management | Annual fee for counting interest and fees | €0 | |
Payment Services | Add money (deposit) | For all plans: Stored card: free. If you add money with a card that has not been issued within the EEA (e.g. a US-based card) or you add money with a commercial card then we may charge a small fee just to cover our costs. Bank transfer: free. | |
Issuance of a debit card (Visa or Mastercard) | Standard First Revolut Card Free (but a delivery fee applies). Replacement Revolut Cards €6 per replacement (but a delivery fee applies). Custom Card (design your own card in the Revolut App) This feature is subject to card stock availability. We’ll tell you what fee applies before you order your card in the App. You will need to pay a fee to ship a Custom Card (we will tell you the fee in the App). If you need to replace a Custom Card, the same fee applies. Special Edition Card Price per card varies depending on the edition (a delivery fee applies). If you need to replace a Special Edition Card and the card is still on offer, you will need to pay the same fee again. Plus First Revolut Plus Card Free. Your first card can be a Plus or Standard one (but remember, you may have to pay a card delivery fee and €9.99 for the Plus card itself if you cancel your subscription within 10 months of signing up and a Plus card has been sent as set out in the Paid Plan Terms). Second Revolut Plus card Also free. Your second card can be a Plus or Standard one. Additional Revolut Cards Your first two cards are free as a Plus customer (as set out above). You also get one free replacement every subsequent year. Other than this, we charge €10 or currency equivalent per card. Custom Card (design your own card in the Revolut App) This feature is subject to card stock availability. We’ll tell you what fee applies before you order your card in the App. Standard delivery of a Custom Card is free but you will need to pay a fee to ship a Custom Card by express delivery (we will tell you the fee in the App). If you need to replace a Custom Card, the same fees will apply. Special Edition Card Price per card varies depending on the edition (a delivery fee applies - we’ll tell you what fee applies before you order your card in the App). If you need to replace a Special Edition Card and the card is still on offer, you will need to pay the same fee again. Premium First Premium Revolut Card Free. Your first card can be a Premium or Standard one (but remember, you may have to pay a card delivery fee and €9.99 for the Premium card itself if you cancel your subscription within 10 months of signing up and a Premium card has been sent as set out in the Paid Plan Terms). Second Revolut Premium card Also free. Your second card can be a Premium or Standard one. If you cancel your subscription within 14 days of ordering a second card, you may have to pay a card delivery fee. Additional Revolut Cards Your first two cards are free as a Premium customer (as set out above). You also get one free replacement every subsequent year. After this, we charge €10 per additional card. Custom Card (design your own card in the Revolut App) This feature is subject to card stock availability. We’ll tell you what fee applies before you order your card in the App. Express delivery of a Custom Card is free. If you need to replace a Custom Card, the same fees will apply. Special Edition Card Price per card varies depending on the edition (a delivery fee applies - we’ll tell you what fee applies before you order your card in the App). If you need to replace a Special Edition Card and the card is still on offer, you will need to pay the same fee again. Metal First Revolut Metal card Free. Your first card can be a Metal Premium or Standard one (but remember, you may have to pay a card delivery fee and €39.99 for the Metal card itself if you cancel your subscription within 10 months of signing up and a Metal card has been sent as set out in the Paid Plan Terms). Second Revolut Metal card Also free. Your second card can be a Metal, Premium or Standard one (unless your first card was Metal - you only get one free Metal card). If you cancel your subscription within 14 days of ordering a second card, you may have to pay a card delivery fee. Additional Revolut Cards Your first two cards are free as a Metal customer (as set out above). After this, we charge €40 per additional Metal card (or €10 per additional non Metal card). Custom Card (design your own card in the Revolut App) This feature is subject to card stock availability. We’ll tell you what fee applies before you order your card in the App. Express delivery of a Custom Card is free. If you need to replace a Custom Card, the same fee applies. Special Edition Card Price per card varies depending on the edition (and a delivery fee applies - we’ll tell you what fee applies before you order your card in the App). If you need to replace a Special Edition Card and the card is still on offer, you will need to pay the same fee again. Ultra First Revolut card Free. Your first free card can be an Ultra, Premium or Standard one (but remember, you may have to pay a card delivery fee and €49.99 for the Ultra card itself if you cancel your subscription within 10 months of signing up and a Ultra card has been sent as set out in the Paid Plan Terms). You may also order a Metal card but you will have to pay €40 if you wish to do so. Second Revolut card Also free. Your second card can be an Ultra, Premium or Standard one (unless your first card was an Ultra as you only have one Ultra card at any one time). If you cancel your subscription within 10 months of signing up, you may have to pay a card delivery fee and €49.99 for the Ultra card itself. You may also order a Metal card if you do not already have one, but you will have to pay €40 if you wish to do so. Additional Revolut Cards Your first two cards are free as an Ultra customer (as set out above), except for Metal cards which are only available for a fee. After this, we will charge €50 per additional Ultra card (or €40 for a Metal card and €10 for any other additional card). Custom Card (design your own card in the Revolut App) This feature does not apply to Ultra cards, and is subject to card stock availability. We’ll tell you what fee applies before you order your card in the App. Express delivery of a Custom Card is free. If you need to replace a Custom Card, the same fee applies. Special Edition Card Price per card varies depending on the edition (and a delivery fee applies - we’ll tell you what fee applies before you order your card in the App). If you need to replace a Special Edition Card and the card is still on offer, you will need to pay the same fee again. | ||
Issuance of a virtual debit card (Visa or Mastercard) | €0 | ||
Issuance of a single use virtual debit card (Visa or Mastercard) | €0 | ||
Delivery Commission for Revolut cards | The maximum amounts for delivering are:
If you have a Paid Plan the delivery may be free of charge or we may apply a reduced commission, but remember, you may have to pay the commission in full if you cancel your plan within 10 months of ordering the card. | ||
Issuance of a credit card | Not available | ||
Issuing check forms | Not available | ||
Home Banking | Annual fee for internet banking | €0 | |
VARIABLE COSTS | Liquidity managements | Sending account statement:
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Documentation related to individual operations (via app) |
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Payment services | ATM cash withdrawal at other bank/intermediary | Standard The first €200 fee free ATM withdrawals per rolling month. A fee of 2% applies to amounts above the limit, with a minimum charge of €1 per withdrawal. Plus First €200 per rolling month fee free. A fee of 2% applies to amounts above the limit, with a minimum charge of €1 per withdrawal. Premium First €400 per rolling month fee free. A fee of 2% applies to amounts above the limit, with a minimum charge of €1 per withdrawal. Metal First €800 per rolling month fee free. A fee of 2% applies to amounts above the limit, with a minimum charge of €1 per withdrawal. Ultra First €2,000 per rolling month fee free. A fee of 2% applies to amounts above the limit, with a minimum charge of €1 per withdrawal. | |
Instant Transfers to other Revolut Users | €0 | ||
Credit Transfer - SEPA | €0 | ||
Instant Credit Transfer - SEPA | €0 | ||
Credit Transfer - Extra SEPA | For transfers in the local currency of the recipient country the fee is 0,15% of the transferred amount, with a minimum of €0.7 and a maximum of €255. For transfers in a currency other than the local currency of the recipient country a fixed fee of €3 or €5 applies, depending on the currency. Before you confirm the transfer, the app always shows you the applicable fee and the estimated total amount that will be credited to the beneficiary, inclusive of any currency fees. All Variable and flati fees are described here. | ||
Pay All Fees feature | When you make an international payment, intermediary banks may deduct fees from the amount you sent. Our “Pay All Fees” feature allows you to pay a flat upfront fee which guarantees that the recipient receives the full amount. This will be charged instead of the standard international payment fee. The amount of the fee depends on your base currency. It can change from time to time, but you will always see the current fee in the app before you agree to the transfer. You can see our current fees and the routes where this feature is available on our pricing page here. | ||
Permanent transfer order | €0 | ||
Direct Debit | €0 | ||
F24 payments | €0 | ||
Card transfers | A fee applies for card transfers. This means payment directed to a supported non-Revolut card number, made using the Revolut app. This fee will be calculated in real time and shown to you in the app before you confirm the payment. The exact fee will depend on the transaction itself (for example, on how much you are sending and where to). You can also see our live fees here. | ||
Reload prepaid card | Not available | ||
Receiving payments in EUR | €0 | ||
Receiving cross border payments | €0 When receiving non-EUR payments or payments from outside of EEA area, the Payer’s bank and intermediary service providers may charge additional fees | ||
Cash deposit | Not available | ||
Exchange | Whenever you make a money currency exchange using Revolut Bank within your plan’s exchange limit:
This pricing applies to exchanges in money currencies. We’ve explained it in more detail below. The only time you will pay more is if you exceed your plan’s exchange limit. If you exceed this limit, you will be charged a fair usage fee on the additional amount. The fair usage fee may be different for different conversions, so please check the terms and conditions which apply to any conversions that are not money currency conversions provided by us (Revolut Bank UAB). The following limits and fees apply for money currency conversions by us. They also apply for any other conversion where a fee is not expressly stated in the terms and conditions: Standard Exchange limit of EUR 1,000 per month. Fair usage fee of 1% applies to any additional money currency exchange. Plus Exchange limit of EUR 3,000 per month. Fair usage fee of 0.5% applies to any additional money currency exchange. Premium, Metal and Ultra: No exchange limit. No fair usage fee. All of the following exchanges count towards your exchange limit:
For example, if you’re on the Standard plan, and have exchange €500 in money currency (via Revolut Bank), €300 in cryptocurrency (via RDAEL) and €200 in commodities (via Revolut Ltd) within a month, you have reached your €1000 monthly exchange limit. Any further money currency exchange transactions will incur the 1% fair usage fee. Where possible, the rate, any fee and the total cost will be shown to you in the app before you make an exchange. You’ll be able to take a look, compare it against our competitors, and decide if you like the total cost or not - we think you will like it. The only exception, where it is not possible to show you the total cost in advance, is when you make a card purchase that requires an exchange to take place in real time (for example, you make a purchase in USD, but you do not have a USD balance, meaning we need to perform the conversion in real time for you). However, after the transaction, you will be able to view the breakdown of the total cost within the app. | ||
Exchanging money currencies | Whenever you make a money currency exchange using Revolut, we use our Revolut exchange rate, add a fee (if one applies), and where possible show you the total cost. We use our own Revolut exchange rate for money currency exchanges. This rate is set by us. It is a variable exchange rate and is constantly changing. This means that the money currency buy and sell rates are determined based on data feeds from a range of independent sources, as well as the amount of the transaction. You can view the currency exchange rate on our website or in-app. Exchange rates will be the same whether it's done as an in-app exchange, an exchange for a transfer, or an exchange for a payment. The fee we charge (if one applies) is an exchange fee. This is a variable fee (which means it is constantly changing) depending on the parameters of your exchange (like what you are exchanging and when). You can see what this fee is in the app. No fees apply if you make a money currency exchange on weekdays (between 6pm New York time on Sunday and 5pm New York time on Friday) and you are within your plan's exchange limit. If you make an exchange on weekends (between 5pm New York time on Friday and 6pm New York time on Sunday) a 1% fee applies. This fee is applied regardless of your plan. You can also see what this fee is in the app. Please see our FAQs for more information about the money currency exchange, Revolut exchange rate and exchange fee. |
Statement of Main Conditions
AVAILABILITY AMOUNTS PAID | Cash/cashier's checks same bank | Not available |
Bank checks same branch | Not available | |
Bank checks other branch | Not available | |
Bank drafts other institutions/money orders Bank of Italy | Not available | |
Bank checks other institutions | Not available | |
Money orders and postal checks | Not available |
Other Conditions
Package of services | Fee |
Standard Includes a package of services consisting of:
Services beyond these quantities will be charged separately. | Monthly payments:Free Total annual cost in case of monthly payments: Free OR Yearly payment:Free |
Plus Includes a package of services consisting of:
Services beyond these quantities will be charged separately. | Plus Monthly payments: 3.99 € Total annual cost in case of monthly payments: 47.88 € OR Yearly payment: 40 € Duo Plan (Plus package of services X2) Monthly payments: 5.99 € Total annual cost in case of monthly payments: 71.88 € OR Yearly payment: 64 € In case you cancel your subscription before 10 months from the first subscription, payment card issuing costs apply. |
Premium Includes a package of services consisting of:
Services beyond these quantities will be charged separately. | Monthly payments: 9.99 € Total annual cost in case of monthly payments: 119,88 € OR Yearly payment:100 € Duo Plan (Premium package of services X2) Monthly payments: 13.99 € Total annual cost in case of monthly payments: 167.88 € OR Yearly payment: 160 € In case you cancel your subscription before10 months from the first subscription, payment card issuing costs apply. |
Metal Includes a package of services consisting of:
Services beyond these quantities will be charged separately. | Monthly payments: 15.99 € Total annual cost in case of monthly payments: 191.88 € OR Yearly payment:155 € Duo Plan (Metal package of services X2) Monthly payments: 21.99 € Total annual cost in case of monthly payments: 263.88 € OR Yearly payment: 260 € In case you cancel your subscription before 10 months from the first subscription, payment card issuing costs apply. |
Ultra Includes a package of services consisting of:
Services beyond these quantities will be charged separately. | Monthly payments:55 € Total annual cost in case of monthly payments: 660 € OR Yearly payment: 540 € Duo Plan (Ultra package of services X2) Monthly payments: 70 € Total annual cost in case of monthly payments: 840 € OR Yearly payment: 800 € In case you cancel your subscription before 10 months from the first subscription, payment card issuing costs apply. |
Joint Account When you use your Joint Account, the fees and limits for your individual retail account apply to any services where a specific fee or limit is not stated on this page. | You will pay the same fees on your Joint Account and individual retail account for any payment, transaction, or conversion you make. Any conversion you make on your Joint Account will also count towards any fair usage or other limits you have on your individual retail account. Any fee ATM allowances you make on your Joint Account will also count towards the allowance you have on your individual retail account. These fees and limits are specific to each individual Joint Account holder and are determined by their subscription plan they have chosen. Although the fees and limits for your individual retail account apply to your Joint Account, any benefits of your retail account do not. Any benefit you receive on your retail account activity do not apply to your Joint Account activity. |
Withdrawal and complaints
Withdrawal
The agreement for Revolut Account is indefinite. It means that it is valid until you or we end it.
You can withdraw from this agreement and so end it within the first 14 days of opening a Revolut account by letting us know through the Revolut app or by emailing us at support@revolut.com. You have a right to withdraw without paying any penalties and without having to indicate any reason. In case of withdrawal from the agreement we will return any remaining balance to you. In addition to this right of withdrawal (“diritto di ripensamento”) under the Consumer Code, you also have the right to withdraw from the agreement at any time, without penalty and without any closing costs. You can also exercise your right to withdraw by sending a certified letter with return receipt (raccomandata con avviso di ricevimento) to our branch address at Via Dante 7, 20123 Milan, Italy
You can close your account, and so end the agreement, at any time by letting us know. You can do this through the Revolut app, by writing to us at our head office or by emailing us at support@revolut.com. There is no charge or fee to close your account.
You will still have to pay any charges you've run up (for example, if you've asked for an extra Revolut Card). Where fees are invoiced on a periodic basis, on withdrawal they are payable by you only in proportion to the period prior to withdrawal and, if paid in advance, they are refunded to you on a pro rata basis. We may also charge you any cancellation fees that apply to other agreements you've entered into with us (for example, if you cancel your Plus, Premium, Metal or Ultra subscription; Paid Plan terms and conditions can be found here).
We may also close the account, but we will give you at least 60 days notice through the Revolut app, by text message or by email, except for the cases where we have a right to close the account with immediate effect as per our Personal terms.
If your account has been temporarily restricted, we may not be able to close your account until we have completed our enquiries.
When withdrawal takes effect and how the account is operated until closure
Withdrawal takes effect from the date on which we receive your request. From that date until the account is definitively closed, the account operates on a limited basis solely to allow the relationship to be wound down (for example, to settle pending transactions, incoming credits and direct debits) and no new operations inconsistent with closure will be carried out. Any remaining balance will be returned to you. In any event, whether you or we close the account, you will have at least 60 days to withdraw the money we hold for you, and during that period the ordinary payment limits and fees continue to apply.
Maximum period for closing the contractual relationship
We have a maximum of 6 business days for closing the contract relationship. Where you request the transfer (portability) of the payment account, closure takes place within a maximum of 12 business days. Where the account is closed by the Bank, closure takes effect at the end of the two months’ (60 days’) prior notice, except where we are entitled to close it with immediate effect.
Maximum statutory time limit for transferring the payment account
We have a maximum of 12 business days for transferring the Revolut Account.
How to make a complaint
If you wish to make a formal complaint, you can do that using this form. You can also send an email to us at formalcomplaints@revolut.com or a certified email to revolut.italy.pec.complaints@legalmail.it . You can also send your complaint by ordinary post to our branch address: via Dante 7, 20123 - Milan, Italy. If you express your wish to complain when communicating with us, we will provide you with a complaint form, or may submit the formal complaint form for you and have our agents analyse your case as a formal complaint.
We will answer within 60 calendar days if your complaint relates to banking products. If the complaint relates to payment services as per EU Directive 2015/2366(PSD2), we will answer within 15 business days from the complaint receipt. In exceptional cases, if it is not possible to answer within 15 business days, we will send an interim answer with reasons on response delay and an indication of the final response date. In any case the deadline for sending the final answer will not exceed 35 business days.
If you are unhappy with our answer or if you do not receive any answer from us, you can, before resorting to the competent judicial authority, refer:
- to the Arbitro Bancario Finanziario (ABF). For more information about the ABF you can visit the website www.arbitrobancariofinanziario.it. The operational guides on the Banking and Financial Ombudsman (“ABF in simple terms” and “Guide to using the ABF Portal”) are available on Revolut’s website, in the “Transparency” section.
- to another specialised body, enrolled in the register held by the Ministry of Justice and available on the website www.giustizia.it.
The Practical Guide to the Arbitro Bancario Finanziario (“ABF in simple terms” and the “Guide to using the ABF Portal”) is available on Revolut’s website in the “Transparency” section, on the ABF website (www.arbitrobancariofinanziario.it) and at the branches of the Bank of Italy
Glossary
Term | Definition |
Annual account maintenance fee | Fixed charges for managing the account. |
Maintaining the account | The account provider manages the account, making it available for the customer’s use. |
Sending account statement | Sending the account statement where required by law or requested by the customer. |
Documentation on single operations | Document delivery concerning the operations made by the clients |
Available balance | The amount available in the account that the account holder may use. |
Issuing a debit card | Issuance by the account provider of a payment card linked to the customer’s account. The amount of each transaction made using the card is debited directly and in full to the customer’s account. |
Issuing a credit card | Issuance by the account provider of a payment card linked to the customer’s account. The total amount of transactions made using the card during an agreed period is debited, in full or in part, to the customer’s account on an agreed date. Where interest is payable on amounts used, it is governed by the credit agreement between the account provider and the customer. |
Chargeback | A credit returned to a payment card following the successful reversal, cancellation or refund of a payment transaction, including where a customer’s dispute is upheld. |
Cash withdrawal | The customer takes out cash from their account. |
Recharge of a pre-paid card | Credit a certain amount on a pre – paid card |
Cash deposit | The customer deposits cash to their account. |
Issuance of cheque books | Issuance of a cheque book. |
Instant credit transfer | A credit transfer executed immediately, twenty-four hours a day and every day of the year, subject to the applicable scheme rules, account eligibility and any limits communicated to the customer. |
SEPA credit transfer | The account provider transfers an amount of money from the customer’s account to another account, in accordance with the customer’s instructions, to a recipient in a SEPA country. |
Non-SEPA credit transfer | The account provider transfers an amount of money from the customer’s account to another account, in accordance with the customer’s instructions, to a recipient in a non-SEPA country. |
Credit facility | An agreement under which the account provider commits to make available to the customer an amount of money in addition to the available balance on the account. The agreement sets the maximum amount made available and any fees and interest payable by the customer. |
Overdraft | Amounts of money used by, or otherwise charged to, the customer in excess of the credit facility (“use beyond the credit facility”); or amounts used by, or otherwise charged to, the customer where no credit facility exists and in excess of the customer’s available balance (“overdraft without a credit facility”). |
Direct debit | The customer gives another person (payee) the right to instruct the account service provider to transfer money from the customer's account to the payee’s account. The account service provider transfers the money to the payee on the day or days agreed between the customer and the payee. The amount may vary. |
Automatic payment of E-Invoices | The account service provider, in accordance to the instructions given by the customer in advance, pays the electronic invoice of the payee submitted via the payer’s online banking system. |
Administration of EUR incoming payments | Receipt and processing of incoming EUR payments from accounts held in SEPA countries. |
Administration of cross border incoming payments | Receipt and processing of incoming non-EUR payments and/or payments from accounts held outside the SEPA area. |
Standing order | A periodic transfer of a specified amount of money from the customer’s account to another account, executed by the account provider in accordance with the customer’s instructions. |
Card transfer | A payment initiated through the Revolut app to the card number of a supported non-Revolut payment card. Any applicable fee is calculated in real time and shown to the customer before confirmation of the transaction. |
Pay All Fees | An optional service for eligible international transfers under which the customer pays a flat upfront fee intended to ensure that the beneficiary receives the full transfer amount, instead of the standard international-transfer fee. Availability and the applicable fee depend on the base currency and are shown before the transfer is confirmed. |
Currency exchange | The conversion of an amount from one currency into another using the Revolut exchange rate and, where applicable, an exchange fee. |
Revolut exchange rate | The variable exchange rate set by Revolut using data feeds from independent sources and transaction-specific factors. |
Exchange limit | The monthly exchange amount included in the customer’s plan before a fair usage fee may apply. |