Compensation Principle for Fraudulent Transactions
If you have lost funds from your account due to improper transactions, you shall report this to the police station and inform us as soon as possible through the Revolut App (within 60 days from the date the funds were lost from your account due to improper transactions) (hereinafter referred to as the "Compensation Period") of the occurrence of the loss, and inform us through the Revolut App of the existence and details of any compensation you have received or are entitled to receive from a third party other than us and any other information we reasonably require. Improper transaction here refers to the improper use of funds in your account by a third party against your will, due to circumstances such as the theft or fraudulent use of information relating to your account.
In the event that funds in your account are lost due to improper transactions, and if any of the following applies, we will compensate to your account the amount of funds that you lost from your account due to improper transactions (provided, however, that if you have received or are entitled to receive compensation from a third party, the amount of such compensation is deducted). In the event of compensation by us, you shall transfer to us any rights you may have against a third party arising from the improper transaction:
- you couldn't have known that your security details or Revolut Card were at risk of being misused;
- funds in your account were lost because someone we're responsible for such as an acquirer made a mistake;
- funds in your account are lost after you told us that someone knew your security details or your Revolut Card was lost or stolen; or
- laws required us to make you follow certain prompts (personal authentication, etc.) when you instructed us to make the payment or remittance and we didn't do this.
We'll also pay back any charges you paid as a result of the payment being taken from your account if funds in your account are lost due to improper transactions and we decide to pay the money back into your account as above.
Notwithstanding the above, however, we will not compensate you and will not pay any of the above charges if any of the following applies:
- if you've acted fraudulently, or the transaction is improper due to your wilful intention or gross negligence (e.g. if you carelessly failed to keep your security details or Revolut Card safe (unless you told us about this before funds are lost from your account), or if you gave someone your Revolut Card PIN, etc.);
- if you have not reported to the police station that you have lost funds from your account due to improper transactions;
- if you fail to inform us within the Compensation Period of the occurrence of the damage;
- if you fail to inform us of the existence and details of any compensation you have received or are entitled to receive from a third party other than us, and any other information we reasonably require;
- if you are in breach of these terms and conditions or any other of our terms and conditions applicable to you;
- if all or part of the information you have provided to us is false or suspected to be false;
- if you do not cooperate in the discovery of persons who have carried out improper transactions and in the investigation of any damage;
- if you do not make the necessary efforts or cooperation to prevent the occurrence and spread of damage;
- if the improper transactions are caused by a war, earthquake or other significant disruption of social order; or
- in addition to the above, if we reasonably consider compensation to be inappropriate.
In the event that an improper transaction has occurred or is likely to occur, we will promptly disclose all necessary information when we deem it necessary to prevent the spread of damage (secondary damage), when we deem it necessary or useful to avoid the occurrence of similar cases, or when we deem that the amount of damage or number of cases will have a significant social impact, based on the nature of the improper transaction.
We may suspend or discontinue this compensation policy without prior notice to our user, etc., if we consider it necessary to suspend or discontinue the policy due to system maintenance, communication lines or means of communication, computer failures or other reasons. We shall not be liable for any damage incurred by our user, etc. during the suspension or discontinuation of this compensation policy.
If we give you a refund and then find that you weren't entitled to it, you will have to pay us back.
Inquiry and contact
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