Business Instant Access Savings - How does it work
How does it work?
Business Instant Access Savings is a feature in the Revolut Business app that allows business customers to set aside funds that will earn interest.
When you put money into Business Instant Access Savings, it is deducted from your main Revolut account to Business Instant Access Savings maintained by Revolut Bank UAB.
You begin to earn interest as soon as the money arrives in your Business Instant Access Savings. Withdrawals from your Business Instant Access Savings should appear in your Revolut Business account instantly.
Deposit Insurance
All funds you deposit in your Business Instant Access Savings are held by Revolut Bank UAB which means that your eligible deposits are insured by the Lithuanian Deposit Insurance scheme (Public Institution "Deposit and Investment Insurance"). You are guaranteed by the Deposit and Investment Insurance to receive back any eligible deposits you have made into Revolut Bank UAB, or otherwise up to EUR 100,000 even if the bank fails.
The total value of deposits that the Deposit and Investment Insurance covers and your eligibility for coverage may change from time to time. More information on deposit insurance can be found here.
What interest will I receive and when?
You will accrue interest on the money that you deposit into Business Instant Access Savings on a daily basis. You can find more information about the calculation method in our Business Instant Access Savings Terms.
Your accrued interest will be paid to you on a daily basis as long as you have your Business Instant Access Savings open. If you close your Business Instant Access Savings, any interest that was accrued will be paid to your Revolut Business account; if your Revolut Business account is also closed, any interest that was accrued but not yet paid will be forfeited.
Full terms and conditions
Your agreement with Revolut is set out in the Business Instant Access Savings Terms, which describe how Revolut manages your Business Instant Access Savings.