Payments Account with Basic Features Terms

This document (the Payments Account with basic features Terms) sets out the terms and conditions for your payment account with basic features (your Account) and they apply along with our Personal terms for Romania (the Personal Terms). You will receive a copy of both these Payments Account with basic features Terms and the Personal Terms as part of your onboarding journey, and together they form the legal agreement between you and us (Revolut Bank UAB Vilnius Sucursala Bucuresti) for your Account. Your Account is provided to you by Revolut Bank UAB Vilnius Sucursala Bucuresti.

Where there is any difference between the Payments Account with basic features Terms and our Personal Terms, these Payments Account with basic features Terms will prevail in respect of your Account, as applicable.

We offer this Account to our customers in accordance with our obligations under Romanian law to provide a “payment account with basic features”.

Eligibility

To be eligible to apply for an Account, you must:

be 18 or over;
be legally resident in the European Union, even if you do not have a fix address, you are not eligible for a stay permit, or you had requested asylum, while not being subject to expulsion;
not hold a payment account (either solely or jointly) with a bank in Romania, or, if you do currently hold a payment account with another bank in Romania, you must have received notice that your payment account will be closed; and
satisfy any other eligibility criteria that may apply by law (for example, to be compliant from the perspective of applicable requirements under anti-money laundering and counter-terrorist financing relevant regulations).

A payment account means an account for day-to-day transactions that allows you to (at least): (a) open, maintain and close a payment account; (b) lodge funds to a payment account; (c) withdraw cash within the European Union and (d) make and receive payments (including credit transfers, direct debits and card payments) within the European Union to and from a third party.

We may ask you as part of our onboarding process to declare that you are eligible for an Account and to provide any evidence which is deemed necessary to prove your eligibility for an Account.

If we decide to refuse your application for an Account according to grounds provided by the applicable law, we will notify you in writing.

Your Account

We make the Account available to you for personal use. You may not use it for business or commercial purposes.

You do not need to buy any other Revolut products or services to access an Account.

Your Account is a “payment account with basic features”, which we make available to you as required by Romania law. If you choose to open an Account, you may not have access to other Revolut products and services in the Revolut app that are not connected to the Account’s basic features. We will let you know in-app if we apply any of such restrictions.

You may only hold one Account at any time.

We will provide you with a debit card for your Account.

You must keep your Account in positive balance at all times (i.e. avoid a negative balance) and have sufficient funds in your Account to cover any payments.

We do not apply maintenance or transaction fees (RON or euro) to your Account, however other fees and charges may apply for other additional services different than those in Eligibility section above (including for transactions in currencies other than RON or euro). Please see our Fees page (Standard Plan) for more information.

If we refuse to open an Account for you and / or you have any complaint in relation to this decision, please refer to the Complaints Procedure for Revolut Bank UAB Vilnius Sucursala Bucuresti on the Revolut website where you can find full details on our complaints handling procedure.

Alternatively, if you have any queries on our complaints handling procedure, please contact us by using your Revolut app or the mail formalcomplaints@revolut.com.

If you are unhappy with how we have dealt with your complaint or you have not received a response in a one month period, you can refer it to CSALB - the Alternative Banking Dispute Resolution Centre. CSALB is located at 24 Sevastopol Street, 2nd floor, district 1, Bucharest, Romania. You can find out more about the CSALB on their website here. If you are still unhappy after trying to resolve your complaint with us directly or with CSALB, you can also refer your complaint to ANPC - the National Consumer Protection Authority, located at 72 Aviatorilor Blvd., District 1, Bucharest, Romania. You can find their website here.

Changes to your Account

If your Account is no longer suitable for your needs or you are no longer eligible to hold the Account you can contact us via the Revolut app. You will have two options:

you can switch from your Account to an ordinary Revolut personal account. For this option, the Personal Terms will form the legal agreement between you and us for your Revolut personal account and these Payment Account with basic features Terms will fall away; or
you can fully close your Account.

You will not have the option to close your Account if you have entered into a separate agreement with us or another Revolut company, for an additional product or service which is governed by a separate set of terms and conditions, that requires you to keep your personal account with us open until that other contract is terminated (e.g. a personal loan). In those circumstances, the only option you have is to switch your Account (as described in this section).

Switching to a standard Revolut personal account

If you switch to a standard Revolut personal account, fees and charges will apply in accordance with the fees information set out on our webpage for Romania.

Closing your Account

Subject to these Terms, you can close your Account by contacting us in the manner described in our Personal Terms.

We may unilaterally (i.e. without your consent) decide to close or suspend your Account with immediate effect and without prior notice where one or more of the following conditions is met:

you knowingly use your Account for unlawful purposes;
you gave us incorrect information when applying for the Account, and if you gave us the right information, we would not have opened the Account for you;
you have not given us the required information under the anti-money laundering and anti-terrorism financing applicable regulation and
if so required for us to comply with any applicable law, code, regulation or as a result of any competent authorities’ order.

We may unilaterally close or suspend your Account by giving you at least two months’ notice (unless it would be contrary to national security or public policy to give you such notice) where one or more of the following conditions is met:

there has been no transaction on your Account for more than 24 months in a row;
you are no longer legally residing in the European Union; and
you have opened a second payments account with a credit institution in Romania, which allows you to use the basic services provided above.

If we suspend or close your Account in accordance with this section and you have a complaint about this decision, you can submit a complaint to us and you also have the right to contact the relevant Romanian authorities or alternative dispute resolution bodies. See further details above.