1. Why this information is important
This information sets out the extra services we provide to our Premium and Metal (each a Paid Plan) users. It also sets out other important things that you need to know.
These terms and conditions (the Terms) are part of the legal agreement (the Agreement) between you and us referred to in the Personal Terms . If there is any inconsistency between the Personal Terms and these terms and conditions, these terms and conditions will prevail.
You can ask for a copy of these terms and conditions through the Revolut app (“the app”) or you can request a copy from one of our support agents at any time.
Please read these terms and conditions carefully
Your subscription for the Paid Plan service will automatically renew every year unless you give us notice to end it before the automatic renewal. Regardless of how you pay your subscription, we may charge a fee if you end the subscription within 10 months of it starting. Our fees are set out in the Fees Page.
We may restrict your right to upgrade or downgrade your subscription more than once in a 12-month period.
Please see section 12 of these terms for more information about what fee you may be charged if you downgrade or cancel your subscription early.
2. About us
We are Revolut Bank UAB (Revolut Bank), an authorised bank which is regulated by the Bank of Lithuania. Our company number is 304580906.
In relation to the business of insurance distribution, Revolut Insurance Europe UAB (Revolut Insurance Europe), company number 305910164, is enrolled by the Bank of Lithuania on the list of insurance brokerage undertakings. This list can be found on the website of the Bank of Lithuania.
Revolut Bank and Revolut Insurance Europe both have their registered office at Konstitucijos ave. 21B, 08130 Vilnius, the Republic of Lithuania.
Except where these terms and conditions say otherwise, the rights and obligations set out in these terms apply to you and Revolut Bank.
3. What are the Paid Plan services?
What are the Revolut Premium services?
Premium users have access to all the services available to Standard, as well as the following benefits:
- two free Revolut Premium cards (and one free replacement each subsequent year);
- double the free ATM withdrawal allowance of Standard users, and
- access to cryptocurrency and precious metals at better rates than Standard users.
What are the Revolut Metal services?
Metal users have access to all the services and benefits available to Standardand Premium users above, as well as the following benefits:
- one free contactless stainless steel Revolut Metal card;
- Paid Plan Cashback in a number of currencies, precious metals or cryptocurrencies (these may change from time to time);
- four times the free ATM withdrawal allowance of Standard users, and
- any other benefits we add from time to time.
What is Paid Plan Cashback and when do you earn it?
When Metal users make an eligible purchase with their Revolut card, we may (but do not have to) credit your account with an amount equivalent to a percentage of your payment. We call this a "Paid Plan Cashback". We may change the percentage of the Paid Plan Cashback for your plan or not pay it for any reason, including the country you make the payment in or the merchant you make the payment to. You can find our current Paid Plan Cashback rates in our FAQs.
We can't give you cashback when doing so would break any law or regulation, or if the payment you make with your Revolut card is just to another account or payment card (such as an e-wallet, a bank account or a card account).
There is a limit to how much Paid Plan Cashback you can receive in one monthly billing cycle. This is set out in our Fees Page for your Paid Plan.
Sometimes we can recover the Paid Plan Cashback from you if:
- the payment that earned the Paid Plan Cashback is refunded to you;
- you earned the Paid Plan Cashback fraudulently; or
- you broke this agreement in order to get the Paid Plan Cashback.
We will recover the amount of the Paid Plan Cashback by taking it out of your account.We will consider the recovery to be done with your consent and the payment to be authorised by you.
If we cannot recover the amount of the Paid PlanCashback from your account, you will still owe us the relevant amount. We may then recover the amount from a stored card or exercise our right of set-off. We may also take legal steps to recover the amount you owe us. If we do, you may have to pay our reasonable costs of doing so.
You can read more about how we can recover amounts that you owe us in the Personal Terms.
4. What are the Paid Plan cards?
Revolut Premium Card
If you become a Premium user you'll be able to order a Revolut Premium Card with exclusive designs. We'll also issue an extra Premium Card if you ask for one. You can still use other Revolut cards you have.
We may charge fees for any Premium Cards that we issue above your free allowance.
Revolut Metal Card
If you upgrade to Metal, we'll issue you with a Revolut Metal Card that is only available to Metal users. You can only hold one Metal Card at any time. You can still use other Revolut cards you have.
5. Paying your Paid Plan subscription
You can pay your subscription fee in monthly instalments or pay the full subscription once a year. These fees are set out in our Fees Page.
When you become a Paid Plan user we will ask you to pay the subscription from a card you've registered with us (your stored card). We will take the subscription from that stored card while you remain a Paid Plan user.
If we can't take payment from your Personal account balance, we’ll try to take the payment from your stored card but if we’re unable to charge the amount to your stored card for any reason (for example, because it has expired), we will ask you to register another card which will become your new stored card If you don't do this within seven days, we'll take the subscription from your account. We may also take legal steps to collect the payment. If we do, you may have to pay our reasonable costs of doing so.
You may be responsible for paying any taxes or costs that we are not responsible for collecting from you.
Unfortunately, if you do not pay the subscription within 30 days of it becoming due, we may cancel your subscription and downgrade you to a Standard plan.
6. Fees for downgrading your Paid Plan subscription
You can end your Paid Plan subscription at any time (we call this a downgrade). However, you may have to pay a fee. You'll still be able to benefit from the services you get for your subscription until the end of your billing cycle you have paid a subscription for, excluding any break fee. So if you pay your subscription monthly and decide to downgrade, you’ll be able to keep using the subscription within the month that you’ve already paid for; if you pay annually, you’ll have access to your subscription until the end of that annual billing cycle. After then, you'll become a Standard user again (a personal account holder who does not pay a subscription for the Paid Plan service).
Sometimes, we may waive the fee you pay for a downgrade. Where we do this, you might need to promise to do (or not do) certain things to be eligible for the waiver. For example, we might waive your downgrade fee if you sign up to a new plan, but you might need to promise not to cancel that new plan within a certain time. Whether or not we will waive a fee is our decision. We’ll let you know if we are willing to waive a break fee for you (for example, in app or by email).
The fees for ending or downgrading your subscription are set out below.
If you downgrade within 14 days
If you pay your subscription in monthly instalments, we’ll give you a full refund of your subscription. If we sent a Premium Card to you, we’ll charge you the delivery fee, and may deactivate the card. If you ordered a Metal card, we’ll charge you EUR 40 for the card (or the equivalent in the currency of your Revolut account), plus any delivery fee.
If you pay the full subscription once a year, we’ll give you a full refund of your subscription. If we sent a Premium Card to you, we’ll charge you the delivery fee, and may deactivate the card. Please refer to your plan’s fees page for current information on delivery fees. If you ordered a Metal card, we’ll charge you EUR 40 for the card (or the equivalent in the currency of your Revolut account), plus any delivery fee. Please refer to your plan’s fees page for current information on delivery fees.
If you downgrade after 14 days but within 10 months for any other Paid Plan users
If you pay your subscription in monthly instalments, we won't make any refund and you'll have to pay the subscription for the month in which you tell us you'd like to end or downgrade your subscription. We'll also charge a break fee equal to two months' subscription. This is a break fee and you will not be able to benefit from the services for an additional two months, you’ll only be able to continue using your subscription for the rest of the monthly billing cycle that you’ve paid for.
If you pay the full subscription once a year, we won't refund any of the full year's subscription you paid, but we won't charge a break fee. You’ll also be able to continue using your subscription for the rest of the annual billing cycle that you’ve paid for.
If you downgrade after more than 10 months for any other Paid Plan users
If you pay your subscription in monthly instalments, you'll have to pay the subscription for the month in which you tell us you'd like to end or downgrade your subscription, but we won't charge a break fee. You’ll also be able to continue using your subscription for the rest of the monthly billing cycle that you’ve paid for.
If you pay the full subscription once a year, we won't refund any of the full year's subscription you paid, but we won't charge a break fee. You’ll also be able to continue using your subscription for the rest of the annual billing cycle that you’ve paid for.
7. When can we end your Paid Plan subscription?
We can suspend access to your account and end your Paid Plan subscription immediately if:
- we suspect you are behaving fraudulently or otherwise criminally;
- you haven't given us the information we need, or we have good reason to believe that the information you have given us is false;
- you have broken these terms and conditions in a serious or persistent way;
- you owe us money and, despite us asking you to pay us, you have not done so within a reasonable period of time;
- you've been declared bankrupt; or
- we must do so under any law, regulation, court order or ombudsman's instructions.
We may also end your subscription for other reasons, but we will give you at least two months' notice through the app, by text message or in an email.
8. Legal bits and pieces
We can change these terms
We can change these terms and conditions, but we'll only do so for the following reasons:
- if we think it will make them easier to understand or more helpful to you;
- to reflect the way our business is run, particularly if the change is needed because of a change in the way any financial system or technology is provided;
- to reflect legal or regulatory requirements that apply to us;
- to reflect changes in the cost of running our business; or
- because we are changing our products or services or introducing new ones.
If we add a new product or service that doesn't change these terms and conditions, we may add the product or service immediately and let you know before you use it.
If we change an existing product or service that does not relate to payments into or out of your account, we'll normally give you 30 days' notice before we make the change. If we make a change that relates to payments into or out of your account (for example, in relation to cash withdrawals), we'll normally give you 60 days' notice through the app, by text message or in an email.
If we give you notice of a change, we'll assume you're happy with the change unless you tell us that you want to close your account before the change comes into effect.
Our contract with you
Only you, Revolut Bank and, if expressly indicated in these terms, Revolut Insurance Europe have any rights under the agreement.
The agreement is personal to you and you cannot transfer any rights or obligations under it to anyone else.
Our right to transfer
You agree and permit us to merge, reorganize, spin-off, transform or execute any other form of reorganization or restructuring of our company or business and/or transfer or assign all of our rights and obligations under these terms and conditions to any third party.
We will only transfer any of your and our rights or obligations under the agreement if we reasonably think that this won’t have a significant negative effect on your rights under these terms or we need to do so to keep to any legal or regulatory requirement, or it is done as a result of implementation of reorganization (or a similar process).
Lithuanian law applies
The laws of the Republic of Lithuania apply to these terms and conditions and the agreement.
The English version of the agreement applies
If these terms and conditions are translated into another language, the translation is for reference only and the English version will apply.
Our right to enforce the agreement
If you have broken the agreement between you and us and we don’t enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing them at a later date.
Taking legal action against us
Legal action under these terms and conditions can only be brought in the courts of the Republic of Lithuania .
Privacy
Your personal data will be processed in line with the customer privacy notice that applies to your account, which you can find here.
Cryptocurrency & Precious Metals
This page shows the terms for the services provided to you by us, Revolut Bank. Some sections of these terms expressly indicate the services provided to you by Revolut Insurance Europe.
The Cryptocurrency and Precious Metals products are offered by our UK company, Revolut Ltd, under the Cryptocurrency Terms and the Precious Metal Terms.