All deposits made to your Savings Vault are held on trust for you, subject to the Revolut Savings Vault Terms, the Trustee Terms and the Trust Deed. To read the Trustee Terms and learn more about who the trustee is: tap on your Savings Vault, tap the ‘Settings’ ⚙button, then select ‘Terms & Conditions’ and tap ‘Trustee’s’.
Any money you put in a Savings Vault is deposited with the bank you choose, by the trustee, on your behalf. While there, it will always be held in a segregated trust account. Any trust account in which your money is held will be operated by the trustee on your behalf, pursuant to the instructions that you provide in the Revolut App. The bank is the deposit taker, not the trustee or Revolut.
We’ve partnered solely with banks that are part of the Financial Services Compensation Scheme (FSCS). This means that, if you are eligible, your Savings Vaults deposits are protected up to £85,000 per person, per bank, by the FSCS. If you have a separate account with the bank outside of Revolut, that account will also contribute to the total amount of your cover. You can find out more about the FSCS here.
To check which bank(s) your deposits are held with and see the details of your protection: tap on your Savings Vaults under ‘Vaults’ on the ‘Wealth’ section of the app, tap the ‘Settings’ ⚙button and then select ‘Rate information’. To see the details of your protection, tap ‘Protection’.