Revolut offers notable transparency, in-app controls, privacy rights, and external complaint avenues, but these are offset by broad data collection, long retention, extensive sharing, automated account decisions, and liability limits typical of regulated fintech services.
Revolut’s legal terms are fairly detailed and include meaningful user controls like data access, portability, deletion requests, complaint escalation to the Financial Ombudsman Service, and human review of significant automated decisions. At the same time, it collects extensive financial and device data, shares data broadly to run a regulated finance service, retains data for long periods, limits liability in many payment-error scenarios, and relies heavily on fraud/AML-related restrictions and automated decisioning.
Points of interest
Revolut collects broad categories of personal data including IDs, financial details, device data, location, contacts, biometrics, behavioral signals, and inferred profiles. This creates a detailed picture of your finances and app use.
"we collect information you give us... information from your device... information from others... We also create new information about you"
Revolut may use automated systems, including AI, to open accounts, detect fraud, and lock, restrict, or close accounts. In practice, users may face sudden service interruptions pending review.
"we may make automated decisions about you... deciding... whether to lock, restrict, or close your Revolut account"
Revolut expressly says it will not sell your personal data. That is a meaningful privacy commitment compared with many consumer platforms.
"We will never sell your personal data."
Users can access, correct, delete, restrict, object, withdraw consent, and request transfer of certain data. Practical controls are available in-app or by email.
"You can ask for a copy of it, ask us to delete it or ask us to stop using it... You can also manage your privacy preferences directly in-app."
Personal data may be kept for long periods after the relationship ends, and some fraud-related records may be retained even longer. Deletion requests may therefore only be partially honored.
"we may not be able to delete your entire file because these regulatory responsibilities take priority"
Revolut shares data within its group and with service providers, payment networks, credit agencies, partners, authorities, and payment counterparties. Some recipients of your payments will receive identifying details like your name and IBAN.
"we share your personal data with companies that help us provide our products and services, credit reference agencies, people or companies you send money to"
If you enter the wrong account details or pay the wrong person, Revolut generally is not responsible and only says it will try to help recover funds. Users bear much of the risk of payment mistakes.
"We are not responsible if we make a payment to the person you tell us to, even if you gave us the wrong account number"
If an automated decision significantly affects you, you can ask for manual review and challenge the result. This matters because account opening, fraud checks, restrictions, closures, and credit decisions may be automated.
"you have the right to request a manual review of that decision by a person"
If you cannot resolve a complaint with Revolut, you may escalate to the Financial Ombudsman Service. This gives users an external dispute option beyond dealing only with the company.
"unresolved complaints may be taken to the Financial Ombudsman Service"
You can download your payment and account information from the app while your account is active. That supports record-keeping and practical portability.
"You can download this information from the app at any time."
The terms say English law applies and court claims must be brought in England and Wales. That may make court action less convenient for some users, though it does not waive the right to complain to the Ombudsman.
"English law governs these terms, court claims must be brought in England and Wales"
Customer money is held as safeguarded e-money in segregated accounts or low-risk assets, which offers insolvency protection mechanics. But it is not covered by the UK Financial Services Compensation Scheme.
"The money in your Account isn't covered by the Financial Services Compensation Scheme (because it’s safeguarded instead)."
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Documents
Terms
source ↗- •You must usually be 18 or older to open a personal account, cannot hold more than one, and cannot use it for business purposes.
- •Revolut may verify your identity, credit, and source of funds, and can request more information later; delayed responses may restrict services.
- •Your money is e-money safeguarded in segregated accounts or low-risk assets, not protected by the UK Financial Services Compensation Scheme.
- •You must keep security details, cards, devices, email, and phone secure; Revolut may refuse, delay, block, or reverse payments for fraud, legal, or security reasons.
- •You can close your account anytime, but must pay outstanding charges and withdraw balances first; Revolut may suspend or close accounts immediately in exceptional cases.
- •Most instant or completed payments and currency exchanges cannot be cancelled; future payments usually can be cancelled by the business day before processing.
- •Revolut may refund unauthorised payments if you report them within 13 months, but not if you acted fraudulently or carelessly shared security details or OTPs.
- •For some mistaken or disputed payments, refunds are limited: Merchant Initiated Payments, certain card payments, and SEPA debits generally require claims within eight weeks.
- •Revolut limits liability to foreseeable losses and is not responsible for many losses caused by wrong payment details, exchange-rate movements, legal requirements, or events beyond its control.
- •English law governs these terms, court claims must be brought in England and Wales, and unresolved complaints may be taken to the Financial Ombudsman Service.
Privacy Notice
source ↗- •Revolut collects data you provide, device and usage data, location if enabled, information from third parties, and profiles or risk scores it creates.
- •It uses your data to provide services, verify identity, prevent fraud, meet legal duties, assess credit, improve products, support vulnerable customers, and send marketing.
- •Revolut may make automated decisions, including credit, fraud, account opening, restrictions, or closure, and you can request human review of significant decisions.
- •It shares data within the Revolut group, with service providers, payment networks, credit reference agencies, partners, authorities, and payment counterparties when necessary.
- •Recipients of your payments may receive your name and IBAN, and trusted contacts or Revtag searches can reveal limited profile details depending on settings.
- •Revolut may transfer personal data outside the UK and says it uses contracts or other safeguards when destination countries lack equivalent protection.
- •You can access, correct, delete, restrict, object, withdraw consent, transfer certain data, and change privacy or marketing settings in-app or by email.
- •Revolut may keep data as long as needed, generally up to seven years after the relationship ends, and fraud agencies may retain risk data longer.
- •Deletion is not always possible because financial, anti-money laundering, and other legal recordkeeping duties can require Revolut to keep certain data.
- •You must help protect your account by keeping passwords, PINs, and one-time codes private; Revolut says it will not ask for them by phone, email, or text.
