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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Yes, you can use Revolut as a bank account in the UK, but the legal status of your account matters. Revolut Bank UK Ltd began a staged launch in March 2026. New UK customers are being set up with bank accounts, while some existing customers remain with Revolut’s e-money entity until their account migrates. Check the entity shown in your app before assuming that every balance has the same protection.
Revolut can work as a main account, a travel and foreign-currency account, or a companion to a current account elsewhere. The right choice depends on your actual use: recurring bills, cash deposits and withdrawals, international transfers, savings, borrowing, branch access, customer support and the protection attached to each product. “Traditional bank” is not one uniform product, so compare Revolut with a specific account and its current tariff.
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Can you use Revolut as a bank account?
In practical terms, Revolut can provide many functions people expect from a current account, including a UK account, card spending, payments and the ability to hold more than one currency. Revolut also describes international transfers and multi-currency balances as part of its UK offering. However, the legal provider and protection can differ between customers and products.
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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesOn 11 March 2026, Revolut said the Prudential Regulation Authority had lifted mobilisation restrictions and approved the launch of Revolut Bank UK Ltd. Revolut described this as the beginning of a gradual rollout, not an instant migration of every existing account. Its 11 May 2026 UK explanation said new customers are set up with FSCS-protected bank accounts automatically, while some existing customers remain e-money customers during the transition.
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Open your account details or the in-app information panel and identify whether the relevant balance is held by Revolut Bank UK Ltd or by an e-money entity. Do not infer the status from the Revolut name alone.
What changes when your account is an e-money account?
Under e-money safeguarding, customer funds are kept separate from the provider’s operating money. Safeguarding is designed to protect customer funds if the e-money firm fails, but it is not the same as FSCS deposit compensation. The timing and process of any recovery can therefore differ from a claim against a bank covered by the FSCS.
What changes when your account is with Revolut Bank UK Ltd?
Eligible deposits held with Revolut Bank UK Ltd can fall within the FSCS deposit-protection rules. Coverage depends on the person, the authorised firm, the product and the amount. It does not automatically extend to every investment, savings product or balance visible in the same app.
Revolut’s UK fees: free Standard does not mean every service is free
The UK Standard plan has no subscription fee. That is a recurring-plan price, not a promise that every transaction costs nothing. Revolut’s Standard fee schedule says home-country bank-transfer top-ups, local payments and euro payments within SEPA are free under the listed conditions. It also lists charges for some non-UK or non-EEA and commercial-card top-ups, and a charge when ATM withdrawals exceed the plan’s allowance. The app is intended to show any applicable charge before you confirm a transaction.
Revolut’s fee page, updated 11 December 2025 and effective for existing customers from 13 February 2026, also explains that an exchange rate is used and a fee can be added when applicable. The page describes a £1,000 Standard monthly fair-use limit for the combined exchange example on that schedule; after the applicable allowance, a 1% fee is charged. Treat that figure as plan- and terms-specific, and check the live schedule before relying on it.
Published UK subscription prices
| Revolut plan | Published subscription | Important qualification |
|---|---|---|
| Standard | £0 per month | Transaction, fair-use and service-specific charges can still apply. |
| Plus | £3.99 per month or £40 per year | Published UK price; confirm current allowances and terms. |
| Premium | £7.99 per month or £80 per year | Published UK price; confirm current allowances and terms. |
| Ultra | £55 per month or £540 per year | Published UK price; confirm current allowances and terms. |
| Specific traditional-bank account you are considering | Not stated | Use that bank’s current tariff, eligibility rules and account conditions; there is no universal traditional-bank price. |
The paid-tier prices above are published UK prices from Revolut pages updated 11 December 2025 and effective for existing customers from 13 February 2026. Providers can change prices, so verify the current schedule at the point you apply.
Transaction costs that can change the result
A fair comparison totals the charges generated by your own behaviour rather than comparing only the monthly subscription.
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Revolut’s Standard schedule includes an ATM allowance and a charge above that allowance. Check the allowance in your plan and the ATM operator’s own surcharge. A bank account may have its own withdrawal limits, overseas fees or network rules. Compare the amount and frequency of cash you actually withdraw, including holiday cash, rather than assuming one model is always cheaper.
Currency exchange and card spending abroad
Revolut applies its stated exchange-rate and fair-use rules, with a fee where the plan says one applies. Your alternative bank may use a different exchange rate, overseas card fee, weekend policy or cash-withdrawal charge. Record a realistic monthly and annual foreign-spend total and apply each provider’s current terms.
International payments
Revolut notes that intermediary banks can deduct charges from international payments. The recipient may therefore receive less than the amount you send even when Revolut displays a charge before confirmation. For a named traditional-bank account, check its international-payment tariff, supported payment routes and any correspondent-bank deductions. Compare the total received, not just the sender’s displayed fee.
Top-ups and cash deposits
Revolut’s Standard page distinguishes free home-country bank-transfer top-ups from some card top-ups that can be charged. Cash deposits are a separate practical question: verify whether your chosen account accepts cash, through which locations, and at what cost. Do not assume that a card-based top-up, a bank transfer and a cash deposit are interchangeable.
Features and access: compare the exact account, not a stereotype
Revolut’s UK account explanation describes multi-currency balances, international transfers and UK current-account functionality. Those descriptions are Revolut’s product information; confirm the live terms for your plan and customer status.
A traditional bank may offer its own mobile app, foreign-currency services, cash facilities, branches, savings accounts, overdrafts or loans. The range differs by provider and account. Some digital-first accounts have no branch network, while some established banks restrict eligibility for particular products. None of these characteristics can be assigned to every traditional bank.
Routine payments and salary use
If the account will receive your salary and pay rent, utilities or subscriptions, verify sort code and account-number details, direct-debit support, standing orders, payment limits and the process for disputed payments. Move one recurring payment at a time if you are testing a new account, and retain your old account until incoming salary and outgoing mandates have settled.
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Foreign-currency use
Multi-currency balances and international transfers can make Revolut useful for travel, remote work or payments in another currency. Check supported currencies, conversion limits, payment cut-off times and whether the recipient’s bank or an intermediary can deduct money. A bank account you already use may offer a different foreign-currency service, so compare the exact route and rate rather than the provider’s category.
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Cash and in-person service
Ask whether you need cash deposits, regular cash withdrawals, a branch, or face-to-face help. Verify those services with the named provider and the exact account. If you choose Revolut as your only account, confirm that its available channels and cash arrangements meet your needs before closing another account.
Savings and borrowing
Compare the actual savings product, not the current-account brand. Revolut says some savings products are held with partner banks and have separate protection arrangements. Traditional banks also place savings and lending products under particular legal entities and terms. For overdrafts, loans or credit cards, check eligibility, interest, limits and repayment conditions separately from day-to-day account features.
Protection: FSCS coverage depends on the legal provider and product
The Financial Services Compensation Scheme says: “On 1 December 2025 the FSCS deposit protection rose to £120,000.” The limit is per eligible person, per authorised firm, for eligible deposits at a UK-authorised bank, building society or credit union.
The £120,000 limit is aggregated by banking licence
If two brands share one banking licence, the FSCS treats deposits under those brands together for the limit. Holding £80,000 under one brand and £50,000 under another does not necessarily create £130,000 of separate protection if both are deposits with the same authorised firm. Check the licence, not just the trading name.
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FSCS guidance says qualifying temporary high balances can be protected up to £1.4 million for six months, subject to the scheme’s rules. The higher limit is not a permanent allowance for ordinary savings and does not apply automatically to every large balance.
What Revolut’s FSCS explanation excludes
Revolut states that crypto, stocks and commodities are provided through separate entities and are not covered by Revolut Bank UK Ltd’s FSCS deposit protection. It also says some savings accounts are held at partner banks with separate coverage. Therefore, do not label all funds shown in the Revolut app as FSCS-protected. Identify the product, legal provider, protection regime and any shared licence for each balance.
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Questions to ask before moving a large balance
- Which legal entity holds this particular balance?
- Is it an eligible deposit, safeguarded e-money, an investment or another product?
- Which authorised firm and banking licence apply?
- Do I already hold deposits under the same licence elsewhere?
- If it is a partner-bank savings product, what protection applies at that partner?
How to compare Revolut with a named bank account
There is no meaningful “Revolut versus traditional banks” price without naming the alternative. Choose one account—for example, a current account from a specific UK bank—and use its current tariff and eligibility rules. Then complete the following comparison.
| Decision area | Revolut information to record | Named bank account information to record |
|---|---|---|
| Recurring cost | Plan subscription, card charges and any annual payment. | Monthly fee, packaged-account cost and card charges from the bank’s tariff. |
| Everyday payments | Local payments, direct debits, standing orders and limits under your plan. | Same items for the chosen account. |
| Cash | ATM allowance, excess fee, available deposit method and operator charges. | ATM network, withdrawal limits, deposit locations and charges. |
| Foreign use | Exchange allowance, applicable fee, supported currencies and transfer route. | Exchange rate, overseas card fee, cash fee and international-payment tariff. |
| Protection | Revolut Bank UK Ltd, e-money safeguarding or another entity, depending on product and migration status. | Authorised firm, licence aggregation and applicable statutory protection. |
| Service model | App and available support channels for your account. | App, telephone, secure messaging and branch access offered for that account. |
| Eligibility | UK residence, identity checks, plan conditions and migration status. | Residence, age, credit or income criteria and account-specific conditions. |
Calculate your expected annual cost
- List twelve months of expected card spending, cash withdrawals, currency conversions, international payments and top-ups.
- Apply Revolut’s plan allowance and fee for each transaction, including any fair-use threshold.
- Apply the named bank’s current tariff to the same transactions.
- Add subscription or account fees, card costs and any paid benefits you would actually use.
- Value non-price requirements separately: branches, cash deposits, borrowing, savings access, support channels and protection status.
This calculation prevents a free-plan headline from hiding a cost generated by frequent ATM use or currency exchange, and prevents a paid plan from looking worthwhile when its included benefits do not match your behaviour.
When Revolut is a sensible main account
- You have confirmed that your account is with the legal entity and protection regime you want.
- Your income and routine payments work within its payment limits and support arrangements.
- Your main use is app-based spending, multi-currency holding or international transfers.
- You rarely need cash deposits, branch visits or a particular borrowing product.
- Your calculated annual cost is acceptable under the plan and transaction limits.
Before making it your only account, test salary payments, direct debits, emergency access and customer-support routes. Keep a backup payment method while the account is new or migrating.
When a second account or traditional bank is safer for your needs
- You regularly deposit cash or depend on a branch.
- You need a specific overdraft, mortgage, loan, savings or credit product.
- You want to spread eligible deposits across different authorised firms and licences.
- Your Revolut account is still an e-money account and you require FSCS bank-deposit coverage for a particular balance.
- You need a service or payment route that Revolut’s live terms do not provide.
Using Revolut for travel or foreign spending while keeping a separate current account can reduce dependence on one provider. That is a practical arrangement, not a claim that every traditional bank offers better service or protection.
Common mistakes and how to avoid them
Assuming every Revolut customer became a bank customer in March 2026
The March launch began a staged rollout. Check your own account’s entity and migration notice.
Calling every in-app balance FSCS protected
Crypto, stocks and commodities are outside Revolut Bank UK Ltd’s deposit protection, and some savings use partner banks. Check product-level documentation.
Comparing only monthly fees
Include ATM, exchange, top-up, transfer and intermediary-bank costs, plus the value of features you actually need.
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Ignoring licence aggregation
Two familiar brands can share one authorised firm. Add deposits by licence when checking the £120,000 limit.
Closing an old account too soon
Wait until salary credits, direct debits, standing orders and refunds have successfully moved. Keep statements and confirmation of mandate changes.
Frequently asked questions
Is Revolut a bank in the UK?
Revolut Bank UK Ltd launched in March 2026, but the transition is staged. New customers are being set up with bank accounts, while some existing customers remain with an e-money entity. Check your own account details.
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Does the FSCS protect £120,000 in Revolut?
Eligible deposits with Revolut Bank UK Ltd can be covered up to £120,000 per eligible person, per authorised firm, under FSCS rules effective 1 December 2025. The limit does not automatically cover e-money balances, investments, crypto, commodities or every savings product.
Can I have £120,000 protected at two brands?
Only if the deposits are with different authorised firms. Brands sharing one banking licence are aggregated for the FSCS limit.
Is Revolut cheaper than a traditional bank?
There is no universal answer. Standard has no subscription fee, but transaction charges and fair-use limits apply; paid plans cost extra. Compare the current tariff of one named bank account with your expected use.
Frequently Asked Questions
What should I check before using Revolut as my only account?
Confirm the legal entity holding your account, test salary and direct-debit payments, verify cash and support arrangements, and calculate your annual cost from actual ATM, exchange, top-up and transfer use.
Are Revolut savings accounts covered by the same protection as the current account?
Not necessarily. Revolut says some savings products are held with partner banks and have separate coverage. Check the product’s legal provider and protection terms.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
