Revolut Digital Banking
Revolut
Revolut is a European bank based in Lithuania, with an established branch in Ireland. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, the company has grown to become the largest neobank in Europe by both valuation and user base. In late 2025, as part of a share sale, Revolut’s business was valued at $75 billion (€63.4bn).
Reading time: 30 min
Last updated: March 31, 2026
Table of Contents:
- Is Revolut Safe
- How Secure Is Revolut?
- Customer Support
- How To Open An Account
- Revolut Bank Account Features
- Budgeting Tools
- Direct Debits
- Virtual Cards
- Setting Spending Limits
- Round Up (Spare Change)
- Split Payments
- Saving with Revolut
- Subscriptions
- RevPoints
- Our Recommendation
- Frequently Asked Questions
Written by:
Dan Malone
At a Glance:
- Revolut is a neobank with a dedicated Irish branch that has over 3 million users
- All Revolut plans come with a multi-currency Irish IBAN
- The bank is best known for its travel perks, loyalty schemes and innovative technology
Revolut Premium is our pick for the best all-rounder plan offered by the bank
Is Revolut Safe for Irish Customers in 2026?
Revolut is a fully regulated Lithuanian bank making it perfectly safe for use. The company is supervised by both the Bank of Lithuania and the European Central Bank and is regulated by the Central Bank of Ireland for conduct of business rules.
This stamp of approval has allowed Revolut to expand its business into 160+ countries, serving more than 70 million personal customers and 500,000 businesses. In Ireland alone, Revolut holds the following accolades:
- Over 3 million users
- #1 most downloaded banking app
- 4.6 out of 5 stars on Trustpilot
As an EU regulated bank, deposits held with Revolut are fully protected and guaranteed by the Lithuanian State up to €100,000 per depositor.
How Secure Is Revolut?
| Revolut Security Feature | Available on Revolut? |
|---|---|
| Two-Factor Authentication (2FA) | Yes |
| Biometric Login | Yes |
| Freeze Card | Yes |
| Auto Logout | Yes |
| Active Session Locking | Yes |
| Wealth Protection | Yes |
| Delayed Transfers | Yes |
| Spending Limits | Yes |
| Linked Wallets | Yes |
| Location-Based Security | Yes |
| Transaction Toggling | Yes |
| Contactless Limits | Yes |
| Trusted Merchants | Yes |
| Blocked Payments | Yes |
| Gambling Block | Yes |
| SEPA Limits | Yes |
| Payee Management | Yes |
| 3D Secure (3DS) | Yes |
Revolut requires customers to verify their mobile device via SMS and to set a 4 digit passcode. The account then becomes linked to the user’s mobile number. When logging in from a new device, Revolut will ask for the user’s passcode as well as a biometric verification against the identity documents you provided during onboarding. Customers using the Revolut web app will need 2FA approval through a push notification on their mobile device.
The app supports biometric logins and transaction approvals, via FaceID and TouchID, for extra security. In the ‘Card Security’ section of the app, Irish customers can access additional security options including monthly spending limits, transaction toggling and location based security.
Customer Support
Revolut uses 24/7 AI chat support as a first line of defence for customer queries. However, you can choose to speak with a real person at any time by entering ‘live agent’ into the chat. Similarly, for those on paid plans, asking to speak with a live agent over the phone will connect you to a real customer support representative. Media can be shared within the chat to help explain more complex queries. Users can also download a transcript of their chat history for safekeeping. Revolut has a large FAQ and article section in the app which covers many of the most common inquiries.
How To Open An Account (Estimated Time: 5 Minutes)
Opening an account with Revolut is a simple process. After downloading the app, you simply confirm your mobile number via SMS verification and set a 4 digit passcode to gain access. Then, it takes just a few minutes to complete the registration process which requires you to:
- Provide personal details: name, address, date of birth, email and accepted identity document (i.e. passport, national identity card, driver’s license or resident permit)
- Biometric confirmation: verify your identity with a selfie
- Account topup: add money to your account to activate
When you sign up for a new Revolut account, you may be given a free trial of a Revolut paid plan.
Revolut Bank Account Features
Revolut has five plans – Revolut Standard, Revolut Plus, Revolut Premium, Revolut Metal and Revolut Ultra. Here is a summary of the key features of each plan:
| Revolut Standard | Revolut Plus | Revolut Premium | Revolut Metal | Revolut Ultra | |
|---|---|---|---|---|---|
| Pricing & Accounts | |||||
| Price per month | €0.00 | €3.99 | €8.99 | €15.99 | €55.00 |
| Child Accounts (Under 18) | 1 account | 2 accounts and a co-parent | 2 accounts and a co-parent | 5 accounts and a co-parent | 5 accounts and a co-parent |
| Joint Account | Included | Included | Included | Included | Included |
| Irish IBAN | Yes | Yes | Yes | Yes | Yes |
| Multi-Currency IBAN (35+ currencies) | Yes | Yes | Yes | Yes | Yes |
| UK Account Details | Yes | Yes | Yes | Yes | Yes |
| Customer Support | 24/7 Chat Support | Priority in-app 24/7 Chat Support | Priority in-app 24/7 Chat and Call Support | Priority in-app 24/7 Chat and Call Support | Priority in-app 24/7 Chat and Call Support |
| Cards | |||||
| Physical Card | Basic – €7.99 delivery fee (max 6 cards per account type) | Customisable (max 6 cards per account type) | Customisable – 3 colours (max 6 cards per account type) | Steel, Customisable – 5 colours (max 6 cards per account type) | Platinum-plated (max 6 cards per account type) |
| Multi-Use Digital Card | Yes – create 4 every 30 days (maximum of 20) | Yes – create 4 every 30 days (maximum of 20) | Yes – create 4 every 30 days (maximum of 20) | Yes – create 4 every 30 days (maximum of 20) | Yes – create 4 every 30 days (maximum of 20) |
| Disposable Digital Card | Yes – 1 per account (max 5 payments in 24 hours) | Yes – 1 per account (max 5 payments in 24 hours) | Yes – 1 per account (max 5 payments in 24 hours) | Yes – 1 per account (max 5 payments in 24 hours) | Yes – 1 per account (max 5 payments in 24 hours) |
| RevPoints (Debit Card) | 1 point per €10 spend | 1 point per €10 spend | 1 point per €4 spend | 1 point per €2 spend | 1 point per €1 spend |
| RevPoints (Credit Card) | 1.5 points per €10 spend | 1.5 points per €10 spend | 1.5 points per €4 spend | 1 point per €1 spend | 1.5 points per €1 spend |
| Funds Movement | |||||
| Bank Transfer Top Up | Free | Free | Free | Free | Free |
| Apple Pay/Google Pay/Card Top Up | Free – EEA issued cards | Free – EEA issued cards | Free – EEA issued cards | Free – EEA issued cards | Free – EEA issued cards |
| ATM Withdrawals | €200 per month or 5 withdrawals fee-free, 2% per withdrawal thereafter (minimum fee €1) | €200 per month fee-free, 2% per withdrawal thereafter (minimum fee €1) | €400 per month fee-free, 2% per withdrawal thereafter (minimum fee €1) | €800 per month fee-free, 2% per withdrawal thereafter (minimum fee €1) | €2,000 per month fee-free, 2% per withdrawal thereafter (minimum fee €1) |
| Payments | |||||
| Instant Transfers to another Revolut | Free | Free | Free | Free | Free |
| Local Bank Transfers | Free | Free | Free | Free | Free |
| SEPA Bank Transfers | Free | Free | Free | Free | Free |
| Direct Debit | Free | Free | Free | Free | Free |
| Instant Payments | Yes | Yes | Yes | Yes | Yes |
| Scheduled Payments (Standing Orders) | Yes | Yes | Yes | Yes | Yes |
| Payment Requests | Yes | Yes | Yes | Yes | Yes |
| Split Payments | Yes | Yes | Yes | Yes | Yes |
| Apple Pay/Google Pay | Yes | Yes | Yes | Yes | Yes |
| Sent Payment Requests, Paid by Card | 1% fee + €0.20 | 1% fee + €0.20 | 1% fee + €0.20 | 1% fee + €0.20 | 1% fee + €0.20 |
| Received Payment Requests, Paid to Card | 0.70% fee (minimum €0.20) | 0.70% fee (minimum €0.20) | 0.70% fee (minimum €0.20) | 0.70% fee (minimum €0.20) | 0.70% fee (minimum €0.20) |
| Budgeting & Saving | |||||
| Analytics | Yes | Yes | Yes | Yes | Yes |
| Income Sorting | Yes | Yes | Yes | Yes | Yes |
| Budgeting | Yes | Yes | Yes | Yes | Yes |
| Round Up | Yes | Yes | Yes | Yes | Yes |
| Pockets | Yes | Yes | Yes | Yes | Yes |
| Recurring Transfers | Yes | Yes | Yes | Yes | Yes |
| Interest (Savings) | 1.50% | 1.50% | 1.75% | 2.00% | 2.25% |
| Interest (Cash Funds) | 1.17% | 1.32% | 1.77% | 1.92% | 2.02% |
| Foreign Currency & Travel | |||||
| Foreign Currency Exchange (In-App or via Payment) | €1,000 free, then 1.0% fee | €3,000 free, then 0.5% | Unlimited | Unlimited | Unlimited |
| Weekend Foreign Currency Exchange (Fri 22:00 – Sun 23:00) | 1.0% mark-up | 0.5% mark-up | Unlimited | Unlimited | Unlimited |
| International Bank Transfer | 0.15% fee + minimum fee based on currency | 0.15% fee + minimum fee based on currency | 0.15% fee + minimum fee based on currency (less 20% discount) | 0.15% fee + minimum fee based on currency (less 40% discount) | Unlimited (100% discount) |
| Airport Lounge Access | Pay-per-visit | Pay-per-visit | Discounted | Discounted | Unlimited |
| eSIM | Yes | Yes | Yes | Yes | Yes – 3GB global data per month included |
| Winter Sports Insurance | No | No | Yes | Yes | Yes |
| Car Hire Excess Insurance | No | No | No | Yes | Yes |
| Global Medical Insurance | No | No | Yes | Yes | Yes |
| Trip & Event Cancellation Insurance | No | No | No | No | Yes |
| Flight & Luggage Insurance | No | No | Yes | Yes | Yes |
| Personal Liability Insurance | No | No | No | €1M/y limit | €1M/y limit |
| Other Features | |||||
| Purchase Protection (Everyday Insurance) | No | Yes | Yes | Yes | Yes |
| Extended Returns (Everyday Insurance) | No | Yes | Yes | Yes | Yes |
| Ticket Protection (Everyday Insurance) | No | Yes | Yes | Yes | Yes |
| Brand Subscriptions | No | No | Yes | Yes | Yes |
| Revolut Pro Cashback | 0.4% | 0.4% | 0.6% | 0.8% | 1% |
Accounts Setup
When on the home tab, click ‘Accounts’. This is where you can open a wide range of account types tied to your main Revolut account, including:
- Currency Accounts: spend money in 30+ currencies
- Joint Accounts: for duos, with separate IBANs and cards
- Kids & Teens Accounts: a spending card and app for minors
- Savings Accounts: instant access savings and flexible cash funds
- Linked Accounts: connect and view external bank accounts
- Freelancer Accounts: cashback account with a separate IBAN for self-employed individuals
Budgeting Tools – Pockets and Income Sorting
Revolut offers a suite of powerful budgeting tools. These include ‘pockets’ to house money for specific categories of spending and ‘income sorting’ to automatically split your salary into different sub-accounts when it arrives.
Pockets are Revolut’s take on sub-accounts, where you can create different accounts for different transaction categories i.e. groceries, entertainment, travel etc. Revolut allows you to have up to 100 pockets, so you can get incredibly specific with your budgeting.
To create a pocket, on the ‘Home’ tab, click ‘Accounts’, ‘Add New’ and then ‘Pockets’. Your pocket can be personal or shared with others. You can then customize your pocket, give it a name and set the currency you’d like to store in it (cash or crypto). When a pocket is created, there are a number of ways to use it in conjunction with other Revolut features.
Income Sorting lets you automate the splitting of your salary, and other income payments, into different pockets and savings accounts within Revolut. This removes the administrative hassle of payday. When you receive your paycheck, Revolut will recognise the transaction and automatically split the money into your different pockets in any proportions you choose.
From the Home tab, tap the bar chart icon in the top right to open Analytics. Scroll to ‘Sort Income Automatically’, select your main income from the list, then choose how much should be split into each pocket.
For example, if you were to use the simple ‘50/30/20 Budgeting Rule’:
- 50% of your salary to the pockets you’ve created for ‘Needs’ (i.e rent/mortgage, utilities, groceries, travel)
- 30% of your salary to the pockets you’ve created for ‘Wants’ (i.e. takeaways, subscriptions, entertainment)
- 20% of your salary to the pockets you’ve created for ‘Savings & Debt’ (i.e. emergency fund, investments, short-term debt)
When payday arrives, Revolut will automatically distribute the funds across the various pockets and savings accounts. It can easily be deactivated or edited at any stage within the same section of the app.
Did You Know? If you click ‘Add Money’, there’s an option called ‘Salary’. If you click it, the app will draft you the email that you need to send to payroll in order to start receiving your salary on Revolut.
Direct Debits
Linking a direct debit to a pocket is one of the best ways to put your bills on autopilot within Revolut. It also ensures that your recurring payments, say, your utility bills, are being pulled from the designated pocket for that expense, not your main balance. This allows for more efficient budgeting.
To set up a direct debit, give the merchant your bank details. In the ‘Home’ tab, open your main account, tap ‘Details’, then ‘Share Details’. Once the merchant sets it up, Revolut will notify you that a new direct debit is active.
Next, choose where the payment should come from. For example, if it’s for your internet bill, create a pocket called Internet. To view the pocket, on the ‘Home’ tab click ‘Accounts’, scroll to the pocket, open it, then select ‘Link Bills’. Here you’ll see a list of your direct debits – choose the internet one and confirm. When the direct debit becomes due, Revolut will take the money from that pocket instead of your main account. Repeat this process for other direct debits.
Make sure each pocket has enough money to cover the payment. If not, Revolut will take the money from your main account. This is why Income Sorting is so useful, because it ensures that all of your pockets get automatically funded on payday. Revolut will also send you a push notification 24 hours before a scheduled payment is due for payment if your pocket balance is too low.
Key Insight: On the ‘Payments’ tab, if you click the calendar icon in the right corner, you’ll be able to see all of your upcoming payments, including direct debits and subscriptions, in one place. By clicking any date, you can also add a new transaction which you can then set to recur as a standing order, say, for rental payments.
Virtual Cards
A virtual card is just like a physical card, with its own unique card number, CVC and expiry date. It can be used to pay for goods and services. Unlike physical cards which need to be posted to you, virtual cards can be created instantly within the Revolut app. There are two types of virtual cards on Revolut: multi-use virtual cards and disposable virtual cards.
A multi-use virtual card is a virtual card that can be used on an ongoing basis just like a regular physical card. You can create up to four multi-use virtual cards every 30 days until you reach a maximum of 20 cards. Revolut allows you to customize your virtual cards and label them. For simplicity, you should label your virtual cards using the same naming convention as your pockets. For example, if you have a pocket called ‘Subscriptions’, then you should also create a virtual card labelled as ‘Subscriptions’.
By linking a virtual card to a specific pocket, you’re telling Revolut to only use money from that pocket when the card is used in a transaction. This is a game changer for budgeting and control. For example, with a recurring subscription like a gym membership, if you ever wanted to stop the payment instantly you could simply freeze the virtual card or empty the pocket. Revolut will not take money from another sub-account if your pocket has insufficient funds to complete a card transaction.
After you’ve created your virtual card, head to the pocket that you wish to link it to. Simply click ‘Link A Card’ and then select the virtual card that you’ve just created. The added security benefit of this setup is that if your card details ever get compromised, the funds in your main account aren’t at risk and you can terminate the virtual card in just a few seconds.
Pro Tip: Multi-use virtual cards are best for ‘set and forget’ transactions like a streaming subscription. For everyday spending, it’s best to only add a handful of virtual cards to your wallet to avoid clutter.
For example, you might have one card for groceries and another for nights out. Both could be linked to dedicated pockets and added to your wallet for spending on the fly. You could also use your physical card for daily spending, but you’d need to switch the linked pocket before every transaction if you wanted to maintain efficient budgeting.
The difference between multi-use and disposable virtual cards is that disposable cards are only used for one transaction. You can have one disposable virtual card, and that’s all you need because the details change after every purchase. It can be used for up to five payments every 24 hours.
Its main benefit is security, making it ideal for online purchases on sites you’re not fully sure about. Even if someone gets the card details, they’ll already be useless by the time they try to use them. It also stops merchants from adding unwanted monthly charges after a one-off purchase, as the card number no longer exists.
A disposable card should not be used for subscriptions, recurring payments, security deposits or any transactions where you’re later required to present the card used for purchase.
Key Insight: If you use a disposable card, you can still receive a refund later. Even though the card details expire, Revolut’s system will automatically send the refund to your main account. If the merchant asks for an updated card number, just explain it was a disposable card and provide an active Revolut card instead.
How To Create A Virtual Card
To create a virtual card, on the ‘Home’ tab, click the card icon in the top right corner. Then, click ‘Add New’ and, under ‘Personal’, choose either ‘Virtual’ (for multi-use) or ‘Disposable’ (for single use).
Setting Spending Limits on Physical and Virtual Cards
Spending limits can be set on both physical and virtual cards in Revolut. This is the main way to limit the outflow of money from a specific pocket. On the ‘Home’ tab, click the card icon in the right hand corner and select the card you wish to limit. Then go into the card’s settings and hit ‘Spending Limit’. You can specify how much can be spent or withdrawn using the card each month.
For your physical card, you can also set preferences for online transactions, location-based security and contactless payments among other options within card settings.
Round Up (Spare Change)
Round Up, also known as ‘Spare Change’, is a Revolut feature that allows you to round up your card spending to the nearest euro. The rounded up amount can be sent to a destination of your choice. For example, if you were saving to go on a holiday, you could create a pocket called ‘Holiday Fund’ and set it so that all cash saved via Round Up is stored in that pocket.
How Spare Change Multipliers Work
To do this, go into a pocket of your choice and scroll down to ‘Spare Change’. Revolut will ask you to set a multiplier: x1, x2, x3, x4, x5 or x10. Here’s how it works. Let’s say you purchase a coffee for €3.60. The nearest euro is €4.00, which gives you spare change of €0.40. The multipliers work as follows:
| Multiplier | Spare Change | Total Saved |
|---|---|---|
| x1 | €0.40 | €0.40 |
| x2 | €0.40 | €0.80 |
| x3 | €0.40 | €1.20 |
| x4 | €0.40 | €1.60 |
| x5 | €0.40 | €2.00 |
| x10 | €0.40 | €4.00 |
Using our example, if your multiplier was set to x2, the total cost of the transaction would be €4.40, with €0.80 of that being saved into your holiday fund pocket. Other potential destinations for your rounded up amounts include:
- Instant Access Savings Account
- Flexible Cash Funds
- Cryptocurrencies
- RevPoints
Split Payments
Revolut allows you to split payments with friends and family. This can be done through either a Split Bill or Group Bills:
When you’ve paid for a one-off transaction, say, a dinner with friends, you can select that expense in your transaction history and tap the ‘Split Bill’ button. Next, select your friends from your contact list and click continue. You can then split the bill whatever way you want, using percentages, exact amounts or shares.
Group Bills works like a WhatsApp group for shared expenses. This feature is best suited for friends, family, roommates, or colleagues who regularly split costs. To create one, go to the ‘Payments’ tab, tap the ‘+’ icon, select ‘Group’, then name it, add a photo, and turn on ‘Smart Settle’.
Smart Settle will net the debts owed within your group so fewer transfers are needed to settle up. It’s useful when different expenses are being paid by different members at different times. To get the most out of Smart Settle, everyone should add their bills to the group instead of paying each other outside of it.
Once the group is created, you can add people to it. You can also invite those who don’t use Revolut by sharing a QR code or link from the group settings. Group members not using Revolut will still be able to track bills and see who owes what through the Group Bills website.
To add a bill, open the group and click ‘Add a bill’. If you paid with Revolut, select the expense from your transaction list and choose how to split it. For payments paid outside of Revolut, select ‘Create a custom bill’ to split them. Just enter the amount you paid and give it a description and Revolut will allow you to split it however you wish among your group.
Saving with Revolut
Revolut offers two main ways to earn interest on your cash: Instant Access Savings Accounts and Flexible Cash Funds. While both allow you to earn interest and withdraw money at any time, they work differently.
- Instant Access Savings is a traditional deposit account
- Flexible Cash Funds are low-risk investments
Understanding the difference between these two options is important because they come with different tax rules and protections.
| Plan | Instant Access Savings Rate |
|---|---|
| Standard | 1.50% AER |
| Plus | 1.50% AER |
| Premium | 1.75% AER |
| Metal | 2.00% AER |
| Ultra | 2.25% AER |
Withdrawals can be made at any time, with no limit on the number of withdrawals that can be made each month. The maximum deposit is €100,000.
Flexible Cash Fund Rates by Plan
The interest rate on Revolut Flexible Cash Funds depends on your subscription plan. Higher-tier plans receive better rates:
| Plan | Flexible Cash Funds Rate |
|---|---|
| Standard | 1.17% APY |
| Plus | 1.32% APY |
| Premium | 1.77% APY |
| Metal | 1.92% APY |
| Ultra | 2.02% APY |
Withdrawals can be made at any time, with no limit on the number of withdrawals that can be made each month. There is no maximum deposit limit for Flexible Cash Funds.
Key Insight: When comparing Instant Access Savings and Flexible Cash Funds, always compare the net return after tax, not just the headline interest rate. In many cases, Instant Access Savings may offer a better after-tax return despite a lower advertised rate.
To do this, check the ‘net return rate’ of Flexible Cash Funds in-app and compare that rate to the AER of Instant Access Savings less 33% DIRT (i.e. AER * .67).
Top Tip: Use Income Sorting to automatically send a percentage of your salary to Instant Access Savings and/or Flexible Cash Funds on payday.
Deposit Protection on Flexible Cash Funds
Flexible Cash Funds are not traditional savings accounts so they are not protected under the Deposit Guarantee Scheme. Instead, your investments are protected under the European Investor Compensation Scheme (ICS) up to a maximum of €22,000.
Subscriptions
Revolut Premium, Metal and Ultra plans come with subscriptions to different products depending on the plan you’re on:
| Subscription | Revolut Ultra (Worth up to €4,400 per year) | Revolut Metal (Worth up to €2,600 per year) | Revolut Premium (Worth up to €800 per year) |
|---|---|---|---|
| NordVPN | Complete | Plus | Standard |
| Tinder | Gold | Gold | Plus |
| Financial Times | Premium Digital | Standard Digital | No |
| WeWork | 3 Passes per Month | 1 Pass per Month | No |
| MasterClass | Unlimited | 45+ Classes | No |
| Chess.com | Diamond | Platinum | No |
| ClassPass | 20 Credits per Month | 10 Credits per Month | No |
| Headway | Yes | No | No |
| Headspace | Yes | Yes | Yes |
| Freeletics | Yes | Yes | Yes |
| Sleep Cycle | Yes | Yes | Yes |
| Picsart | Yes | Yes | Yes |
| Perplexity | Yes | Yes | Yes |
| The Athletic | Yes | Yes | Yes |
If you plan on using one or more of these products, a subscription to a Revolut paid plan can quickly pay for itself, as you’re getting the subscription for free with your plan. For example, a standard digital subscription with the Financial Times, included in Revolut Metal, is worth three times the monthly price of Revolut Metal itself.
To activate a subscription, tap your profile photo, select your plan and scroll down to ‘Explore your subscriptions’. You must sign up to the product via the Revolut app to benefit from the free subscription.
RevPoints
RevPoints are Revolut’s loyalty rewards programme. You earn points for free, as you spend. RevPoints can be redeemed for airmiles, gift cards and hotels among many other things. How much RevPoints you earn for your spending depends on your Revolut plan and the card that you use:
If you plan on using one or more of these products, a subscription to a Revolut paid plan can quickly pay for itself, as you’re getting the subscription for free with your plan. For example, a standard digital subscription with the Financial Times, included in Revolut Metal, is worth three times the monthly price of Revolut Metal itself.
To activate a subscription, tap your profile photo, select your plan and scroll down to ‘Explore your subscriptions’. You must sign up to the product via the Revolut app to benefit from the free subscription.
| Plan | Debit Card | Credit Card |
|---|---|---|
| Standard | €10 spend = 1 RevPoint | €10 spend = 1.5 RevPoints |
| Plus | €10 spend = 1 RevPoint | €10 spend = 1.5 RevPoints |
| Premium | €4 spend = 1 RevPoint | €4 spend = 1.5 RevPoints |
| Metal | €2 spend = 1 RevPoint | €1 spend = 1 RevPoint |
| Ultra | €1 spend = 1 RevPoint | €1 spend = 1.5 RevPoints |
Important: RevPoints cannot be exchanged for cash. Once they’re received, via bonus, purchase or otherwise, they can only be spent on the items that are available in the Revolut app.
All RevPoints are valid for 3 years after they are received. After that, they expire and can no longer be redeemed. Revolut allows you to track RevPoint expiry dates within the app.
RevPoints – Key Facts To Know
- RevPoints is a loyalty programme where you earn points on purchases
- Your ability to earn points increases with your plan
- RevPoints can be purchased directly or earned through a Points Pocket
- They can be redeemed for airline miles, hotel stays, product discounts and more
- All points are valid for 3 years and can’t be exchanged for cash
How You Earn RevPoints
The easiest way to earn RevPoints is to spend using your Revolut card. But there are other ways to increase your RevPoints balance too:
You can increase your RevPoints balance by purchasing RevPoints directly in-app. The more you buy, the greater your discount will be. Recurring monthly purchases of RevPoints yield the largest discounts. The standard conversion rate for purchased RevPoints is €0.02 = 1 RevPoint. Purchased RevPoints are always used first.
It’s also possible to use the Round Up or ‘Spare Change’ feature to buy RevPoints with rounded-up amounts.
Warning: if you’re using ‘Spare Change’ to purchase RevPoints, be careful when setting a multiplier. If you use a 10x multiplier, you could very quickly end up with a large RevPoints balance. Remember, RevPoints cannot be exchanged for cash.
Revolut offers bonus RevPoints when you spend your money in-app with Revolut’s partner merchants. You’ll earn a RevPoints multiplier on your spending depending on the merchant. This can be done in a number of ways:
- ‘Revolut Shops’: for buying goods and services
- ‘Revolut Stays’: for booking accommodation
- ‘Revolut Experiences’: for booking a day out
If you’re already planning to buy something available through Revolut, it makes sense to use these features. You’ll earn bonus RevPoints for your purchase. This is especially true for larger purchases like a new laptop or a holiday, as the high euro value of the purchase can result in large RevPoint bonuses.
Top Tip: Compare the Revolut price with the merchant’s direct price to make sure you’re not paying extra for the RevPoints you receive.
Similar to Apple Pay or Google Pay, Revolut has its own payment option called ‘Revolut Pay’ that’s accepted by merchants including O’Neills, Booking.com, Aer Lingus and Dublin Airport Park & Fly among others. When you use Revolut Pay to pay for your purchase, you’ll earn a guaranteed 2x multiplier on your RevPoints. You can use RevPoints to get a discount on some purchases with Revolut Pay if you’d like.
Revolut Pay not only gives you bonus RevPoints but also eliminates the need to enter your card details. Instead, it pays for the transaction directly from your Revolut account. Purchases through Revolut Pay include a Buyer Protection Policy that assists with obtaining refunds from difficult merchants in certain situations.
Points Pocket is a way to earn RevPoints with your money, without having to purchase them. Put simply, it’s a savings account that pays you daily RevPoints instead of interest. Your money remains accessible at any time.
The points you receive depend on the minimum balance in your Points Pocket:
| Minimum Balance | RevPoints per Annum | Effective Interest Rate (€0.02 Exchange Rate) |
|---|---|---|
| €2,500 | 2,700 | 2.16% |
| €5,000 | 6,300 | 2.52% |
| €10,000 | 14,400 | 2.88% |
| €20,000 | 36,000 | 3.60% |
| €30,000 | 63,000 | 4.20% |
| €50,000 | 126,000 | 5.04% |
| €100,000 | 270,000 | 5.40% |
Loyalty points are not subject to tax in Ireland. This means the RevPoints that you earn aren’t taxed. So, you’ll enjoy higher net returns than with standard deposit accounts. If you redeem your RevPoints for more than €0.02 each, you’ll get greater returns. If the value drops below that, your returns will be lower. This would only be a preferred option to a normal savings account if you planned on fully utilising your RevPoints on in-app items, as they cannot be exchanged for cash later on.
Key Insight: RevPoints ‘Points Pocket’ and ‘Spare Change’ work differently. Points Pocket saves your money in an instant access account that pays you RevPoints instead of interest, while Spare Change uses the roundups from your purchases to buy RevPoints with real money.
Revolut rewards customers with bonus points as certain challenges are completed in-app i.e. complete 150 transactions.
How To Redeem RevPoints
RevPoints can be redeemed in return for a number of different things in-app:
You can redeem your RevPoints 1:1 for Airline Miles with over 30 airlines. Whether it’s ‘worth it’ to buy RevPoints will largely depend on what you redeem. Airline Miles are one of the only somewhat reliable ways to make a profit on purchased points. For example, Avios points with Aer Lingus.
If you ignored bulk discounts and bought 5,000 RevPoints for €100, that’s €0.02 per point. If you then used those points for an Aer Lingus flight costing €150, the real value of your RevPoints would be €0.03 each. Seeing as you purchased the points for €0.02 each, you’ve made a profit or saving of €0.01 per point, i.e. €50. Bulk discounts would further improve profitability.
In practice, you’ll only profit when the flight prices exceed the real value of the Avios points needed for a seat. Even at that, the profit you make will need to be greater than the taxes due on the flight, which aren’t covered by Avios. Bearing in mind that not all seats on every flight can be purchased with Avios, scenarios where you could make a decent return include:
- Last minute flights
- Long-haul off-peak flights
- Business class upgrades
Different airlines may offer Revolut users bonus periods where RevPoints can be transferred at an accelerated rate such as 1:1.2. Waiting for such a bonus can be smart as it will increase the likelihood of making a profit.
Other ways to redeem your RevPoints include:
- Gift Cards
- Revolut Pay
- Revolut Stays
- Revolut Experiences
- eSIM data plans
- Airport Lounges
- Donations
Key Insight: Before redeeming RevPoints, check the real value of the offer. Divide the euro value of your purchase by the number of RevPoints required for the transaction. This will give you a price per point. The higher the price per point, the greater the value of the deal. For purchased points, your breakeven price per point will be €0.02 or lower if you receive a bulk discount.
Our Recommendation
Revolut Premium
Revolut Premium is the best all-rounder plan offered by the bank. At €8.99 per month, it gives you:
- Unlimited fee-free foreign currency exchange
- Global travel insurance
- Access to phone call customer support
- €400 fee-free ATM withdrawals per month
- Enhanced RevPoints
- Access to NordVPN Standard, Tinder Plus and 6 other free subscriptions
- Plus everything included in Revolut Standard and Revolut Plus
Pro Tip: If you keep at least €9,200 in a Revolut Premium instant access savings account, you’ll fully cover the cost of your monthly subscription with the after-tax interest that you earn.
Other Options
Revolut Standard is loved by over 3M+ Irish customers. It’s a reliable, free current account that covers all the basics. Salary, direct debits, bank transfers, card payments, and all of Revolut’s budgeting tools. That said, at €3.99 per month, Revolut Plus can be a good entry level paid plan for those with multiple children seeking additional parental controls or anyone spending a lot in foreign currencies.
Revolut Metal is a great option for larger families with more than two children. But the real value of this tier lies in the additional subscriptions, which alone can pay for the plan itself many times over if used correctly. Revolut Ultra is more or less reserved for frequent flyers and hardcore travellers that would make use of benefits such as 3GB monthly global data, unlimited airport lounge access and trip cancellation insurance.
Revolut Frequently Asked Questions
Yes. On the ‘Home’ tab, click ‘Add Money’ and then select your payment method. Next, hit the blue information button and click “Add money automatically”. Choose to automatically top up your account by a certain amount once the balance falls below a certain threshold.
Yes, you can get your salary paid into Revolut. To do this, simply share your account details with your employer.
No, RevPoints aren’t taxable. Loyalty points are not subject to tax in Ireland.
Revolut always displays the exact fee you’re paying in the app before you confirm the transaction.
If someone sends non-Euro currency to your Irish IBAN, like USD or GBP, Revolut automatically detects the currency and places it in the correct sub-account without converting it to minimize fees. This is the benefit of having a multi-currency IBAN.
Yes, the foreign currency accounts on Revolut are protected under the Lithuanian Deposit Guarantee Scheme up to €100,000. Note that all of your deposits on Revolut are aggregated for the purpose of calculating the €100,000 limit.
Don’t panic. Clear your cache and reinstall the app. If that doesn’t work, tap ‘Forgot Passcode’ on the login screen and complete the biometric verification. If your phone is lost, you can use the ‘Lost access to my phone number’ option. Alternatively, use the Revolut web app to log in and resolve the issue that way. You can also contact support@revolut.com.
If Revolut restricted your account, they have likely done so to protect you or to comply with rules and regulations (i.e. AML & KYC). In many cases, restrictions happen due to incomplete identity verification, unverified source of funds or outdated tax information.
If your account has been restricted or blocked you should ensure that you’ve provided Revolut with any information they’ve requested. They aim to unblock restricted accounts within 3 hours of receiving the information they need.
If you’re unsatisfied with the speed at which your case is being reviewed you can lodge a formal complaint with Revolut. Under the Consumer Protection Code (CPC), they’re obliged to acknowledge your complaint within 5 working days and provide you with a Final Response Letter within 40 working days. If they fail to do so, or you’re not happy with the response, you can then escalate the matter to the Financial Services & Pensions Ombudsman (FSPO).
No, Revolut’s customer support team does not have the authority to unblock your account. They may not be able to share exact details about why your account has been restricted either. This is a legal requirement, not a choice. Your account will be reactivated once the review has been completed.
No, Revolut will never keep your money frozen for longer than is required for them to complete their review, unless they’ve been ordered by a court to do so. Once the review is completed, you’ll regain access to your funds, irrespective of whether or not they decide to close your account.
