These personal terms apply starting October 31, 2021.
Click here to view previous personal terms, which will apply until October 31, 2021.
Revolut account
1.
Why this information is important
This document sets out the terms and conditions of the Revolut personal account (the account) and related services, as well as defining other important elements that customers are required to know.
These terms and conditions, together with the Fees Page, the Privacy Policy and any other terms and conditions applicable to Revolut's services, constitute a legal agreement (the contract) between:
● the customer, as the account holder, e
● Revolut Payments UAB (a company incorporated in the Republic of Lithuania with company registration number 304940980 and whose registered office and head office is located at Konstitucijos pr.
21B, 08130 Vilnius, Republic of Lithuania).
The contract is indefinite.
This means it is valid until terminated by the customer or Revolut.
Revolut is authorized by the Bank of Lithuania to issue electronic money under the Electronic Money and Electronic Money Institutions Act of the Republic of Lithuania (Electronic Money Institution License number 42).
The Bank of Lithuania is the central bank and financial supervisor of the Republic of Lithuania whose address is Gedimino pr.
6, 01103 Vilnius, Republic of Lithuania, register number 188607684 (more information about the Bank of Lithuania can be found on the website www.lb.lt, the Bank of Lithuania can be contacted on phone number +370 800 50 500).
Revolut is also subject to the Payment Law of the Republic of Lithuania which governs its activities and responsibilities, the provision of payment services, the rights and obligations of customers and applicable fees.
Revolut operates and provides services on Republic of Lithuania business days and only when those Republic of Lithuania business days coincide with United Kingdom (UK) business days.
It is important that the customer understands how their account works.
You can request a copy of these terms and conditions through the Revolut app at any time.
If the customer would like more information, they may find it helpful to read the Revolut Frequently Asked Questions (but these Frequently Asked Questions are not part of the agreement between Revolut and the customer).
2.
Revolut account type
The account is a payment account that holds the customer's e-money and may contain e-money in several currencies at the same time.
E-money is an electronic alternative to cash.
If the customer or another person deposits money with Revolut, Revolut issues an equivalent value of electronic money in the currency of the customer's or other person's choice.
Revolut keeps e-money in the customer's account, which will be accepted by other people as payment.
When making payments to external accounts, e-money is redeemed at its face value.
In these terms and conditions, the term "money" is used to mean electronic money.
3.
How to use the money in the account
If you have e-money in your account, you can use Revolut's services.
For example, it is possible:
send and receive money to and from other Revolut and non-Revolut accounts;
change money from one currency to another (a transaction called currency exchange).
Available currencies may vary from time to time; make payments and withdraw cash using your Revolut card and view and manage account information.
New features and new services are constantly being added, as reported via the Revolut app.
The primary way Revolut provides its services is through the Revolut mobile app.
However, Revolut also provides its services in other ways, such as through web pages, other apps, APIs, and other means.
These terms apply whenever and in every way the customer accesses the Revolut services.
This means that they apply to all ways in which the customer can access a particular service, even if in these terms Revolut refers to accessing the service through a specific means.
For example, when we talk about Revolut card payments, we mean payments with a physical card, but also with a virtual card or a card added to Apple Pay or GPay.
4.
Is it possible to open a Revolut account?
As a rule, opening a Revolut account is reserved for users over the age of 18.
To persons under the age of 18 to whom Revolut allows you to have a Revolut account or any other service, Revolut will communicate the applicable special terms and conditions.
When the customer requests the opening of an account, Revolut or its representative will ask for information about the customer and the origin of the money to be deposited into the account.
This is done for a variety of reasons, including checking the customer's credit score and identity and fulfilling Revolut's legislative and regulatory obligations.
Revolut's Privacy Policy explains how Revolut uses customer information for this and other purposes.
When Revolut has all the necessary information, it will proceed to open the customer's account.
The customer cannot:
open more than one personal Revolut account; or
use a personal Revolut account for business purposes.
If the customer wishes to use a Revolut account for business purposes, they will need to apply for a business account under the Revolut Business Terms.
5.
How to get information on payments in and out of the account
You can check all payments in and out of your account through the Revolut app.
Revolut will not make any changes to the account information, which will be available through the Revolut app as long as the customer remains so.
If the client needs to keep a copy of the information after his account is closed, he can download it while his account is still active.
If the customer closes his account and wishes to obtain this information, he can send an email to Revolut at feedback@revolut.com.
You can also download information from the app at any time.
Revolut sends a notification to the customer's mobile device when each payment enters or leaves the account.
The customer can deactivate these notifications through the Revolut app but in that case, he must regularly check his payments on the Revolut app.
It is important to know what payments are in and out of the account; therefore it is recommended not to disable notifications.
COMMUNICATIONS WITH THE CUSTOMER
Communications are typically done through the Revolut app and are free.
Other entities in the Revolut group may also communicate with the customer through the Revolut app if this has been agreed with the customer and that entity.
Through this channel information about the account and about any fraud, or suspected fraud, related to it is provided.
It is also notified if there is a threat to the security of the account.
Check the Revolut app regularly for this information.
To ensure account security, it is recommended that you download the latest software for your mobile device and the latest Revolut app version as soon as they are available.
Communications can also be made via SMS or email: it is therefore advisable to check your text messages and email account regularly.
Consents, approvals, acceptances and other representations given by the customer using the Revolut app will have the same legal validity as his signature on a written document.
Agreements entered into by the customer with Revolut via the Revolut app are considered to be written agreements.
Any instruction addressed to Revolut to conduct operations and other actions sent / performed by the customer through the Revolut app will be treated as sent / performed by the customer and valid in the same way as actions performed by the customer.
Communications usually take place in English.
Information update
The customer is invited to keep his data updated and to immediately notify Revolut of any changes to the information provided.
Any information found to be inaccurate will be updated by Revolut.
To meet legislative and regulatory obligations, Revolut may sometimes request additional customer-related information (for example, in the event of increased customer spending).
The customer is requested to provide this information quickly in order to avoid interruption of the account or the services of Revolut.
6.
How to close the account
The customer can close the account, and therefore terminate the contract, at any time by communicating it to Revolut through the Revolut app, by writing to the Revolut headquarters or by sending an email to feedback@revolut.com.
The customer will still have to pay any accrued expenses (for example, in case of requesting an additional Revolut card).
Revolut may also charge the customer for any cancellation fees applicable to other contracts entered into with Revolut (for example, in the event of cancellation of the Plus, Premium or Metal subscription).
Plus, Premium and Metal terms and conditions can be found here.
If the client or Revolut closes the account, Revolut offers the client the option to withdraw the money held in their name (called redemption of e-money).
If the client wishes the money to be sent to him in a currency other than the currency in which the account is held, Revolut will convert the currency at the current rate, charging its usual commission before sending the money to the client.
Revolut card cancellation
If the customer changes his mind and no longer wants the Revolut card, it is sufficient for him to communicate it; Revolut will cancel it.
How can I withdraw from the agreement?
The customer can withdraw from the agreement and therefore terminate it within the first 14 days of opening a Revolut account, by communicating it to Revolut through the relevant app or by sending an email to feedback@revolut.com.
The customer has the right to withdraw without paying penalties and without indicating the reason.
In case of withdrawal from the agreement, Revolut will return any remaining balance to the customer.
7.
What happens after the account is closed
Revolut holds sufficient funds to cover payments approved by the client prior to the closure of the account.
However, any amounts owed by the customer to Revolut during the account opening period must also be paid.
How to access your money after closing your account
For eight years after the closure of the account or the expiration of the Revolut card, the customer can contact customer service (feedback@revolut.com) and request that the money still held in their name be sent.
Once the account is closed, the customer can only withdraw money in the currency of his country of residence.
Account security
8.
Money protection methods
Revolut does not lend customer money to others.
When Revolut learns of a payment to the customer or deposits money, it will dispense the equivalent value of e-money into the customer's account.
Revolut can quickly:
placing money in their ring-fenced accounts held with large global banks in the European Economic Area (isolated accounts are separate from Revolut's own money); or
invest the payment in low-risk assets held in a segregated account with financial institutions.
This procedure is called safeguarding.
Safeguard helps protect the customer in the event of Revolut's insolvency.
In such case an administrator will reimburse the customer from Revolut's segregated accounts.
Unfortunately, the law does not allow Revolut to pay interest to the client and the money in the account is not covered by the deposit guarantee scheme.
9.
Customer and Revolut card security data protection
Revolut takes all possible measures to protect its customers' money.
and invites the customer to do the same, keeping his security data and Revolut card safe.
This means that the customer does not have to keep the security data near the Revolut card and must hide or protect it if he writes or keeps it.
Security data should not be shared with anyone other than an open banking provider, or third party provider, which operates in line with regulatory requirements.
For more information on open banking providers and third party providers, please refer to point 10 of these terms and conditions.
Sometimes it's easy to forget to take steps to keep your money safe.
Here are some tips:
make sure to close the Revolut app when not using it e
keep your mobile phone and e-mail account safe and not allow others to use them.
If the Revolut card is lost or stolen, or if the Revolut card or security data could be used without the customer's consent, contact Revolut via the Revolut app as soon as possible.
If possible, it is also advisable to block your Revolut card without delay via the Revolut app or by calling the automatic number listed below.
If it is later found that there is no security risk to the Revolut card, it can be unblocked.
How to contact Revolut
In writing:
Constitution Ave.
21B, 08130 Vilnius, Republic of Lithuania.
Revolut card blocking:
+370 5 214 3608 (standard telecommunication service provider rates apply).
Notification of theft or loss of your Revolut card or security data
Send a message to Revolut via the Revolut app from someone else's device.
Send a message to Revolut via social media.
Email Revolut at feedback@revolut.com.
By telephone:
+370 5 214 3608 (standard telecommunication service provider rates apply).
10.
Make payments and access accounts via "open banking"
The customer can use open banking to access accounts they have with other providers through the Revolut app and allow other providers to access their Revolut account.
Allow other vendors to log into your Revolut account
The customer may allow other providers to access their account details or to make payments in their own name.
These providers are often referred to as "open banking providers" or "third party providers".
These suppliers will often need to be licensed by a regulator such as the Bank of Lithuania or by the regulator of any other relevant country.
If the customer intends to make use of an open banking provider or a third party provider, it is advisable for the customer to ask these subjects for their (possible) authorization data and to verify it personally (it is possible to carry out this verification through the online register of the authorized companies of the Bank of Lithuania).
Access to the Revolut account through an open banking provider or third party provider is however subject to the Revolut terms and conditions applied for the use of the Revolut account.
Revolut may have to block access to the customer's account by an open banking provider or a third party provider (for example, in the event of fear of fraud, in the absence of the necessary authorization, or if there are legislative or regulatory reasons to act in this sense).
In this case, Revolut will try to inform the customer in advance or as soon as possible thereafter.
The communication will take place via the Revolut app or by email, unless it is illegal to do so or there are valid security reasons not to do so.
Revolut will also unblock third-party provider access as soon as there are no longer any grounds for denying access.
The customer also has the right to block access to their Revolut account by an open banking provider or a third party provider.
If the customer believes that a third party provider is acting without their consent, they should contact Revolut.
When a customer contacts an open banking provider or a third party provider, they authorize them and allow them to access their Revolut account information or make payments from the Revolut account in their name.
How Revolut shares customer information for this and other purposes is outlined in Revolut's Privacy Policy.
Using the Revolut App to Access Accounts with Other Vendors
Through the Revolut app, you can access accounts with other suppliers and make payments from those accounts.
These are the "Open Banking services" offered by Revolut.
which the latter is authorized to provide.
When the customer uses Revolut's Open Banking services to view the information of an account held with another provider, they must authorize Revolut to access that account.
Revolut will not store any sensitive payment data provided by the customer for authorization purposes.
Once authorization has been obtained from the customer to access the account for the related information, Revolut:
will access on behalf of the client his account information (such as account details, transaction history and account features);
will analyze this information to provide the customer with an analysis of the expense (making suggestions, for example, on how to save).
The customer can revoke the consent at any time via the Revolut app.
How Revolut uses customer information for this and other purposes is outlined in the Revolut Privacy Policy.
When the customer uses Revolut's Open Banking services to make a payment from an account held with another provider, they must also authorize Revolut to perform this operation.
Revolut will not store any sensitive payment data provided by the customer for authorization purposes.
Revolut considers that it has received the customer's consent and has been authorized to initiate payments from these accounts when the customer chooses in the Revolut app to use a certain payment service and after the customer has filled in all necessary and required information and sent them to the Revolut app.
11.
Restrictions on Use of the Revolut App or Revolut Card
The customer is encouraged to act in a reasonable and responsible manner when using the Revolut app or the Revolut card.
The Revolut app or the Revolut card must not be used (directly or indirectly):
for illegal purposes (for example, to commit fraud);
in a way that could be deemed detrimental to Revolut's ability to provide the services;
exclusively to send and receive money from a credit card;
for transactions aimed at receiving cash, with the exception of withdrawals from an ATM (automatic teller machine);
to check or use a Revolut account other than your own;
to provide the Revolut card to other people;
to allow anyone else to access or use your Revolut account or app;
to misuse, exploit or circumvent any usage restrictions established by a service provider with which the Revolut card is registered.
For example, it is mandatory to use only one Revolut card for a particular service provider offering a free subscription or trial period; or
to enter into foreign currency transactions for speculative purposes (i.e. to take advantage of the expected rise or fall in the value of a currency) or to exploit discrepancies in the foreign exchange market.
The customer is also encouraged to act respectfully towards Revolut and its support staff, who are available to provide help.
Incoming and outgoing money movements
12.
Adding money to the account
You can add money to your account using a debit or credit card registered with Revolut (called a stored card) or by bank transfer.
The stored card must be in the customer's name.
In case of adding money by bank transfer, it is necessary to use the account details indicated in the Revolut app.
Once the money is received, Revolut will add the equivalent value of e-money to the customer's account.
To avoid delays, the customer is invited to follow the app instructions carefully.
The account details to be used to add money to the account will depend on the currency of the funds in question.
For example, if you want to add British Pounds (GBP) money to your account, you need to use the "British Pound Account" information listed in the Revolut app.
If you use a stored card or bank account denominated in one currency to add money to your account in another currency, your bank or card provider may charge a fee.
Revolut considers that it has received the customer's consent and has been authorized to execute the transaction once the customer has submitted the payment order on the Revolut app.
For more information on adding money to your account, see the Frequently Asked Questions.
Hold money in the e-money account
Once the customer has added money to their e-money account, they can transfer it between the various types of sub-accounts offered by Revolut.
For example, he can transfer money in e-money between currencies or keep it in a personal piggy bank or wallet.
These are all sub-accounts of the e-money account.
All the rules that apply to the customer's main account also apply to his sub-accounts, for example, they can be accessed by debt collection agencies.
What happens in case of insufficient balance on the Revolut account
Revolut knows it's important to be able to make payments from your account at any time.
The customer can authorize Revolut to add a specific amount of money to the account from their stored card in the event that the value of the money deposited in the account falls below a certain amount.
This is called automatic add.
The customer can cancel an automatic add at any time via the Revolut app or by contacting the card provider.
Payment limits
Due to anti-money laundering and terrorist financing requirements or limits applied by third parties, Revolut may limit how much the customer can receive or pay from their account or how much they can withdraw or spend using their Revolut card.
Furthermore, it could limit the value of the currency exchange that can be carried out at a given moment or in a period of time.
Limits may vary from time to time.
Information regarding these limits can be found here.
Currency consistency
It is important that any payments to the customer are made in the account currency.
If not, the payment will need to be converted.
This means that the amount credited to the account may be higher or lower than expected.
In such event, Revolut will not be liable for any losses.
13.
Money transfer between Revolut accounts
You can send and receive money to and from other Revolut accounts.
These types of payments are called Instant Transfers.
All instant transfers are received immediately.
You can make an instant transfer to another Revolut user's account by selecting them from the contact list in the Revolut app, using their username or any other available identification method and following the on-screen instructions.
Group piggy banks
If the customer is a member of a Group Piggy Bank, he can make instant transfers to that Piggy Bank as well.
A Group Piggy Bank is an account created and controlled by a single Revolut user.
All members of a Group Piggy Bank can see the Piggy Bank's transactions and leave it at any time.
Only the Revolut user who set up the Group Piggy Bank (the owner) can automatically view all Piggy Bank transactions, close the Piggy Bank, add or remove other members, and allow Group Piggy Bank members to withdraw money (or revoke their own access).
It is recommended that the customer enter a Group Piggy Bank or send money to the Piggy Bank, only if he trusts the owner as the owner of the funds; if the owner at any time stops being a Revolut account holder or his account is blocked, then the customer will not be able to access the funds in the Group Piggy Bank.
Make purchases using Pay with Revolut
It is also possible to make an instant transfer to a company that uses "Pay with Revolut" to receive payments.
This can be done in two ways:
You can request Revolut to make an instant transfer for a given amount from your Revolut account to a business, either instantly or on a set date or on future dates (for example, to not pay with your card at the cashier).
These payments are called "Customer Initiated Payments".
You can agree that a company can collect instant wire transfers from a customer's Revolut account (for example, if you allow a company to regularly collect payments from their account, such as for a subscription).
These payments are called "Merchant Initiated Payments".
Payments initiated by the customer
Payments initiated by the customer must be for a set amount.
The amount set will be a one-time payment.
You can turn off recurring customer-initiated payments to a business at any time (but you'll need to do this the day before the deadline to cancel them).
In the payment or registration procedure, you will be asked to confirm and authenticate the amount of a payment initiated by the customer, and any recurrence of the same.
The company will only be paid the confirmed amount and will not be able to collect further payments without the customer's permission.
Payments initiated by the merchant
Merchant-initiated payments can be for any amount, but you need to set limits on the frequency and total or individual value of merchant-initiated payments that a business can collect.
You can also turn off merchant-initiated payments to a business at any time.
However, if a company asks Revolut to collect a merchant-initiated payment from the customer's account and that amount is within set limits, we will not ask the customer to approve it before proceeding.
The customer will be notified in the Revolut app every time a customer initiated payment or a merchant initiated payment is made from their Revolut account.
Protection when using Pay with Revolut
Pay with Revolut is a service that Revolut offers businesses to allow payments directly from the customer's Revolut account, without having to provide card details.
However, Revolut wants Pay with Revolut to be a convenience for both customers and businesses.
Hence, it has created a Buyer Protection Policy that applies when making an eligible purchase using Pay with Revolut.
Merchant initiated payments refunds
Merchant-initiated payments are collected from your account based on a previously provided consent.
We encourage companies to notify the user of the amount of any payments initiated by the merchant before collecting them.
However, if you believe that a payment initiated by the merchant in error has been withdrawn from your account, you can request a refund within 8 weeks of payment.
To request a refund, you can contact Revolut via chat.
Within 10 working days we will notify you if the refund has been successful.
14.
Making other types of payments
It's easy to send money to your own or someone else's bank account.
You can make a one-time payment or set up a recurring payment.
To do this, simply enter the bank code and the account number (or, for international payments, BIC and IBAN) of the account to which you want to send the money in the Revolut app and follow the instructions.
Revolut may need to request other information as well.
Use of the Revolut card
The Revolut card also allows you to make payments or withdraw cash.
The customer can do this by entering his Revolut card details (card number, expiration date and CVC number) or his PIN.
Revolut will treat these actions as the customer's consent to make payments or withdraw cash from their account.
The customer can also give his consent to make payments with his Revolut card:
touching your Revolut card at the terminal (a "contactless" transaction) and performing other actions on the electronic card reader.
No PIN code is required for contactless payments up to a certain amount;
signing for the purchase on the receipt issued by the electronic card reader;
inserting his Revolut card into the e-card reader and doing something else that the e-card reader requests without entering his PIN code (for example, when paying tolls, parking fees, and so on);
providing your Revolut card number and other details and consenting to initiate payment orders with debiting your account when entering into an agreement with a merchant or service provider; or
providing your Revolut card number and other details to a merchant or service provider and authenticating this payment with a 3D Secure method.
This is a step the customer will need to take when shopping online using their Revolut card, if a merchant or service provider has implemented this method.
In this case, a pop-up will appear on the merchant's or service provider's website asking to verify the payment and the customer will receive a push notification on their Revolut app.
To complete the payment, the customer will need to open the app and confirm the transaction.
When using your Revolut card to make a withdrawal from an ATM or make a payment (for example, in a shop or restaurant), Revolut considers the payment as authorized by the customer unless:
the customer notifies Revolut that the money has been stolen from their account; or
the customer believes that Revolut has not followed its instructions correctly.
Revolut may charge a withdrawal fee.
For more information on this, see the commissions page.
Revolut is not responsible for any losses if payments are refunded in a different currency.
Sometimes the money that the customer has asked Revolut to transfer to a person is not paid into the person's account but returned to Revolut.
In the event that Revolut has had to perform a currency exchange at the time of sending the payment, and can prove that it has proceeded correctly, when it returns the money to the customer it will convert it back to the original currency.
This means that the amount credited back to the customer's account may be less than the payment made (or may be greater).
Revolut will not be liable for any losses arising therefrom to the customer.
PAY ATTENTION TO ENTERING THE DETAILS OF THE PERSON WHO TO MAKE THE PAYMENT
Make sure that the details of the recipient of the payment are entered correctly.
Otherwise, your payment may be delayed, or your money may be lost if it is sent to the wrong account.
Make sure you know the person to whom you are making a payment.
If you are approached by a person who asks you to make a payment but you are unsure of their identity or the purpose of the payment, it is possible that it is a scam and Revolut may not be able to recover the money.
If the person to whom you wish to make the payment does not receive the money, Revolut will not be liable if the payment was processed correctly but the data provided was incorrect.
Upon customer request, Revolut will endeavor to recover the money, but this may be easier in some countries than others.
By contacting the customer support team via the Revolut app, you can get information on how to get the money back, including details of the person who actually received the payment (if Revolut has one).
The European Economic Area is made up of all the countries of the European Union, as well as Norway, Iceland and Liechtenstein.
A "business day" means a day on which banks are open in both the Republic of Lithuania and the United Kingdom.
SEPA direct debits
Depending on the place of residence, the customer may be able to make direct debits in euros from their account to bank accounts held in the Single Euro Payments Area (which includes all EEA countries plus Switzerland, Monaco and San Marino).
These payments are called SEPA direct debits.
The bank where the account to which the direct debit is to be paid is held (the payee's bank) is responsible for requiring Revolut to pay it on its due date.
The customer can:
limit the amount of a SEPA direct debit or the frequency of its payment from your account (or both);
cancel SEPA direct debits made from your account e
choose to allow payment of SEPA direct debits to specific individuals only.
This is possible by contacting Revolut via the Revolut app.
If the customer has set up a SEPA direct debit, the beneficiary's bank will request it on the business day preceding the due date and Revolut will make the payment to the bank on the due date.
If the due date falls on a non-working day for the beneficiary's bank (typically a weekend or public holiday), the payment will be received by the bank the next working day.
For SEPA direct debits, please refer to the Frequently Asked Questions.
Payments for services provided by other companies in the Revolut group
The Revolut app is more than just an e-money account.
It is a platform from which the customer can access a wide range of services.
Not all services are provided by Revolut Payments UAB.
Some services are provided by other companies in the Revolut group.
In this case, the customer must agree to separate terms and conditions with these companies, which govern these services.
For example:
If the customer uses cryptocurrency services, these services are provided by Revolut Ltd and governed by the Terms & Conditions for cryptocurrencies that have been accepted.
Revolut does not provide these services and the customer has no rights against Revolut with respect to the aforementioned Terms & Conditions for cryptocurrencies.
If the client uses precious metals services, these services are provided by Revolut Ltd and governed by the Terms & Conditions for precious metals which have been accepted.
Revolut does not provide these services and the customer has no rights against Revolut with respect to the aforementioned Terms & Conditions for precious metals.
If the client uses investment and savings services, these services are provided by Revolut Ltd and governed by the Terms & Conditions for investments and savings which have been accepted.
Revolut does not provide these services and the customer has no rights against Revolut with respect to the aforementioned Investment and Savings Terms & Conditions.
If the customer uses Stays services, these services are provided by Revolut Ltd and governed by the Terms & Conditions for Stays which have been accepted.
Revolut does not provide these services and the customer has no rights against Revolut with respect to the aforementioned Terms & Conditions for Stays.
Any other service provided by a company of another group.
While Revolut does not provide these services, they normally involve the need to make a payment to or from the customer's e-money account with Revolut.
For example, when the customer buys or sells cryptocurrency, a payment will be made to or from their e-money account at Revolut for the cryptocurrency.
In this case, the credit or debit will be made to the customer's account with Revolut, as requested by other companies in the group on the basis of the terms and conditions accepted by the customer with the aforementioned companies.
Sometimes, Revolut may create a sub account in the customer's e-money account if needed for these services.
For example, if the customer uses the investment and savings services, in order to use these services, he will have a secondary account that he will have to fund.
15.
What if a payment was sent to the wrong account, was not sent at all or was delayed
Revolut will always try to process payments correctly and on time, however there may be a problem and the payment may be delayed or not reach the person concerned.
In case of a problem and:
the person making the payment to the customer;
the bank account to which the customer wishes to make the payment, or
the retailer to whom the customer makes the payment;
located within the EEA, the customer must notify Revolut via the Revolut app.
This communication must be made as soon as possible and in any case within 13 months from the date of withdrawal from the customer's account.
If the money is not received on the account to which the customer sent it, Revolut will refund the payment to the customer's account.
If the customer has incurred expenses or interest as a result of Revolut's mistake, Revolut will reimburse the latter as well.
If Revolut has received a payment in favor of the customer, but the money has not been paid into the account on time, Revolut will immediately credit the payment amount to the account.
These rules do not apply to currency exchanges.
What to do if the customer thinks they have made a mistake
Before making a payment, always check that you have entered the correct payee details.
It's always a good idea to make a test payment of a small amount (e.g. € 1), to make sure your account information is correct.
Always pay attention to the following:
Always make sure you know the person to whom you are making a payment.
If you are approached by a person who asks to make a payment in your favor but you are unsure of their identity or the purpose of the payment, it is possible that it is a scam.
The contacts visible in the Revolut app are taken from the names and phone numbers saved by the customer on his phone, data not verified by either Revolut or anyone else.
This means that if the wrong number or name is stored on the phone, the payment will go to the wrong person and the customer may lose the amount in question.
Usernames visible in the Revolut app can be similar to other usernames and can be edited by individual users.
Revolut will take appropriate action to eliminate inappropriate usernames, but neither Revolut nor anyone else will verify.
This means that if you are unsure whether the person is who they claim to be, the payment could go to the wrong person.
Revolut is not responsible for the payment made to the person named by the customer, even if the customer has provided the wrong account number, username or phone number.
In any case, if the customer asks to get their money back, Revolut will endeavor to obtain this result.
If the law permits, Revolut may also attempt to obtain information about the beneficiary so that the customer can try to recover the money in person.
While attempting these solutions, Revolut does not guarantee to have the desired result, and in some cases it will fail to achieve the goal.
What to do if Revolut or someone else made a mistake?
If, on the other hand, a payment is mistakenly paid to the customer's Revolut account by another person, the customer will have to refund it.
If the person who made the payment mistakenly takes legal action to get the amount back, Revolut may need to share customer data.
For these reasons, always check your account regularly to make sure everything is working properly.
16.
Sending and receiving money via a payment link
You can easily send money to a friend who does not have a Revolut account by creating a "payment link".
Through a payment link, you can agree to pay a certain amount without entering the details of the account on which the payment will be made.
Instead, you choose the amount, share the link and the recipient personally enters their account details.
To do this, you need to go to the Payments tab of the Revolut app, enter the amount you want to send, click on "create payment link" and send the link to the friend in question.
You can also create a payment link to receive payments and send that link to your friend.
Once the link has been sent to the friend, the friend will need to complete the payment link by entering the relevant data.
If the customer sends money using a payment link, their friend will need to enter their bank account details in the link.
The payment will then be made to the friend's bank account, as if the customer had entered that data in the app personally.
Sometimes, due to the size or nature of the payment, the customer's friend will be asked to join Revolut to complete the transaction.
Once you have done this, the payment will be made to your Revolut account.
If the customer receives money using a payment link, the friend must enter their debit or credit card details in the link within 24 hours.
The payment will then be made from that card.
Revolut may place limits on the amount the customer can request using a payment link.
This limit will be shown in the app.
Sometimes, Revolut may need to ask the customer's friend to open a Revolut account in order to receive a payment for other reasons as well.
In the event that such person does not open a Revolut account, Revolut will not be able to credit or debit the payment.
All payment links have a time limit.
Once this limit is exceeded, the link will expire and that person will not be able to make or receive the payment.
Revolut will indicate in the app what the time limit is when the customer creates the link.
When the customer creates a payment link to send money, they agree to make a payment without entering their account details.
Payment will be made in favor of the person whose data was entered in the link.
The customer must pay attention to where he shares a link and with whom.
For example, if the customer shares a "Send Money" link on a friend's social media profile, someone else may click on the link and request the money.
If the customer is concerned about a payment link they created, they can delete it (before it's completed) through their transaction history in the app.
17.
Exchange rate used
Further details on the fees applied by Revolut are shown on the Fees page.
Revolut's up-to-date exchange rates can also be viewed at any time on the Revolut app.
Standard and Plus users can set an exchange rate at this rate each month.
The amount set depends on the client's base currency and the one indicated by Revolut on the commission page.
Standard and Plus users who convert more than the amount set, start paying a fee for correct use (does not apply to Premium and Metal customers).
Once a currency is converted, the transaction history in the Revolut app will also show the exchange rate used by Revolut.
The exchange rate may vary between the time the customer notifies Revolut of the intention to change the currency and the time that Revolut makes the conversion.
This means that if the customer asks Revolut for a currency exchange, they may receive a slightly higher or lower amount than expected.
Revolut is not responsible: for any loss of money incurred by the customer as a result of currency conversion, or for commission charges or loss of money due to the use of the Revolut card in another country and the customer's request to the retailer (or bank dealer) to convert (the example of a Lithuanian customer traveling to Japan is shown below.
When paying the bill in a restaurant, the customer agrees to pay in euros instead of yen.
This means that it has requested the retailer's bank to convert the currency.
Revolut cannot be held liable in the event that the bank applies a more unfavorable exchange rate or commission charges).
18.
Canceling a Payment or Currency Exchange
You can cancel a payment (including a recurring payment or SEPA direct debit) at any time up to the end of the business day preceding the payment from your account.
It is not possible to cancel a payment on the same day it needs to be withdrawn from your account.
This means that it is not possible to cancel transfers between Revolut accounts.
Also, it is not possible to cancel a currency exchange once Revolut has received the request for execution from the client.
Canceling a bank transfer is easy.
You can cancel a bank transfer through the Revolut app.
19.
Time required to make a payment
Revolut recognizes that, when making a payment, one of the most important aspects is the timely receipt by the payee.
Receipt of payment by the beneficiary's bank depends on the time the customer notifies Revolut of the payment order and the desired payment currency.
Revolut's payment times are shown below.
All times in these terms and conditions are based on UK time, that is, Greenwich Mean Time (GMT) from October to March and British Summer Time (BST) from March to October.
Instant transfer to a Revolut account:
The customer can provide their payment instructions at any time and Revolut will receive them immediately.
Payment to someone else's bank account:
If the customer provides their payment instructions before 13:00 (or 15:00 Vilnius time) on a business day, Revolut will receive them immediately.
If the customer provides their payment instructions after 1pm (or 3pm Vilnius time) on a business day, Revolut will receive them the next business day.
If the customer provides their payment instructions on a non-business day, Revolut will receive them the next business day.
Transfer to a bank account via payment link:
The customer can provide their payment instructions at any time and Revolut will receive them when the beneficiary enters their bank details (provided this is done within 24 hours of the customer sending the payment link).
Payment to a bank account at a future date (such as a recurring payment):
The customer can provide their payment instructions at any time and Revolut will receive them on the same business day (if the payment is to be withdrawn from the account on a business day) or the next business day (if the payment is to be withdrawn from the account on a business day). non-working day).
The table below indicates when Revolut makes payments in different currencies.
If the customer's payment currency is EUR or GBP:
once withdrawn from the customer's account, the payment will reach the beneficiary's account on the same business day.
Any currency other than EUR or GBP, to an EEA (non-UK) bank account:
once withdrawn from the customer's account, the payment will reach the beneficiary's account up to four business days thereafter.
Any currency other than EUR or GBP, on a bank account outside the EEA area:
once withdrawn from the customer's account, the payment will reach the beneficiary's account as soon as Revolut manages to get the payment to its destination.
The time required depends on where the beneficiary's bank is located.
If the customer requests a currency exchange from Revolut, he will receive the converted e-money immediately.
20.
Refusal or delay of a payment by Revolut
Revolut must refuse to make a payment, or delay a payment (including incoming and outgoing payments), under the following circumstances:
if legislative or regulatory requirements prevent Revolut from making the payment or require Revolut to perform further checks;
if the customer has violated these terms and conditions in a way that, in the reasonable opinion of Revolut, justifies the refusal or delay of payment;
if Revolut believes that the processing of the customer's order may violate any of these terms and conditions or that this provision does not contain all the information necessary for Revolut to make the payment correctly;
if the amount is higher, or would result in an overrun, than the limit applicable to the customer's account.
The limits set are shown here;
if there are insufficient funds in the customer's account to make the payment and to cover any expenses;
if a bankruptcy declaration is issued against the client or if the client has entered into an arrangement with creditors;
if, even after making every reasonable effort, Revolut is unable to make the payment on time;
if a third party prevents Revolut from making the payment (for example, if Mastercard or Visa does not allow a payment or cash withdrawal using the customer's Revolut card);
if Revolut has asked the customer for important information that it reasonably needs and the customer has not provided such information; or
if Revolut has suspended the customer's account.
Revolut may also refuse to issue a new Revolut card if the customer does not have sufficient funds in their account to pay the card issuing or delivery charges.
IF IT REFUSES TO MAKE A PAYMENT, REVOLUT ALWAYS SEARCHES (UNLESS IT IS ILLEGAL OR TECHNICALLY IMPOSSIBLE) TO COMMUNICATE THE REFUSAL TO THE CUSTOMER, THE REASONS FOR SUCH REFUSAL (IF POSSIBLE) AND THE PROCEDURE TO CORRECT ANY ERRORS TO THE FACTORS REJECTION.
SUCH NOTICE WILL BE GIVEN TO THE CUSTOMER AS SOON AS POSSIBLE AFTER REFUSAL.
If possible, Revolut will use the Revolut app to notify the customer of the refusal to make a payment.
To find out the reasons for the refusal and to solve any problems, the customer is invited to contact Revolut through the app.
Revolut will not be liable for any losses suffered by the customer due to the refusal or delay of payment.
21.
Third Party Fees for Making or Receiving Payments
Revolut does not charge fees for receiving payments.
Neither does Revolut charge any fees for sending local payments in the customer's base currency.
When paying in another currency or to another country, Revolut may charge a fee for cross-border or SWIFT payments.
Revolut's fees are listed on the Fees Page.
Before making a payment, the customer will always be informed in the Revolut app about the possible application of commissions and their amount.
Other banks involved, such as the beneficiary's bank or some correspondent or intermediary banks (banks supporting the transfer of funds between other banks) may sometimes withhold their fees from the payment sent or received.
This could mean that the customer or the customer's payee will receive a lower amount than expected.
You could, for example, only receive € 90 from a sent amount of € 100, because the sender's bank charged a € 10 fee.
This could happen if:
the bank of the person to whom you send or receive a payment is located within the EEA, and the payment is made in a currency other than that of an EEA member state; or
the customer makes or receives a payment to or from someone whose bank is located outside the EEA.
For the avoidance of doubt, Revolut will not charge any fees to make or receive payments, but will always pay the customer the full amount received from another bank.
Similarly, it will always send the full amount that the customer requests to send; however, Revolut cannot guarantee that the full amount will be paid into the beneficiary's account without any fees being charged by another bank.
Procedure in case of problems
22.
What happens if an account is stolen?
The customer is invited to inform Revolut as soon as possible via the Revolut app (and in any case within 13 months from the date on which the money was withdrawn from the account).
Revolut will return the money to the customer's account if any of the following conditions apply:
the customer could not have known that his security data or his Revolut card were at risk of misuse;
the payment was made due to an error made by a person for which Revolut is responsible;
the payment was withdrawn after the customer informed Revolut that someone knew his security details or that his Revolut card was lost or stolen, or Revolut did not provide the customer with a means of communicating this;
the law required Revolut to have the customer follow certain instructions at the time of the payment order and Revolut failed to do so; or
the customer has made a payment for certain goods or services purchased online or through another indirect method (there are some types of contract to which this may not be applicable, eg.
rental accommodation; Revolut will be able to provide the customer with more information in this regard once it is made aware of the problem).
Revolut will also reimburse all expenses incurred by the customer as a result of withdrawing the payment from his account.
Revolut will not make any refunds in the event that the customer has acted maliciously, or has intentionally or recklessly failed to keep their security data or Revolut card safe (unless the customer has informed Revolut prior to withdrawal payment from the account).
For example, Revolut will not issue a refund if the customer has provided a person with their Revolut card PIN and that person has made a card payment without the customer's knowledge.
23.
Possibility of blocking the Revolut account or card by Revolut
The safety of customers' money is important to Revolut.
Revolut may prevent the customer from making payments from the Revolut card account if they have reasonable concerns regarding security or the possibility of fraudulent use or without the customer's consent.
Revolut may also need to block the customer's account or Revolut card to meet legal obligations under the laws of the Republic of Lithuania.
Revolut will inform the customer via the Revolut app as soon as possible or as soon as possible after the account blocking of the Revolut app or Revolut card.
Revolut will also communicate the reasons for such blocking (unless doing so reduces the security of Revolut or the customer or is illegal).
Revolut will unblock the customer's account as soon as the reasons for the block no longer exist.
24.
Possible suspension or termination of the client's account by Revolut
Revolut may immediately close or suspend your account (including access to services provided by other entities in the Revolut group) and terminate your access to the Revolut website, in exceptional circumstances.
Exceptional circumstances include the following:
Revolut has valid reasons to suspect the customer's fraudulent and in any case criminal behavior;
the customer has not provided Revolut (or someone acting on its behalf) with the necessary information, or Revolut has valid reasons to believe that the information provided by the customer is inaccurate or untrue;
the customer has violated these terms and conditions in a serious or persistent manner and has not remedied it within a reasonable time of Revolut's request;
Revolut has information to believe that the customer's use of the Revolut app causes damage to Revolut or its software, systems or hardware;
Revolut has valid reasons to believe that continued use of the account by the customer could damage its reputation or goodwill;
Revolut has asked the customer to repay a debt and the customer has failed to do so within a reasonable time;
the customer has been declared bankrupt; or
Revolut is required to close the account by virtue of law, regulation, court order or instructions from an ombudsman.
Additionally, Revolut may decide to close or suspend the customer's account for other reasons.
In such event, Revolut will contact the customer via the Revolut app with at least sixty (60) business days' notice.
The closure of the account and the termination of the contract may also terminate any other contracts in existence between the client and Revolut, or through Revolut.
For more information, see the Revolut app or contact Revolut.
25.
Revolut Modification of These Terms
Revolut will modify these terms and conditions only for the following reasons: Revolut believes that this will make them easier to understand or be more useful for the customer; to reflect how Revolut's business is managed, in particular if the change is necessary due to a change in the way a financial system or technology is provided; to reflect the legislative or regulatory requirements applicable to Revolut; to reflect changes in the operating costs of Revolut's business; or because Revolut is modifying or introducing new services or products that affect existing Revolut services or products covered by these terms and conditions.
Information about changes
If Revolut adds a new product or service that does not change the terms and conditions of the customer's account, it may add the product or service immediately and notify the customer prior to use.
If not, Revolut will provide the customer with at least 60 days' notice via the Revolut app and / or via email before making any changes.
Revolut assumes that the customer accepts the change, unless they communicate their intention to close the account before the change is made.
26.
Customer refund rights for Revolut card payments and SEPA direct debits
Payments with Revolut card
The customer can ask Revolut to refund an amount withdrawn from his account under all of the following conditions:
the customer has agreed to withdraw a payment, but has not agreed on the actual amount of the same;
the amount withdrawn is higher than that reasonably expected by the customer in all circumstances (including the customer's spending pattern);
the payee is located in the EEA;
the customer has not authorized the payment directly to Revolut;
Revolut and the payee did not provide the customer with payment information during the four weeks prior to the withdrawal e
the customer requests a refund from Revolut within eight weeks from the date the payment is withdrawn from the account.
For example, the customer could get a refund if they gave a hotel authorization to charge the Revolut card for all of their minibar charges, but the hotel charged more than the customer could reasonably expect at the time they granted it. such authorization.
Revolut may request additional information from the customer to investigate the matter.
Revolut will issue a refund, or notify the customer why it cannot be refunded, within 10 business days from the date the customer provided the requested information.
SEPA direct debits
If the customer has made a SEPA direct debit, the above conditions do not necessarily apply.
The customer will be entitled to an unconditional refund if he contacts Revolut within eight weeks of the date the payment is withdrawn from the account.
Return of refunds
If Revolut makes a refund and later finds that the customer was not eligible, the customer must return it.
27.
Revolut's liability if there is a problem with the customer's account, the Revolut card or the Revolut app
Revolut will make every reasonable effort to ensure that its services are not interrupted and are accessible at a reasonable speed.
However, it cannot guarantee this permanently, nor can it guarantee that the services will be free from defects.
Revolut may also rely on third parties to provide services to the customer, which can sometimes lead to an interruption of services.
Revolut will always make every effort to resolve any problems with its services, regardless of the cause.
If the customer has a Revolut card, Revolut will notify him of any changes to the system that affect the possible use of the card.
Revolut will not be liable for losses resulting from non-compliance with its obligations to make payments into or out of the customer's account due to: legislative or regulatory obligation; unpredictable events beyond Revolut's control, which were inevitable at the time; criminal actions or any other illegal actions of third parties resulting in damage to the customer or any other person (unless specified directly in these terms and conditions); o account blocking in the implementation of legal requirements, including those relating to anti-money laundering and terrorist financing.
If the customer cannot use the Revolut card for any reason, Revolut's sole responsibility towards the customer will be its replacement.
Revolut will only be liable for foreseeable losses.
In the event of a breach of contract by Revolut, Revolut will only be liable for losses that it could have foreseen at the time of entering into the contract or for losses resulting from Revolut's fraud or gross negligence.
Revolut will not be liable to the customer for any of the following events, direct or indirect, arising in relation to these terms and conditions: loss of profit; loss of goodwill or damage to the customer's reputation; loss of contracts or business opportunities; loss of anticipated savings, or indirect damage.
Nothing contained in these terms and conditions eliminates or limits Revolut's liability for death or personal injury resulting from Revolut's negligent conduct, or willful misconduct or fraudulent claims and misrepresentations.
28.
Customer's debt to Revolut
The customer cannot borrow money from their account (for example, make payments exceeding the value of the funds held), even if they are eligible for one of Revolut's credit products.
If the customer's balance becomes negative (for example, because the customer does not have enough e-money to cover the commissions), the customer must within 7 (seven) days upon request of Revolut top up his account with the amount necessary to correct the negative balance.
In the event of a customer's debt to Revolut, Revolut may withhold the amount owed by the customer from any amount owed by Revolut to the customer.
This is called Revolut's right of compensation.
Payment of commissions or other amounts owed by the client to Revolut (other than third party fees for making or receiving payments)
The fees payable by the client to Revolut are listed on the Fees Page.
If the client owes Revolut commissions (other than third party commissions for making or receiving payments) or any other sum, Revolut will withdraw the amount owed from the client's account, in the currency of the client's country of residence. (the customer's base currency).
If the funds held on the account in the client's base currency are insufficient, Revolut will withdraw the equivalent value from the funds held in another currency.
If the funds in the account are not sufficient to pay the commissions or other amounts owed by the client to Revolut, Revolut reserves the right to recover the amount in another way, as illustrated below.
The customer may be responsible for paying taxes or charges applicable to payments made or received through their account and for which Revolut is not responsible for their collection.
Sometimes, for example, if the customer is legally resident in the Republic of Ireland, or withdraws money via an ATM in the Republic of Ireland, Revolut may collect the relevant amount of stamp duty up to the legal maximum provided by the agency of the 'Irish Revenue Commissioners.
The customer is therefore invited to check personally.
If the customer has a debt to Revolut and does not top up the account or does not pay the debt within seven days, Revolut can recover the related amount in the following ways:
by withdrawing the amount due from the customer's stored card;
exercising Revolut's right of set-off; or
taking other legal action to recover the amount owed, for example by using a law firm or a debt collection company.
If Revolut takes any (or all) of these actions, it may reasonably charge the cost to the customer.
29.
Customer Liability for Revolut Losses
The customer may be liable for certain losses to Revolut
In case of violation of these terms and conditions by the customer and / or consequent loss suffered by Revolut, the following applies:
the client will be responsible for the foreseeable losses incurred by Revolut as a result of actions taken by the client (Revolut will try to minimize losses); And
the client will also be responsible for reasonable attorney's fees, arising as a result of the losses incurred by Revolut.
30.
How to lodge a complaint
If the customer is not satisfied with the service, Revolut will try to remedy it
While always doing its best, Revolut is aware that sometimes things may not go as planned.
To make a complaint, the customer is requested to contact Revolut.
Revolut will accept and consider any complaints submitted by the customer.
Revolut's final response to the customer complaint, or a letter explaining why the final response was not completed, will be provided to the customer within 15 working days after the complaint and, in exceptional circumstances, within 35 working days (it will be communicated to the customer if this is the case).
Out-of-court dispute resolution authority for financial services complaints
If the customer is not satisfied with how Revolut has handled his complaint, he can report it to the Bank of Lithuania within 1 (one) year from the date of submission of the complaint.
In this case, the Bank of Lithuania will act as an out-of-court dispute resolution authority dealing with disputes between consumers and financial service providers.
The address is: Žalgirio g. 90, 09303 Vilnius, Republic of Lithuania.
For more information, please refer to the relevant website.
If the client wishes to have the possibility to apply to the Bank of Lithuania as an out-of-court dispute resolution authority, he must submit the complaint to Revolut within 3 (three) months from the day he discovered or should have discovered the alleged violation of his rights or legitimate interests arising from the contract with Revolut.
The examination of the complaint with the Bank of Lithuania is free of charge.
The authority for out-of-court settlement of consumer disputes not related to the jurisdiction of the Bank of Lithuania is the State Authority for the Protection of Consumer Rights.
The address is: Vilniaus g. 25, 01402 Vilnius, Republic of Lithuania.
For more information, please refer to the relevant website.
The customer can also rely on the mandatory consumer protection regulations of the country of the European Economic Area in which he lives.
The customer may also file a complaint with the respective out-of-court dispute resolution authorities that handle consumer complaints in his country in relation to the financial services offered by Revolut.
The list of these authorities is available here.
Out-of-court dispute resolution authority for complaints relating to the processing of personal data
The customer has the right to lodge a complaint with the State Data Protection Inspectorate (SDPI), the Lithuanian supervisory authority for data protection issues.
The address is: L. Sapiegos g. 17, 10312, Vilnius, Republic of Lithuania; email: ada@ada.lt.
For more information, please refer to the relevant website.
More information
Click here for more information on the complaints handling procedure.
How to lodge a complaint
If the customer just wants to talk to someone about a problem they have, they can contact Revolut through the Revolut app.
Matters are usually resolved quickly through the app.
It is likely that the customer will need to provide Revolut with the following information.
If desired, the customer can submit the complaint using this form.
Or send an email to formalcomplaints@revolut.com.
The following information should be provided:
name and surname;
telephone number and email address associated with the account;
Description of the problem;
date on which the problem arose e
method of resolution of the problem desired by the customer.
Revolut will review the complaint and respond to the customer via email.
Communication with the customer will be in English, unless otherwise indicated by Revolut.
Regardless of the foregoing, the customer always has the right to address the above out-of-court dispute resolution authorities in connection with any complaint about the Revolut service.
If the customer believes that Revolut has violated the law, he also has the right to go to any competent court.
Legal provisions
31.
Revolut's authorization to process the customer's personal data
To provide the services provided for in the contract, Revolut will have to collect information about the customer.
Under the data protection law, Revolut is the "data controller" of the customer's personal data.
For more information on how Revolut uses customer personal data, please refer to the Revolut Privacy Policy.
By signing the contract, the customer gives Revolut consent to the collection and storage of his personal data for the purpose of receiving services from Revolut.
This does not affect the rights and obligations of Revolut or the customer under the Data Protection Act.
The customer can revoke their consent by closing the account, which will result in the termination of the contract between Revolut and the customer.
In such event, Revolut will cease to use customer data for the purpose of providing its services, but may need to retain such data for other legal reasons.
Confidentiality
By entering into this agreement the client gives Revolut permission to disclose the following information to other entities of the Revolut group (including Revolut Bank UAB and Revolut Ltd):
the fact that the client is a Revolut client;
the services that Revolut provides to the customer;
the account number;
the account balance;
the operations performed or to be performed on behalf of the customer;
the client's debt obligations with Revolut;
the circumstances in which Revolut provides the client with financial services;
the client's financial situation and assets;
other commercial information that the client has provided to Revolut when opening the account; And
the client's activities, plans, debt obligations or transactions with other people.
The above information would be disclosed in case it is necessary for the execution of financial accounting, control, risk assessment or when common information systems or technical equipment (servers) are used or when it is necessary for the provision of services.
All this is called by Revolut "customer secret" and must be protected as required by current legislation.
By accepting the agreement the customer understands and confirms that, in the event that he has not changed his preferences in the Revolut app, if he is present in the contact list of other Revolut users, those users will be aware of the fact that the customer is a customer of Revolut.
The customer can change his preferences at any time.
32.
Revolut Intellectual Property
All intellectual property in Revolut's products (for example, the app and website content, the Revolut logo and the card design) is owned by the parent company, Revolut Ltd (a company incorporated in England and Wales with company registration number 08804411, whose registered office is at 7 Westferry Circus, Canary Wharf, London, E14 4HD, UK) and is used by Revolut and other Revolut group companies.
The customer must not use this intellectual property as if it were his own, except to use the products of Revolut.
It is also forbidden to reverse-engineer Revolut's products (i.e. reproduce them after a detailed examination of their construction or composition).
33.
Legal provisions
Customer Agreement with Revolut
The contract gives rights exclusively to the customer and to Revolut.
The contract is personal and the customer cannot transfer the resulting rights and obligations to others.
Revolut's right of transfer and assignment
The customer authorizes Revolut to transfer or assign to third parties all of its rights and obligations under these terms and conditions.
Revolut will only transfer its own and client's rights and obligations under the contract if this will not have a material adverse effect on the client's rights under these terms and conditions or if it needs to do so to comply with a legislative or regulatory obligation.
Revolut's transfer of rights and obligations is called "novation".
The transfer by Revolut of rights only is called an "assignment".
The customer may terminate the e-money account after notification of the assignment.
Lithuanian law applies
The laws of the Republic of Lithuania apply to these terms and conditions and to the agreement.
Despite this, the customer can still rely on the mandatory consumer protection regulations of the country of the European Economic Area in which he lives.
The English version of the contract is authentic
In the event that these terms and conditions are translated into another language, the translation is for consultation purposes only and the English version will prevail.
By entering into this agreement and accepting the services of Revolut, you confirm that you understand the English language and agree to communicate with Revolut in the English language regarding the legal relationships arising from this agreement, including regarding the submission and termination of any complaints.
Revolut's right to enforce the contract
In the event that the customer has violated the existing contract with Revolut and the latter refrains from enforcing its rights, or delays in enforcing them, this will not prevent Revolut from enforcing those rights, or any other right, in a moment later.
Client initiation of legal action against Revolut
Legal actions under these terms and conditions can only be brought in the courts of the Republic of Lithuania (or in the courts of any member state of the European Economic Area where the client resides).
Revolut Payments UAB Personal Terms Supplement
1.
Subject of this supplement
This is a supplement (the Supplement) to the Personal Terms that the client has accepted with Revolut, regarding the personal e-currency account with Revolut (the client's e-currency account).
This Supplement applies if you subscribe to a Revolut Bank UAB (Revolut Bank) sight deposit account.
It determines how money is sent between the e-money account and the sight deposit account with Revolut Bank.
The sight deposit account with Revolut Bank is settled separately from the terms of the Revolut Bank sight deposit.
The fact that it is a "supplement" means that it adds to the Personal Terms that the customer has agreed with Revolut, but does not change them.
This Supplement begins to apply once accepted by the customer.
Revolut cannot provide the services described in this Supplement if the customer does not accept it.
Revolut Payments UAB is a company incorporated and registered in the Republic of Lithuania with company registration number 304940980 and whose registered office and head office is located in Konstitucijos pr.
21B, 08130 Vilnius, Republic of Lithuania (Revolut Payments).
Revolut is authorized to issue electronic money and perform payment services by the Bank of Lithuania.
The Bank of Lithuania is the central bank and financial supervisor of the Republic of Lithuania whose address is Gedimino pr.
6, 01103 Vilnius, Republic of Lithuania, website www.lb.lt, telephone number +370 800 50 500.
If the customer is in possession of a credit card, this Supplement does not apply and does not affect any sub-account activity of the electronic currency account with Revolut to which a credit card issued under the Credit Card Terms is linked. (if present).
In accordance with the Credit Card Terms, the balance of that sub-account of the electronic currency account with Revolut is separate from the balance of the sight deposit account.
2.
Incoming and outgoing money movements and adding money
This section explains how the client's money will be automatically transferred between his sight deposit account at Revolut Bank and his e-money account whenever a payment is made or received into his e-money account (other than the deposit account. on sight at Revolut Bank).
What happens to the existing money?
When the client accepts this Supplement and signs up with Revolut Bank, Revolut transfers the existing balance of his e-money account with Revolut Payments to his sight deposit account with Revolut Bank.
This means that by accepting this Supplement, the client instructs Revolut to transfer the existing balance of his e-money account to his sight deposit account with Revolut Bank, as described in this Supplement.
What happens if I miss a payment?
Whenever the client, or someone else, sends money to the client's e-money account, Revolut transfers it to his sight deposit account with Revolut Bank.
This also happens whenever the customer adds money (as described in section 12 of the Personal Terms).
Revolut will make these transfers as soon as possible.
This means that the money will be held in the customer's e-money account only temporarily.
By accepting this Supplement, the client instructs Revolut to set up payments from his e-money account to his sight deposit account with Revolut Bank, as described in this Supplement.
Money sent to the client's sight deposit account with Revolut Bank will be held by Revolut Bank under the terms of the sight deposit that the client has agreed with Revolut Bank.
Money will not be held by Revolut (except when it temporarily passes into the customer's e-money account).
What happens if I send money or make a payment?
Whenever the customer sends money through the Revolut app (for example, sends it to a third party bank account), they pay a fee for a Revolut service (such as a monthly fee for Metal or an insurance premium) or make any kind of payment using Revolut (such as a direct debit, payment link or whatever) instructs Revolut to immediately send a debit request to Revolut Bank by requesting funds from the sight deposit account equal to the amount of money necessary to make the payment.
Once the requested amount is sent from the sight deposit account to the customer's e-money account, Revolut will immediately issue e-money and pay the recipient immediately in accordance with the Personal Terms.
Whenever the customer makes a payment with his Revolut card, he instructs Revolut to immediately send a debit request to Revolut Bank by requesting funds from his sight deposit account equal to the amount necessary to make the payment.
Once the requested amount is sent from the sight deposit account to the client's e-money account, the client will immediately issue e-money.
This money, however, will remain in the customer's e-money account for a short period of time until it is paid to the card system.
Since the customer will have already spent the money, it will not be available to be spent again.
As you can see, when the customer sends or spends their money, the money stays in their e-money account for a very limited period of time, from when they leave the sight deposit account at Revolut Bank until it is paid. .
What happens if i add money?
The customer can still add money as described in section 12 of the Personal Terms.
Whenever it does, Revolut will treat the money like any other money sent to the customer's account, as described in the section "What happens if I get paid?"
up.
The customer can still use the automatic add function described in section 12 of the Personal Terms.
Whenever the "remembered" balance of the sight deposit account at Revolut Bank falls below the amount set by the customer, the automatic add function adds money to the account (the meaning of "remembered" account is described in section 3 down).
What happens if i do a currency conversion?
If the client asks Revolut to make a currency conversion using the Revolut app, he instructs Revolut to immediately send a debit request to Revolut Bank by requesting funds from his sight deposit account equal to the amount needed to make the conversion.
Once the requested amount is sent from the sight deposit account to the customer's e-money account, Revolut will immediately issue e-money and convert to the e-money account, then send the converted amount to the sight deposit account of the client at Revolut Bank.
By accepting this Supplement, the client instructs Revolut to send the converted amount to their sight deposit account with Revolut Bank, as described in this Supplement.
If the customer makes a payment that triggers a currency conversion, under the Personal Terms (for example, purchases something in a store in GBP using the Revolut card, but has only EUR currency on the sight deposit account), Revolut will perform the currency conversion when the money arrives in the e-money account from the customer's sight deposit account and before making the payment to the store.
3.
What do the customer's account balance and transaction history show?
Revolut tracks all money sent between the sight deposit account with Revolut Bank and the e-money account.
Using this information, we "remember" the balance of the customer's Revolut Bank sight deposit account.
The balance shown to the customer in the Revolut app is the total "remembered" balance of the sight deposit account at Revolut Bank and any available balance in the customer's e-money account.
This balance is used because the two amounts together represent the total amount the customer has available to spend.
This is also the balance that Revolut reports via the open banking API when the customer uses a third party provider to access the account.
To ensure that the information shown by Revolut is correct, the client accepts the right of Revolut to receive information about his sight deposit account (including information about any locks or restrictions on the sight deposit account and the reasons for it).
The customer also agrees that Revolut may send the same information to Revolut Bank on their e-money account.
The transaction history shown in the Revolut app will include all payments made and received by the customer.
However, in order not to complicate matters, Revolut will not show the automatic transactions between the sight deposit account and the customer's e-money account described in section 2 on the transaction history screen.
Instead, this information is shown on the transaction statement.
For example, if the customer spends € 5 with their Revolut card in a store, they will see the purchase made in the store in the transaction history screen, but will not see the automatic transaction from their sight deposit account to their currency account. electronics.
The customer may request an automatic transaction statement, but by signing this Supplement, you agree that these transactions will not be provided through the transaction history screen in the Revolut app or through push notifications.
4.
When could this Supplement end?
What happens if I don't have a sight deposit account with Revolut Bank?
This supplement is an agreement on how money is moved between the sight deposit account at Revolut Bank and the e-money account with Revolut Payments.
If the customer does not have a sight deposit account, Revolut cannot provide these services.
For this reason, if the customer's sight deposit account is closed, this Supplement also ends.
The rest of the Personal Terms will continue to apply and Revolut will provide its services under those terms.
What happens if I wish to terminate this Supplement?
If the customer wishes to terminate this Supplement, but wishes to keep their e-money account, they can notify Revolut via the Revolut app.
10 working days' notice is required to terminate the Supplement.
Once terminated, the Personal Terms will continue to apply and Revolut will provide its services under those terms.