If you have not set up your External Account, you can hold a maximum of S$4,800 or foreign currency equivalent in your Revolut account at any given time. This limit will apply to top-ups and money received from other Revolut users.
You can withdraw up to $1,200 (see our Fees page) at no cost for out of network ATMs on all plans respectively every month. In network ATMs (Allpoint) are surcharge-free for an unlimited amount of withdrawals. ... The limit resets every rolling month (not calendar month) on the day, when your current price plan started.
According to Revolut, as an electronic money institution, it is: “required to safeguard money we receive from (or for) customers... Safeguarding means that we deposit the money we receive from you (or for you) into a client money bank account. The money in these client accounts is held by us on your behalf.
You can receive transfers from your employer, family, and friends directly into your Revolut account in AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, MXN, NOK, NZD, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TRY, USD, ZAR.
What Happens If Revolut Goes Bust? Revolut is not protected by Financial Services Compensation Scheme as it does not have a Uk banking license. However, if Revolut was to go bust, your funds can be claimed from your segregated account and will be prioritised over other creditors.
Users who have set up their External Account will be able to hold more money in their Revolut account and transact more easily. If you have set up your External Account, you can hold more than S$5,000 or foreign currency equivalent throughout the day.
Our automated security system is responsible for setting these limits, taking into consideration multiple factors, to ensure your account is secure. However, daily limits refresh every 24 hours and limits can be increased when you use the app and build your financial history with us.
You can send up to £1,000 each month without exchange fees. You'll see a 0.5% fee applied if exceeding this threshold, but you can upgrade to Revolut Premium or Revolut Metal to transfer unlimited funds globally, with no foreign exchange fees.
So, can you have two current accounts? The short answer, simply, is yes – you can have as many as you like. In fact, there are good reasons why you should be open to using more than one current account.
You can have up to 6 active physical cards and 5 active virtual cards linked to your Revolut account. A disposable virtual card doesn't count towards your allowance. You can use all these cards daily, or freeze any extra cards in-app as you need.
To transfer any of over 30 supported fiat currencies to a bank account, tap 'Payments' → 'Transfers' → 'Send' → '+ New' → 'Add a bank recipient'. You'll be asked to add the bank transfer details for either an Individual, or a Business if you're paying a company.
As a result, Revolut itself doesn't store your money, it uses Barclays and Lloyds for that. In early 2021 it also applied for a UK banking license and a bank charter in the US. Since it is not yet a bank, it does not offer any deposit protection.
Revolut said that it has recently seen an increase in the number of scammers posing as customer support agents, attempting to trick customers into providing control of their devices or computers, enter their Revolut accounts and steal their money by transferring it to other accounts.
PayPal doesn't provide mid-market rates, and their fees are high compared to other providers. Revolut exchange at mid-market rates and charge small fees. While Revolut promotes mid-market rates and free transfers, it has weekend markups and monthly limits.
You can receive transfers from your employer, family, and friends directly into your Revolut account in AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, MXN, NOK, NZD, PLN, QAR, RON, RSD, RUB, SAR, SEK, SGD, THB, TRY, USD, ZAR.