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Revolut has spent years operating in a regulatory grey area, giving millions of British customers a glimpse of what modern banking could look like without ever being a proper bank. That changed in March 2026, when Revolut received a full UK banking licence through Revolut Bank UK Ltd, bringing with it FSCS protection of up to £85,000 per eligible depositor. It is a significant milestone for the company and, more importantly, for the roughly 10 million UK customers who now have genuine deposit protection for the first time.
This review covers everything you need to know about Revolut in 2026: its plans and pricing, standout features, safety credentials, and how it stacks up against Monzo, Starling, Chase UK, and Wise. Whether you are looking for a primary current account, a travel card, or a fee-free way to send money abroad, this guide will help you decide if Revolut is the right fit.
Our verdict
Revolut Review: 4.0 out of 5 stars
Revolut is one of the most feature-rich current accounts available in the UK, and the March 2026 banking licence has removed the single biggest objection most cautious savers had. The free Standard plan is genuinely excellent for everyday use and international spending, while the paid tiers offer compelling travel perks for frequent flyers. The main caveats are the in-app-only customer support on Standard, the weekend FX surcharge, and the absence of joint accounts. For most people who live on their phones and travel regularly, Revolut earns a strong recommendation.
| Category | Score |
|---|---|
| Features | 5/5 |
| Value for money | 4/5 |
| Safety and regulation | 4/5 |
| Customer support | 3/5 |
| Ease of use | 5/5 |
| Overall | 4.0/5 |
Revolut plans and pricing
Revolut offers five plans in the UK, ranging from a completely free account to a premium tier aimed at high earners who want concierge-level perks. Here is a breakdown of what each plan costs and what it includes.
Standard (free)
The Standard plan costs nothing per month and includes a Visa or Mastercard debit card, fee-free currency exchange up to £1,000 per month on weekdays, ATM withdrawals up to £200 per month at no charge, access to Savings Vaults, budgeting tools, instant bank transfers, and Apple Pay and Google Pay support. For the majority of UK users, this plan will cover most everyday needs without spending a penny.
Plus (£2.99 per month)
Plus adds priority in-app customer support, higher interest rates on Savings Vaults, overseas medical insurance for trips up to 30 days, and event ticket purchase protection. It is a modest step up for occasional travellers who want a safety net.
Premium (£6.99 per month)
Premium raises the fee-free ATM limit and FX allowance, adds travel insurance covering winter sports, delayed baggage cover, and price-drop alerts for flights. Customers also get access to Revolut’s disposable virtual cards and a dedicated 24/7 in-app support queue. This tier suits people who travel three or more times a year and want meaningful insurance bundled in.
Metal (£14.99 per month)
Metal includes everything in Premium plus a stainless steel card, airport lounge access through a limited number of visits per year, higher cashback rates on card purchases when shopping through Revolut’s partner network, and concierge services. The monthly fee represents reasonable value for frequent business travellers, though it requires careful calculation against how often you actually use the perks.
Ultra (£45 per month)
Ultra is Revolut’s flagship tier. It includes unlimited lounge access, a custom Revolut Ultra card, higher savings rates, priority customer support with the fastest response times, and comprehensive global travel and lifestyle insurance. At £45 per month, it is firmly positioned for high-net-worth individuals and very frequent travellers who would otherwise pay separately for lounge membership and travel insurance.
Key features
Multi-currency account
Revolut supports over 150 currencies, which remains one of its most compelling selling points. You can hold balances in multiple currencies simultaneously and switch between them instantly in the app. When you spend abroad, the app automatically uses the appropriate currency balance or converts from your GBP balance at the mid-market rate (subject to your plan limits). This makes it far cheaper to use than a traditional high-street bank card abroad, where hidden FX markups of 2.75% or more are common.
Savings Vaults
Revolut’s Savings Vaults allow you to separate money from your main spending balance and earn interest on it. You can create multiple Vaults for different goals, such as a holiday fund, emergency savings, or a deposit pot. With the March 2026 banking licence, deposits in Revolut accounts and Vaults now benefit from FSCS protection, giving these savings pots the same regulatory standing as a high-street bank savings account.
Budgeting and analytics
The Revolut app provides detailed spending analytics broken down by category, merchant, and time period. You can set monthly budgets per category and receive notifications when you are approaching your limit. The interface is clean and genuinely useful for anyone trying to get a clearer picture of where their money goes. Compared to legacy bank apps, Revolut’s analytics are several generations ahead.
International transfers
Revolut allows instant transfers to other Revolut users and competitive-rate international transfers via SWIFT and local payment rails. Transfer fees and rates vary by destination and plan, but for many corridors Revolut is meaningfully cheaper than traditional bank wire transfers. Transfers within the UK are handled via Faster Payments and arrive instantly.
Travel perks on paid plans
From Plus upwards, Revolut bundles travel insurance and related perks that would cost considerably more if purchased separately. Premium and above include comprehensive multi-trip travel insurance, which makes the monthly fee easier to justify for anyone who travels more than twice a year. Metal and Ultra add lounge access, which is particularly valuable if your travel hub is a major airport where single-visit lounge passes can cost £25 to £40.
FSCS protection and safety
The most important development in Revolut’s history came in March 2026: the company received a full UK banking licence through Revolut Bank UK Ltd. This means deposits held with Revolut are now protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per eligible depositor, the same limit that applies to Barclays, HSBC, or any other UK-regulated bank.
Before the banking licence, Revolut operated under an electronic money institution (EMI) licence. Under that regime, customer funds were safeguarded (held in ring-fenced accounts at approved banks) but were not covered by FSCS. The difference matters: FSCS compensation is a government-backed guarantee, whereas safeguarding is a contractual protection that depends on Revolut’s internal processes being followed correctly. The March 2026 licence removes that distinction entirely.
Revolut is also regulated by the Financial Conduct Authority (FCA). The app uses biometric authentication, 3D Secure for online payments, and instant card freezing if your card is lost or stolen. You can also set spending controls and limits directly in the app.
ATM withdrawals and foreign currency spending
Understanding the limits on the Standard plan is important before you rely on Revolut as your primary travel card.
ATM withdrawals
On the Standard plan, you can withdraw up to £200 per month from ATMs worldwide at no charge. Once you exceed that limit, a 2% fee applies to each additional withdrawal. For most short trips, £200 is sufficient. For longer stays or destinations where cash is essential, consider upgrading to a paid plan with a higher limit, or use Revolut alongside a Starling or Monzo card, which also offer fee-free ATM access.
Foreign currency spending
On weekdays, Standard plan holders can spend in foreign currencies up to £1,000 per month at the mid-market exchange rate with no fee. Above that limit, a 1% fee applies. At weekends, a 0.5% surcharge is added to all foreign currency transactions on Standard (this is in addition to any excess fee if you have already exceeded your monthly allowance). The weekend surcharge is a commonly overlooked cost, so if you do most of your holiday spending at weekends, factor this in.
Paid plans remove or raise these limits significantly, and Metal and Ultra customers face no FX fees at all on most transactions.
Customer support
Customer support is the area where Revolut receives the most criticism, and the criticism is largely fair. On the Standard plan, support is handled entirely through the in-app chat. There is no phone number to call if something goes wrong with your account, and response times can vary. The chat is AI-assisted for common queries, which means straightforward issues are often resolved quickly, but complex problems can require multiple interactions and escalations before reaching a human agent.
Paid plan customers receive priority support with faster response times, and Ultra subscribers get access to the quickest response queues. If you anticipate needing frequent support, or if you simply prefer the reassurance of being able to speak to someone on the phone, Revolut’s support model may frustrate you. First direct, by contrast, has built its reputation almost entirely on accessible, phone-first customer service.
To be fair, Revolut has improved its support significantly over the past two years, and the majority of routine queries are now resolved quickly within the app. The absence of a phone line on Standard is a conscious product decision rather than a resource constraint, and many users will never find it a problem.
Revolut vs competitors
Revolut operates in a crowded market of app-based and challenger banks. Here is how it compares to its closest UK rivals.
| Feature | Revolut | Monzo | Starling | Chase UK | Wise |
|---|---|---|---|---|---|
| Monthly fee (entry) | £0 | £0 | £0 | £0 | £0 (no subscription) |
| UK banking licence | Yes (March 2026) | Yes | Yes | Yes | No (EMI) |
| FSCS protection | Yes, £85,000 | Yes, £85,000 | Yes, £85,000 | Yes, £85,000 | No (safeguarded) |
| Free ATM withdrawals | £200/month | £250/month | Unlimited in UK | Unlimited in UK | 2 free/month up to £200 |
| FX fees (weekday) | Free up to £1,000/month | Free up to £200/month abroad | No FX fees | No FX fees abroad | Low conversion fee (varies) |
| Weekend FX surcharge | 0.5% on Standard | None | None | None | None |
| Cashback | No (Standard) | No (Standard) | No | 1% on purchases | No |
| Interest on balance | Via Savings Vaults | Via pots (3.5% AER) | Yes (on main balance) | Yes (on main balance) | No |
| Joint accounts | No | Yes | Yes | No | No |
| Cash deposits | No | Yes (Post Office) | Yes (Post Office) | No | No |
| Multi-currency account | Yes, 150+ currencies | No | No | No | Yes, 40+ currencies |
| Phone support | No (Standard) | No (Standard) | Yes (24/7) | Yes (24/7) | No |
Revolut vs Monzo: Both are free, both now hold UK banking licences, and both offer strong app experiences. Monzo edges ahead on ATM limits (£250 vs £200 free per month) and has no weekend FX surcharge, while Revolut wins decisively on multi-currency functionality and international transfer rates. If you rarely travel outside Europe, Monzo may be the simpler choice. If you are a frequent traveller who wants to hold multiple currencies, Revolut is the stronger option.
Revolut vs Starling: Starling charges no FX fees at all and pays interest on your current account balance, which Revolut does not. Starling also offers phone support around the clock and accepts cash deposits at Post Offices. However, Starling has no multi-currency account and far fewer plan tiers. Starling suits people who want a straightforward, transparent bank with excellent service; Revolut suits those who want more features and are comfortable with an app-only support model.
Revolut vs Chase UK: Chase UK is backed by JP Morgan and offers 1% cashback on everyday spending, which is genuinely useful. Its FX offering is strong, with no fees on overseas card spending. However, Chase has no savings vaults or multi-currency pots, and its product range is narrower than Revolut’s. For cashback-focused customers, Chase is hard to beat. For travellers and internationally minded users, Revolut offers more depth.
Revolut vs Wise: Wise is the best choice if international transfers are your primary concern. Its conversion fees are transparent and often lower than Revolut’s on larger sums, and it supports over 40 currencies natively. However, Wise is not a bank, carries no FSCS protection, and lacks the current account features that make Revolut useful for day-to-day banking. Use Wise if you regularly send large sums internationally; use Revolut if you want a full current account with travel capabilities.
Who should choose Revolut?
Revolut is a strong choice if you:
- Travel regularly and want fee-free foreign currency spending up to £1,000 per month
- Send money internationally and want competitive exchange rates
- Want to hold savings in multiple currencies simultaneously
- Are comfortable managing everything through a smartphone app
- Want a free account with genuinely useful features without any monthly fee
- Are considering a paid plan with bundled travel insurance and lounge access
Revolut may not be right for you if:
- You want phone-based customer support available at any time (consider Starling or first direct)
- You need a joint account (Monzo or Starling are better options)
- You regularly deposit cash (Monzo and Starling both work with the Post Office)
- You prioritise cashback on everyday spending (Chase UK offers 1%)
- You want interest paid directly on your current account balance (Starling does this automatically)
Final verdict
Revolut in 2026 is a fundamentally different proposition from the app it was even two years ago. The full UK banking licence, granted in March 2026, removes the most significant objection that careful savers had, and FSCS protection up to £85,000 means your money is now covered by the same government guarantee as any high-street bank.
The Standard plan remains one of the best free current accounts available in the UK. It gives you a feature set that most traditional banks charge for, with the added benefit of multi-currency support, budgeting tools, and competitive international transfer rates. The paid plans scale sensibly for travellers who want insurance and lounge access bundled in.
The honest limitations are the weekend FX surcharge on Standard, the in-app-only support model, the absence of joint accounts, and no cash deposit facility. These are real trade-offs, and the right account depends on how you actually use banking. For a digitally comfortable, internationally mobile customer, Revolut is excellent. For someone who wants branch access, phone support, or a joint account, a competitor will serve them better.
Our rating: 4.0 out of 5 stars. Revolut is now a fully regulated, feature-rich UK bank that is hard to beat on value for frequent travellers and internationally minded customers. The 2026 banking licence makes it a credible primary account for the first time, and the free Standard plan alone justifies downloading the app.
Frequently asked questions
Is Revolut a proper bank in the UK?
Yes, as of March 2026. Revolut received a full UK banking licence through Revolut Bank UK Ltd, making it a regulated UK bank subject to FCA and PRA oversight, with FSCS deposit protection up to £85,000.
Is my money safe with Revolut?
Yes. Following the March 2026 banking licence, deposits held with Revolut in the UK are protected by the FSCS up to £85,000 per eligible depositor, the same limit as Barclays, NatWest, or Lloyds.
Can I use Revolut as my main bank account?
Yes. Revolut now offers a full UK sort code and account number, supports Faster Payments, Direct Debits, and standing orders, and carries FSCS protection. It is a viable primary current account, though the absence of phone support and cash deposit facilities may be drawbacks for some users.
Does Revolut charge fees for spending abroad?
On the Standard plan, foreign currency spending is free up to £1,000 per month on weekdays. Above that limit, a 1% fee applies. At weekends, a 0.5% surcharge is added to all foreign currency transactions. Paid plans offer higher or unlimited fee-free allowances.
Does Revolut offer joint accounts?
No. Revolut does not currently offer joint accounts in the UK. Monzo and Starling are both strong alternatives if a joint account is a requirement.