Is Revolut FSCS protected? Where your money is actually held

Revolut's UK savings account, Instant Access Savings, is not held by Revolut's own bank: it is a deposit account with ClearBank Limited, provided by Revolut Ltd, and is FSCS-protected up to £120,000 per person in total at ClearBank, including money held at ClearBank through other apps. Revolut Bank UK Ltd, licensed in March 2026, holds current accounts and Pockets once customers are moved to it, with its own separate £120,000 limit; accounts not yet moved are e-money at Revolut Ltd, safeguarded but not FSCS-protected.

Revolut is an FCA-authorised e-money institution that introduces savings held by ClearBank, part of a group that also owns a UK bank, Revolut Bank UK Ltd: customers contract with Revolut Ltd (savings, and e-money accounts not yet moved to the bank); Revolut Bank UK Ltd (current accounts and Pockets after transfer) (FCA firm reference 900562). Every statement below is taken from the source named beneath it, last checked 24 October 2026. It is information, not advice.

Who holds the money, product by product

Who Revolut is

Revolut Bank UK Ltd (company 12871051, 30 South Colonnade, London E14 5HX) is authorised by the PRA and regulated by the FCA and PRA (firm reference 981170). Revolut Ltd (company 08804411) is an FCA-authorised e-money institution (firm reference 900562); investments are provided by Revolut Trading Ltd (firm reference 933846).

The PRA lifted the restrictions on Revolut's banking licence and gave approval to launch Revolut Bank UK Ltd after a mobilisation period; current accounts were to roll out to new customers first, with existing customers migrated over a few months.

Revolut states that "balances in your Savings will continue to be provided by Revolut Ltd and not Revolut Bank UK Ltd" and "will be deposited with third-party partner banks".

How each product is protected

Instant Access Savings: Revolut's terms state that if ClearBank were to fail, the FSCS would pay back any eligible deposits made with ClearBank (through Instant Access Savings or otherwise) up to £120,000. ClearBank Limited is a PRA-authorised bank, firm reference 754568.

Revolut Bank UK Ltd: total eligible deposits across the current account, Kids & Teens, 16-17, Pockets, Group Pockets, joint and Pro accounts are covered up to £120,000 in total per person; for joint accounts the limit applies to each holder. Stocks, crypto and commodities through Revolut are not FSCS-protected deposits.

Money moved from Savings back to a Revolut account that is still an e-money account stops being a deposit: Revolut's Savings Vaults terms state that "whenever money is moved from your Savings Vault back to your normal Revolut account, it stops being protected by the FSCS, but is safeguarded instead."

If Revolut or a partner bank fails

If Revolut Bank UK Ltd fails, Revolut says the FSCS "aims to pay compensation within 7 days of a bank or building society failing", up to £120,000 per person per bank.

If ClearBank fails, the FSCS covers eligible deposits made with ClearBank "(through Instant Access Savings or otherwise) up to £120,000". Revolut's terms exclude its liability for losses "if ClearBank defaults on paying back the money in your Instant Access Savings or any interest on it".

What happens to Instant Access Savings if Revolut Ltd itself fails is not set out in the terms found; ClearBank's terms make the account a contract between the customer and ClearBank ("a bank account provided by ClearBank"), and allow ClearBank to close the account immediately if "the Revolut Terms are terminated".

Does it share your FSCS limit?

Yes, for savings. ClearBank's terms state that the £120,000 limit "is for all funds held by you at ClearBank. If you have other accounts held at ClearBank (including through one or more of ClearBank's other intermediaries), the balances of these accounts may be amalgamated", with anything above the limit unlikely to be protected.

No, between Revolut's savings and its bank: savings protection "is separate from the £120,000 FSCS coverage for Revolut Bank UK Ltd, meaning you could be covered for both, depending on your individual balances and the partner bank used."

Size

Revolut Bank UK Ltd launched "with an existing base of 13 million UK customers".

Instant Access Savings accepts up to £5,000,000 per customer across all personal Instant Access Savings accounts. No published figure for UK savings balances held at ClearBank through Revolut was found.

Regulatory record since 2020

No FCA or PRA fine or final notice against Revolut Ltd or Revolut Bank UK Ltd since 2020 was found in searches of fca.org.uk and the web. Outside the UK, the Italian Competition Authority fined Revolut group entities, including Revolut Bank UAB and Revolut Securities Europe UAB, a total of €11.5 million on 2 April 2026 for unfair commercial practices; Revolut is appealing in the Italian courts.

The Bank of Lithuania's register lists a €3.5 million fine on Revolut Bank UAB enacted on 4 April 2025 for breaches of anti-money-laundering rules, after earlier fines of €200,000 (January 2024), €70,000 (November 2022) and €50,000 (March 2022). These concern Revolut's Lithuanian bank, not the UK entities.

The fine print

Revolut's savings review page says: "If ClearBank or Revolut were to fail, your money would be protected up to £120,000."

Revolut's Instant Access Savings terms describe FSCS cover only for the case "If ClearBank was to fail"; they contain no FSCS cover for a failure of Revolut Ltd.

The interest rate depends on the Revolut plan: from 20 May 2026, 2.90% AER on Standard and Plus, 3.25% on Premium, 3.40% on Metal and 4.00% on Ultra up to £200,000 (3.51% above), and Revolut may vary it with 14 days' notice of a cut, or with none when the customer changes plan.

Revolut's older Savings Vaults terms still quoted the pre-December 2025 FSCS limit of £85,000, and said Revolut or its trustee "may receive additional interest that is paid by the bank over the rate that is shown to you in the app".

Frequently asked questions

Is Revolut FSCS protected?

Revolut's UK savings account, Instant Access Savings, is not held by Revolut's own bank: it is a deposit account with ClearBank Limited, provided by Revolut Ltd, and is FSCS-protected up to £120,000 per person in total at ClearBank, including money held at ClearBank through other apps. Revolut Bank UK Ltd, licensed in March 2026, holds current accounts and Pockets once customers are moved to it, with its own separate £120,000 limit; accounts not yet moved are e-money at Revolut Ltd, safeguarded but not FSCS-protected.

Which bank holds my Revolut money?

Instant Access Savings (powered by ClearBank): ClearBank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Current account, Pockets, Group Pockets, joint, Kids & Teens, 16-17 and Pro accounts (after transfer to the bank): Revolut Bank UK Ltd (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Revolut accounts not yet transferred to the bank: Revolut Ltd (e-money) (e-money safeguarded by the firm, not FSCS deposit protection). Savings Vaults (older trustee model; no 2026 terms found): Partner banks chosen in the app, held by Flagstone Investment Management Limited as bare trustee (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence).

What happens if Revolut goes bust?

If Revolut Bank UK Ltd fails, Revolut says the FSCS "aims to pay compensation within 7 days of a bank or building society failing", up to £120,000 per person per bank.

Does Revolut share the FSCS limit with my other savings?

Yes, for savings. ClearBank's terms state that the £120,000 limit "is for all funds held by you at ClearBank. If you have other accounts held at ClearBank (including through one or more of ClearBank's other intermediaries), the balances of these accounts may be amalgamated", with anything above the limit unlikely to be protected.

More: other savings apps and platforms, how FSCS protection works and which banks share a banking licence.