What is Revolut?
Revolut is a financial technology company that offers a mobile app with a variety of financial services, including:
International money transfers
Premium travel perks
Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko in London, United Kingdom. The company has since expanded to over 30 countries and has over 18 million customers.
Revolut is a popular choice for people who travel frequently or who need to make international payments. The company offers competitive exchange rates and low fees, making it a cost-effective way to manage your finances internationally.
Revolut also offers a variety of other features that make it a convenient and versatile financial tool. For example, you can use Revolut to make contactless payments, invest in stocks and cryptocurrencies, and save money in different currencies.
How to cancel Revolut UK?
Here are the steps on how to cancel your Revolut account:
Open the Revolut app and go to Settings.
Scroll down and tap Close account.
Enter your Revolut password and tap Continue.
Select a reason for closing your account and tap Continue.
Tap Close account to confirm.
Your account will be closed instantly and any remaining funds will be returned to your linked bank account within 5-10 business days.
Here are some things to keep in mind before closing your Revolut account:
Make sure that you have withdrawn all of your funds from your account.
Cancel any active subscriptions or insurance policies.
Close any open Vaults.
Downgrade your plan to the free Standard plan if you are on a paid plan.
If you have a metal card, you will need to pay a fee of 49 GBP (or equivalent currency) to cancel it.
Once your account has been closed, you will no longer be able to access it or use any of its features. Revolut will also delete your account information and transaction history.
Is there a fee to close Revolut account?
There is no fee to close a Revolut account if you have a Standard plan. However, if you have a paid plan, you will need to downgrade to the free Standard plan before closing your account. If you have a metal card, you will also need to pay a fee of 49 GBP (or equivalent currency) to cancel it.
Please note that Revolut may charge you other fees if you have any outstanding charges or debts on your account. You should also be aware that Revolut may keep your account information and transaction history for up to 6 years after you close your account.
Can I close my Revolut account online?
Yes, you can close your Revolut account online. Here are the steps on how to do it:
Open the Revolut app and go to your Profile.
Tap on Account.
Scroll down and tap on Close account.
Select a reason for closing your account.
Tap on Close account again.
Revolut will ask you to confirm your decision. Tap on Close account one last time to proceed.
Your account will be closed instantly.
Please note that you need to meet the following requirements before you can close your Revolut account online:
Your account must be on a Free plan. If you're on a paid plan, change your subscription in the Billing page.
You must have cleared all your funds from your account.
There must be no pending transactions.
You must have closed your trading account, if you have one.
You must have no active insurance.
You must have no open chargeback requests.
If you don't meet all of these requirements, you will need to contact Revolut customer support to close your account.
Once your account is closed, Revolut will keep your data for 6 years to comply with regulatory and anti-money laundering laws. After 6 years, your data will be deleted.
What happens if I close my Revolut account?
Here are some things that will happen if you close your Revolut account:
Your Revolut card will be cancelled.
You will no longer be able to use Revolut to make payments, send money, or withdraw cash.
Your Revolut account balance will be transferred to your nominated bank account.
Revolut will keep your data for 6 years to comply with regulatory and anti-money laundering laws. After 6 years, your data will be deleted.
If you have any open Revolut trades, these will be closed and the proceeds will be transferred to your Revolut account. If you have any active insurance policies, these will be cancelled and any premiums paid will not be refunded.
If you close your Revolut account and then decide that you want to reopen it, you may be able to do so. However, Revolut may require you to re-verify your identity and meet other requirements.
Here are some things to consider before closing your Revolut account:
If you have any Revolut features that you use regularly, such as the ability to exchange currency at low fees or the ability to withdraw cash from ATMs worldwide, you will lose access to these features if you close your account.
If you have any Revolut subscriptions, such as the Metal plan, you will need to cancel these subscriptions before you close your account.
If you have any open Revolut trades, you will need to close these trades before you close your account.
If you have any active Revolut insurance policies, you will need to cancel these policies before you close your account.
How do I cancel my Revolut card without the app?
You cannot cancel your Revolut card without the app. The app is the only way to access your Revolut account and manage your card.
If you do not have access to the app, you can contact Revolut customer support to cancel your card. Here are the steps on how to do it:
Go to the Revolut website and click on the Contact us button.
Select the Cards topic and then select Cancel my card.
Enter your Revolut card number and your email address.
Explain why you need to cancel your card.
Click on the Send button.
Revolut customer support will then contact you to confirm your request and to cancel your card.
Please note that you will still need to meet the requirements for closing your account, even if you cancel your card without the app. These requirements include clearing all your funds from your account, closing your trading account, and having no pending transactions.
Can you delete Revolut and start again?
No, you cannot delete Revolut and start again with the same phone number. Revolut uses your phone number to verify your identity, so if you delete your account and try to create a new one with the same phone number, Revolut will know that it is you and will not allow you to create a new account.
If you want to start using Revolut again, you will need to create a new account with a different phone number. You can do this by downloading the Revolut app and following the instructions to create a new account.
Please note that you will not be able to transfer your Revolut account balance or your Revolut card to your new account. You will need to start from scratch.
Here are some things to consider before creating a new Revolut account:
You will need to provide the same information as you did when you created your first account, such as your name, address, and date of birth.
You will need to verify your identity again.
You may not be able to use the same Revolut card number or the same PIN.
Can I remove money from Revolut?
Yes, you can remove money from Revolut. There are a few different ways to do this:
Withdraw cash from an ATM: You can withdraw cash from any ATM in the world that supports Visa or Mastercard. Revolut does not charge any fees for ATM withdrawals in your home currency. However, you may be charged a fee by the ATM operator.
Transfer money to a bank account: You can transfer money to your bank account using a bank transfer. Revolut does not charge any fees for bank transfers within the European Economic Area (EEA). However, you may be charged a fee by your bank.
Send money to another Revolut user: You can send money to another Revolut user for free.
Spend money with your Revolut card: You can spend money with your Revolut card anywhere that accepts Visa or Mastercard. Revolut does not charge any fees for card payments. However, you may be charged a fee by the merchant.
To remove money from Revolut, you will need to open the Revolut app and go to the Wallet tab. Then, select the currency that you want to withdraw and tap on the Withdraw button. Follow the instructions to complete the withdrawal.
Please note that there may be limits on how much money you can withdraw from Revolut in a single day or week. These limits will depend on your Revolut plan.
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