Europe Savings Vault

The product currently being rolled out in parts (?) of Europe is not a Savings Vault. It’s not accessible via the Vaults section of the app. It’s a separate new section called „Savings“ on the hub page.


Are you able to say which banks you’re partnering with in the UK?
I personally don’t want my money going to some banks… they’d need to get a :+1: from for me to be happy.

:bulb: It would be great if we could select a ‘green’ option so we knew our money wasn’t funding fossil fuels :fire:

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You can’t choose, but you can see the provider used on your savings statement. Revolut seems to move funds between providers alot. My savings (same vault, no intervention from my side) have been switched several times between Allica and Paragon. I don’t know if Revolut uses any other providers in the UK.


Hey @SG.Mandal, any official reply to this?
It would be useful to see the list of banks Revolut uses

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Next raise today: Monetary policy decisions

:r: = Zero
(only raising fees)

Will use :r: only for payments when I can save some money or receive cash back. For other payments I’ll use my local bank account.


To add to my previous post - from 1st October in France the LEP account will increase the level to which you can add funds to 10k€ per person and the tax free interest rate to 6% (provided your tax “plafond” - the couple’s reference tax income) is below 32,818€ and increases to 55,677€ for a family with 3 children. The amount held can increase above the level to which you can add funds without penalty by the addition of interest earned which is added to the account on 1st January each year calculated on the balance on the 1st and 16th day of each month throughout the year.
Now - that’s a good savings vehicle - but only available to French residents.
I somehow think that :r: will be unable to match that!

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Hi, it looks like Saving Vaults are starting to roll out in France, but the information available in the app is quite thin, only a vague interest rate that isn’t guaranteed and can go down (I’m fearing that the 3,47% advertised is a lure). Links towards detailed informations or conditions aren’t working. Internet doesn’t have any answer either.

What is the situation please ?

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This thread might help you understand the offering. (“Savings” is not identical to “Savings Vault”)

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Still nothing. :man_facepalming: :-1: :sob:
Does :r: (the bank) actually receive interest for OUR money (e.g. from the ECB)?

If a bank does currently not acquire interest on customer deposits, I would question its fundamental qualification to be a bank.

(Banks aren’t required to deposit money with the ECB. The required minimum reserve is with the national central bank.)


:r:: 0.0%
(And still no credit cards here.)

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I’m really not sure what point you are trying to make here.
My jurisdiction is France (FR IBAN) with a GBP wallet. If I want interest on savings, as I have indicated before, I will use the appropriate vehicle in France which will give me access to my funds in a timely manner, tax free interest and backed by the State so I know my funds are safe.
I use a mix of three such vehicles here.
My :r: account is used principally for currency transfer and day to day purchases in Euro and that suits me just fine.

I want to store some money in my :r: account and for it I want to receive interest (like with other banks!), period! I know I can store my money elsewhere. I can also do trading and currency exchange elsewhere…

You are aware that Revolut’s offer is not a saving account with interest but an investment into a money market fund? It’s most likely not what you would get with other banks.

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Yeah, but why third-party is needed? Sorry, but :r: is becoming more and more useless. Only raising fees… well, my metal subscription ends soon. Sad but true.

I don’t understand product target between vault and saving, looks Like it’s cannibalising both products, you are trying to moving cash from vault to saving, but we lose all the benefit of automation in vault !!!
we should have saving vault for EU like we have in UK, easy access accounts and protected, with all automation, then a saving product, with multiple choice, (green bonds, high yield, etc)

I don’t understand. Revolut itself provides trading via its European trading entity. The money market fund is (obviously) managed by a third party, Fidelity in this case. Revolut is not a funds manager. Revolut does not involve more or less parties than other providers with similar offerings.

The most obvious reason why Revolut doesn’t offer traditional savings accounts is probably the lack of (notable) lending. Show me a high yield savings account provider with no lending business.

Third parties account providers (UK) or money market funds (Europe) are Revolut’s option to offer high yield and low risk saving options.

I don’t think there’s overlap. Savings Vaults are not available in areas where Flexible Accounts are available (Flexible Accounts is the term Revolut uses for money market fund investments). Nothing to cannibalize.

And if Flexible Accounts would become available in the UK as well, what’s the problem with offering both? I have no insight into Revolut’s plans, but I would also not be surprised if Revolut would phase out Savings Vaults at some point.