Safety Concerns


Hi there,

As Revolut doesn’t have a banking license (as of yet), is depositing up to a couple of thousand euros into the account deemed as safe? What i mean by this is that if the company was to run into liquidation, is it safe to assume that my funds would be lost?

I’m relocating to Barcelona and won’t have a Spanish bank account (whilst i deal with other Spanish bureaucracy) for sometime, so i’ll be relying on my Revolut account for a while.

Hopefully someone out there can bring me some peace of mind.



Because :r: isn’t a bank but an Electronic Money institution there is no protection.

BUT Revolut applied for an UE Banking licence several months ago :


What @mirron misses here is that, other than with banks, all funds from customers are segregated from Revolut’s assets. Funds are held in your name in ring-fenced accounts at Barclays / Lloyds. In case of insolvency, these funds can’t be used to pay other creditors. So depending on how you look at it, some might say your funds are even saver, because Revolut does not have access to them.

It is correct that the funds aren’t protected in case the bank, Barclays or Lloyds, go bankrupt.


but can we really claim them back if Revolut goes bankrupt?


Why not, they are your’s. It’s going to be a hassle, sure. But let’s assume that Revolut follows regulations here and the FCA has an eye on it, no?


Who would have priority in accessing ring-fenced funds? Investors or individual account holders?

Also, what would the situation be for those who purchased cryptocurrencies with Revolut?


And that is a valid question too.

My understanding is there is no such question in the first place. Only account holders have access, hence no priority.


The money is stored there in your name. It’s not accessible for investors.

Cryptocurrencies are not covered at all. That part of the service is not under the oversight of the FCA regulation.


Thanks for that.

From Coinbase:

“Coinbase prioritizes the security of our customer’s funds, all digital currency that Coinbase holds online is insured. If Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result.”

Does anyone know if Revolut has an insurance policy in place to cover cryptocurrency losses in case of insolvency?