Update Ts and Cs for limits on crypto use


#1

The Ts and Cs of Revolut (the only legally binding contract) have one condition and one term that are, apparently, misleading about cryptocurrency exchange. Both these clauses should be be corrected.
There is a general condition that the Revolut account may not be used for currency speculation - Revolut Support tells me that this is not intended to apply to cryptocurrencies.
There is a term that currency exchanges beyond an allowance of £5000 per month attract an exchange fee. Support tell me that there is a different limit (with a different structure) for cryptocurrency exchange.


#2

There are additional Cryptocurrency Terms, which you agree to when activating the feature.

Though it has no hard numbers for transaction limits either… :woman_shrugging:


#3

Yes, those are included in the Ts and Cs available online. As you say, no hard numbers, and also I find it ambiguous whether crypto exchanges count towards the £5000 per month FX allowance, and I have not yet found a clear definition of the term FX (as to whether it includes or does not include crypto exchange).


#4

Hi @BlackPrince

Thank you for your feedback. Let me clarify that the answer is s.1.7 - in the case of inconsistency between General T&Cs and Crypto T&Cs the Crypto T&Cs prevail.

Accordingly, there’s no limit to Crypto, like there is with fiat exchanges (£5000 per month), we just charge one fee - 1.5%. You can find this information at section 8 of the Ts&Cs.