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Revolut started as a travel card and has grown into a full banking app, used by millions of people in the UK for spending, saving, investing and crypto. Here’s how its money-making features work, what’s protected, and how to use it sensibly.
A quick note: the Revolut links in this post are my referral link. If you join through it, I may receive a reward from Revolut. This is general information, not financial advice.
Is Revolut a real bank now?
Yes. As of March 2026, Revolut Bank UK Ltd is fully licensed in the UK, authorised and regulated by the PRA and FCA like every other bank. For Revolut bank accounts, eligible deposits are FSCS-protected up to £120,000 per person.
One important detail: crypto, stocks and commodities continue through their own separate Revolut entities, and savings accounts are held with partner banks, each with its own FSCS cover. So what’s protected depends on which feature you use.
Earning interest: Revolut Savings
Revolut lets you put money into savings inside the app and earn interest, often with instant access. It’s useful for an emergency fund or short-term goals.
| Check | Why it matters |
|---|---|
| The rate on your plan | Higher-tier plans often get better rates, but cost a monthly fee |
| Instant access or fixed | Instant access suits emergency money |
| Who holds the money | Savings may sit with a partner bank, with separate FSCS cover |
Rates are variable, so compare them with other easy-access accounts, especially for larger balances. Our guide to making idle cash work harder explains what to look for.
Investing in the app
Revolut also lets you invest in shares and funds. It’s convenient if you want everything in one app, but compare the fees and whether you can use a tax-free Stocks and Shares ISA wrapper, which matters a lot for long-term investing. See our guide to Stocks and Shares ISAs.
Buying crypto on Revolut
Revolut makes buying crypto straightforward: choose a coin in the app, enter an amount and confirm. That simplicity is exactly why it’s worth slowing down.
What to know first:
- It isn’t protected. Crypto isn’t covered by the FSCS and generally not by the Financial Ombudsman Service either.
- Prices swing hard. Bitcoin, the biggest coin, fell by roughly a third between its peak in October 2025 and late September 2026. Smaller coins often move far more.
- UK safeguards apply to first-time buyers. Firms must show clear risk warnings, check you understand the risks and give you a 24-hour cooling-off period before your first investment.
- Tax applies. Selling, swapping or spending crypto can create a Capital Gains Tax bill, so keep records.
If you do buy crypto, keep it to a small amount you could afford to lose entirely, and only after your emergency fund and long-term investing are in place. Our plain-English crypto guide covers the risks and the biggest coins.
Good to know: Never move crypto because someone contacts you with an “opportunity”, and never share your login codes. Scams involving crypto are common.
Everyday features worth using
- Spending abroad: Revolut is popular for travel thanks to its currency exchange features. Check the fair usage limits and weekend fees on your plan.
- Budgeting and analytics: see where your money goes by category, and set budgets.
- Savings Vaults and round-ups: round up card payments and save the spare change, similar to Monzo’s round-ups.
Getting started
- Open your Revolut account through my link. You’ll need photo ID.
- Start on the free plan. Only upgrade if the paid features clearly pay for themselves.
- Set up a savings space for a specific goal.
- Treat crypto as optional, and only with money you can afford to lose.
The short version
Revolut is now a fully licensed UK bank, and eligible deposits in Revolut bank accounts are FSCS-protected. Its savings can earn interest, and it offers investing and crypto in the same app. Crypto is easy to buy but isn’t protected and is highly volatile, so keep it small. Join Revolut through my link, start on the free plan, and compare savings rates before moving large sums.
Common questions
Is Revolut a proper bank in the UK?
Yes. Revolut Bank UK Ltd became fully licensed in March 2026, authorised by the PRA and regulated by the FCA and PRA. Eligible deposits in Revolut bank accounts are FSCS-protected up to £120,000. Some newer customers may be moved to the bank entity in stages, so check what the app shows for your account.
Is crypto on Revolut protected?
No. Crypto is provided through a separate Revolut entity and isn't covered by the FSCS. The value of crypto can fall sharply, and you could lose all the money you put in.
Are Revolut's savings the best rates?
Sometimes competitive, not always market-leading. Rates are variable and depend on your plan, so compare with other easy-access accounts before moving large sums.
How does the Revolut referral work?
If you join through a referral link and complete the steps Revolut sets, the person who invited you may receive a reward. Revolut sets and can change the terms.
This article is general information, not personal financial advice. Your situation is your own, so check the details for yourself or speak to a regulated adviser before making big decisions. Where investments are mentioned, their value can go down as well as up.
