Paid Plan Terms

1. Why is this information important

This document sets out the terms and conditions that apply to your Revolut Plus, Premium, Metal or Ultra account (your Paid Plan). It includes important information you need to know about how to become a Paid Plan user, and the services we offer to you as part of your subscription and the costs involved.

These terms and conditions along with the Fees and Charges Section, the Airport Lounge Terms, the Revolut – Kids & Teens Terms, the Crypto Terms, the Precious Metals Terms, the Personal Terms, the RevPoints Terms, the Privacy Policy and any other terms and conditions that apply to our services are part of the legal agreement (the agreement) referred to in the Personal Terms between:

• you, the account holder; and
• us, Revolut Payments New Zealand Pty Ltd (NZBN 9429048733212).

If there is any inconsistency between the Personal Terms and these terms and conditions, these terms and conditions will apply.

You can access a copy of these terms and conditions through the Revolut app and on our website at any time.

Please read these terms and conditions carefully.

2. How to become a Paid Plan user

When you open a Revolut account, you are signed up to a Standard plan but you can upgrade to become a Paid Plan user through the Revolut app. We will never move you from a Standard plan to a Paid Plan without your consent. Paid Plan users have access to the services available to Standard plan users as well as additional benefits and preferential rates depending on the Paid Plan they choose. Please read the Personal Terms and the Fees and Charges Section for each of our plans for further details.

Paid Plans have a term of 12 months. Paid Plan users must pay a subscription fee for the duration of that term (unless they are making use of a trial offer where for some of that term, the Paid Plan subscription fee is waived). You can pay your Paid Plan subscription fee in monthly installments or by paying the full subscription fee once a year in advance. Please see the Fees and Charges Section for more information on what subscription fees apply to our Paid Plans.

Your subscription for the Paid Plan service will automatically renew on the date that is one month (for monthly subscriptions) or one year (for annual subscriptions) after you entered into your initial subscription (the initial renewal date) and on every monthly or yearly anniversary (as applicable) of the initial renewal date unless you give us notice to end it. This also applies where you have initially signed up to a Paid Plan via a trial offer.

Some of the benefits and preferential rates provided under our Paid Plans can’t be purchased separately. For instance, you can only access insurance through Revolut if you are on one of our Paid Plans, and the type of insurance cover you can access depends on the Paid Plan you subscribe to (please see the “Complimentary Insurance” section of these terms.

For benefits related to Revolut – Kids & Teens other than those related to Revolut – Kids & Teens Cards, please refer to the Revolut – Kids & Teens Terms.

3. The Plus Services

If you subscribe to Plus, you have access to the following Card allowances before incurring any fees (Plus Card Allowance):

In addition to each Plus Card Allowance listed above, you are entitled to an additional card at no cost every year after the 12 month initial subscription term for your Plus plan (including any replacements for lost or stolen cards). With a Plus subscription, you can also access virtual cards at no cost and are entitled to standard delivery at no cost for any cards ordered within the Plus Card Allowance.

Plus users also have access to the following benefits at no charge other than the subscription fee:

• up to NZ$6,000 exchange per monthly billing cycle (see the Personal Terms for further details on currency exchange);
• up to NZ$350 of ATM withdrawals per rolling month at no cost (inclusive of any withdrawals from any Joint Account);
• access to purchase lounge passes (for selected airport lounges) through our Airport Lounge Passes feature in the Revolut app;
• priority customer support through the Revolut app;
• the ability to earn RevPoints (RevPoints) on eligible everyday spend (see the RevPoints Terms for further details)); and
• everyday protection insurance.

4. The Premium Services

If you subscribe to Premium, you have access to the following Cards allowances before incurring any fees (Premium Card Allowance):

In addition to each Premium Card Allowance listed above, you are entitled to an additional card at no cost every year after the 12 month initial subscription term for your Premium plan (including any replacements for lost or stolen cards). With a Premium subscription, you can also access virtual cards at no cost and are entitled to express delivery at no cost for any cards you ordered within the Premium Card Allowance.

Premium users also have access to all the services available to Plus users, as well as the following benefits at no charge other than the subscription fee:

• travel insurance;
• discounted lounge access;
• lower crypto fees;
• lower commodities fees;
• access to included subscriptions and other benefits with our plan partners;
• international transfer fee discounts;
• the ability to earn RevPoints on eligible everyday spend at a higher earn rate than Standard and Plus customers - see the RevPoints Terms for further details
• up to NZ$20,000 exchange per monthly billing cycle (see the Personal Terms for further details on currency exchange); and
• up to NZ$700 worth of ATM withdrawals per rolling month (inclusive of any withdrawals from any Joint account).

5. The Metal Services

If you subscribe to Metal, you have access to the following card allowances before incurring any fees (Metal Card Allowance):

*If you do not order a Metal Card under your Metal Card Allowance (for Metal General), then you will be entitled to order 2 non-Metal cards.

In addition to each Metal Card Allowance listed above, you are entitled to an additional card at no cost every year after the 12 month initial subscription term for your Metal plan (including any replacements for lost or stolen cards). With a Metal subscription, you can also access virtual cards at no cost and are entitled to express delivery at no cost for any cards ordered within the Metal Card Allowance.

Metal users also have access to the services available to Premium users, as well as the following benefits at no charge other than the subscription fee:

• access to additional included subscriptions and other benefits with our plan partners (on top of those included with Premium);
• international transfer discounts (at a higher discounted rate than offered on Premium);
• up to five Revolut Kids & Teens (RKT) Accounts;
• the ability to earn Points on eligible everyday spend at a higher rate than Premium customers - see the RevPoints Terms for further details;
• unlimited fiat currency exchange (see the Personal Terms for further details on currency exchange); and
• up to NZ$1,400 of ATM withdrawals per rolling month (inclusive of any withdrawals from any Joint account).

6. The Ultra Services

If you subscribe to Ultra, you have access to the following card allowances before incurring any fees (Ultra Card Allowance):

*If you do not order an Ultra Card under your Ultra Card Allowance (for Ultra General), then you will be entitled to order 2 non-Ultra or non-Metal cards.

In addition to each Ultra Card Allowance listed above, you are entitled to an additional card at no cost every year after the 12 month initial subscription term for your Ultra plan (including any replacements for lost or stolen cards). With an Ultra subscription, you can also access virtual cards at no cost and are entitled to express delivery at no cost for any cards ordered within the Ultra Card Allowance.

Ultra users also have access to the services available to Metal users, as well as the following benefits at no charge other than the subscription fee:

• access to additional included subscriptions and other benefits with our plan partners (on top of those included with Metal);
• international transfer discounts (at a higher discounted rate than offered on Metal);
• the ability to earn Points on eligible everyday spend at a higher rate than Metal customers - see the RevPoints Terms for further details; and
• up to NZ$3,500 of ATM withdrawals per rolling month (inclusive of any withdrawals from any Joint account).

7. RevPoints Program

Paid Plan Users may opt into the RevPoints Program, a loyalty program where users are able to receive, hold and redeem Points.

You can learn more about our Points loyalty program in the RevPoints Terms.

8. Information on Paid Plan Cards

Card personalisation

Paid Plan users can add exclusive designs to any Card, or to any Revolut – Kids & Teens Card they order while they are a Paid Plan user at no extra cost.

Card allowance

We’ve set out above in the sections related to what services you receive as part of your Paid Plan what your Card allowance is. You can also find your Card allowance in the Fees and Charges Section for your Paid Plan. Additional cards ordered above your Card allowance will incur an additional fee, which is set out on our Fees and Charges Section.

Complimentary Insurance

9. Complimentary Insurance

If you are subscribed to a Paid Plan, you may be eligible to access the benefit of certain complimentary insurance cover. Our complimentary insurance cover is detailed in Section 10 (Everyday Protection Insurance) and Section 11 (Travel Insurance), below.

Any complimentary insurance you may be eligible for, where it is included in your Paid Plan, does not consider your personal situation and their suitability for your situation has not been considered by us. We do not guarantee any benefits under any complimentary insurance and we do not arrange or provide any financial advice or express any opinion of any nature in relation to coverage under complimentary insurance policies and whether the insurance meets your needs or objectives. We recommend that you read the specific terms and conditions that apply and that you seek your own independent financial advice as to whether any complimentary insurance is suitable for your needs, financial situation or objectives.

There is no additional charge or premium for any insurance included in your Paid Plan. If you choose not to accept any of the benefits under complimentary insurance, or don't meet the conditions or eligibility criteria to activate any complimentary insurance cover, this doesn't change the subscription fee payable by you.

We don't control or own any of our insurance providers in any way, and they don’t control or own us. We don’t receive commission from any of our complimentary insurance providers.

Important information

Chubb Insurance New Zealand Limited NZBN 9429040398037, FSP 35924 (Chubb) has issued a group insurance policy to Revolut Payments New Zealand Pty Ltd NZBN 9429048733212 which allows eligible Revolut account holders to claim under the group policy.

You are not obliged to claim any benefits under the complimentary insurance cover. If you are eligible for and wish to claim any benefits, you will be bound by the relevant eligibility criteria, terms, conditions, limits (and sublimits) and applicable exclusions as set out in the Everyday Protection Insurance Terms & Conditions Documents and the Travel Insurance Terms & Conditions Documents (Premium, Metal and Ultra). Excesses may apply and may be deducted from any benefit paid.

No advice is provided on this insurance or on whether it is right for you. To decide if this product is right for you, please read the full terms and conditions.

Chubb is responsible for handling any claim you make under a policy and for making any payments if your claim is accepted. If you have a claim, please contact the insurer directly using the details included in the policy documents. Please also read Section 16 (Claims and complaints about our complimentary insurance) of these Terms which contains important information.

10. Everyday Protection Insurance

If you are subscribed to an Eligible Paid Plan, you may be eligible for complimentary purchase protection and/or extended warranty insurance on purchases made with a card linked to your Revolut account.

Benefits available include insurance for your eligible covered item if it is stolen or, accidentally damaged, or if it breaks down during the extended warranty period (subject to terms, conditions, limits, exclusions and excesses).

To claim benefits, you will need to meet the eligibility criteria set out in the relevant Everyday Protection Insurance Terms & Conditions document (as referred to above), which includes (but is not limited to):

• purchasing the eligible item using a card connected to your Revolut account;
• having an active Eligible Paid Plan at the time the purchase referred to above is made; and
• having an active Eligible Paid Plan at the time you suffer a claimable event under the Terms & Conditions.

Section 16 (Claims and complaints about our complimentary insurance) of these Terms which contains important information on how to make a claim or a complaint about your complimentary everyday protection or extended warranty insurance.

11. Travel Insurance

If you are subscribed to an “Eligible Paid Plan” as per the table below, you may be eligible for complimentary domestic and international travel insurance when you pay for your travel using your Revolut account.

Some of the benefits available include trip cancellation and amendment cover, overseas emergency medical cover and cover for lost or damaged personal property and effects.

To claim benefits under complimentary travel insurance cover, you will need to meet the eligibility criteria set out in the relevant insurance Terms & Conditions document (as referred to above), which includes (but is not limited to):

• charging the relevant minimum amount of travel spend to a card connected to your Revolut account;
• having an active Eligible Paid Plan at the time the charge referred to above is made; and
• having an active Eligible Paid Plan at the time you suffer a claimable event under the Terms & Conditions.

Section 16 (Claims and complaints about our complimentary insurance) of these Terms contains important information on how to make a claim or a complaint about your complimentary travel insurance.

12. Fees and cancelling

When you become a Paid Plan user, we will debit the subscription fee, and any subsequent subscription fees, from the balance held in your Revolut account. We will debit any future subscription fees from the balance in your Revolut account.

If we can’t take payment from your Revolut account for any reason (for example, because you do not have sufficient funds), we will ask you to top-up your balance within 7 days using a debit card or credit card you have registered with us. If you don’t do this within the 7 day period and we’re still unable to collect the payment using the collection methods set out in clause 27 of the Personal Terms we’ll let you know that the payment is outstanding and that you have 14 days to pay us. If we don’t receive payment within that period we may take legal steps to collect the payment. If we take legal steps you will have to pay our reasonable costs of doing so.

If we cancel your subscription we will not refund any amounts you have already paid for the Paid Plan subscription.

13. Notice period for ending your Paid Plan subscription

You may cancel or end your Paid Plan subscription at any time subject to any applicable notice period. There are no fees associated with ending your Paid Plan subscription. However, you will continue to be billed until the end of the relevant notice period. You'll still be able to benefit from the Paid Plan services during this period. At this point, your subscription will end.

Monthly subscription (Plus, Premium and Metal)

Monthly Subscription (Ultra)

Annual Subscription

For an annual subscription, your cancellation request will be processed immediately.

If you cancel within the first 14 days you will receive a full refund for any amount paid.

If you cancel after 14 days no refund of any amount paid will be available. At this point, your subscription will end.

Please see the Fees and Charges Section for more information.

14. When can Revolut end my Paid Plan subscription?

We can end your Paid Plan subscription immediately if:

• you owe us money and, following a request for payment, you have not paid us;
• we reasonably believe it is required to protect you or us from fraud;
• we’ve closed your Revolut account under the Personal Terms;
• we must do so under any law, regulation, court order or instructions of a regulator.
• we have requested information from you (e.g. to comply with anti-money laundering laws) and you haven’t given us the information we need within a reasonable time of us reminding you to or you’ve given us incorrect information and haven’t corrected it within a reasonable time of us asking you to;
• you’ve breached these terms and conditions; or
• your use of our services poses a material risk to our reputation.

15. Complaints about our service

If you’re unhappy with our service, we’ll try to make things right

We always do our best, but we realise that things sometimes go wrong. If you have a complaint, please contact us.

How to make a complaint

If you’d just like to speak to someone about an issue that’s concerning you, please contact us through the Revolut app. We can usually settle matters quickly through the Revolut app.

If you prefer you can make your complaint using this form. Or you can email us at formalcomplaints@revolut.com.

You’ll need to tell us:

• your name;
• the phone number and email address associated with your account;
• when the problem arose; and
• how you’d like us to put the matter right.

We’ll look into your complaint and respond to you by email as soon as possible and provide a final response within 45 days of receiving the complaint.

Financial Services Complaints Limited

If you are unhappy with how we have dealt with your complaint, you can refer it to Financial Services Complaints Limited (FSCL). FSCL provides fair and independent financial services dispute resolution that is free to customers.

Their address is:

Financial Services Complaints Ltd

PO Box 5967

Wellington 6145

Phone: 0800 347 257

Email: complaints@fscl.org.nz

Website: www.fscl.org.nz

You can find more information on their website.

16. Claims and complaints about complimentary Insurance

Claims and complaints in relation to complimentary insurance cover should be made to the insurer, Chubb. Revolut does not handle claims or complaints in relation to complimentary insurance cover. Please see the relevant Insurance Terms & Conditions Documents for more information and contact details.

Legal bits and pieces

17. We can change these Terms

From time to time we may need to change these terms and conditions, including:

• if we think it will make them easier to understand or more helpful to you;
• to reflect the way our business is run, particularly if the change is needed because of a change in the way any financial system or technology is provided;
• to reflect legal or regulatory requirements that apply to us;
• to reflect changes in the cost of running our business; or
• because we are changing or introducing new services or products that affect our existing services or products covered by these terms or conditions.

Telling you about changes

If we add a new product or service that doesn’t change your rights and obligations under these terms and conditions, we can add the product or service immediately but we'll let you know before you use it. For changes that we reasonably believe are not adverse to your interests we will tell you about the change no later than the day the change occurs.

For any other changes we will provide you with 30 days notice before making the change. We'll assume you're happy with the change unless you tell us that you want to close your account before the change is made.

18. Other information

Our contract with you

Only you and we have rights under the agreement. The agreement is personal to you and you cannot transfer any rights or obligations under it to anyone else.

Our right to transfer

We reserve the right to transfer, assign or novate this agreement if we reasonably think that this won't have a significant negative effect on your rights under these terms and conditions or we need to do so to keep to any legal or regulatory requirement and you consent to any such transfer. When we transfer rights and obligations we call this ‘novation’. When we only transfer rights, we call this ‘assignment’.

Our right to enforce the agreement

If you have broken the agreement between you and us and we don’t enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing them at a later date.

Taking legal action against us

If you want to bring a claim against us in the courts, the laws of New Zealand will apply and the courts of New Zealand will be able to deal with any matter relating to these terms and conditions.

Privacy

We will process your personal data in line with our Privacy Policy which you can access here.