Terms & Conditions
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Terms & Conditions

These Terms of Service are effective for new users and existing users who have opted-in early as of Jan 16, 2017. Otherwise, they are effective as of Feb 20, 2017.

IMPORTANT: PLEASE CAREFULLY READ THE FOLLOWING TERMS OF SERVICE. YOU ACKNOWLEDGE THAT YOU UNDERSTAND AND AGREE TO ALL OF THESE TERMS IF YOU HAVE CREATED OR USED A REVOLUT ACCOUNT OR HAVE CLICKED AN "I ACCEPT" BUTTON WITH RESPECT TO THE USE OF REVOLUT SERVICES.

These Terms of Service are between you (the User) and Revolut LTD, a company incorporated in England and Wales with company number 08804411 and whose registered office is at Level39 1 Canada Square E14 5AB London UK.

Revolut is the issuer for the electronically stored monetary value in Your account under authorization from the Financial Conduct Authority (reference number: 900562) and as such will provide certain payment service activities in accordance with the E-Money Regulations 2011 and the Payment Service Regulations 2009.

We may amend these terms in accordance with paragraph 8.6. You must carefully review these Terms of Service and documents referenced herein when choosing whether to use the Revolut Services. Please be advised: These Terms of Service contain provisions that govern how claims we have against each other are resolved, including an agreement to arbitrate, which will, with limited exception, require you to submit claims you have against us to binding and final arbitration. You will be permitted to pursue claims against us only on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding, and you will be permitted to seek relief (including monetary, injunctive, and declaratory relief) only on an individual basis.

Please note the following risks of using the Revolut Services, which are set forth in more detail in the relevant sections of these Terms of Service: We may close, suspend, or limit your access to your Revolut Account and the Revolut Services if you violate these Terms of Service, or any other agreement you enter into in relation with this service, or as may be otherwise specified in these Terms of Service. We may also use fraud and risk modeling when assessing the risk associated with your Revolut Account.

These Terms of Service are separate and independent from the terms and conditions of the Card Issuer (the Cardholder Agreement") which governs the relationship between you and the Card Issuer. By agreeing to the Revolut Terms of Service you shall be deemed to agree to the terms of the Cardholder Agreement as well. In the event of a conflict between these Terms of Service and the Cardholder Agreement, the terms of the Cardholder Agreement shall prevail.

Capitalized terms have the meanings set forth in Schedule 1—Definitions, or the meaning set forth below.

Your Use of Another User’s Information

1.1 You agree to use Information that you receive about another User only as necessary to use the Revolut Services. You shall not disclose such Information to a third party, use such Information for your marketing purposes or use it for any other purposes, without our prior written consent to do so and, where required by law, the consent of the other User.

Location-Based Data

1.2 You may opt-out of providing location data through your mobile device; Unless you opt-out of providing location data, you consent to the collection, use, sharing, and onward transfer of location data, as further set forth in the Privacy Policy.

Security

1.3 You are responsible for maintaining adequate security and control of your mobile phone, any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access the Revolut Services, Revolut Card and your Revolut Account. You should also carefully safeguard your Card. You agree to immediately notify us of any unauthorized use of your login credentials or other breach of security, via our in-app chat support system. You can also block your card on the app anytime, and if unable you can do it via our automated phone line +44 (0) 203 322 8352.

1.4 All Transactions are processed by automated methods, and anyone who obtains your access credentials and/or mobile phone could use it to transfer your money without your permission. 

1.5 You should treat the funds held in your Account like cash in a wallet. If a Card is lost or stolen or there is unauthorised use of a Card, you may lose some or all of the balance held in your Account in the same way as if you lost cash.

Eligibility

1.6 To be eligible to use the Revolut Services, you must be at least 18 years old.

Services Generally

2.1 You may send money from, and receive money into, or exchange money in your Revolut Account through the Revolut Services, by using a mobile device, the Internet, or other technologies on which Revolut may make the Revolut Services available from time to time. You may add money to your Revolut Account and conduct payment transactions as described below. Please note that funds sent through the Revolut Services may not be instantly available to you.

Account Profile

2.2 From the interface in the Revolut Services, you may view your Transaction history, change applicable settings, and exchange and send money, and any other services we may choose to provide.

Changes to the Revolut Services

2.3 We reserve the right to change, suspend or discontinue any aspect of the Revolut Services at any time, including hours of operation or availability of the Revolut Services or any Revolut Services feature, without notice and without liability. We also reserve the right to impose limits on certain Revolut Services features or restrict access to some or all of the Revolut Services without notice and without liability.

Transaction Restrictions

2.4 Restrictions on transactions are fully described in Revolut App.

Approved Devices and Platforms

2.5 The Revolut Services is intended for use on mobile devices, Apple or Android operating systems, the Revolut web site, or other devices or operating systems approved by Revolut, as provided to you directly by Revolut. You are strictly prohibited from using the Revolut Services on a mobile device or operating system, or other device or operating system that has been modified or customized in any way. You bear sole responsibility for such unauthorized use of the Revolut Services on a modified mobile device or computer.

Account Creation

3.1 When you sign up, you are creating a Revolut Account unique to your provided phone number. During the signup process for the creation of a Revolut Account we will ask you to provide certain Information.

Identity Authentication

3.2 You agree to cooperate with all requests made by us or any of our third party service providers in connection with your Revolut Account, to identify you, authenticate your identity, or validate your funding sources or Transactions. We and/or the Card Issuer reserves the right to close, suspend, or limit access to your Revolut Account and/or the Revolut Services in the event we are unable to obtain or verify such Information. You authorize Revolut, directly or through Revolut third party service providers, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide your date of birth, or other information that will allow Revolut to reasonably identify you, including requiring you to take steps to confirm ownership of your phone number or payment instruments or verifying your Information against third party databases or through other sources. We may also ask to see your driver’s license or other identifying documents at any time (on our own behalf or on behalf of the Card Issuer).

Accuracy of Information

3.3 You are responsible for the accuracy of the applicable payment information for each Transaction you engage in, including the email address, telephone number of the recipient, WhatsApp, Facebook or Other communication channels and the amount of the Transaction.

Intellectual Property

3.4 "Revolut.com," "Revolut", "Revolut – personal money cloud" and all logos related to the Revolut Services are either trademarks or registered trademarks of Revolut or its licensors. You may not copy, imitate or use them without Revolut’s prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Revolut. You may not copy, imitate, or use them without our prior written consent. All right, title and interest in and to the Revolut website, any content thereon, the Revolut Services, the technology related to the Revolut Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Revolut and its licensors.

Customer Support

3.5 If you have an inquiry regarding a payment made with the Revolut App, or you believe there has been an error or unauthorized Transaction, please contact Revolut Customer Support immediately. Customer Support can be contacted through the in-app chat support system on the Revolut App. You can block your card on the app anytime, if unable you can do it via our automated phone line +44 (0) 203 322 8352.

Card Service

4.1 You will be issued a Card by the Card Issuer and you hereby authorize us to share any Information you provide to us with the Card Issuer. The Card Issuer will use such Information that you provide in accordance with its privacy policy as set out in the Cardholder Agreement.

4.2 For the avoidance of doubt Revolut is the merchant of record for all Transactions to load your Account.

Transaction Limits

4.3 Transactions with your Account (including Transactions initiated using your Card) may be limited by applicable limits set by Revolut or the Card Issuer. The limits are defined in Revolut App.

Reported Account Balance

4.4 You acknowledge that balances and available funds reported via the Revolut Services only approximate real time balances rather than the settled balances in your Account. A real time balance may not take into account pending debits and credits. Despite that fact, Revolut will provide you information about pending debits and credits when it has that information.

Loading Your Account

4.5 To load your Account, you must request an electronic transfer from either your Registered Bank Account or a debit card. In such a transaction, you are instructing Revolut to accept electronic transfers via direct deposit, or from a debit or credit card, in the amount you specify, and to deposit such funds into your Account.

4.6 You can deposit money to your Revolut account only from a bank account registered in your name. Transfers from third parties, including but not limited to companies, friends and family, will be returned to the sender's account after deducting third-party processing fees.

Methods of Sending, Spending or Exchanging Money

5.1 By sending, spending or exchanging money, you authorize and instruct Revolut to communicate your instruction to execute the transaction. Once you have provided your authorization for the Transaction, you will not be able to cancel it, except as provided for by applicable law. You are solely responsible for confirming the accuracy of any Transactions made by you.

Receipts at Merchant Locations

5.2 Revolut provides virtual receipts for all Transactions, which are accessible online or through the App. In addition to virtual receipts, merchants should provide you receipts when you use the Revolut Services. Revolut is under no obligation to provide you with a physical receipt or other written confirmation in connection with any Transaction.

Refused and Refunded Transactions

5.3 When you send money, the recipient is not required to accept it. You agree that you will not hold us liable for any damages resulting from a recipient’s decision not to accept a payment. Any unclaimed, refunded or denied payment will be returned to you through the original Payment Instrument. Any unclaimed payment will be returned to you within 30 days of the date you initiated payment.

Sending Money to a Non-Revolut Account Holder

5.4 Revolut Services may allow you to send money to someone who is not yet a Revolut Account Holder. In all cases, upon the sending of money, Revolut will invite the non- Revolut Account Holder to become a Revolut Account Holder in order to receive your payment or to receive money in their bank account. As part of that process, you authorize Revolut to send mail, email, SMS messages, and push notifications to the non-Revolut Account Holder on your behalf. If the non-Revolut Account Holder decides to accept your payment in their bank account, then Revolut will follow the necessary steps to ensure the execution of the Transaction. A third party may be instructed under agreement with Revolut to complete the Transaction to the non-Revolut Account Holder.

Fraud Detection

5.5 Revolut may delay sending instructions on your behalf if it has reason to believe that your instructions may involve fraud or misconduct, or violate applicable law, these Terms of Service, applicable Revolut policies, as determined in Revolut’s sole and absolute discretion.

Taxes

5.6 It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply to your Transaction, or for collecting, reporting or remitting any taxes arising from any Transaction. In certain circumstances, such as if you are a legal resident of the Republic of Ireland and you conduct an ATM transaction in the Republic of Ireland, Revolut may collect from You the appropriate stamp duty up to the legal maximum as required by the Irish Revenue Commissioners. You hereby agree to comply with any and all applicable tax laws in connection with your use of the Revolut Services, including without limitation, the reporting and payment of any taxes arising in connection with Transactions made through the Revolut Services.

Fees for the Revolut Services – Fair Use Policy

5.7 The fees for the Revolut Services are set out in Schedule 2 at the bottom of this agreement. These fees are incorporated into these terms and conditions and are subject to change from time to time by us giving you two months’ notice. Information on why we charge certain fees can be viewed in the Fair Use Policy which may be viewed on our website at https://revolut.com/fairusage.

5.8 Please be aware that some ATM providers charge additional fees for the use of their ATMs and some Merchants add a surcharge for accepting certain types of cards. You may also be subject to their terms and conditions of business when using a Card with them and it is your responsibility to check before proceeding with a Transaction.

Transaction Authorisation

5.9 You will be deemed to have authorised a transaction by using the Card together with (i) the PIN Code or with (ii) the CVC Code and expiry date or with (iii) the signature of the Cardholder or (iv) using the Card’s contactless functionality.

5.10 Your Card (other than a virtual card) can be used to make cash withdrawals from ATMs and banks who agree to provide this service as well as payments authorised Merchants, unless we inform you otherwise.

5.11 The value of each Transaction and the amount of any fees or charges payable by you under these Terms of Service will be deducted from the available balance in your account.

5.12 Once a Transaction is authorised it cannot be withdrawn. Within the EEA we will ensure transfer of the payment to the payment service provider of the Merchant within three Business Days and ensure transfer of the payment within one Business Day. If the payment service provider of the Merchant is located outside the EEA, we will transact the payment as soon as possible.

5.13 Some Merchants such as car hire companies, hotels, restaurants and other service providers will estimate the sum of money you may spend with them or for which you require authorisation. This estimate may be for a greater amount than the amount you finally spend with them or are charged for by them. This means that some of the funds on your Account may be held for up to 30 days until the Merchant has settled the Transaction amount and accordingly, You will not be able to spend this estimated sum during this period. We cannot release such sum without authorisation from the Merchant. In certain situations, for example at restaurants, you may be required to have a maximum of 20% more on your Wallet than the value of the bill to allow for any service charge added by the restaurant.

How You May Close Your Revolut Account

6.1 You may close your Revolut Account at any time by contacting customer service. Your Revolut Account can be closed only by you.

6.2 Whether your Account if closed by You or terminated by Revolut in accordance with these Terms of Service, if your Revolut Account holds a balance at the time of its closure, we will ask you to withdraw your funds within a reasonable period of time, during which your Revolut Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your Revolut Account but you may withdraw any remaining funds by contacting Customer Service and requesting that the funds are sent to you by returning the funds by either a card refund or bank transfer. You may do so for a period of six years from the date of closure of your Revolut Account. Once Revolut has verified your identity, it will close your Account. When your Revolut Account is closed, any pending instructions will be cancelled.

Limitations on Closing Your Revolut Account

6.3 You may not close your Revolut Account to evade an investigation. If you attempt to close your Revolut Account while Revolut is conducting an investigation, it may freeze the account to protect all parties to the Revolut Services, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your Revolut Account even after the Revolut Account is closed.

Electronic Delivery of Communications

7.1 All fees are charged as per Revolut App notifications. Your bank may also charge you fees as related to the applicable Payment Instrument. This section describes how Revolut communicates with you electronically, provides additional detail about the Communications we provide you, and sets out the hardware and software you need to receive these Communications.

7.2 You agree and consent to electronic receipt of all Communications that we provide in connection with your Revolut Account and the Revolut Services. Since the Revolut Service is an electronic service, you agree that Revolut has no obligation to send, and you have no right to receive, communications in paper form. We will provide Communications to you by making them available through the Revolut Services or by emailing them to you at the primary email address listed in your Revolut Account profile. Electronic Communications shall be deemed to be received by you upon delivery in the following manner posting them to your Revolut App, or on our web site or making them available through the Revolut Services.

7.3 Revolut and the Card Issuer may issue combined Communications for the sake of convenience and you hereby consent to such joint Communications. You acknowledge and agree that such joint Communications shall not make the Revolut or the Card Issuer responsible for the other’s services.

Checking for Communications and Updates

8.1 It is your responsibility to log on to your Revolut Account and the Revolut Services to open and review Communications that we deliver to you through those means. We may, but are not obligated under these Terms of Service to provide you with notice of the posting of a Communication to your Revolut Account or the Revolut Services. You are obligated to review your notices and Transaction history, and to promptly report any questions, apparent errors, or unauthorized Transactions. Failure to timely contact Revolut may result in loss of funds or important rights. You agree that we will not provide you with a separate periodic statement for your use of the Revolut Services unless you specifically request one, in which case you will be charged a fee as described in the Card Terms and Conditions. You are responsible for reviewing the Transactions reflected in your Transaction history, as made available in the App.

Calls to You Mobile Telephone Numbers

8.2 By providing Revolut a telephone number (including a mobile telephone number), you agree to receive autodialed and prerecorded message calls at that number. The ways in which you provide us a telephone number include, but are not limited to, providing a telephone number at Revolut Account opening, adding a telephone number to your Revolut Account at a later time, providing it to one of our employees, or by contacting us from that phone number. If a telephone number provided to us is a mobile telephone number, you consent to receive SMS or text messages at that number, for service-related matters. We will not share your phone number with non-affiliated third parties for their purposes without your consent and we will never market, advertise, or solicit you using autodialing or prerecorded messages, but we may share your phone numbers with the Card Issuer, our affiliates or with other service providers, such as billing or collections companies, who may contact you using autodialed or prerecorded message calls or text messages. Standard telephone minute and text charges may apply if we contact you.

Recording Calls

8.3 You understand and agree that Revolut may, without further notice or warning and in our discretion, monitor or record the telephone conversations you or anyone acting on your behalf has with Revolut or its agents for quality control and training purposes or for its own protection. You acknowledge and understand that, while your communications with Revolut may be overheard, monitored, or recorded without further notice or warning, not all telephone lines or calls may be recorded by Revolut, and Revolut does not guarantee that recordings of any particular telephone calls will be retained or retrievable.

Updating Your Contact Information

8.4 It is your responsibility to keep your primary email address up to date so that Revolut can communicate with you electronically. You understand and agree that if Revolut sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Revolut will be deemed to have provided the Communication to you. You can update your primary email address or street address at any time by logging into the Revolut App or by calling +44 (0) 203 725 7583. If your phone number becomes invalid, Revolut may deem your Revolut Account to be inactive, and you will not be able to use your Revolut Account until we receive a valid, working primary email address from you.

Amending these terms and conditions

8.5 These terms and conditions may be amended unilaterally by us, by you being given two months’ notice. These changes will be deemed to have been accepted by you where you do not, before the proposed date of the entry into force of the changes, notify us to the contrary. If you do notify us to the contrary, your notification will be deemed to be a notice that you wish to close your Revolut Account.

Restricted Activities

9.1 In connection with your use of the Revolut Services, or in the course of your interactions with Revolut, other Users, or third parties, you will not carry out any of the following activities (the "Restricted Activities"):

  • Breach these Terms of Service, or any other agreement or policy that you have agreed to with Revolut, the Card Issuer, or a Card Processor;
  • Violate any law, statute, ordinance, or regulation;
  • Use the Revolut Services to purchase or sell, or to facilitate the purchase or sale of, illegal goods or services, including, but not limited to: unlawful sexually oriented materials or services, counterfeit products, unlawful gambling activities, fraud, money laundering, the funding of terrorist organizations, or the unlawful purchase or sale of tobacco, firearms, prescription drugs, or other controlled substances;
  • Infringe Revolut or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
  • Act in a manner that is defamatory, libelous, threatening or harassing;
  • Provide false, inaccurate or misleading information;
  • Engage in debt-collection activities;
  • Instruct us to send or receive what we reasonably believe to be potentially fraudulent funds on your behalf;
  • Refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us;
  • Attempt to "double-dip" during the course of a Dispute, Chargeback, Reversal or other investigation, with "double-dipping" being defined as intentionally or knowingly receiving or intentionally or knowingly attempting to receive funds from both Revolut and a merchant or the Card Issuer for the same Transaction;
  • Control a Revolut Account that is linked to another Revolut Account that has engaged in any of these Restricted Activities;
  • Conduct your business or use the Revolut Services in a manner that is likely to result in or may result in complaints, Disputes, Reversals, Chargebacks, fees, fines, penalties or other liability to Revolut, other Users, third parties or you;
  • Use your Revolut Account or the Revolut Services in a manner that the Card Issuer, Visa, MasterCard, American Express, Discover or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;
  • Allow your Revolut Account to have a negative balance;
  • Provide yourself a cash advance from your credit card (or help others to do so);
  • Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information; use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission; or interfere or attempt to interfere with the Revolut Services;
  • Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers;
  • Use the Revolut Services to test credit card behaviors;
  • Circumvent any Revolut policy or determinations about your Revolut Account such as temporary or indefinite suspensions or other Revolut Account holds, limitations or restrictions, including, but not limited to, engaging in the following actions: attempting to create new or additional Revolut Account when a Revolut Account has a negative balance or has been restricted, suspended or otherwise limited; creating new or additional Revolut Accounts using Information that is not your own (e.g. name, address, email address, etc.); or using someone else’s Revolut Account;
  • Harass our employees, agents, or other Users;
  • Use the Revolut Services to fund or remit payroll or payroll deposits;
  • Refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us; or Use the Revolut Services in a manner that we believe may be a violation of any applicable electronic payment network rules, card association or network rules, or applicable law.
  • Use the Revolut Services to trade FX for speculative purposes or for FX arbitrage

If your Revolut Account is used to conduct (or to attempt to conduct) Transactions that we believe are not permitted by these Terms of Service (such as one of the activities set forth above) or applicable law, we may, in our sole discretion, and without waiving any of our rights, freeze, close, suspend, terminate or limit your access to the Revolut Services. We reserve the right to refuse to facilitate any Transaction.

Fraud Monitoring

9.2 Revolut may monitor your Transactions for the purpose of determining fraudulent activity and whether you are in good standing. Based on our methods, which are subject to change without notice, we may decide to suspend your Revolut Account, or in other ways limit your privileges. Revolut will use all available information to help combat fraud on our system. If you believe your Revolut Account has been opened or used in an unauthorized manner in connection with a Transaction, please contact us

Unauthorized Transactions

9.3 If you think that you have lost any of your Account ID Information, or they have been stolen, or in the event of an unauthorised Transaction, or a Transaction which has not been executed or has been incorrectly executed by us, you must let us know without undue delay and in any case no later than 13 months after the debit date, by contacting Revolut customer support as soon as possible via our in-app chat support system. You also can block your card on the app anytime, if unable you can do it via our automated phone line +44 (0) 203 322 8352.

9.4 Subject to clauses 9.5 and 9.6, you shall be entitled to a refund in the amount of an unauthorised Transaction or a Transaction incorrectly executed by us and, where applicable, restoration of your Account to the state it would have been in had the unauthorised or incorrectly executed Transaction not taken place, provided you have notified us of the Transaction in question without undue delay and in any case no later than 13 months after the debit date (save where we have failed to provide or make available the required transaction information to you). Any undue delay in making a notification may result in you being liable for any losses as a result.

9.5 Subject to clause 9.6, you are liable up to a maximum of €50 (or the equivalent in the currency of your Account) for any losses incurred in respect of an unauthorised Transaction arising from:

9.5.1 the use of your Account ID Information where these details have been stolen; or

9.5.2 where you have failed to keep your Account ID Information safe.

9.6 You will not be liable for any losses incurred in respect of an unauthorised Transaction if you have exercised reasonable care in safeguarding your Card and Account ID Information from risk of loss or theft or unauthorized use and, upon becoming aware of an unauthorized Transaction or the loss or theft of your Card or Account ID Information, you notified us promptly. You will not be liable for any losses which arise after you have notified us that you believe any of your Account ID Information has been stolen or might be used in an unauthorised way, as specified in clause 9.3.

9.7 You shall be liable for all losses incurred in respect of an unauthorised Transaction where:

9.7.1 you have acted fraudulently;

9.7.2 you have compromised the security of your Account with intent or with gross negligence; or

9.7.3 you have provided any of your Account ID Information to another person who then uses those details to make a Transaction.

In these circumstances, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop your Card or Account being used and to recover any monies owed as a result.

Exchange Rates

9.8 We reserve the right to revert foreign exchange trades done with you if traded prices differ from market rates due to any external factors such as volatile market conditions, Revolut Services system failure or any other external factors. Please see Schedule 2 for further details of the exchange rates we will apply.

9.9 We will make every effort to provide you with the best possible FX rates – interbank rates. However, in certain circumstances it is not possible e.g. due to FX market being closed on weekends or holidays. In such cases we might provide FX rates different from the last closed price to reflect a possible price gap on the market open.

Undelivered payments to third parties not in GBP, EUR or USD

9.10 Your Account only holds money in GBP, EUR and USD. However, you may use some or all of the money contained in your Account (the "Sale Currency Monies") to purchase currency which is not GBP, EUR or USD (the "Purchase Currency Monies") and send it to a bank account belonging to a third party (the "Beneficiary Account"). If the Purchase Currency Monies are not deposited in the Beneficiary Account, for whatever reason, and are returned to Revolut they will be converted into the currency of the Sale Currency Monies.

9.11 Due to (a) the difference in price for purchasing and selling currencies; and/or (b) fluctuations in currency exchange rates between the date the Purchase Currency Monies were purchased and the date the Purchase Currency Monies were converted back into the currency of the Sale Currency Monies, the amount of the converted GBP/EUR/USD might be more or less than the Sale Currency Monies. If it is more, then you acknowledge and accept that, owing to Revolut’s regulatory permissions, you will only be entitled to receive, as a maximum, the amount of the Sale Currency Monies. If it is less, than you acknowledge and accept that this is the case.

Your Liability — General

10.1 You are responsible for all liabilities, financial or otherwise, incurred by Us, a User, or a third party caused by or arising out of your breach of these Terms of Service, your use of the Revolut Services, and any use of your Revolut Account. You agree to reimburse Us, a User, or a third party for any and all such liability, to the extent not prohibited by applicable law. The consequence of any breach of the terms of the Card Terms and Conditions will be covered by that agreement, separately and independently from these Terms of Service.

Reimbursement for Your Liability

10.2 To the extent permitted by law, we may collect from you any obligations that you owe us under the Terms of Service. To the extent permitted by law, we may also collect from you, by any collection means available to us, any amounts we pay or incur in connection with Reimbursable Claims. Additionally, as applicable, you agree to cooperate with Us, the Card Processor, and any third party associated with the Revolut Services.

Actions— Restricted Activities

10.3 If Revolut its sole discretion believes that you may have engaged in any Restricted Activities, as set out in section 9 which are relevant to its support of this agreement, whether provision of payment services, it may take various actions to protect ourselves, other Users, other third parties, or you from liability. The actions it may take include but are not limited to the following:

  • It may close, suspend, or limit your access to your Revolut Account or the Revolut Services (such as limiting access to any of your Payment Methods, and/or your ability to send money, make withdrawals, or remove financial Information).
  • It may contact Users who have Transacted with you, contact your bank or credit card issuer, and/or warn other Users, law enforcement, or impacted third parties of your actions;
  • It may update inaccurate Information you provided us;
  • It may take legal action against you; and
  • Revolut in its sole discretion, reserves the right to terminate these Terms of Service or access to its website for any reason and at any time upon notice to you.

10.4 Revolut and the Card Issuer may also decline Card Transactions, or suspend, restrict or cancel your Card as set out in the Card Terms and Conditions.

Arbitration Generally

11.1 If a Dispute, claim, or controversy of any kind arises out of or relates to these Terms of Service, you and we agree to resolve any such Dispute, claim, or controversy exclusively through mandatory binding arbitration. You should review this provision carefully. This arbitration provision limits your and our ability to litigate claims in court, and you and we each agree to waive your and our respective rights to a jury trial. Any arbitration under this provision shall take place on an individual basis; class arbitrations and class actions are not permitted. You will not have the right to participate as a class representative, private attorney general, or member of any class of claimants for any claim subject to arbitration. A claim by, or on behalf of, other persons will not be considered in, joined with, or consolidated with the arbitration proceedings between you and us. Any Dispute regarding the prohibitions in the prior sentence shall be resolved by the arbitrator in accordance with these Terms of Service.

Applicable Law

11.2 You agree that the laws of the United Kingdom, without regard to principles of conflict of laws, will govern these Terms of Service and any claim or Dispute that has arisen or may arise between you and Revolut.

Agreement to Arbitrate

11.3 You and Revolut each agree that any and all Disputes or claims that have arisen or may arise between you and Revolut shall be resolved exclusively through final and binding arbitration, rather than in court, except that you may assert claims in small claims court, if your claims qualify.

Indemnification

11.4 You agree to defend, indemnify and hold the parties to these Terms of Service, our parents, affiliates and the officers, directors, agents, joint venturers, employees and suppliers of Revolut harmless from any claim or demand (including attorneys’ fees) made or incurred by any third party due to or arising out of your breach of these Terms of Service, your improper use of the Revolut Services, and/or your violation of any law or the rights of a third party

Release

11.5 If you have a Dispute with one or more Users, you release Revolut (and our parent, our affiliates, and our and their respective officers, directors, agents, joint ventures, employees and suppliers) from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such Disputes. You agree that you will not involve Revolut in any litigation or other Dispute arising out of or related to any Transaction, agreement, or arrangement with any User, advertiser or other third party in connection with the Revolut Services. If you attempt to do so, (i) you shall pay all costs and attorneys’ fees of Revolut and its affiliates and shall provide indemnification as set forth below, and (ii) the jurisdiction for any such litigation or Dispute shall be limited as set forth below

Limitations of Liability

12.1 IN NO EVENT SHALL REVOLUT, OUR PARENT AND AFFILIATES, AND THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF REVOLUT ("REVOLUT PARTIES") BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, THE REVOLUT SERVICES OR THESE TERMS OF SERVICE, HOWEVER ARISING. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. IN ADDITION, TO THE EXTENT PERMITTED BY APPLICABLE LAW REVOLUT PARTIES ARE NOT LIABLE, AND YOU AGREE NOT TO HOLD THESE PARTIES RESPONSIBLE, FOR ANY DAMAGES OR LOSSES (INCLUDING, BUT NOT LIMITED TO, LOSS OF MONEY, GOODWILL, OR REPUTATION, PROFITS, OR OTHER INTANGIBLE LOSSES OR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES) RESULTING DIRECTLY OR INDIRECTLY FROM: (1) YOUR USE OF OR YOUR INABILITY TO USE THE REVOLUT SERVICES; (2) DELAYS OR DISRUPTIONS IN THE REVOLUT SERVICES; (3) VIRUSES OR OTHER MALICIOUS SOFTWARE OBTAINED BY ACCESSING THE REVOLUT SERVICES OR ANY ASSOCIATED SITE OR SERVICE; (4) GLITCHES, BUGS, ERRORS, OR INACCURACIES OF ANY KIND IN THE REVOLUT SERVICES; (5) THE CONTENT, ACTIONS, OR INACTIONS OF THIRD PARTIES; (6) A SUSPENSION OR OTHER ACTION TAKEN WITH RESPECT TO YOUR REVOLUT ACCOUNT; (7) YOUR NEED TO MODIFY PRACTICES, CONTENT, OR BEHAVIOR, OR YOUR LOSS OF OR INABILITY TO DO BUSINESS, AS A RESULT OF CHANGES TO THESE TERMS OF SERVICE OR REVOLUT’S POLICIES. REVOLUT RESERVES THE RIGHT TO MODIFY ITS POLICIES AND THESE TERMS OF SERVICE AT ANY TIME CONSISTENT WITH THE PROVISIONS OUTLINED HEREIN.

No Endorsement of Products

12.2 Revolut does not represent or endorse, and shall not be responsible for:

  • the reliability or performance of any merchant or Third Party Provider;
  • the safety, quality, accuracy, reliability, integrity or legality of any good or service;
  • the truth or accuracy of the description of any good or service, or of any advice, opinion, offer, proposal, statement, data or other information (collectively, "Provider Content") displayed or distributed, purchased or paid through the Revolut Services; or
  • your ability to buy or redeem goods, services using the Revolut Services. Revolut hereby disclaims any liability or responsibility for errors or omissions in any Provider Content.

Revolut reserves the right, but shall have no responsibility, to edit, modify, refuse to post or remove any Provider Content, in whole or in part, that in its sole and absolute discretion is objectionable, erroneous, illegal, fraudulent or otherwise in violation of these Terms of Service.

No Warranty

12.3 THE REVOLUT SERVICES IS PROVIDED "AS IS," "AS AVAILABLE" AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. REVOLUT, AND THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF REVOLUT, OUR PARENT OR OUR AFFILIATES, (COLLECTIVELY, "REVOLUT PARTIES"), MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER FOR THE SERVICES OR THE CONTENT, MATERIALS, INFORMATION AND FUNCTIONS MADE ACCESSIBLE BY THE REVOLUT SERVICES USED ON OR ACCESSED THROUGH THE REVOLUT SERVICES, OR FOR ANY BREACH OF SECURITY ASSOCIATED WITH THE TRANSMISSION OF SENSITIVE INFORMATION THROUGH THE REVOLUT SERVICES.THE REVOLUT PARTIES DO NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE REVOLUT SERVICES WILL BE UNINTERRUPTED OR ERROR FREE. THE REVOLUT PARTIES SHALL NOT BE RESPONSIBLE FOR ANY SERVICE INTERRUPTIONS, INCLUDING, BUT NOT LIMITED TO, SYSTEM FAILURES OR OTHER INTERRUPTIONS THAT MAY AFFECT THE RECEIPT, PROCESSING, ACCEPTANCE, COMPLETION OR SETTLEMENT OF PAYMENT TRANSACTIONS OR THE REVOLUT SERVICES. THE REVOLUT PARTIES SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
REVOLUT DOES NOT HAVE ANY CONTROL OVER THE PRODUCTS OR SERVICES THAT ARE PAID FOR WITH THE REVOLUT SERVICES. REVOLUT IS NOT RESPONSIBLE FOR THE QUALITY, PERFORMANCE, OR ANY CONSEQUENTIAL RESULTS OF THE PRODUCTS AND OR SERVICES PURCHASED DURING THE TRANSACTIONS. REVOLUT CANNOT ENSURE THAT A MERCHANT YOU ARE DEALING WITH WILL ACTUALLY COMPLETE THE TRANSACTION OR IS AUTHORIZED TO DO SO. REVOLUT DOES NOT GUARANTEE CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO ANY PART OF THE REVOLUT SERVICES, AND OPERATION OF THE REVOLUT SERVICES MAY BE INTERFERED WITH BY NUMEROUS FACTORS OUTSIDE OF OUR CONTROL. REVOLUT WILL MAKE REASONABLE EFFORTS TO ENSURE THAT REQUESTS FOR ELECTRONIC DEBITS AND CREDITS INVOLVING BANK ACCOUNTS AND CREDIT CARDS ARE PROCESSED IN A TIMELY MANNER BUT REVOLUT MAKES NO GUARANTEES OR WARRANTIES REGARDING THE AMOUNT OF TIME NEEDED TO COMPLETE PROCESSING BECAUSE THE REVOLUT SERVICES ARE DEPENDENT UPON MANY FACTORS OUTSIDE OF OUR CONTROL, SUCH AS DELAYS IN THE BANKING SYSTEM. SOME STATES DO NOT ALLOW THE DISCLAIMER OF IMPLIED WARRANTIES, SO THE FOREGOING DISCLAIMERS MAY NOT APPLY TO YOU. THIS PARAGRAPH GIVES YOU SPECIFIC LEGAL RIGHTS AND YOU MAY ALSO HAVE OTHER LEGAL RIGHTS THAT VARY FROM STATE TO STATE.

Third Party Agreements

13.1 These Terms of Service do not amend or otherwise modify your agreement with the Card Issuer, or any other agreement with a third party, and you are responsible for ensuring your use of the Revolut Services complies with such agreements. You also are responsible for all charges and/or debits to your Payment Instrument resulting from purchases using the Revolut Services, in accordance with such agreements. In the event of any inconsistency between these Terms of Service and your agreement with the Card’s, or any other agreement with a third party, these Terms of Service govern the relationship between you and Revolut solely with respect to the Revolut Services, and your agreement with such third party governs the relationship between you and such third party. You acknowledge and agree that you are solely responsible for the Payment Instrument and other information you enter or otherwise store in the Revolut Services. Revolut is not responsible for the accuracy or availability of any information you enter or otherwise store in the Revolut Services, including, without limitation, whether such information is current and up-to-date.

Complete Agreement

13.2 These Terms of Service and the Card Terms and Conditions set forth the entire understanding between you, the Card Issuer and Revolut with respect to the Revolut Services. Any other terms which by their nature should survive, will survive the termination of these Terms of Service. Unless stated otherwise in these Terms of Service, if any provision of these Terms of Service is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced

No Assignment

13.3 You may not transfer or assign any rights or obligations you have under these Terms of Service without Revolut prior written consent. Revolut reserves the right to transfer or assign these Terms of Services or any right or obligation under these Terms of Service at any time.

No Third Party Beneficiaries

13.4 No third party shall have any rights to enforce the Terms of Service.

Termination by Revolut

13.5 We, in our sole discretion, may terminate these Terms of Service at any time, by giving two months notice, the termination of these Terms of Service will not affect any of our rights or your obligations arising under these Terms of Service. Termination of your Revolut Account requires termination of your Card. Revolut will deal with your remaining balance in accordance with clause 6.2.

Third Parties

13.6 We are not providing you with any benefits (including purchase protection and insurance) for your use of the Revolut Services besides those expressly stated.

Communication with Issuers

13.7 By electing to use the Revolut Services, you authorize Revolut, directly or through the Revolut Services to communicate with the Card Issuer, to provide or obtain any information required by the Card Issuer. The Card Issuer does not endorse and is not responsible for the Revolut Services.

No Relationship with Issuer of Payment Instruments

13.8 Use of the Revolut Services is not approved by, or offered in conjunction with the issuer of your Payment Instrument. Your Payment Instrument issuer may impose fees, Transaction limits, or other limitations.

Compliance with Legal Requests

13.9 We may comply with any subpoena, levy, or other legal process which we believe (correctly or otherwise) to be valid. We may notify you of such process electronically, by phone, or in writing. If we are not fully reimbursed for our record research, photocopying, and handling costs by the party that served the legal process, we may charge such costs to you. We may honor any legal process that is served personally, by mail, or by facsimile to us, even if the law requires personal delivery at another location.

Change in Service Providers

13.10 Both the Card Issuer and Revolut have the right to change any of its third-party service providers, including without limitation the Card Processor, with or without notice, that we, in our sole discretion, deem to be reasonable in the circumstances. You agree to cooperate with the Card Issuer and Revolut and any other service providers selected by Revolut as reasonably required for the Card Issuer or such other service providers to perform services for which it is responsible.

No Waiver

13.11 If we fail to enforce any of our rights under the Terms of Service, or applicable laws, it shall not be deemed to constitute a waiver of such right. If any provision is found by a court to be invalid, then the remaining provisions shall remain in full force and effect.

Force Majeure

13.12 We shall not be liable for any delays in processing or other nonperformance caused by such events as fires, telecommunications failures, utility failures, power failures, equipment failures, software failures, labor strife, riots, war, terrorist attack, nonperformance of our vendors or suppliers, acts of God, or other causes over which Revolut has no reasonable control, and nothing in this section will affect or excuse your liabilities and obligations under these Terms of Service.

Contact

13.13 To reach Revolut in relation to any technical issues regarding the Revolut App or the Revolut Services you can do so via in-app support or for lost and stolen cards by phone, block your card on the app anytime via our automated phone line +44 (0) 203 322 8352.

SCHEDULE 1 — DEFINITIONS

“Account ID Information” means any and all of the following pieces of information: your Card details (Card number, expiry date and CVV code), your PIN, information you use to log in to your Account, your secure identification number, security questions and answers and other Account credentials and information specific to your Account.

"Account Profile" means the location on the Revolut Services where you can, after logging in, view and manage your profile, including your personal information, and your Revolut Account settings including your notification preferences.

"Affiliates" are companies that are direct or indirect subsidiaries of Revolut or are otherwise related to Revolut through common ownership or control.

"Account" means the electronic money account opened and maintained in your name with Revolut.

"Card Processor" means a third-party payment network card (e.g, Visa, MasterCard, Discover or American Express) processor.

"Chargeback" means a request that you file directly with your debit or credit card company to invalidate a Transaction to load your Account.

"Card" means a Revolut-branded card issued to you (or, at your request, to another User) by the Card Issuer in accordance with the Card Terms and Conditions, whether in the form of a plastic or virtual card

“Card Issuer” means Paysafe Financial Services Limited, a company incorporated in England and Wales with company number 4478861 whose registered office is at Compass House, Chivers Way, Cambridge, CB24 9BZ and authorised and regulated by the Financial Conduct Authority (reference number: 900015)

"Communications" means any Revolut Account or Transaction information provided to you, including: any agreements and policies you agree to, (e.g., these Terms of Service) including updates to these agreements or policies; disclosures and notices, including prospectuses and reports for transaction receipts or confirmations; Revolut Account statements and history; and payments authorizations and transaction receipts or confirmations; documents; and any other information related to your Revolut Account or the Revolut Services.

"Dispute" means a dispute with respect to the Revolut Services (excluding Transactions) filed directly with us.

"Information" means any confidential and/or personally identifiable information or other information, including but not limited to the following: name, email address, date of birth, tax identification number, billing/shipping address, phone number and financial information.

"Payment Instrument" means an Account, a Registered Bank Account, or the Card.

"Mobile App" or "App" or "Revolut App" means the application on your mobile device through which you use the Revolut Services.

"Revolut Member" means a personal user of the Revolut Services.

"Revolut Services" means the payment solution that allows Users to make (i) Card Transactions; (ii) transfer monies to other Users or Non Users; or (iii) withdraw monies from your Account using a mobile device, the internet or other technologies through which Revolut may choose to offer its payment solution from time to time.

"Revolut Wallet" means the digital interface that allows you to add, manage and access Payment Instruments, conduct payment transactions and make other permitted uses of the Revolut Services.

"Revolut," "we," "us," or "our" means Revolut LTD, a company incorporated in England and Wales with company number 08804411 and whose registered office is at Level39 1 Canada Square E14 5AB London UK and authorised and regulated by the Financial Conduct Authority (reference number: 900562).

"Registered Bank Account" means an external bank account that you have registered and authenticated with the Revolut Services.

"Transaction" means the use of the Revolut Services to instruct Revolut or a third party to send/receive/exchange funds on your behalf for a purpose permitted hereunder, including the use of your Card to initiate a Transaction.

"User" means any person or entity using the Revolut Services including you and other Revolut Members.

SCHEDULE 2 — FAIR USE POLICY

Account
Mobile App
Free
Revolut Virtual MasterCard
Free
Revolut MasterCard
Standard Delivery £5 or currency equivalent
Global Express Delivery
UK (£12), Europe (€20), Elsewhere (€30) or currency equivalent
Account management
Free
Security Features
Free
Spare RevolutCard
Revolut Virtual MasterCard
£5 or currency equivalent
Revolut MasterCard
£10 (£5 Spare Card Fee + Standard Delivery £5) or currency equivalent
Global Express Delivery
UK (£12), Europe (€20), Elsewhere (€30) or currency equivalent
Top-up
Bank Transfer
Free
Debit card
Free
Credit Card
1%
USD debit/credit card
3%/4%
Revolut Transactions
Instant transfers
(Revolut to Revolut)
Free
Bank transfers
Free
ATM withdrawals
Free up to £200 (or currency equivalent) per calendar month. A 2% fee applies thereafter
Currency exchange transactions
(Currency exchange and cross-currency card purchases, withdrawals, and bank transfers)
Live interbank rate with no fees up to £5000 (or currency equivalent) per calender month. A 0.5% fee applies thereafter
Transfer changes or recalls
£10 per transfer recall, MT103 request or trace.

*Revolut will aim to provide the best live market exchange rate wherever possible, without any mark-up. As the market is closed at the weekend, there is no live market rate and Revolut must set a rate based on the market close and our currency exposure. Some illiquid currencies are hard for us to trade which means the rate we can offer may differ from the live interbank rate. For Thai baht, Russian rouble, and Ukrainian hryvnia we will offer the best available exchange rate we can provide at the time.

****This will apply for new users and existing who have opted-in early on Jan 16, 2017. Otherwise, they are effective as of Feb 20, 2017 unless you notify us to the contrary before that date.