Part of our Revolut UK — Complete Guide 2026 hub.
Yes — Revolut is FSCS protected in the UK, for accounts held with Revolut Bank UK Ltd. On 11 March 2026, the Prudential Regulation Authority (PRA) lifted the restrictions on Revolut’s UK banking licence and Revolut Bank UK Ltd became a fully authorised bank. Eligible deposits held with it are now protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person — the deposit protection limit that now applies across all UK banks, following an industry-wide rise from £85,000 on 1 December 2025.
This is the same protection you get with Monzo, Starling, Barclays, and every other UK-licensed bank. Revolut’s route to this point was longer than most: it was granted a restricted “mobilisation” licence in July 2024 — a probationary stage during which UK customer funds remained safeguarded as e-money, not FSCS protected — before the PRA lifted those restrictions in March 2026. Revolut is migrating its roughly 13 million UK customers to the fully protected entity in phases, so it’s worth confirming your own account’s status rather than assuming.
Revolut FSCS Protection — Key Facts
| Detail | Status |
|---|---|
| FSCS protected? | ✅ Yes, once migrated to Revolut Bank UK Ltd |
| Protection limit | £120,000 per person (industry-wide limit since 1 Dec 2025) |
| Legal entity | Revolut Bank UK Ltd |
| Restricted licence granted | July 2024 (mobilisation phase) |
| Restrictions lifted / full licence | 11 March 2026 |
| Regulated by | PRA + FCA |
| Applies from | Phased migration — check your app for your own status |
Before March 2026 — What Was Different?
Between July 2024 and March 2026, Revolut held only a restricted banking licence and was in the PRA’s “mobilisation” phase — a standard probationary period for new banks, during which total deposits in the banking entity were capped and full banking services could not yet be offered. Throughout this period, and before it, Revolut UK operated primarily as an e-money institution (EMI) regulated by the FCA but not by the PRA. As an EMI:
- Your money was not FSCS protected
- Instead, Revolut was required to safeguard your funds — holding them in a segregated account at a regulated bank, separate from Revolut’s own money
- In the event of Revolut’s insolvency, safeguarded funds were ring-fenced, but the recovery process was less clear and less guaranteed than FSCS
This was a legitimate concern for customers keeping large balances with Revolut. The full banking licence, effective from March 2026, resolves this for accounts that have been migrated to Revolut Bank UK Ltd. For a full account of how e-money safeguarding differs from FSCS protection, see E-Money vs Bank Accounts UK.
How to Confirm Your Account Has FSCS Cover
- Open the Revolut app
- Go to Profile (or the account menu)
- Check Settings → Account → Legal information
- Look for the account-holding entity
If you see Revolut Bank UK Ltd, your eligible deposits are FSCS protected up to £120,000. If you see Revolut Ltd (the e-money entity), your account has not yet been migrated — your funds are safeguarded, not FSCS protected — contact Revolut support to check your migration timeline.
What the £120,000 Limit Means
The FSCS protects up to £120,000 per person per banking licence (raised from £85,000 on 1 December 2025 — this applies to all UK banks, not just Revolut). This means:
- If you have £120,000 or less with Revolut Bank UK Ltd, the entire amount is protected
- If you have more, only the first £120,000 is protected — the excess is not
- The £120,000 applies per institution — separate from your Monzo, Starling, or other bank balances
Temporary High Balance protection: If you have significantly more than £120,000 with Revolut temporarily — for example, following a property sale, inheritance, or redundancy payment — the FSCS provides enhanced protection under its Temporary High Balance scheme for up to 6 months. This applies automatically; you do not need to register. Check the current temporary limit on the FSCS website, as it is reviewed separately from the standard deposit limit.
Are Revolut Savings Vaults FSCS Protected?
Yes, but through a different structure to your main account. According to Revolut’s own help pages, Savings balances continue to be provided by Revolut Ltd (the e-money entity, not Revolut Bank UK Ltd) and the underlying cash is placed with third-party partner banks. Your Vault balances are FSCS-protected up to £120,000 per person, per partner bank — assessed separately from your Revolut Bank UK Ltd current account balance, not simply added to it. See Revolut Savings Account UK 2026 for more detail, and always check the current partner bank(s) shown in the app.
Revolut vs Monzo vs Starling — Deposit Safety Comparison
| Bank | FSCS protected | Since | Limit |
|---|---|---|---|
| Revolut Bank UK Ltd | ✅ Yes (phased migration) | March 2026 | £120,000 |
| Monzo | ✅ Yes | 2017 | £120,000 |
| Starling | ✅ Yes | 2016 | £120,000 |
| Chase UK | ✅ Yes | 2021 | £120,000 |
All four are now fully FSCS protected at the current £120,000 industry limit. Monzo and Starling have held banking licences significantly longer than Revolut, and unlike Revolut, all their UK customers have been on fully protected accounts throughout — Revolut’s migration is still rolling out in phases.
Is It Safe to Keep Large Balances with Revolut?
For accounts already migrated to Revolut Bank UK Ltd, keeping up to £120,000 with Revolut is as safe as any UK bank. If your account is still showing as Revolut Ltd, treat it as an e-money account for safety purposes until it migrates. For a full assessment of Revolut’s features, fees, and limitations, see the Revolut UK Review 2026. Above £120,000, spread funds across multiple institutions (each with their own £120,000 allowance) to ensure full coverage.
Considerations beyond FSCS:
- Account freezes: Revolut has a history of freezing accounts while conducting compliance checks. This is a legal obligation, not specific to Revolut, but it has been more common than with Monzo or Starling. If your account is your sole financial resource, this is a risk.
- Customer service: Resolving disputes can be slower with Revolut than with banks offering phone support. For very large balances, a bank with 24/7 phone support (Starling, First Direct) may be preferable as a primary account.
- Practical recommendation: Once your account shows as Revolut Bank UK Ltd, holding a working balance with Revolut (up to £120,000) is safe. For larger wealth, diversify across institutions regardless.