Revolut offers a savings feature known as Instant Access Savings, which allows users to set aside funds and earn interest on their balance. The account is accessible via the Revolut app, with no minimum deposit required, and users can deposit or withdraw money at any time without fees. Interest is accrued daily and paid monthly, with rates varying based on the user's subscription plan. As of September 2025, the highest available Annual Percentage Yield (APY) is 5.50% for Metal plan users on balances up to $10,000 in the U.S. High-Yield Savings account, while Standard plan users earn 4.00% APY on the same account type. For other savings accounts, rates range from 3.25% to 4.00% APY depending on the plan.
In the UK, Revolut’s savings accounts are powered by ClearBank, which provides Financial Services Compensation Scheme (FSCS) protection of up to £85,000 per person per depositor. In the U.S., savings services are provided by Cross River Bank, a Member FDIC institution, offering deposit insurance up to $250,000. Revolut does not operate as a bank and is not covered by the European Deposit Guarantee Scheme, which limits protection to €100,000 in some regions.
Users can manage their savings through features such as recurring transfers, automatic round-ups, and goal-based saving tools. The maximum combined balance across all savings accounts is capped at $250,000 per user in the U.S., and only one High-Yield Savings account is permitted per customer. Interest rates are variable and may change at any time, with users receiving at least 14 days’ notice for rate decreases. The interest is calculated based on the end-of-day balance and paid gross (before tax), with users advised to seek professional tax advice regarding their individual circumstances.
Revolut’s savings accounts are integrated with other financial tools, including budgeting, spending analytics, and investment options, providing a comprehensive digital finance ecosystem. The service is available to users in multiple countries, though availability may vary by region.
I was excited to open a Revolut account to put my savings into and generate interest, after recommendation from a friend. However, then I opened Reddit to investigate for potential tips etc and all I found were horror stories about getting your account blocked, etc and having little to no assistance at all from Revolut. Even the top post right now on the sub is from someone almost getting their account cleared and receiving no assistance from Revolut.
Now I'm of course a lot more hesitant. I have about 10k saved up. That's all I have to my name. If I lose that I lose all I have. I don't need Revolut to pay for stuff, just to save or invest.
Is it truly as bad as Reddit makes it seem? Would you avoid using it for big lumps of money like this?
The thing is that Revolut offers better options than other more established banks in my country, that's why I was inclined to it. Now I'm not so sure anymore.
I'm based in Europe by the way, in case it's relevant.
New Revolut Savings Accounts
Is Revolut safe for savings?
revolut savings
Does anyone have any experience with Revoluts savings account? I have a metal plan
How much does it cost to get a Revolut account?
Revolut offers several plans and the cost of running your account varies depending which one you choose.
Revolut Standard, for example, is free to open and there are no monthly operating fees. The first physical debit card is free (although a delivery fee applies). Any additional physical debit card costs £9.99.
The Revolut Plus account costs £3.99 to operate. Again, the first physical debit card is free, although a delivery charge applies.
Revolut Premium costs £7.99 per month and there’s a one-off payment of £9.99 for a physical debit card.
Revolut Metal account costs £14.99 per month and a physical debit card (which is made of solid reinforced steel) costs £39.99.
Revolut Ultra costs £55 per month, with a one-off payment of £49.99 to get a physical (platinum plated) debit card.
Plus, Premium, Metal and Ultra account holders are not charged for additional debit cards.
Can I use Revolut like a normal bank?
Revolut has a UK banking licence. While it’s still in a mobilisation period, it offers some everyday banking services including setting up direct debits, making payments, bank transfers, and cash withdrawals.
Is Revolut worth getting?
Revolut’s standard account could be an ideal choice for regular travellers. That’s because you can use the same card and account to spend in more than 36 currencies in the app depending on your destination – and pay no foreign transaction fees on your spending.
Revolut also offers budgeting tools and free currency transfers when made to other Revolut customers.
However, it may not be the best option for customers in search of an everyday bank account.
Currently, it does not offer a full range of banking services such as an overdraft facility or the option to pay into your account using cash and cheques.
And since Revolut is a digital-only provider, there are no physical branches if you favour in-person support.
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So Revolut just opened their savings offerings here. Seems to offer better rates than the banks here (not hard). I’m tempted, but just wondering if I’d be better off investing in a different currency?
As you can see here, the %APY is higher in GBP and USD. I know you’d have to be wary of currency fluctuations, but is that enough of a deterrent do you think? Am I better off just sticking to Euro?
Also if anyone has any idea how this compares to something like Trade Republic I’d be grateful also, I really need to start doing something with my money instead of leaving it in a current account!