Revolut crossed a major threshold in March 2026: the Prudential Regulation Authority lifted its “mobilisation” restrictions and Revolut Bank UK Ltd became a fully licensed UK bank. In plain terms, eligible deposits held with the UK bank entity are now protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person — a genuine shift from Revolut’s e–money origins, where your balance sat in safeguarded accounts with no FSCS cover. That change matters if you’re thinking of using Revolut for your salary, savings or travel money. Below we break down the five UK plans — Standard, Plus, Premium, Metal and Ultra — the real fees, the savings rates, and whether any of the paid tiers earn their keep in 2026.
Revolut UK at a Glance
- UK banking licence granted March 2026 — eligible deposits FSCS–protected up to £120,000 per person
- Five plans: Standard (free), Plus (£3.99/mo), Premium (£7.99/mo), Metal (£14.99/mo), Ultra (£55/mo)
- Savings: roughly 2.9% AER (variable) on Standard rising to around 4.0% on Ultra, with a 5% boosted rate promotion for new customers in mid–2026
- Regulated by the FCA and PRA; covers Apple/Google Pay, virtual cards, 30+ currency wallets, joint accounts, plus stocks and crypto trading
- No branches — an app–first bank, so cheque deposits and over–the–counter cash are limited
Rates, fees and plan benefits change frequently and vary by currency and balance, so always confirm the current figures in the app or on Revolut’s pricing pages before signing up. The figures below were checked in June 2026.
Revolut Plans Compared
| Plan | Monthly Fee | Free FX / month | Free ATM / month | Headline Savings AER | Travel Insurance |
|---|---|---|---|---|---|
| Standard | Free | £1,000 (then 1%) | £200 | up to ~2.90% | None |
| Plus | £3.99 | £3,000 (then 0.5%) | £200 | up to ~3.00% | Purchase & ticket protection |
| Premium | £7.99 | Unlimited | £400 | up to ~3.25% | Worldwide medical & baggage |
| Metal | £14.99 | Unlimited | £800 | up to ~3.40% | Premium + winter sports |
| Ultra | £55.00 | Unlimited | £2,000 | up to ~4.00% | Plus airport lounges & perks |
Revolut Standard: Is the Free Plan Enough?
For most UK users, yes. The free Standard plan gives you a contactless debit card, a UK sort code and account number, free UK transfers, £1,000 of fee–free currency exchange a month at the interbank rate (Monday to Friday), and £200 of fee–free ATM withdrawals worldwide. Exchange above the £1,000 cap carries a 1% fair–usage fee, and there is a 1% surcharge at weekends. Crucially, Revolut’s Standard savings rate is now competitive — around 2.9% AER (variable) rather than the rock–bottom figures of a few years ago — though it still trails the best easy–access cash ISAs. For a fee–free travel card and a capable secondary current account, Standard is hard to beat at £0.
Revolut Plus and Premium: The Sweet Spot for Most
Plus (£3.99) is an easy upgrade if you exchange a lot of currency: it lifts the free FX allowance to £3,000 a month, halves the weekend surcharge to 0.5%, and adds purchase and ticket protection. Premium (£7.99) is where Revolut becomes a serious travel proposition — unlimited fee–free FX, no weekend surcharge, £400 of free ATM withdrawals, worldwide travel insurance (medical and baggage), and a higher savings rate. The break–even on Premium is roughly two to three short–haul trips a year once you factor in the single–trip travel insurance (typically £15–£25 each) you’d otherwise buy.
Revolut Metal: Worth It for Frequent Travellers?
Metal (£14.99) layers on a metal card, winter–sports cover on top of the Premium travel insurance, a higher savings rate (around 3.4% AER) and richer cashback and rewards on eligible spending. It makes sense if you ski annually or spend heavily abroad; for an occasional traveller, Premium does most of the same job for around half the price.
Revolut Ultra: Premium Account or Indulgence?
Ultra costs £55 a month (£540 a year if paid annually) and bundles the top savings rate (around 4.0% AER), unlimited access to more than 1,000 airport lounges worldwide, around 3GB of monthly global eSIM data, and a stack of partner subscriptions and lifestyle perks that Revolut headlines at several thousand pounds of value. For someone who would otherwise pay separately for a lounge membership such as Priority Pass and a high–rate savings account, Ultra can wash its face. For everyone else, Premium delivers the bulk of the practical benefit at a fraction of the cost — treat the headline “perks value” figure as marketing, not money in your pocket.
Revolut Savings: How Does It Compare?
Revolut’s Instant Access Savings pays interest daily with no notice period. In 2026 the rate scales with your plan — roughly 2.9% AER (variable) on Standard up to around 4.0% on Ultra. There’s also a periodic promotional boost: in mid–2026 Revolut advertised a 5% AER (variable) rate for new customers on balances up to £25,000, running for a fixed promotional window before reverting to the standard plan rate. Two caveats matter. First, this interest is taxable above your Personal Savings Allowance (£1,000 for basic–rate, £500 for higher–rate taxpayers), whereas a cash ISA shelters all interest. Second, the underlying balance in some savings products may sit in a money–market fund rather than a deposit account — check whether your specific savings pot is an FSCS–protected deposit or an FCA–safeguarded investment.
Is Revolut Safe? FSCS and Your Money
Since March 2026 Revolut Bank UK Ltd is a fully authorised UK bank, regulated by the FCA and PRA, with the PRA having lifted its mobilisation limits. Eligible deposits held with the UK bank entity are now covered by the FSCS up to £120,000 per eligible person — the standard UK protection limit. This is a meaningful upgrade on Revolut’s previous e–money model, where funds were merely safeguarded in segregated accounts with no compensation scheme behind them.
Two things to keep in mind. Not every balance is a protected deposit: money in stock and crypto wallets, commodities, and certain money–market savings funds is held under FCA safeguarding or custody rules, not FSCS deposit protection. And existing customers were migrated to the new bank entity progressively through 2026, so it’s worth confirming in–app that your account sits with Revolut Bank UK Ltd. If protected–deposit certainty is your priority, hold cash you can’t afford to lose in the FSCS–eligible current or savings deposit, not in an investment product.
How We Assessed Revolut
This review weighs the things that actually move the needle for UK households: the real cost of each plan against what you get, the fee structure on everyday and overseas spending (FX allowances, weekend surcharges, ATM limits), the savings rate net of tax, and the regulatory protection behind your balance. We cross–checked plan pricing, FX and ATM allowances and savings rates against Revolut’s own pricing and legal fee pages and independent UK comparison sources, and we treat headline “perks value” numbers sceptically — what matters is the benefit you’ll genuinely use. Because rates and benefits change often, we flag figures as indicative and direct you to confirm the live numbers before committing.
How to Decide Which Plan You Need
- Occasional spender, want a free travel card — Standard. £1,000/month free FX covers most holidays.
- Exchange £1,000–£3,000 a month or spend at weekends — Plus, for the bigger allowance and halved weekend fee.
- Travel two or more times a year — Premium. Unlimited FX plus travel insurance usually beats buying single–trip cover.
- Ski annually or spend heavily abroad — Metal, for winter–sports cover and a higher savings rate.
- Frequent flyer who’d pay for lounges anyway — Ultra, only if you’ll truly use the lounges and top savings rate.
Revolut Pros and Cons
| Pros | Cons |
|---|---|
| Excellent multi–currency travel card | Customer service can be slow on the free plan |
| FSCS–protected deposits since March 2026 | Weekend FX surcharge of up to 1% on lower tiers |
| Competitive, daily–paid savings rates | Top savings rate only on the £55/mo Ultra plan |
| Slick app, instant card freeze & virtual cards | No branches; limited cheque and cash handling |
| Stocks and crypto built in | Some balances aren’t FSCS–protected deposits |
Frequently Asked Questions
Is Revolut FSCS–protected in 2026?
Yes. Revolut Bank UK Ltd became a fully licensed UK bank in March 2026, and eligible deposits are now FSCS–protected up to £120,000 per person. Funds in non–deposit products such as stock and crypto wallets or certain money–market savings funds are not FSCS–covered but are held under FCA safeguarding or custody rules.
Which Revolut plan is best value?
Standard suits most casual users. Premium (£7.99/mo) is the strongest paid plan for travellers, typically paying for itself within two to three trips a year through unlimited fee–free FX and travel insurance. Metal and Ultra only make sense if you’ll genuinely use the winter–sports cover, lounge access and higher savings rate.
What is the Revolut savings interest rate in 2026?
Standard savings pays around 2.9% AER (variable), rising to roughly 4.0% on Ultra, with rates varying by currency and balance. A 5% boosted rate for new customers on balances up to £25,000 ran during a mid–2026 promotional window before reverting to the plan rate. Interest is paid daily and is taxable outside an ISA.
Can I use Revolut as my main bank account?
Yes. Since March 2026 Revolut UK is a fully licensed bank with a sort code, account number, direct debits, standing orders and FSCS protection on eligible deposits. Many people still keep a high–street account for cheque deposits and over–the–counter cash, but for day–to–day banking Revolut works as a primary current account.
What are the downsides of Revolut?
The main drawbacks are weekend FX surcharges on the lower–tier plans (up to 1%), customer service that can be slow on the free plan, the top savings rate being reserved for the £55/month Ultra plan, and no branches or meaningful cash and cheque handling. Some balances also sit in non–deposit products that fall outside FSCS protection.
Last reviewed: June 2026.
This article is general information, not financial advice. Rates, fees and plan benefits change frequently — always confirm current figures with Revolut before acting.
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