Revolut became a fully licensed UK bank in March 2026, which means deposits up to £120,000 are now covered by the Financial Services Compensation Scheme. That’s a big shift from its e-money origins, and it changes the calculus on whether to keep your salary, savings or travel cash with the app. We’ve stress-tested the five Revolut UK plans — Standard, Plus, Premium, Metal and Ultra — to see which (if any) is worth paying for in 2026.
Revolut UK at a Glance
- UK banking licence granted March 2026 — FSCS protection up to £120,000
- Five plans: Standard (free), Plus (£3.99/mo), Premium (£7.99/mo), Metal (£14.99/mo), Ultra (£55/mo)
- Savings: up to 4.00% AER (variable) on Ultra, lower tiers on cheaper plans
- Customer satisfaction: 97% would recommend (2026 internal survey)
- Apple/Google Pay, virtual cards, currency wallets, joint accounts, stock and crypto trading all included
Revolut Plans Compared
| Plan | Monthly Fee | Free FX (per month) | Free ATM Withdrawals | Headline Savings AER | Travel Insurance |
|---|---|---|---|---|---|
| Standard | Free | £1,000 | £200 / 5 withdrawals | 1.50% | None |
| Plus | £3.99 | £1,000 | £200 | 2.00% | Purchase protection only |
| Premium | £7.99 | Unlimited | £400 | 2.50% | Worldwide medical & baggage |
| Metal | £14.99 | Unlimited | £800 | 3.00% | Premium + winter sports |
| Ultra | £55.00 | Unlimited | £2,000 | 4.00% | Plus airport lounges & concierge |
Revolut Standard: Is the Free Plan Enough?
For most UK users, yes. The free Standard plan gives you a Mastercard or Visa debit card, free UK bank transfers, £1,000 of fee-free FX per month at the mid-market rate (Mon–Fri), and £200 of free ATM withdrawals worldwide. The savings rate of 1.50 per cent AER is below the best easy-access cash ISAs, so don’t park serious savings there — but for a fee-free travel card and secondary current account, Standard is hard to beat.
Revolut Premium and Metal: Worth It for Travellers?
Premium (£7.99) and Metal (£14.99) are aimed squarely at frequent travellers. Both include unlimited fee-free FX, worldwide travel insurance and higher savings rates. The break-even point on Premium is roughly 2–3 short-haul trips a year (replacing standalone single-trip travel insurance at £15–£25 each). Metal adds a metal card, 1 per cent cashback on certain spending categories and winter sports cover. Useful if you ski annually; otherwise overkill.
Revolut Ultra: Premium Bank Account or Indulgence?
The Ultra plan costs £55 a month (£660 a year) and includes 4.00 per cent AER savings, unlimited airport lounge access (worth £400+ a year for frequent flyers), monthly global eSIM data, premium concierge, and access to Revolut’s lifestyle perks bundle (advertised at £4,290 of headline value). For genuinely frequent international travellers who’d otherwise pay for Priority Pass and a high-rate savings account separately, Ultra can pay for itself. For everyone else, Premium does 80 per cent of the work for 15 per cent of the cost.
Revolut Savings: How Does It Compare?
Revolut’s flexible savings (instant access, paid daily) ranges from 1.50 per cent on Standard to 4.00 per cent on Ultra. That puts Ultra savings in the same league as the best easy-access cash ISAs in 2026, but with one key difference: Revolut savings interest is taxable above your £1,000 personal savings allowance (£500 for higher-rate taxpayers), whereas an ISA shields all interest from tax.
Revolut Pros and Cons
| Pros | Cons |
|---|---|
| Excellent multi-currency travel card | Customer service can be slow on free plan |
| FSCS-protected since March 2026 | Weekend FX mark-up 0.5–1% on Standard |
| Slick app with budgeting tools | Highest savings rates only on Ultra (£55/mo) |
| Fast in-app card freezing & virtual cards | No physical branches |
| Stock and crypto trading built in | Cashback limited to higher tiers |
Frequently Asked Questions
Is Revolut FSCS-protected in 2026?
Yes. Revolut became a fully licensed UK bank in March 2026, and deposits held in a Revolut UK account are now FSCS-protected up to £120,000 per person. Funds held in non-banking products (such as the Flexible Cash Funds, stock and crypto wallets) are not FSCS-covered but are held in segregated accounts under FCA safeguarding rules.
Which Revolut plan is best value?
Standard is best for most casual users. Premium (£7.99/mo) is the best paid plan for frequent travellers, paying for itself with 2–3 trips a year through unlimited fee-free FX and travel insurance. Metal and Ultra are only worth it if you’ll genuinely use the lounge access, concierge and high savings rate.
What is the Revolut savings interest rate in 2026?
Revolut savings rates in 2026 range from 1.50 per cent AER (Standard) to 4.00 per cent AER (Ultra). Interest is variable, paid daily and credited monthly. Rates above £200,000 on Ultra fall to 3.51 per cent. All rates are 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 sort code, account number, direct debits, standing orders and full FSCS protection. Many users still keep a high-street account for cheque deposits and over-the-counter cash, but day-to-day Revolut works as a primary current account.
What are the downsides of Revolut?
The main drawbacks are weekend FX mark-ups on the free Standard plan (0.5–1 per cent), variable customer service response times, and the highest savings rates being locked behind the £55/month Ultra plan. Revolut also has no physical branches and limited cash-handling, which can be a problem if you regularly receive cheques.
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