Revolut

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Revolut is a global financial technology company headquartered in London and founded in July 2015 by Nik Storonskiy and Vlad Yatsenko. As of March 2026, Revolut has over 70 million customers and supports transfers across more than 160 countries and regions. It was valued at $75 billion in November 2025. Its services include bank accounts, debit cards, credit cards, currency exchange, stock trading, cryptocurrency exchange and peer to peer payments.

Revolut

Basic Information
Release Year
Product Type	Digital Banking
In Production
Official Website	https://revolut.com

Consumer-impact summary

Forced app download

The web experience cannot be used to make purchases, but only to check account balance, limited transaction history, control cards freezing, PIN lock, and other card security settings. This effectively forces the user to make use of the mobile app.

Freemium with personal data concerns

Revolut earns money from subscriptions plans to access extra features. Most prominent being bigger withdrawal limits and travel insurance. Regardless of subscription status, Revolut optionally suggests that customers link their bank accounts to "give a complete picture of your spending and saving." While this access is read-only, it poses serious privacy concerns. Financial services are required by law to implement extensive Know Your Customer (KYC), but the issue of extracting more information than needed reflects a broader trend in the digital industry to lure customers into free services where sharing their personal information becomes the revenue strategy, effectively forcing unknowing customers to "pay with their data". Data which includes:

• Phone number
• Date of birth
• Email address
• Full legal name
• Home address
• Aircode
• ID
• Microphone permissions without disclosure as to why

Further data Collected:

• "details of the device you use (for example, your phone, computer or tablet)"
• IP address
• Browser type and version
• Time zone setting
• Device language
• Operating system and platform
• Type of device used
• Whether a virtual private network (VPN) is used
• A unique device identifier
• Mobile network information
• Mobile operating system
• Type of mobile browser you use
• Links clicked on the website or Revolut app (including date and time stamp)
• Length of visits to certain pages
• Page interaction information (such as scrolling and clicks)
• Methods used to browse away from the page
• Types of apps and other metadata about the device
• Information from devices contacts list
• Behavioural biometric data
• Detailed device settings
• GPS location

Incidents

This is a list of all consumer-protection incidents this company is involved in. Any incidents not mentioned here can be found in the Revolut category.

App explicitly blocked on Android ROMs claiming data security reasons (2024 - Present):

Main article: Revolut blocked access for users with custom OS

In November 2024, Revolut pushed an update that removed support to users with custom OS on their device. The change was announced through an in-app message, which was shown after a user tried to log in. The change also affected users whom already had an account and funds at the Company.

Revolut verify ID email spam

Main article: Revolut verify ID email spam

When a customer does not complete their account setup Revolut sends them emails to pressure them to finish account setup.

Revolut blocking Lyca Mobile automated payment blocking

Main article: Revolut blocking Lyca Mobile automated payment blocking

Revolut explicitly disables the option to end automated payments to Lyca Mobile

Repeated failure to prevent fraud

Revolut has a repeated history of being one the most frequently named financial institutions in UK fraud complaints. The number of complaints of fraud reported to Action Fraud, the UK reporting centre for fraud and cybercrime, by Revolut customers rose from 567 in February 2023 to 1,086 for February 2024. According to the Financial Ombudsman Service (FOS), it issued 3,458 fraud and scam-related 'views' to Revolut and its customers in 2023 surpassing any other provider. These issues arose in spite of the efforts in to combat fraud, by doubling the number of employs tasked to deal with the matter between 2021 and 2023.

Furthermore these issues spark concerns surrounding the aforementioned extensive data collection not being effective in preventing fraud.

See also

• Chase Bank
• PayPal