How Safe is Your Money in Revolut? Understanding Risks and Security

Discover the safety of storing large sums in Revolut and learn about e-money protection.

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Yes, you can keep a significant amount of money in Revolut. However, be aware that Revolut is an e-money institution, not a bank, so funds are not protected by traditional deposit insurance, like the FSCS in the UK. For large sums, it’s prudent to consider spreading your money across different institutions to mitigate risk.

FAQs & Answers

  1. Is my money safe in Revolut? Revolut is an e-money institution, and while it offers many financial services, funds aren't protected by traditional deposit insurance.
  2. How much money can I keep in Revolut? You can keep a significant amount, but it's wise to diversify across different institutions for better security.
  3. What is the difference between e-money institutions and banks? E-money institutions like Revolut do not offer the same level of deposit protection as banks, which should be considered when storing large sums.

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