How to close your Revolut account for good

Have you opened a Revolut account but then never used it? Or have you been using it but apparently would prefer simpler solutions for your needs? Do you want to know how to close that Revolut account and what are the alternatives? If your answer to any of these is ‘yes’, then read our detailed guide on how to terminate your Revolut account (and never regret it!)

What is Revolut?

Launched in 2015 as an app for cheaper payments abroad, Revolut since then has evolved into one of the largest fintech ecosystems globally (read our honest Revolut review here). It holds several banking licences, is present in over 200 destinations, and as of 2024, has over 50 million retail customers worldwide.

A Revolut account offers tiered subscriptions with the basic one (Standard) being free. Depending on the tier and some other factors such as location, today, its services include but are not limited to:

• Revolut bank accounts and cards. Explore how Revolut works in Ireland here.
• Loans
• Currency exchange
• Money transfers
• Saving ‘vaults’, and so on.

On Trustpilot, an independent user review platform, Revolut has an ‘Excellent’ rating (4.5/5). It is praised for its various services and features, speed of transactions between Revolut accounts, and convenience when used abroad. At the same time, 10% of users are disappointed with sudden Revolut account closures, inefficient customer support, extra charges, and so on.

Moreover, in 2023, the company received the most fraud and scam complaints in the UK market, which were submitted to the Financial Ombudsman Service.

Are you disappointed in the service and want to know how to terminate your Revolut account? Or have you simply found a more convenient alternative for your needs? If for whatever reason you are wondering how to close your Revolut account, read on for a step-by-step guide on Revolut account deactivation/closure.

How to close a Revolut account

If you have decided to terminate your Revolut account, you need to do some preparatory work to meet certain requirements.

• You can close your Revolut account only if the latest version of the Revolut app is installed on your device, so make sure you first update the app and only then move on to your Revolut account deactivation.
• Looking at how to close a Revolut account if you are on one of the paid plans also involves downgrading your subscription to Standard first.

Once you have updated your app and switched to the Standard Revolut account, you need to clear all your accounts, pockets, and vaults and resolve any pending transactions. In other words, to close your Revolut account, its balance must be zero. Here, the following issues may arise while preparing for your Revolut account deactivation:

• There is still some money in your Revolut bank account, but the balance is insufficient for an outbound transfer. In this case, you can add the funds up to the minimum required amount, transfer your remaining funds to another Revolut account holder, or donate them by selecting one of the options in the app.
• The balance of your Revolut bank account shows as negative. This can happen due to a delayed/duplicated payment, higher than initially expected final costs of a transaction, or insufficient funds to cover paid subscription fees. How to close a Revolut account in this case? Add the amount necessary to set off the balance before proceeding to your Revolut account deactivation.

In addition, go through any other services that might be linked to your Revolut bank account and make sure that there are no active subscriptions, insurances, or <18 accounts. If you hold an investment Revolut account, it must be closed.

In the case of a Revolut joint account, it can be closed by either of the holders.

Other things to keep in mind before your Revolut account deactivation:

• Save any financial documents you might need in the future for your personal bookkeeping or tax purposes. Once you have terminated your Revolut account, you will no longer have access to any records.
• See if you have any recurring payments linked to your Revolut bank account, such as your subscriptions to streaming services or loan instalments. If you do, transfer them to another account to ensure uninterrupted service.
• Inform anyone who sends you money about your Revolut account closure and provide them with up-to-date payment details.

How to close a Revolut business account

The procedure is similar to Revolut personal account deactivation described above, but there are some differences.

• There are no free-of-charge plans to downgrade to.
• To close a Revolut business account, you must be its owner.

How to terminate a Revolut account in the app

• Revolut personal accounts: Profile icon (top-left corner) -> Account -> Close account
• Revolut joint accounts: Joint -> More -> Close joint account
• Revolut business accounts: Account name (top-left corner) -> Settings -> Account & documents -> Close business account -> Select the reason for your Revolut account closure.

How to close a Revolut account without the app

If, for any reason, you no longer have access to the Revolut app, contact Customer support at support@revolut.com. You will still need to clear your accounts, though, so make sure you also request a transfer of funds in the same email.

How much does it cost to close a Revolut account?

A Revolut account closure itself is free. However, while preparing to terminate your Revolut account, you may need to perform fee-based transactions. Examples include withdrawing your remaining balance to a bank account, selling cryptocurrency, or converting other currencies to euros. The fees will depend on your subscription plans, the currencies involved, and some other factors.

How to close a Revolut account and open a new one

Each customer can have only one Revolut personal account. However, if you have initiated and successfully completed your Revolut account deactivation, nothing prevents you from opening a new one in the future.

In some cases, you may try and reopen a Revolut account you have closed yourself. Be prepared to reach out to the in-app Customer support with your ID documents at hand (type ‘Live agent’ in the chat to initiate communication with an employee and not a bot).

Keep in mind, however, that if it was the company that closed your Revolut account, you cannot reopen it.

Revolut account closure and personal data

Unsurprisingly, Revolut collects tons of personal data about its customers, from personal details to location to information from publicly available sources including social media. The company retains this data for both its own purposes, like marketing or service improvement, and in line with respective (such as anti-money laundering) laws and regulations.

The period of retention varies depending on the country. In Europe, the general guideline is up to 7 years for customers in the UK and up to 10 years for those in the EEA after the Revolut account closure.

If you are wondering how to close a Revolut account with as little data retained as possible, it would be the easiest for European customers who are protected by the GDPR. For example, they have the right to ask Revolut to delete their data, but even in this case, the company “may not be able to agree to [their] request”.

Revolut-initiated blocks, restrictions, and deactivations

Your account can be suspended or closed by Revolut for various reasons, such as insufficient or outdated proof of your identity or income. In such cases, the simple answer to the question of how to terminate your Revolut account is as follows: do not provide the documents requested by Revolut.

The company promises to notify its customers about potential closure via email at least 60 days in advance. However, there are cases where Revolut closed accounts without any warning. In the UK, where it has held a banking licence since 2024, it now only needs a reason, not a ‘good reason’, to terminate Revolut accounts.

Viable alternatives

A Revolut bank account comes with a wide range of services, but you might not require all of those. For example, if you need a European bank account as a non-resident, you can simply open one with a bank following this detailed guide.

If you are an expat living in Europe who needs to send money internationally, there is a selection of simpler and much more elegant solutions. Probably the best is Profee, a licensed online money transfer service that delivers your money from the UK and Europe to more than 90 destinations worldwide instantly, securely, and at the lowest cost.

Thanks to its in-house monitoring system Profee offers one of the most favourable currency exchange rates on the market as well as very low (if any) fees, which helps its customers to save on remittances. They can even earn money by inviting friends to Profee through its generous referral programme.

So, if you are looking at how to close your Revolut account but still need to send money abroad, get the Profee app or visit www.profee.com to get the best service possible.