Is your money safe with Revolut? What Irish users need to know

Revolut is used by 3.1 million people in Ireland, and over 60 million people globally.¹ If you’re considering opening a Revolut account, it’s important to know if Revolut is safe to use.

With Revolut you can hold multiple currencies, send payments abroad, receive money from others, spend with a debit card and more. But is your money safe in Revolut, is Revolut safe to send money to other people overseas, and is a Revolut card safe for day to day spending?

This guide covers all you need to know about Revolut safety in Ireland - plus we’ll touch on how another provider - Wise - keeps customers safe with a powerful international account and card you can use for secure transactions around the world.

Discover Wise in Ireland 💡

Is Revolut safe in Ireland?

Let’s kick off with the most important point if Revolut is safe to use.

It’s natural to wonder how safe is Revolut, and you should certainly do your homework about any financial service you may use, to check they're legit.

As with any financial service provider, you’ll need to take common sense precautions when using Revolut, such as keeping your log in information and passcodes safe, and regularly reviewing your transactions - but in general you can rest assured that Revolut Ireland is safe to use.

Revolut operates in Ireland under a banking license issued by the Bank of Lithuania which allows it to provide services throughout the EU. It’s also covered by other major regulatory bodies, such as the FCA in the UK, although it may not have full banking licenses in other jurisdictions.²

Is your money safe in Revolut?

So, is Revolut safe for holding money?

It’s helpful to know a bit about the way that EU banking licenses work. One important point is that banks which hold a banking license must follow very strict rules about protecting customer money, including ‘safeguarding’ customer funds.⁵

This requires banks to segregate customer money from their own operating funds, and to protect deposits under a deposit insurance scheme.

As Revolut is a regulated bank, your eligible deposits are covered by the Lithuanian Deposit Insurance scheme. This means that eligible deposits up to the value of 100,000 EUR (the legal maximum), are protected.³ In the unlikely event that Revolut went bankrupt, depositors are protected to this level.

So if your key question is: is it safe to keep money in Revolut? Again, the general answer is, yes. To the full extent of the law, your deposits are protected.

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to legal or financial advice on which you should rely.

Revolut security features: Is it safe to use the account?

Of course, safety isn’t just about licensing and regulation. Providers like Revolut also build in high levels of security features throughout their apps, websites, and processes. As Revolut is a digital first business, you can expect industry level safety features for your account, which can include:

• Verification process on application: you’ll need to provide ID documents when you apply, which prevents illegal use of accounts
• Biometric security: even if your phone is stolen or you log in with a new device, you’ll still need to pass the security test to access your account
• Ways to personalise your security settings: such as location-based triggers to prevent account use in certain places, and gambling blocks
• Encrypted chats and ways to hide your identity when making a payment
• Machine learning anti-fraud measures: if the Revolut algorithm suspects a transaction is fraudulent it can be frozen until you verify it
• The Revolut Secure shield: this monitoring system and team operate 24/7 and send customers fraud or scam warnings if anything looks amiss with accounts
• 24/7 customer support if you ever experience problems or have questions

In short, Revolut offers many measures that aim to ensure accounts can only be set up and operated by legitimate customers, then runs manual and automatic processes to detect and prevent fraud, and offers support 24/7 if you ever need help.² ⁴

Is Revolut card safe?

All Revolut Ireland accounts offer a linked debit card, which also has a whole host of measures built in, aimed at keeping customers safe as they spend. Revolut card safety measures include:

• New cards must be activated in the Revolut app - you’ll also find your PIN here, so your card can’t be used if it’s intercepted in the post
• Freeze and unfreeze your card in the app if you don’t plan to use it for a while
• AI models look out for potentially fraudulent transactions and freeze cards if something looks off - you can unfreeze the card in the app once you’ve checked it
• Use self destructing virtual cards which are only available for one transaction, for an added level of protection when spending online
• Two-factor authentication is available as standard on card transactions, but you can also label certain merchants as trusted so the extra step isn’t needed
• Unauthorised transactions may be covered by VISA and MasterCard’s liability protection, depending on the circumstances

🔎 But note: As with any debit card, you do need to keep your Revolut card safe in your end too.

Safely hold, send and receive money with Wise

Other providers like Wise also work hard to protect customers and ensure you can transact safely, stress free.

Wise isn't a bank, in Europe it’s a regulated payment institution, registered in Belgium and authorised by the National Bank of Belgium, and has 65+ licences globally.

Wise Europe has put specific measures in place, to make it safe for the transactions you can make with a Wise Account. When it comes to holding your money, all customers' funds are safeguarded with trusted institutions, separate to Wise’s operating funds . This means it would be available even in the unlikely event the business got into financial stress.

Some other important Wise safety features include:

• Wise operates a strict verification and onboarding process which requires ID checks, and which can all be completed online or with your phone
• Accounts are secured with 2 step authentication and biometric security features
• Over thousands of anti fraud specialists operate round the clock to keep accounts safe, running 7 million checks a day to stop thieves
• You can customise your account controls to add in levels of protection which you're comfortable with and automatically logging out after use, for example
• Debit card spending generates an automatic notification so you can keep track with your phone - and you can freeze and unfreeze your card with the app if you choose to
• Virtual cards are available which add in additional protection when spending online with a new retailer
• Wise customer support is available 24/7 in English, and 14 other languages are supported.

Register with Wise today 🚀

Sources used:

Sources last checked on date: 8th August, 2025