Important T&Cs are changing
What's changed?
We used to use 'real exchange rate' to describe our currency exchange rates. We now understand that the concept of the ‘real’ rate could be open to interpretation, and may mean different things to different people.
From today, we’ll describe our rate as the 'Revolut exchange rate' for currency exchanges. This exchange rate is set by us, and is dynamic as it reflects real-time market changes.
We’ve also updated the section of our T&Cs that deals with how we can recover money you owe us – for example, if your e-money account balance is negative, or if you owe us fees or any other amount.
Our updated T&Cs say that:
· We can take the amount you owe us from any money we're due to pay to you including any other account you have with us – either in your own name or jointly, and
· We can do this at any time without notice or without asking you,
· There are some additional steps we can take to recover money you owe us like informing fraud prevention agencies (where we’re permitted to do so), and selling, transferring or assigning the amount you owe us to a third party, and
· Where we take steps to recover money from you, we may also charge you additional fees
Please see section 28 of the updated Personal T&Cs for more information. If you're experiencing financial difficulties please reach out to us via in-app chat for support.