Revolut is changing its fee terms. Those who are not satisfied can delete their account
Revolut has made changes to its Trading Terms, which came into force with immediate effect. At the end of May, the table of fees and payment terms will also be updated.
Revolut Securities Europe UAB announced the introduction, with immediate effect, changes in the Transaction Terms. Additionally, the company announced that from May 27, 2024 will come into force updated fee table and payment terms. Consent to these changes does not require any action by Revolut customers.
Changes to the Regulations of Revolut Securities Europe UAB?
Revolut is making some changes to its Terms and Conditions which can be summarized as follows:
- Revolut has changed its fee schedule and payment terms to clarify how it calculates and collects commissions for orders placed on your account. The commission will be charged based on the price of the tradable assets (called instruments) at the time of transactionand not based on the price at the time the order was placed.
- As more assets are added to Revolut's offer, the website changes the minimum order value for some of them. Minimum order values can be checked on the investment platform (section 4 of the Trading Terms).
- Revolut is legally obliged to assess the suitability of complex tradable assets for the customer. The Company has amended Section 10 of the Trading Terms to clarify the purpose and other details of this review.
- Revolut has updated Section 16 of its Trading Terms to clarify that it will send an annual email to customers reminding them of their Investor Insurance protection.
- Revolut has also made some changes to the Trading Terms related to the introduction of new products and features on the investment platform. In addition, it has made some minor corrections to make the Trading Terms more understandable to customers.
What if I don't like the changes?
If someone is not satisfied with the changes to the Transaction Terms, this one may close your account without incurring additional costs. The lack of information sent to Revolut about the lack of consent to the changes means that they have been accepted and take effect from the moment of receiving the message about the changes sent by Revolut. The updated fee schedule and payment terms will enter into force on May 27 this year.
The updated Regulations (in English) are available at this address.
