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For UK customers, neither Revolut nor traditional banks can be declared the overall fraud-protection winner from the available official evidence. The answer depends on what happened: an unauthorised card or account payment, an authorised bank transfer made after an APP scam, a card purchase dispute, or concern about money being protected if a provider fails. Each event follows a different rule and claim route.
For eligible UK Faster Payments and CHAPS transfers made on or after 7 October 2024, Revolut and traditional banks operate within the same Payment Systems Regulator (PSR) reimbursement framework. Revolut publishes a higher provider-specific limit of up to £120,000 per eligible APP claim, compared with the PSR scheme baseline of £85,000. That higher cap does not prove that Revolut prevents more fraud or approves claims more often.
The short answer: compare the event, not the logo
“Fraud protection” covers several legally different situations. A thief using your card without permission is an unauthorised payment. A scammer persuading you to send a transfer is an authorised push-payment (APP) scam. A fake retailer taking a card payment may be handled through chargeback or, for some credit-card purchases, Section 75. Protection against a bank or e-money provider becoming insolvent is a deposit-protection question, not a fraud-refund question.
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What is actually comparable?
| Situation | Relevant protection | What the UK evidence establishes |
|---|---|---|
| APP scam using a covered transfer | PSR reimbursement framework | Applies to eligible UK Faster Payments and CHAPS transfers at banks, building societies, payment firms and e-money firms. The scheme baseline is up to £85,000; a provider may pay more. |
| APP scam under Revolut’s published UK policy | Provider terms within the framework | Revolut states up to £120,000 per eligible claim, a £100 excess and a 13-month reporting deadline. |
| Unauthorised account or card payment | Payment-services refund rules | The FCA says a refund should generally reach the account by the end of the next business day, subject to limited refusal grounds. |
| Card purchase from a scam or failed seller | Chargeback; possible Section 75 | Chargeback may be available. A credit-card purchase costing more than £100 and less than £30,000 may qualify for Section 75. |
| Provider failure | FSCS or safeguarding, depending on the entity and product | Specified eligible balances at Revolut Bank UK Ltd are stated to have FSCS cover up to £120,000 per eligible person. E-money safeguarding and non-bank products are different arrangements. |
These protections address different losses. For example, FSCS cover does not refund a transfer you sent to a scammer, and APP reimbursement does not decide whether an investment product is covered if its provider fails.
APP scams: the main comparison between Revolut and banks
What counts as an APP scam?
The PSR describes APP fraud as being tricked into sending money by bank transfer. You technically authorise the payment, but the recipient, purpose or circumstances were misrepresented. Common examples include a fake invoice, an impersonation call, a bogus investment opportunity or a message claiming that your account must be moved urgently.
The current reimbursement protections cover eligible payments made on or after 7 October 2024 through UK Faster Payments or CHAPS. They apply to individuals, microenterprises and charities. Card, cash and cheque payments are outside this particular route and have separate protections.
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The PSR’s consumer explanation makes the scope clear: “All types of payment firms, including bigger high street banks but also smaller payment firms, building societies, and e-money firms, among others, will be brought into the new reimbursement arrangements.” In practical terms, traditional banks are not outside the framework and Revolut is not operating under a wholly separate statutory standard for covered transfers.
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How the reimbursement caps differ
The PSR states a scheme maximum of £85,000 for a covered claim and says that figure covers more than 99% of claims. It also permits an individual provider to reimburse more than £85,000. Revolut’s UK eligibility information states a limit of up to £120,000 for an eligible claim. Present those figures as a baseline-versus-provider distinction: £85,000 is the PSR scheme amount, while £120,000 is Revolut’s published higher limit. It is not a universal £120,000 obligation for every UK bank.
Both the PSR framework and Revolut’s published terms allow a £100 excess in applicable cases. The PSR says an excess cannot be applied to a vulnerable consumer. Revolut says its customer standard of caution and excess exception can apply where it determines that vulnerability materially affected the customer’s ability to protect themselves. Keep records explaining any relevant vulnerability when you report the scam.
Eligibility details Revolut adds
Revolut says its eligible UK APP payments include transfers to UK account numbers and sort codes, as well as certain instant fiat transfers from one UK Revolut account to another. The transfer must otherwise fall within the policy and the customer must meet the stated eligibility conditions. Revolut also says a claim must be made within 13 months of the last suspected fraudulent transaction.
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A higher published cap is useful only if the payment is in scope and the claim is supported. It does not demonstrate a lower probability of being deceived, a stronger prevention system or a more favourable decision on disputed facts.
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Timing and the information you must provide
The PSR says a valid APP claim is usually reimbursed within five business days. A provider may pause that clock while it gathers information, but it must reach an outcome within 35 business days. Contact the provider as soon as you discover the scam, answer genuine requests for information and preserve the evidence used to establish what happened.
- Contact the sending provider immediately. Use the bank or payment service that sent the transfer, even if the recipient used another institution. Ask for the payment to be treated as an APP scam claim and request any urgent recall action.
- Give a precise timeline. Record when you were contacted, which channel was used, what you were told, the account details supplied, each payment amount and when you realised the deception.
- Preserve records. Keep messages, emails, call logs, screenshots, invoices, website addresses, account statements and notes of conversations. Do not delete the scammer’s instructions.
- Co-operate with proportionate questions. Respond to the provider’s requests and explain any vulnerability or circumstance that affected your ability to protect yourself.
- Report the crime. The PSR advises reporting to the police or consenting to the provider reporting it on your behalf. Keep the reference number.
- Track the deadline. If the provider has not reached an outcome within 35 business days, ask for a written explanation and the next escalation step.
- Escalate if necessary. The Financial Ombudsman Service may be available when you are unhappy with the provider’s decision or handling. Follow the provider’s final-response process and the ombudsman’s eligibility and time limits.
Unauthorised payments are a different claim
An unauthorised payment is one you did not authorise, such as a stolen-card transaction or an account takeover. That is different from an APP scam because the customer did not personally approve the transfer to the recipient.
The Financial Conduct Authority says you should contact your bank or payment service provider immediately. A refund should generally be made by the end of the next business day. A firm can refuse only in limited circumstances described by the FCA, including where you actually authorised the payment, acted fraudulently, or failed to protect card, PIN or password details in a way that enabled the payment.
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Card-purchase scams: chargeback and Section 75
Chargeback
If you paid a scam seller by debit or credit card, the FCA says you may be able to seek a refund through chargeback. Chargeback is a card-scheme process, so the evidence and deadlines depend on the card network and issuer. Contact the card issuer promptly, explain that the merchant did not provide what was promised or was fraudulent, and supply the order, correspondence and statement details.
Section 75
For a qualifying credit-card purchase costing more than £100 and less than £30,000, Section 75 of the Consumer Credit Act 1974 may provide a claim against the credit provider as well as the seller. The price threshold concerns the purchase, not necessarily the amount placed on the card. Ask the card issuer whether the transaction meets the legal conditions and provide the contract, receipt and evidence of breach or misrepresentation.
Neither chargeback nor Section 75 is the APP reimbursement route. If you paid by bank transfer, do not wait for a card dispute process; contact the sending payment provider under the APP procedure instead.
Revolut account status and deposit protection
When FSCS protection may apply
Revolut says specified eligible current, pocket, joint and other listed accounts held with Revolut Bank UK Ltd have FSCS protection up to £120,000 per eligible person. For a joint account, Revolut says the balance is divided between the account holders for this purpose. Confirm the exact account name and legal entity shown in your app or account documents before relying on the protection.
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When safeguarding is different
Some UK customers may still have e-money accounts while the banking service is rolled out. Revolut describes the funds in those accounts as safeguarded and says safeguarding no longer applies to accounts moved to Revolut Bank. Safeguarding and FSCS deposit protection are different arrangements; neither should be presented as a promise that a scam payment will be reimbursed.
Products outside the bank cover
Revolut says products not listed as eligible bank accounts—including crypto, commodities and stocks—are provided by other entities and are not covered by Revolut Bank UK Ltd’s FSCS protection. A traditional bank’s deposit protection also depends on the legal entity and product, so the same check is necessary there.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Does either provider prevent more fraud?
The official material does not establish that Revolut or traditional banks has a lower, exposure-adjusted fraud rate. The FCA’s 2024 Financial Lives survey found that 3.7% of UK adults—about 2.0 million people—reported APP fraud in the previous 12 months. That is a population survey, not a Revolut rate, a bank rate or a ranking. The FCA cautions that its 2024 survey used revised APP examples and questions, so year-to-year comparisons require care.
Raw complaint totals, social-media stories and the number of scam warnings shown in an app cannot be compared fairly without customer counts, transaction exposure, consistent definitions, comparable reporting behaviour and equivalent time periods. Marketing claims about artificial-intelligence monitoring, payment holds or in-app warnings likewise do not prove better outcomes.
You can still compare practical controls when choosing an account, but treat them as features rather than measured superiority. Check whether the provider offers clear recipient confirmation, configurable transfer limits, rapid in-app blocking, strong device authentication, a staffed urgent-fraud channel and transparent claim instructions. Ask how those controls affect legitimate payments and what happens if you are locked out during an emergency.
Choosing between Revolut and a traditional bank for your situation
If your main concern is an APP transfer
- Confirm that the payment will use a covered UK Faster Payments or CHAPS route.
- Read the provider’s current APP eligibility, cap, excess, vulnerability and reporting terms.
- For Revolut, note the published £120,000 cap, £100 excess and 13-month deadline; compare those terms with the bank’s own published policy rather than assuming every bank has the same cap.
- Keep a separate emergency contact route in case an app, device or phone number is compromised.
If you fear card theft or account takeover
- Prioritise immediate freeze and reporting functions, then rely on the unauthorised-payment rules.
- Use unique credentials, device locks and multi-factor authentication, and never disclose one-time passcodes to a caller.
- Review notifications and statements frequently so the next-business-day refund process can begin quickly.
If you buy from unfamiliar merchants
- Pay by card where appropriate so chargeback may be available if the seller fails to supply the goods or service.
- For a credit-card purchase above £100 and below £30,000, retain the contract and receipt in case Section 75 applies.
- Do not assume card payment protection covers a bank transfer sent to the same merchant.
If your concern is provider failure
- Identify the legal entity holding the money.
- Check whether the product is an eligible bank deposit, an e-money account, a safeguarded balance or an investment product.
- For Revolut, verify whether the balance has moved to Revolut Bank UK Ltd and whether the specific account is on its eligible list.
Common mistakes that weaken a fraud claim
- Using the wrong category. Calling an authorised transfer “unauthorised” can send the case into the wrong process. Explain the customer action and the deception separately.
- Waiting to report. Faster notification gives the provider more opportunity to recall funds and starts the correct claim route.
- Assuming the £85,000 figure is universal. It is the PSR baseline; a provider may publish a higher amount, as Revolut does.
- Assuming £120,000 applies to every Revolut product. The stated cap concerns eligible APP claims, not investments, crypto, commodities, stocks or every account type.
- Confusing deposit protection with scam reimbursement. FSCS protection addresses provider failure, not money voluntarily sent to a fraudster.
- Ignoring vulnerability. Tell the provider about circumstances that materially affected your ability to recognise or stop the scam; the excess treatment can differ.
- Failing to keep evidence. Deleting messages or losing the payment timeline makes it harder to establish what was authorised and how the deception occurred.
- Comparing raw numbers. Complaint counts without exposure and consistent definitions cannot show which provider is safer.
A practical decision checklist
- Write down the payment method: Faster Payments, CHAPS, card, cash, cheque or another route.
- Mark whether you authorised the payment yourself.
- Check the date and whether the payment was made on or after 7 October 2024.
- Identify your customer category: individual, microenterprise or charity.
- For an APP transfer, contact the sending provider immediately and request the reimbursement process.
- For an unauthorised payment, report it as unauthorised and ask when the next-business-day refund decision is due.
- For a card purchase, ask about chargeback and assess whether Section 75 could apply.
- For a Revolut balance, identify whether Revolut Bank UK Ltd or an e-money or other entity holds it.
- Preserve all evidence and respond to genuine information requests.
- If the final decision is unsatisfactory, follow the provider’s complaint process and consider the Financial Ombudsman Service.
What “better protection” means in a fair comparison
For covered UK APP transfers, the essential reimbursement floor is shared across the sector. Revolut’s published £120,000 limit is a meaningful contractual difference above the PSR’s £85,000 baseline, but it matters only for an eligible claim and does not measure prevention or success rates. For unauthorised payments, card disputes and provider failure, the relevant rules and account structures differ again.
The most defensible conclusion is therefore conditional: compare the payment route, eligibility, cap, excess, reporting deadline, account entity and complaint path. Choose the provider whose terms and emergency support fit your use, but do not claim that Revolut or traditional banks is categorically safer when the official evidence does not support that ranking.
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