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Revolut is a financial-technology group that combines payments, cards, currency exchange, investing, lending and business finance in one app. It makes money from several activities rather than from a single “bank account” fee: paid subscriptions, card payments, wealth services, foreign exchange and interest income were all material revenue lines in its 2025 results.
Revolut reported £4.5 billion ($6.0 billion) of group revenue for the year ended 31 December 2025, up 46% year over year. The figures are company-reported and describe a diversified platform; they are not a complete transaction-by-transaction explanation of every fee a customer may encounter.
What Revolut is
Revolut describes itself as a broad consumer and business financial platform. Customers can use its app and related products for everyday payments, cards, transfers, currency exchange, investing and other wealth services, credit and business finance. The exact products, limits and legal entity serving an account depend on the customer’s country of residence.
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That country-specific structure is important. Revolut is a group of regulated companies, not one globally identical bank account. A feature available in one market may be unavailable, supplied by a different entity or governed by different protections in another.
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Its UK banking status
In the United Kingdom, Revolut Bank UK Ltd received approval to leave mobilisation and launch as a bank in March 2026. Revolut said eligible deposits with that UK bank would be protected by the Financial Services Compensation Scheme (FSCS), while existing-customer onboarding and transfers would take place in phases. This announcement applies to the UK entity and eligible deposits there; it does not establish that every Revolut customer worldwide has a bank account or FSCS protection.
Revolut’s reported 2025 revenue streams
Revolut’s results announcement dated 24 March 2026 reports £4.5 billion ($6.0 billion) in group revenue for 2025 and £1.7 billion ($2.3 billion) in profit before tax, with profit before tax up 57% year over year. The company said 11 product lines each generated more than £100 million during the year.
The table shows the primary lines Revolut highlighted. Dollar amounts are the company’s illustrative conversions. These categories do not add up to group revenue: they are selected primary components, not a full reconciliation of every business activity and accounting line.
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| Revenue line | FY2025 amount | Year-over-year change | What it covers | What is not disclosed in the summary |
|---|---|---|---|---|
| Subscriptions turnover | £708m ($936m) | +67% | Paid personal plans and related subscription services | Plan-by-plan prices and the share of revenue from each tier |
| Card Payments | £1.0bn ($1.3bn) | +45% | Income associated with card-payment activity | Specific interchange rates, merchant fees or per-transaction economics |
| Wealth | £663m ($876m) | +31% | Investing and other wealth products | Detailed commissions, spreads and product-level fee schedules |
| Foreign exchange (FX) | £606m ($800m) | +43% | Currency-conversion activity | A complete schedule of spreads, markups, limits or customer-level charges |
| Interest income | £974m ($1.3bn) | +23% | Interest connected with lending and customer balances | A full split between lending income, balance-related income and funding costs |
1. Paid subscriptions
Subscriptions are the clearest direct-payment part of Revolut’s model. Customers can use a free or basic service where offered, while paid personal plans provide additional benefits. Depending on the market, those benefits can relate to card features, account limits, travel-related services, support or other app products. Because availability and terms vary by country, a plan name or benefit in one market should not be treated as universal.
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Revolut reported £708 million ($936 million) of subscriptions turnover in 2025, an increase of 67% from the previous year. “Turnover” is the company’s reported revenue measure for this line; it is not the same as the total amount customers paid for every product in the group, and it does not reveal the profitability of each plan.
2. Card-payment income
Revolut issues payment cards and lets customers spend through its network and app. Card-payment activity generated £1.0 billion ($1.3 billion) of reported revenue in 2025, up 45% year over year.
At a high level, card-payment revenue can arise when a card transaction produces payment-related income for the issuer or other participants in the payments chain. However, Revolut’s published results do not provide a transaction-level breakdown. They do not state a universal per-swipe interchange amount, a standard merchant charge or the percentage of a purchase retained by Revolut. The £1.0 billion figure should therefore be read as a reported business-line total, not as a fee customers can calculate from a single card purchase.
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Revolut also offers wealth products, which can include investing and related services where permitted by local regulation. Customers may use the app to access investments or other wealth features, while Revolut can earn income from activity and services in that area.
The Wealth line produced £663 million ($876 million) in 2025, up 31%. The public results do not break that amount into trading commissions, custody charges, spreads, interest, or other product-specific sources. Those mechanics can differ by country and by the particular investment product, so the total should not be turned into an assumed commission rate.
4. Foreign-exchange revenue
Currency exchange is one of Revolut’s most visible features. Users can exchange money in the app and use different currencies for transfers or card spending. Revolut reported £606 million ($800 million) of FX revenue in 2025, up 43% year over year.
The total shows that foreign exchange is a significant business line, but it does not publish one global spread or fee schedule. Pricing can depend on the customer’s plan, currency, timing, transaction type and local rules. The results announcement does not provide enough detail to calculate how much of a particular exchange is revenue for Revolut, so any claim about a fixed markup would go beyond the disclosed evidence.
5. Interest income, lending and customer balances
Interest income was Revolut’s largest named primary line in the 2025 summary at £974 million ($1.3 billion), up 23% year over year. Interest can be generated by lending to customers and by placing or holding customer balances in ways that earn a return, although the published summary does not provide a complete split between those sources or show net interest margins.
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The lending portfolio
Revolut reported a customer lending portfolio of £2.2 billion ($2.9 billion), up 120% year over year. It consisted primarily of unsecured personal loans and credit cards, plus an early mortgage portfolio. The portfolio value is not revenue: it is the amount of credit outstanding or otherwise represented in the lending book. Interest income is the revenue associated with financing activity, while losses, funding costs and operating expenses affect profit.
This distinction explains why the £2.2 billion lending figure must not be added to the £974 million interest-income figure or treated as money Revolut earned during the year.
Revolut Business and merchant services
The same multi-product model applies to businesses. Revolut Business supports local and international payments, cash-flow management, treasury products and merchant acquiring for online and in-person transactions. The company’s 2025 results say the business segment contributed 16% of total income, while business transaction volume reached $365 billion (£277 billion).
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchTransaction volume is the value moving through the platform, not the revenue Revolut keeps. A business can process a large amount of payments while the provider earns only a portion through payment-processing, foreign-exchange, subscription, treasury or other services. Revolut does not publish a single take rate that converts the $365 billion volume into revenue.
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Revolut Terminal
The annual report names Revolut Terminal, a physical point-of-sale device connected with Revolut Business accounts. It fits the merchant-acquiring part of the business by allowing in-person sellers to accept payments alongside online tools. The existence of the device does not mean every business customer or country can order it; availability and commercial terms are determined by the relevant market and entity.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the published lines do not add up to £4.5 billion
Readers often try to sum the five headline lines and compare the result with group revenue. That produces a misleading comparison because Revolut labels them primary revenue components, not a complete segment-by-segment reconciliation. Other products, eliminations, accounting classifications and activities can sit outside the selected figures.
Revenue and profit also measure different things. Revenue is income generated by the group. Profit before tax is what remains after operating costs and other expenses but before tax. Revolut’s reported £1.7 billion profit before tax in 2025 cannot be inferred by adding or subtracting the five listed categories without the full accounts.
What this model means for customers
Revolut’s economics are designed around usage across several products. A customer may generate subscription revenue by paying for a plan, payment-related revenue by spending with a card, FX revenue by exchanging currencies, wealth revenue by using an investment service and interest-related revenue by borrowing or leaving balances in products that produce returns for the group. A business customer can add payment-processing, acquiring, treasury and cash-management activity.
That does not mean every customer pays every type of charge. A person who uses only a free plan and makes no exchange, investment or borrowing transaction may contribute differently from a paid-plan customer who spends internationally and uses credit. The exact price and availability depend on the account’s country, plan and legal entity.
How to check the economics of your own account
- Identify the contracting entity. Read the account terms or legal information in the app to see which Revolut company provides your service.
- Check your plan and country schedule. Review the current subscription price, included limits and any charges for exceeding them. Do not rely on a plan description from another country.
- Review exchange details before converting. Look for the rate, any displayed fee and applicable limits for the currency and transaction time.
- Read card and cash-withdrawal terms. Confirm fees, limits and network rules for the specific card and location.
- Separate borrowing costs from account balances. For loans or credit cards, examine the annual percentage rate, interest calculation, repayment terms and possible fees. For deposits or savings features, check whether the product is a bank deposit, an investment or another arrangement.
- Check protection statements. Deposit insurance and safeguarding rules depend on the entity and jurisdiction. A UK FSCS statement cannot be generalized to accounts served elsewhere.
Is Revolut a bank?
The accurate answer is “sometimes, depending on the entity and country.” Revolut operates as a financial-technology group with multiple regulated businesses. Its UK bank launch in March 2026 changed the status of the UK entity and introduced FSCS protection for eligible deposits there, with customers moved in phases. It does not make every Revolut account worldwide a bank account, and it does not make every app feature a deposit or lending product.
What the 2025 results do—and do not—prove
- They show a large, rapidly growing and diversified reported business: £4.5 billion of group revenue and £1.7 billion of profit before tax for 2025.
- They show that subscriptions, card payments, wealth, FX and interest income each contributed materially, with the reported growth rates in the table above.
- They show that business services are substantial, representing 16% of total income and $365 billion (£277 billion) in transaction volume.
- They do not provide a complete product-level fee card, a universal FX spread, a per-card-transaction interchange figure or a full reconciliation from each service to group revenue.
- They are company-reported results. The figures should be attributed to Revolut rather than presented as an independent regulator’s measurement.
Bottom line
Revolut makes money by combining many financial activities in one platform. In 2025, its reported income came chiefly from interest, card payments, subscriptions, wealth and foreign exchange, with business payments and merchant services adding another major channel. The model is diversified, but the headline totals are selected company-reported lines, not a universal fee schedule. To understand what Revolut earns from your account, check the terms for your country, plan and contracting entity—and distinguish revenue from the value of loans, deposits or payment volume moving through the system.
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