Cancel Revolut: Step-by-Step Guide

How to cancel your Revolut account in australia the right way

Why you might want to cancel Revolut

You've signed up for Revolut and now you're reconsidering. Maybe the paid plan isn't delivering value, you've found a better digital bank, or unexpected charges have frustrated you. Whatever your reason, you have clear rights under Australian consumer law, and cancelling your Revolut account or subscription doesn't have to be complicated.

This guide walks you through your options, your legal entitlements, and the exact steps to close your account cleanly. Tocancel exists to help you understand these processes and take confident action.

Common reasons to downgrade or close your account

Many Australians cancel Revolut because the paid plan (Plus, Premium, or Metal) no longer suits their spending or travel patterns. Others switch to a competitor, discover better exchange rates elsewhere, or simply want to streamline their financial tools. Some users report that partner subscription benefits weren't used, or that customer service fell short of expectations.

The good news: you can downgrade to Revolut's free Standard plan without closing your account entirely, or you can close your account completely. These are two separate decisions with different outcomes and requirements.

Downgrade versus full account closure

Downgrading means cancelling your paid subscription (Plus, Premium, or Metal) and keeping your free Standard account active. You'll retain your card, your transaction history, and your ability to use Revolut for basic multi-currency transfers and spending.

Full account closure is permanent. You'll lose access to all Revolut services, your card will be disabled, and you cannot reopen the same account. Revolut will close any investment accounts, Kids & Teens accounts, and any other linked services. Before you proceed with full closure, ensure this is truly what you want.

Your legal rights under australian consumer law

When you cancel a Revolut subscription or close your account, Australian Consumer Law (ACL) and the Australian Securities and Investments Authority (ASIC) regulate your protections.

What australian consumer law protects you

The ACL guarantees that financial services, including digital banking, must be provided with due care and skill, and that terms and conditions cannot unfairly disadvantage you. If Revolut continues to charge your account after you've cancelled, or if they refuse to close your account despite your request, you may have grounds for a dispute.

Your legal position: You have the right to cancel a paid subscription at any time. Revolut must honour your cancellation request within a reasonable timeframe (typically 1-2 business days) and must not continue to charge you after cancellation. If you're entitled to a refund and Revolut refuses, you can escalate to ASIC or lodge a complaint with the Australian Financial Complaints Authority (AFCA).

Refund eligibility and timeframes

Revolut's refund policy depends on whether you've cancelled within your plan's billing cycle. Annual plans purchased in Australia are not automatically refundable if cancelled within 14 days, because Revolut has already delivered the service. However, if you can demonstrate the service was faulty or unsuitable, you may claim a refund under ACL section 259.

Monthly subscriptions do not carry a statutory cooling-off period once activated. This means if you cancel mid-month, you typically forfeit the remainder of that month's fee. Tocancel recommends cancelling at the end of your billing cycle to minimise loss, though you can cancel immediately if you wish.

Pricing comparison and plan breakdown

Understanding Revolut's paid plans helps you decide whether to downgrade or close entirely.

These prices are current in Australia and may change under Revolut's Paid Plan Terms. Notice that annual plans lock you in for 12 months with limited refund protection. If you're unsure whether a paid plan delivers value, start with the Standard account (free) and upgrade only after 30 days of use.

How to cancel your Revolut subscription or account

Revolut's cancellation process differs slightly depending on whether you're downgrading to Standard or closing your account entirely. Both processes happen within the mobile app.

Cancelling a paid subscription (downgrade to standard)

This process takes 2-3 minutes and keeps your account active.

1. Open the Revolut app on your mobile device and log in.
2. Tap your profile icon (usually at the bottom right).
3. Select "Plans" or "Subscription".
4. Find your current paid plan (Plus, Premium, or Metal) and tap it.
5. Select "Downgrade" or "Cancel plan".
6. Confirm the cancellation when prompted.
   • Revolut will inform you of your cancellation date (usually immediate or at end of billing cycle).
   • You'll receive a confirmation email.
7. Verify the downgrade by checking your profile again-it should now show "Standard".

After downgrading, you keep your card, your balance, and access to Revolut's basic services. Your account will not be charged again. Tocancel recommends taking a screenshot of the confirmation for your records.

Closing your Revolut account entirely

Account closure requires you to meet four prerequisites. This process is permanent and cannot be reversed.

1. Check and prepare your account.
   • Ensure your account balance is zero. Transfer or withdraw any AUD, foreign currency, or crypto holdings.
   • Confirm no pending transactions are in progress (check your transaction history).
   • Downgrade to the Standard plan if you're on a paid plan (see steps above).
   • Close any Investment accounts (Revolut Stocks) and disable any Kids & Teens accounts linked to your profile.
   • Cancel any active chargebacks or disputes.
   • Update your Revolut app to the latest version.
2. Open the Revolut app and go to your profile (icon at bottom right).
3. Scroll down and tap "Account" or "Settings".
4. Select "Close account" or "Account closure".
5. Read the closure warning. Revolut will confirm that closure is permanent and cannot be undone.
6. Tap "Proceed" and follow the on-screen prompts.
7. Provide a reason for closure (optional, but helps Revolut improve).
8. Confirm your choice a second time.
9. You'll receive a confirmation email confirming your account is closed.
   • Your card will be disabled immediately.
   • Your account data will be retained for regulatory purposes but will not be accessible to you.

Account closure typically completes within 24-48 hours. After closure, you cannot recover your account or any linked services. Tocancel urges you to back up any statements or transaction records you need before closing.

What happens after you cancel

The moment after you hit "confirm" can feel uncertain. Here's exactly what to expect.

Timeline and what you'll see

If you've downgraded to Standard, your app will immediately reflect the change. Your paid plan features (insurance, higher ATM limits, partner subscriptions) will no longer be available, but your card remains active and your balance stays intact.

If you've closed your account, your app will display a message confirming closure within a few hours. Your card will be blocked from new transactions immediately. Any funds remaining in your account will be transferred to your linked bank account within 5-10 business days. You'll receive email confirmations at each stage.

Refunds and outstanding balance recovery

If you close your account mid-billing cycle and paid for a monthly plan, you will not receive a refund for the unused portion-this is standard practice for digital services and is permitted under ACL. However, if you can evidence that Revolut failed to deliver the service, or charged you after you cancelled, you have grounds to dispute.

Any AUD balance in your account will be refunded to your nominated Australian bank account. Any foreign currency will be converted to AUD at Revolut's current exchange rate and refunded. Crypto holdings must be liquidated and withdrawn by you before closure-Revolut will not liquidate them on your behalf.

If Revolut owes you a refund and hasn't paid within 10 business days, or if you believe the charge was unfair, escalate to AFCA (Australian Financial Complaints Authority). Tocancel recommends documenting the date of your cancellation request and all confirmation emails as evidence.

Common mistakes to avoid when cancelling Revolut

Cancelling a subscription or closing an account can feel stressful, and it's easy to miss a step. Here's what catches most people out.

Mistake 1: leaving a balance in your account

If you close your account with funds still held, Revolut will refund them, but the process takes longer (5-10 business days) and you may lose money to exchange rates if you held foreign currency. Always transfer your balance to your main Australian bank account before initiating closure.

Mistake 2: forgetting to cancel pending transactions

If you have pending card transactions, subscriptions, or standing orders, Revolut will not let you close your account. Check your transaction list carefully. Cancel any subscriptions outside Revolut (like Spotify or Apple subscriptions linked to your Revolut card) first.

Mistake 3: closing your account without downgrading your plan first

Revolut requires you to downgrade to Standard before closure. If you skip this step, your closure request will be rejected, and you'll have to start over. Downgrade first, then proceed to closure.

Mistake 4: confusing account closure with app deletion

Deleting the Revolut app from your phone does not cancel your account or subscription. Charges will continue. You must cancel or close through the app itself, not by deleting the app.

Mistake 5: not backing up statements before closure

Once your account is closed, you lose access to your transaction history. If you need records for tax, audit, or dispute purposes, screenshot or download your statements while your account is still open. This is especially important if you use Revolut for business spending.

Troubleshooting common cancellation issues

Sometimes Revolut's app behaves unexpectedly or refuses your cancellation request. Here's how to resolve common problems.

The app won't let you close your account

This usually means one or more closure prerequisites are unmet. Check this list again:

• Zero balance (no AUD, foreign currency, or crypto).
• No pending transactions or chargebacks.
• Downgraded to Standard plan.
• All Investment and Kids & Teens accounts closed.
• App updated to the latest version.

If you've completed all of these and the app still refuses, log out, clear your app cache, and log back in. If the issue persists, contact Revolut support via the in-app chat or email [email protected].

Revolut continues to charge after cancellation

Screenshot the charge(s) and the in-app cancellation confirmation. Email Revolut support with the evidence and ask for an immediate refund. If Revolut ignores your request, lodge a complaint with AFCA within 6 months. Tocancel advises keeping records of every communication with Revolut-these are your proof.

You can't reach Revolut customer support

Revolut's in-app chat is the fastest route. If that fails, email [email protected] with "Urgent: Account Closure" in the subject line. Follow up if you don't receive a response within 5 business days. As a last resort, contact ASIC's complaints line or escalate to AFCA.

Cancellation checklist

Use this checklist to ensure you've completed every step before closing your account.

Should you keep or cancel? a quick comparison

Unsure whether cancelling is right for you? This table breaks down when keeping versus closing makes sense.

In most cases, downgrading to Standard (free) is a middle ground that preserves your account without ongoing costs. Only close if you're certain you won't need multi-currency banking again.

Get help cancelling Revolut with tocancel

Cancelling a financial account can feel daunting, but you're protected by Australian law and entitled to clear, timely service. Tocancel has helped thousands of consumers cancel unwanted subscriptions and close accounts confidently. Whether you're downgrading to Standard or closing your account permanently, this guide gives you every step, every safeguard, and every right you need to know.

If Revolut refuses to honour your cancellation request, continues to charge after you've cancelled, or fails to refund money you're entitled to, escalate to the Australian Financial Complaints Authority (AFCA) at afca.org.au or call 1800 931 678. AFCA is free, independent, and has the power to force Revolut to compensate you.

Tocancel's mission is to empower you to take control of your subscriptions and accounts. Use the steps in this guide, keep your confirmations, and contact Tocancel or a consumer advocate if Revolut resists. You have the right to cancel-exercise it with confidence.

Revolut support contact: [email protected] | In-app chat available 24/7

Escalation: AFCA (Australian Financial Complaints Authority), afca.org.au, 1800 931 678