Cancel Revolut Premium: The Right Way

How to cancel Revolut Premium and reclaim your monthly fees

Understanding Revolut Premium and your subscription rights

Revolut Premium costs you £6.99 per month, or £71.88 annually, and it arrives as an automatic recurring charge on your account every billing cycle. You're enrolled in what's called a continuous payment authority, which means Revolut keeps debiting your chosen payment method without asking permission each time. Understanding exactly what you're paying for, and recognising when it no longer serves you, is the first step toward taking back control.

At Tocancel, we've guided thousands of UK customers through subscription cancellations, and Revolut Premium is one of the most straightforward to cancel once you know your rights. Revolut Ltd is FCA-regulated (the Financial Conduct Authority), so consumer protections are built in from day one. The power to cancel sits entirely with you, and you're protected by law when you exercise it.

What Revolut Premium includes

Premium sits between Revolut's free Standard account and the pricier Metal tier. Your £6.99 monthly fee unlocks fee-free currency exchange (up to monthly limits), priority customer support, comprehensive travel insurance covering trips up to 180 days, airport lounge access through LoungeKey, and preferential cryptocurrency exchange rates. For frequent international travellers or overseas money movers, these features can justify the cost. For most others, they sit unused.

Pricing and what you lose after cancellation

When you cancel Revolut Premium, you immediately revert to the free Standard account. All paid features vanish at the moment your subscription ends; you don't keep Premium benefits until the end of the month. Your basic digital banking continues uninterrupted, but you lose fee-free currency exchange, travel insurance, and lounge access. Revolut may also increase the Premium price with 30 days' advance notice under their terms, so cancelling protects you from surprise price hikes.

Should you cancel Revolut Premium right now?

Before you take action, assess honestly whether Premium features genuinely fit your current lifestyle and financial needs.

Strong reasons to keep your subscription

You travel internationally more than twice yearly. You work with overseas clients and regularly move money abroad. You've claimed on the travel insurance and found it essential. You use the lounge access for business or leisure trips. You're an active cryptocurrency trader using the preferential exchange rates. If any of these apply to you, Premium likely pays for itself.

Clear signals that you should cancel

You haven't travelled abroad in the past 12 months. The £6.99 charge sits on your statement and you can't remember why you subscribed. You've downgraded your lifestyle since signing up and no longer need frequent ATM withdrawals abroad. Your employer or bank already provides travel insurance. You rarely, if ever, exchange currency or trade cryptocurrency. You've noticed yourself paying for features you don't actively use. These patterns signal it's time to cancel.

Your consumer rights when cancelling Revolut Premium

UK law puts you in a strong position when you cancel a subscription service, and understanding these rights removes any doubt about whether you can actually do this.

The consumer rights act 2015 and your cancellation window

The Consumer Rights Act 2015 is your legal foundation for cancelling Revolut Premium. Because you entered into a distance contract (by phone, app, or online) with an FCA-authorised firm, you have a statutory right to cancel within 14 calendar days of purchase or renewal. Your legal position is clear: you can cancel without penalty, without explanation, and without cost. This 14-day period is non-negotiable and applies whether you're cancelling for the first time or after years of subscription. After 14 days, your cancellation rights change, but you still retain the ability to end your subscription by following Revolut's standard cancellation process.

What happens after the 14-day period

If you cancel after the 14-day statutory window, you lose the automatic right to a refund for the current billing cycle. However, you can still cancel your subscription immediately through the app, and you'll stop paying from the next billing date onwards. Revolut's terms state that Premium subscriptions end on your next renewal date if you cancel outside the cooling-off period. This means if you cancel on 15 January for a monthly subscription that renews on 20 January, you'll receive a final charge on 20 January and then the subscription ends. Tocancel recommends cancelling as close to your renewal date as possible to minimise wasted fees.

How to cancel Revolut Premium step-by-step

Revolut makes the actual cancellation simple because the app and website both support it directly; postal cancellation is not available. Follow these steps to cancel without delay.

Cancelling via the Revolut app

The Revolut app is the fastest and most straightforward route to cancellation. Use this method on your phone or tablet whenever it's convenient.

1. Open the Revolut app on your phone or tablet and log in with your credentials.
   • Ensure you're using the latest version of the app to avoid technical issues.
2. Tap the "Home" tab and look for your account information at the top or bottom of the screen.
   • You may see your subscription tier displayed here, e.g., "Premium" next to your account name.
3. Navigate to "Settings" (usually the gear icon) or "Account" and select "Subscription" or "Plans".
   • The exact menu structure changes occasionally, so look for words like "Membership", "Tier", or "Subscription".
4. Find Revolut Premium and tap "Manage subscription" or "View details".
   • You should see your renewal date and the option to downgrade or cancel.
5. Select "Cancel subscription" or "Downgrade to Standard" and confirm your choice.
   • Revolut may ask why you're cancelling; this feedback is optional.
   • You may see a retention offer; ignore it if you're certain you want to cancel.
6. Check your email for a confirmation message from Revolut stating your cancellation is complete.
   • Keep this email as proof of cancellation for your records.

Cancelling via the Revolut website

If you prefer desktop or laptop access, the Revolut website offers the same cancellation process with a larger screen.

1. Visit www.revolut.com and log into your account using your email and password.
   • Use a secure internet connection and never log in via public WiFi.
2. Navigate to "Settings" in the top right corner (or your account menu) and select "Subscription" or "Plans".
   • Look for a section labeled "Membership", "Account tier", or "Billing".
3. Locate Revolut Premium and click "Manage" or "View details".
   • You'll see your current renewal date and subscription cost.
4. Click "Cancel subscription" or "Downgrade to Standard" and follow the on-screen prompts.
   • Confirm your choice when asked.
5. You'll receive an on-screen confirmation and a follow-up email within minutes.
   • Save this email as your cancellation proof.

Refunds and what to expect after you cancel

Understanding the refund timeline and what happens next removes confusion and lets you verify that Revolut is honouring your cancellation request.

Will you receive a refund for this month?

Your refund eligibility depends entirely on when you cancel within your billing cycle. If you cancel within 14 days of your most recent charge or subscription renewal, you have a legal right to a full refund under the Consumer Rights Act 2015. Revolut must process this refund to your original payment method within 14 days of receiving your cancellation request. If you cancel after the 14-day statutory window, you forfeit the refund for the current cycle, but all future charges stop immediately. Tocancel advises cancelling as soon as you know Premium no longer serves you, as each day you wait costs you approximately 23 pence.

Timeline for your cancellation to take effect

Revolut processes cancellations instantly via the app or website. Your Premium benefits end immediately, though you may still see the "Premium" label in your app until the next billing cycle refreshes (usually within 24 hours). If you've cancelled within the 14-day statutory window, expect a refund credit to appear in your original payment method within 7 to 14 business days. Bank transfers typically process faster than card refunds. Your Standard account remains fully active throughout, so you retain all core banking functions like sending money, holding balances, and using your Revolut card.

What happens to your travel insurance after cancellation

Your travel insurance coverage ends on the date your Premium subscription ends. If you're currently abroad or have active trips, Revolut's policy typically covers journeys that began before cancellation, but verify this by contacting support. Download your insurance documents before you cancel, as you'll no longer have access to them through the Premium dashboard. Consider whether you need alternative travel cover from another provider before you hit the cancel button.

Common cancellation mistakes to avoid

Cancelling a subscription can feel daunting if you've never done it, and small oversights can lead to unexpected charges or lost refunds. Here are the traps that catch most people, and exactly how to sidestep them.

Delaying cancellation because you feel guilty

Many people continue paying for subscriptions they don't use because they feel indebted to the company or worry about "letting down" the service. This is entirely normal, but it costs you real money every single month. Revolut is a profitable, FCA-regulated institution; cancelling your Premium subscription won't harm them. Your financial wellbeing comes first. Cancel today if you've decided Premium no longer serves you.

Missing the 14-day refund window

The Consumer Rights Act 2015 gives you 14 calendar days to cancel and claim a refund. After day 14, you lose that automatic refund right (though you can still cancel subscription payments). Don't assume you have "a few more days"; count 14 days from your purchase or renewal date. If you crossed the threshold, you can still cancel going forward, but the current month's fee is yours to keep.

Cancelling the wrong subscription or account

If you hold multiple Revolut accounts or subscriptions, double-check you're cancelling Premium on the correct account. Some customers accidentally downgrade Metal to Standard instead of Premium, or cancel the wrong card product. Before you confirm cancellation, read back the subscription name and the date you'll be charged next. This single verification step prevents costly mistakes.

Not saving your cancellation confirmation email

Always save the confirmation email Revolut sends after you cancel. If a charge appears on your next billing date, this email is your proof that you cancelled correctly. Without it, you'll have to contact support to dispute the charge, adding time and frustration. Create a folder in your email called "Cancellations" and file all confirmation messages there for future reference.

Assuming inactivity equals cancellation

Deleting the Revolut app, not using your Premium features, or ignoring payment notifications does not cancel your subscription. Revolut will keep charging you until you explicitly cancel through the app, website, or by contacting support. Inactivity buys you no protection.

After cancellation: what to do next

Once you've successfully cancelled Revolut Premium, take these final steps to confirm the process is complete and protect yourself going forward.

Verify your cancellation in writing

Within 48 hours of cancelling, log back into the Revolut app and check your subscription status. You should see "Standard" or "No active subscription" where "Premium" used to appear. If Premium still shows as active, contact Revolut support immediately through the in-app chat or email. Save screenshots of your account status as additional proof that you cancelled.

Monitor your next statement

Check your bank statement or card statement on your next billing date. If you cancelled within the 14-day statutory window, you should see no charge and a refund credit within 7 to 14 days. If you cancelled outside the 14-day window, you'll see one final Premium charge on the renewal date, then no further charges. If unexpected charges appear after cancellation, dispute them immediately with your bank or card provider and reference your cancellation confirmation email.

Consider alternative solutions if needed

If you cancelled because of one specific pain point (high currency exchange fees, poor customer support, limited travel insurance), explore whether another subscription tier fits better. Some customers who thought they needed Premium actually benefit from Metal's enhanced features, or they discover the free Standard account covers all their needs. Tocancel's goal is to help you pay only for what you actually use, not to push you away from every subscription.

Escalation: what to do if Revolut refuses to cancel

In rare cases, Revolut may not process your cancellation or may charge you after you've submitted a cancellation request. You have legal remedies available, and the Financial Conduct Authority stands behind you.

Your legal position if the company ignores your cancellation

If Revolut fails to honour your cancellation request or refuses to process a refund you're entitled to under the Consumer Rights Act 2015, you have the right to escalate your complaint to the Financial Ombudsman Service (FOS). The FOS is an independent authority that investigates disputes between UK consumers and FCA-regulated firms. You can file a complaint for free if Revolut doesn't resolve the issue within eight weeks. Tocancel recommends contacting Revolut's formal complaints team first (through the app or website) and giving them 14 days to respond before escalating to the FOS.

Contact details for escalation

If Revolut's standard support doesn't resolve your cancellation complaint, email their formal complaints team or use the in-app complaints feature. Request written confirmation of your complaint reference number. If you don't receive a satisfactory response within 14 days, contact the Financial Ombudsman Service at www.financial-ombudsman.org.uk or call 0800 023 1971. Have your Revolut account number, cancellation date, and complaint reference number ready.

Comparison: Premium versus standard and metal

Understanding how Premium stacks up against Revolut's other tiers helps you decide whether you're cancelling the right product or whether a different tier might serve you better.

Your next step: cancel with confidence

You now know your consumer rights, the exact steps to cancel Revolut Premium, and what to expect after you've submitted your cancellation request. The Consumer Rights Act 2015 protects you, Revolut's systems make cancellation straightforward, and you have legal remedies if anything goes wrong. Whether you're cancelling because you've stopped travelling, found cheaper travel insurance elsewhere, or simply want to cut unnecessary spending, the decision is yours to make.

If you encounter any resistance or confusion during the cancellation process, Tocancel is here to guide you through the next steps. We've helped thousands of UK consumers cancel subscriptions across banking, streaming, fitness, and dozens of other industries. Visit tocancel.com today to access our full cancellation guides, contact templates, and escalation advice. Tocancel makes it simple to take back control of your subscriptions and reclaim money you didn't know you were wasting.

For Revolut Premium cancellations, contact Revolut support through your app, at www.revolut.com/support, or email their complaints team if your standard cancellation request goes unacknowledged. Keep your cancellation confirmation email, monitor your next statement, and reach out to the Financial Ombudsman Service at www.financial-ombudsman.org.uk if Revolut refuses to honour your request. Your financial wellbeing is worth protecting, and Tocancel stands with you every step of the way.