Revolut vs Lightyear

No, Revolut is not FSCS protected. It operates under an e-money licence in the UK, which means balances held in Revolut accounts are not covered by the Financial Services Compensation Scheme (FSCS). Although Revolut has recently been granted a UK banking licence, this is not yet in effect.

However, funds in a Revolut Savings account may be FSCS protected. Revolut partners with third-party banks to offer these accounts, and eligible deposits with these banks may be covered up to the £85,000 limit. If you are unsure about your specific situation, seek further guidance.

Revolut and Lightyear have distinct pricing structures and features. Revolut uses a freemium model, where users pay monthly fees to unlock benefits like improved FX rates and a higher allowance of free U.S. stock trades. Depending on your subscription level, your allowance ranges from 1 to 10 free trades per month.

Lightyear, on the other hand, has no monthly fees. It charges a fixed FX fee of 0.35% and simple flat fees for trading stocks (£1 for UK stocks, €1 for EU stocks, and $1 max for US stocks). Lightyear also offers access to UK and EU stocks for UK customers, which is not available on Revolut. ETFs can be traded on Lightyear without any execution fees. Additionally, you can hold multiple currencies in Lightyear and earn interest on your uninvested balances — without the need to open a separate savings account.

Yes, you can transfer stocks from Revolut to Lightyear. Lightyear accepts transfers of whole shares, provided the value of each position is at least £/$/€1,000. Only regular, exercised stocks can be transferred—non-qualified stock options (NSOs) are not accepted.

To start a transfer, read our guide to stock transfers.