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 charges no fees for trading stocks or ETFs.

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.