To cancel Revolut Premium, open the Revolut mobile app, tap your profile icon, select Plan, tap Manage, then choose Change Plan or Downgrade and confirm. The change processes right away. Before you tap through, check your sign-up date: canceling within the first 10 months of a monthly plan triggers a breakage fee equal to two months of subscription, which works out to $19.98 at the $9.99 monthly rate.
Downgrade Steps in the App
Plan changes only happen through the mobile app. The website and desktop dashboard don’t offer a downgrade option.
- Tap the profile icon in the top-left corner of the home screen.
- Select Plan to see your current subscription.
- Tap Manage, then Change Plan or Downgrade.
- Tap through the comparison screens showing what you keep versus what you lose.
- Confirm on the final screen.
Your plan dashboard updates immediately to show when your remaining Premium benefits expire.
The 14-Day Cooling-Off Period
If you subscribed within the last 14 days and haven’t used any Premium-only services, you can get a full refund. Cancel using the steps above; your request just needs to be sent before the 14-day window closes, not fully processed by then.
Ordering or receiving the Premium card counts as using the service. If a Premium card shipped to you during those 14 days, Revolut issues a partial refund based on how much of the service you used rather than the full amount.
Early Cancellation Fees
After the cooling-off window but before you hit 10 months on your plan, canceling costs you something. How much depends on how you pay.
Monthly billing. Revolut charges a breakage fee of two months’ subscription, which is $19.98 for Premium. You don’t get a refund for the current month either, but your benefits run to the end of that billing cycle.
Annual billing. No breakage fee, but Revolut won’t refund any portion of what you already paid. You keep Premium for the rest of the annual cycle.
Past the 10-month mark, you can downgrade without any fee regardless of billing method. Your plan dashboard shows your sign-up date and next renewal date, so check those first. If you’re at month eight or nine on a monthly plan, waiting could save you $20.
If You Can’t Reach the Plan Settings
Revolut’s terms allow cancellation through customer support if self-service isn’t working. Open the app, go to your profile, select Help, and message a support agent to request the downgrade. There is no direct email or phone number for cancellations. The in-app chat is the only alternative.
What You Lose After Downgrading
Your account reverts to Standard. A few changes hit frequent users hardest.
Currency Exchange
Premium lets you exchange up to $10,000 per month at the interbank rate before a 0.5% fee kicks in. Standard drops that threshold to $1,000 per month. Above the Standard limit, the fee is $50 per additional $10,000 exchanged.
Fee-Free ATM Withdrawals
Premium covers up to $800 per month at out-of-network ATMs before a 2% fee applies. Standard has a lower threshold. ATM operators may add their own fees on top either way.
Savings Vault Rates
As of mid-2025, Premium earns 4.50% APY on USD balances and Standard earns 4.00% APY. The rates vary over time, but the tier gap has been consistent.
Crypto Trading
For trades up to roughly $10,000 over 30 days, Standard users pay 1.49% per trade and Premium users pay 0.99%. The gap narrows at higher volumes but doesn’t close.
Insurance and Lounge Access
Travel insurance, purchase protection, and airport lounge access are Premium-only and end when you downgrade. For gifted plans, Revolut’s terms state that insurance coverage ends immediately on the switch to a lower tier rather than at the end of the billing cycle. If you have a trip booked, factor that in.
Your Card Still Works
Your Premium card keeps working after you downgrade. It just operates under Standard fees going forward. You don’t need to order a new one.
Canceling a Free Trial
The 14-day cooling-off rules apply from the moment you subscribe to a trial. The main risk is forgetting to cancel before the trial converts to a paid annual subscription; once it converts, the standard breakage rules kick in and Revolut charges the full rate going forward. Cancel through the same app path: profile, Plan, Manage, Change Plan. If the trial hasn’t ended, you won’t be charged.
Confirming the Cancellation
After you confirm, check two things. Your plan dashboard should show Standard as the active plan along with the date Premium benefits expire, which is typically the end of the current billing cycle for monthly payers or the end of the annual period for annual payers. Then watch your transaction history through the next billing cycle to confirm no further subscription charges appear. Revolut sends an in-app notification confirming the change and follows up by email.