Singapore Deposit Insurance Corporation (SDIC) covers up to SGD 100,000 per depositor per Scheme member. SDIC membership applies only to full banks and finance companies licensed under the Banking Act / Finance Companies Act.
Important. This product is licensed under the Payment Services Act as a Major Payment Institution (Stored Value Facility), NOT as a bank. Customer funds are held in a segregated trust account at a custodian bank (typically Citibank, DBS or similar) and are NOT SDIC-protected. In the event of provider failure, recovery depends on the segregation arrangement and the custodian bank, not on deposit insurance.
Primary source: https://www.sdic.org.sg/
What Revolut Singapore is, in 2026
MAS-regulated APAC arm of Revolut. Multi-currency accounts in 30+ ccys, free Standard tier, paid Premium (SGD 12.99/mo) and Metal (SGD 19.99/mo) upgrades. Revolut Securities (Singapore) Pte. Ltd. provides stock + ETF trading. Rolling out to AU, NZ, JP via local entities.
More on Singapore's neobank market: Best Neobanks in Singapore.
Safety and regulation
Revolut Technologies Singapore Pte. Ltd. holds a MAS Major Payment Institution licence under the Payment Services Act. Per the MAS Financial Institutions Directory, the licence scope covers account issuance, e-money issuance, domestic money transfer, cross-border money transfer, merchant acquisition and digital payment token services. Revolut Singapore is not a bank — customer e-money balances are safeguarded in segregated trust accounts at MAS-approved safeguarding banks (Revolut SG's General Terms list DBS Bank, Standard Chartered Bank and Australia and New Zealand Banking Group) and are not SDIC-protected. SDIC deposit insurance applies only to full banks and finance companies licensed under the Banking Act / Finance Companies Act. Revolut Securities (Singapore) Pte. Ltd. is MAS-regulated separately for investing products under Capital Markets Services rules. The Australian operation runs through Revolut Payments Australia Pty Ltd, which holds an Australian Financial Services Licence (AFSL 517589) and an Australian Credit Licence from ASIC, plus AUSTRAC registration for AML/CTF.
Who Revolut Singapore is for
Use Revolut SG if: you're a Singapore / Australia / New Zealand / Japan resident wanting fee-free multi-currency e-money under MAS supervision (segregated, not SDIC-insured), or you're a frequent APAC traveller wanting the same Revolut UX you'd use in the EU. If you specifically need SDIC deposit insurance, use a SG-licensed bank instead (DBS, OCBC, UOB, Trust Bank, GXS Bank).
Disclose product type before relying on protection. Bank deposits are SDIC-protected up to SGD 100,000. Stored Value Facility (SVF) e-money is held in trust at a custodian bank but is NOT SDIC-protected. Investments through Capital Markets Services licensees carry their own risk and are not deposit-equivalent. Verify the licence with MAS at mas.gov.sg.
Premium plans
- Free; per-trade fees apply
- Higher FX, travel insurance
- Metal card, lounge access