Revolut adds Street Mode to stop thieves from moving your money

By Vriti Gothi

Revolut has introduced a new safety feature, Street Mode, across the UK and the European Economic Area, aiming to curb the growing risk of transfer-related theft amid a sharp rise in mobile phone snatching.

The launch comes amid a reported 425% increase in phone thefts in the UK since 2021, a trend that has given rise to “transfer mugging” incidents where criminals steal unlocked phones and attempt to execute bank transfers, sometimes coercing victims into completing selfie-based identity checks. With holiday crowds and late-night festivities increasing vulnerability, the FinTech is positioning Street Mode as a preventative layer designed for high-risk situations.

Street Mode extends Revolut’s existing Wealth Protection feature, enabling users to set “Trusted Locations” where transfers proceed as normal. When a customer is outside those zones, transfers above a preset limit trigger additional identity checks and an automatic one-hour delay. The delay is intended to create a buffer for victims to freeze accounts or flag suspicious activity before funds can be moved.

“It’s vital that we stay on top of emerging threats to customer funds, and transfer mugging is rising across many cities and countries,” said Rami Kalai, Product Owner at Revolut. “Street Mode is a smart, location-aware shield that adapts to locations where customers need an extra level of protection. Street Mode puts Revolut customers in control with extra layers of protection for their funds when they need it most.”

Revolut customers can activate the feature by turning on Wealth Protection in the app’s security settings, setting their transfer limit, enabling Street Mode, and defining trusted locations — such as homes, workplaces, or hotels while travelling.

The feature reflects a broader industry shift toward adaptive, identity-rich fraud prevention tools as digital banks respond to increasingly sophisticated theft and social-engineering tactics. Revolut reports that more than one million customers across Europe have already enabled Wealth Protection since its launch last year.