Revolut Business review Ireland
Explore Revolut Business Accounts, with options for freelancers, small teams and large companies.
Just like its personal bank accounts, Revolut’s business accounts come with a number of useful and innovative features. There is a range of options for businesses of all sizes, including freelancers, small teams and large organisations. In this review we will take you through what you need to know about Revolut’s business accounts so you can decide if it’s right for your business.
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Revolut started out by changing the way personal customers handled their money and soon branched out to business customers. We’ve checked out what Revolut offers to businesses in Ireland to help you decide if it’s right for you.
How does Revolut Business work?
Revolut offers a number of different business accounts designed for small teams, freelancers and all the way up to large organisations. The Revolut Business accounts come with different features and benefits depending on the type of business you have and the features you’re after. The account options start with the base level free account for freelancers which lets you make free local payments and gives account access to one user, and extends all the way up to enterprise accounts for companies which let you customise all aspects of the accounts.
Find out more about the features on offer and the costs to decide which account might be best for your business.
Is your business eligible for Revolut Business?
To access the business accounts from Revolut, your business must be one of the following:
- Private limited company
- Public limited partnership
- Limited liability partnership
- Sole trader
- Unlimited company
Your business must also operate within the European Economic Area (which includes the UK) and Switzerland.
At the time of writing (21 September), Revolut Business is not available to other types of organisations such as:
- Venture capital funds
No matter which account tier you decide to go with, Revolut Business offers:
- Free account opening (different monthly fees apply)
- Free transfers to and from other Revolut accounts
- Hold and exchange 28 currencies
- Receive both a GBP and EUR account as well as an IBAN for global transfers
- Prepaid debit cards to manage business expenses
- Mobile app for cardholders
- Accounts with multi-user access let you set permissions for each individual
- Google Pay and Apple Pay available
- Virtual cards to let your team members make easy and secure online payments
- Link your account with other business processes and apps such as messaging software Slack and accounting app Xero
- Add a payment option to your website with the merchant API
With Revolut’s paid business accounts, you’ll also get:
- Priority 24/7 support
- Payment approval
- Bulk payments
- Expense management
- Free local and international payments
What are the account options for businesses?
The Revolut Business accounts are split between two types: companies and freelancers.
Fees and limits
Each Revolut Business account, whether it’s for freelancers or companies, comes with different costs and limits. We’ve listed some of the general fees that apply to all accounts:
- Monthly fees. Fees vary depending on the plan you choose starting from €0 up to €100 or more per month.
- Local transfers. Pay €0.2 per transfer after you reach your free local transfer limit.
- International transfers. Pay €3 per transfer after you reach your free international transfer limit.
- Extra Metal cards. €49 for each additional card.
How to sign up with Revolut Business
It’s easy to sign up for a business account and using our simple steps below, you could complete the short application in under 15 minutes.
- Click “Go to Site” from this page to be securely redirected to Revolut’s website “Business” to take you to the Business plans
- Complete the online application form. You’ll be asked to add and verify your email address, your phone number, along with some further personal and business details.
- Next, you’ll have to verify your identity by providing a valid ID and taking a selfie.
- Once you’ve signed up and chosen your plan, you can request a contactless Revolut card and start using your account.
Typically, it takes between one and seven days for Revolut to review your application. You can change or cancel your plan at any time during a 14-day trial period.
Revolut offers a number of benefits and features for businesses. What sets it apart from other digital banks offering business accounts is the number of account levels, allowing you to choose the account that best suits your needs.
There are a number of unique features on offer as well, such as letting you accept payments on your website through the merchant API as well as giving you local accounts in GBP and EUR.
If you’re unsure what account level to get, you can sign up for a free account to test out the features and see if it suits your business.
Customer reviews and opinions
Out of 5, the Revolut Business app has a rating of 4.7 from 5,900 reviews in the App Store. It’s also performing well on Google Play with a score of 4.5 from 7,450 Android app users (September 2021).
As Trustpilot reviews come from both personal and business customers, these ratings are general and refer to Revolut as an organisation. Drawn from more than 91,300 reviews, it has received a mark of 4.4 out of 5 stars and a rating of Excellent (September 2021). Some users praise the tools available through the app to help manage and save money and the free international transfers. Others have mentioned frustration at only being able to bank via the app, poor customer service for business account holders and being bombarded with advertisements.
How does Revolut Business compare with other digital banks in Ireland?
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.