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Revolut review Ireland

A current account with smart budgeting tools, free global spending, cryptocurrencies and more.

Revolut is a digital banking app and card designed to help you easily manage and spend your money. It’s a good option for those who want a simple way to manage their money, to save on foreign currency or want access to premium features such as buying cryptos.

This review covers what you need to know about Revolut in Ireland, including how it works and what it costs, to help you decide whether Revolut is right for you.

1.7 ★★★★★ (3 reviews) Write a review

€0

Maintenance fee

€1

ATM fee

0.5%

Currency conversion fee

Details

Product NameRevolut Standard
Fee periodMonthly
Maintenance fee€0
Card deliveryUp to 9 working days
Free ATM withdrawal limit€200 per month
ATM transaction fee€1 + 2% per withdrawal
ATM transaction fee - non-Euro€1 or 2%
Currency conversion fee0.5%
Supported currencies

28

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More Info

How does Revolut work?

Revolut is a digital banking app that lets you spend and manage your money globally at a minimal cost. When you sign up, you will need to choose between 4 account tiers: Standard, Plus, Premium and Metal. Prices start at €0 per month for the Standard account and go up to €13.99 per month for Metal.

All 4 account types come with a Euro IBAN account, a UK current account and a bank card so you can spend your money. You can spend in over 150 currencies at the interbank exchange rate (the same, lower rate bank’s use to exchange money to other banks) as well as enjoy no-fee exchanges with 30 fiat currencies. There are a number of features that come with each account tier, such as free ATM withdrawals, as well as exclusive features that come with the paid accounts.

Must read: Revolut is an official bank in Ireland

Revolut is now officially operating as a bank in Ireland. It was granted a full banking licence from the European Central Bank.

Customers that upgrade to Revolut Bank will be able to apply for credit cards and personal loans. Any deposits held within Revolut Bank are now covered up to €100,000. This deposit guarantee protection is backed by the Bank of Lithuania’s deposit guarantee scheme. In 2020, as the UK licence became invalid post Brexit, Revolut decided to move its Irish accounts from the UK to Lithuania so that customers were still covered under EU law.

Key features of Revolut

Payments and budgeting

  • Apple Pay and Google Pay. You can pay with either Google Pay or Apple Pay using Revolut.
  • Pay friends. You’re able to pay other people with ease and use the Group Bills feature to divide a group spend. Or send links and QR codes to friends reminding them to pay you.
  • View spending habits. Using analytics, your spending will be categorised by type of transaction, by the merchant or by the country.
  • Organise bills. Use Revolut Pockets to stay on top of all your bills and other spending with automatic payments.
  • Manage subscriptions. Organise all your subscriptions in one place, find out when free trials end or block subscriptions you no longer want.

Cards and banking needs

  • Current account and IBAN. You get a UK account number and sort code as well as a European IBAN. You can set up recurring payments, withdraw cash at ATMs, make contactless payments and use both Apple Pay and Google Pay. You’ll be able to view your balance on a spending-visualisations screen.
  • ATM withdrawals. Pay no fees on withdrawals ranging from €200-€800 (2% of withdrawal amount fee thereafter with a minimum of €1 per withdrawal).
  • Pay Later. This “buy now pay later” function can be activated in the app and is available for customers in Ireland. It can be used in-store or online and allows users to spread the cost in 3 monthly instalments. There is a fee of 1.65% of the purchase price if you do use this function.
  • Control your card and account. You can lock and unlock your card in the Revolut app as well as set monthly spending limits.
  • Kid’s account included. Revolut <18 (formally Revolut Junior), is a money management platform aimed at children aged six to 17 years old. This feature lets parents or guardians securely manage their child’s spending in a sub-account within the app.

Investing

  • Save money. Revolut’s Vault feature lets you build up funds for a specific funding goal. Keep in mind it doesn’t pay any interest like a normal savings account, but it can be helpful for saving towards short-term goals.
  • Invest in cryptocurrency. You can invest in over 30 cryptocurrencies including Bitcoin, Ether, Ripple and Stellar. Revolut lets you invest from just €1. You can then sell and transfer your crypto, set up price alerts and auto exchanges and track mark movements in real-time.
  • Invest in commodities. You can invest in gold and silver via the Revolut app and stay on top of the prices in the markets. You can also round up spare change in commodities or keep it in a Revolut vault.

Travel

  • Make international payments. The Revolut app lets you transfer money to 30+ currencies at the interbank exchange rate (the same rates banks give each other). And transferring money to other Revolut users is free.
  • Spend globally fee-free. All spending abroad is charged at the interbank rate.
  • Book travel. Revolut’s Stays is its travel-booking feature. You can access Stays in your Revolut app and book a range of accommodations. No booking fees apply and you can earn up to 10% cashback on your booking.

What are the card options?

Revolut offers 4 account tiers: Standard, Plus, Premium and Metal. Each of these accounts come with different levels of benefits and a different monthly fee.

Offers and promotions

We don’t have any promo codes for Revolut at the moment. However, you can earn up to 10% cashback when you use Revolut’s Stays to book accommodation for your next trip abroad. No booking fees apply.

Buying crypto on Revolut

When it comes to cryptocurrencies, Revolut stands out from its competitors. In 2017, it became the first challenger banking brand to let customers buy cryptos via its app.

This makes it extremely easy for anyone to buy cryptocurrencies like Bitcoin with Revolut. Revolut’s aim is to make cryptos more accessible, so you don’t have to be a tech crypto whizz to get your hands on them.

  • Cryptocurrencies. Customers have access to many different cryptocurrencies, including popular ones such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Ripple.
  • Exchanges. Exchange one of the base currencies in the app for one of the crypto options. So, change euros into Bitcoin, or change GBP into XRP. The choice is yours.
  • Real-time rates. Real-time cryptocurrency graphs show you current rates. Plus set up price alerts to hear when your cryptocurrency hits a certain value.
  • Fees. Revolut charges a 2.5% markup on cryptocurrency transactions for Standard and Plus users (and 1.5% for Premium and Metal users). Revolut says it gives the best possible exchange rates but it could still be worth taking a look at other options if you’re seeking to delve into cryptocurrencies.
  • Send to friends. Transfer cryptocurrencies to other Revolut users if you wish to.
  • Risks. Revolut does warn that the value of cryptocurrencies can rapidly increase or decrease at any time, so you as the customer are at risk. As well as gains, you could make some serious losses. Unlike the rest of Revolut’s services, cryptocurrencies are not regulated.

Cryptocurrency services aren’t regulated in Ireland – there’s no consumer protection. Your capital is at risk.

    Revolut fees

    Revolut has a certain number of charges to be aware of:

    • Monthly fees: You will pay no monthly fee for the Standard account, €2.99 for Plus, €7.99 for the Premium account and €13.99 for the Metal account. However, paying the monthly fees for the whole year can save you around 20%.
    • ATM fees. A 2% ATM fee will apply if you withdraw over the monthly limit for your chosen account (with a minimum of €1 per withdrawal): €200 per month for Standard, €200 per month for Plus, €400 per month for Premium and €800 per month for Metal.
    • Currency exchange fees. If you have the Standard or Plus account you are limited to Up to €1,000 per month, after which a 0.5% fee is charged.
    • SWIFT transfers. Premium and Metal account holders are entitled to one free SWIFT transfer per month.
    • Investments markup. There is a markup on cryptocurrencies and commodities exchange for all accounts. For Standard and Plus, you’ll be charged a 2.5% markup for crypto and 1.5% for commodities. Premium and Metal account holders are charged a 1.5% markup for crypto and 0.50% for commodities.

    Pros and cons

    Pros

    • Free UK and Euro IBAN accounts. Enjoy using your free UK and Euro IBAN accounts.
    • Fee-free ATM Withdrawl. Pay no fees on withdrawals ranging from €200-€800 (2% of withdrawal amount fee thereafter with a minimum of €1 per withdrawal).
    • Revolut <18. Open a Revolut <18 account (formally Revolut Junior) for at least 1 child (more Revolut <18 accounts can be opened with the higher tier accounts).

    Cons

    • No interest on savings. Although Revolut says the feature of daily interest on savings is in the pipeline, it’s not available in Ireland yet.
    • No cashback. Cashback on card payments is not available except for Revolut Metal users.
    • No overdraft. This means there’s no chance of you going into the red on your Revolut account. If a purchase exceeds your available funds, the transaction will be declined.
    • No phone support. Revolut does not offer phone support. However, Premium and Metal users do have access to the priority in-app chat option.

    Verdict

    Revolut is a great option for those that regularly travel, trade cryptocurrency or want budgeting tools and premium banking features. Each of the Revolut accounts are suited to different needs, so take time to consider the features and decide which account level will be useful to you. If you’re going to use all the features on offer, the Premium and Metal accounts are excellent options to consider. And you can save around 20% on the monthly maintenance fees by paying for the whole year in one go.

    If you’re unsure if you’ll use the features in the higher tier accounts, sign up for a free account first. If you find yourself wanting more after getting to grips with the entry-level accounts, you can easily upgrade to Revolut Premium or Revolut Metal later on.

    If you’re looking for exclusivity in the form of unlimited foreign exchanges and cashback on purchases, it’s the Revolut Metal account that you’ll want to turn to. You’ll find all these features and more. Just be sure to shop around and compare your options first.

    Experiences from other Revolut users

    Revolut scores 4.4 out of 5 based on 115,500+ reviews and is rated Excellent on Trustpilot.
    User ratings# of reviewsWhat do customers say
    4.4 / 5115,500+
    • “Revolut is so convenient and easy to use. Send and receive money, split bills, pay using local currency etc. I no longer handle cash. Great cash incentives too when invited friends sign-up!” — Louise L
    • “The best internet banking app for both occasional and everyday use. Very convenient for travel (currency exchange), as well as for home – virtual disposable cards. Never had a single issue with Revolut. Easy to set up and simple to use. Recommend!” — Tadas
    • “I love how easy it is to use Revolut and that I can use it for multiple purposes from banking and instant transfers to stock and crypto trading. However, I no longer use Revolut for larger transactions, since a transfer I made to a hotel for a booking was blocked for 3 weeks without any explanation. It was incredibly difficult and frustrating to deal with the customer service, one day they confirmed all is good and the money will arrive tomorrow, the next day they said they are investigating and it just got more and more confusing by the day. I find it highly risky for anything more serious because I feel I wouldn’t get proper support in case of any issue.” — KK

    *Note: Information provided is based on the reviews and rating on Trustpilot (7 September 2022).

    How to apply

    You can sign up to Revolut by clicking “Go to Site” so you can head to Revolut and register. You will need to be at least 18 years old. Once you’ve submitted the required personal details you need to confirm your email and then your identity. To verify your identity, jump into the profile section of the app and supply a government-issued ID and a selfie. After you sign up, you can request a contactless Revolut card and begin using your account.

    Compare Revolut with other digital banks in Ireland

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    • Monthly fee

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    Sign up for Revolut through Finder and receive €10. Just sign up through Finder, top up your account and make your first card payment to receive €10 credit to your account.


    Enjoy no monthly fee, no currency conversion fees up to €1,000 per month and hold an array of currencies in your account.
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    1 - 7 of 7
    Name Product Mobile view decorator DBS Monthly Fee Free ATM withdrawal limit Supported currencies
    Revolut Premium
    • Monthly fee

      €7.99

    • Free ATM withdrawal

      €400 per month

    • Supported currencies

      28

    €7.99
    €400 per month

    28

    Sign up for Revolut through Finder and receive €10. Just sign up through Finder, top up your account and make your first card payment to receive €10 credit to your account.

    A combined current account and IBAN account with unlimited free currency conversions and international transfers in many currencies.
    Money Jar Prepaid Mastercard
    • Monthly fee

      €2.99

    • Free ATM withdrawal

      N/A

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    N26 Smart
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      €4.90

    • Free ATM withdrawal

      5 free withdrawals per month

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      1

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    5 free withdrawals per month

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    Revolut Plus
    • Monthly fee

      €2.99

    • Free ATM withdrawal

      €200 per month

    • Supported currencies

      28

    €2.99
    €200 per month

    28

    Sign up for Revolut through Finder and receive €10. Just sign up through Finder, top up your account and make your first card payment to receive €10 credit to your account.

    Enjoy purchase, event ticket and returns protection, plus other innovative features with this lower-priced subscription plan.
    N26 Metal
    • Monthly fee

      €16.90

    • Free ATM withdrawal

      8 withdrawals per month

    • Supported currencies

      1

    €16.90
    8 withdrawals per month

    1

    Receive a stainless steel Metal card available in 3 shades, an insurance package and exclusive offers.
    N26 You
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      €9.90

    • Free ATM withdrawal

      5 withdrawals per month

    • Supported currencies

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    €9.90
    5 withdrawals per month

    1

    A smart IBAN account with no currency conversion fees, complimentary insurances and no ATM fees here or abroad.
    Revolut Metal
    • Monthly fee

      €13.99

    • Free ATM withdrawal

      €800 per month

    • Supported currencies

      28

    €13.99
    €800 per month

    28

    Sign up for Revolut through Finder and receive €10. Just sign up through Finder, top up your account and make your first card payment to receive €10 credit to your account.

    A premium account with an exclusive Metal card featuring insurances, cashback, concierge service, cryptocurrencies and more.
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    Frequently asked questions

    Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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