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.
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.
Currency conversion fee
What is Revolut and how does it work in Ireland?
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 four account tiers: Standard, Premium, Plus and Medium. Prices start at €0 per month for the Standard account and go up to €13.99 per month for Metal.
All four account types come with an 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.
Key features of Revolut
- 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.
- 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).
- Spend globally fee-free. All spending abroad is also charged at the interbank rate.
- 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 or use the split-bill feature to divide a group spend.
- View spending habits. Using analytics, your spending will be categorised by type of transaction, by merchant or by country.
- Control your card and account. You can lock and unlock your card in the Revolut app as well as set monthly spending limits.
- Save money. Revolut’s Vault feature let 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.
- Kid’s account included. Revolut Junior is a money management platform aimed at children aged seven to 17 years old. This feature lets parents or guardians securely manage their child’s spending in a sub-account within the app.
- 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.
How do the Revolut cards work?
Revolut offers four account tiers: Standard, Plus, Premium and Metal. Each of these accounts come with different levels of benefits and a different monthly fee.
Revolut charges: Fees, rates and limits
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.
- ATM fees. A 2% ATM fee will apply if you withdraw over the monthly limit for your chosen account: €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 0.25% for commodities.
Revolut is a great option for those that travel often, trade cryptocurrency or want budgeting tools and premium banking features. Each of the Revolut accounts suit 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.
If you’re unsure if you’ll use the features in the higher tier accounts, sign up for a free account first. Then, 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 concierge, priority customer support 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.
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
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.