Does Revolut Work In Ireland?

Does Revolut Work In Ireland?

Revolut is indeed available in Ireland, offering a comprehensive suite of financial services to both personal and business customers. Users in Ireland can access features such as individual accounts, international money transfers, budgeting tools, and investment opportunities. Additionally, Revolut provides physical and virtual debit cards, which can be customized and used for various transactions.

Operating as a bank in Ireland, Revolut holds a banking license for the European Economic Area (EEA). The company is incorporated and licensed in Lithuania, regulated by the Bank of Lithuania and the European Central Bank. This regulatory framework ensures that Irish customers can confidently use Revolut's services, benefiting from the same security and functionality available to users in other regions.

Fees and Charges for Using Revolut in Ireland

Here are some general costs that users might encounter:

• Monthly Plan Fees: Revolut offers several plans with different monthly fees, including Standard (Free), Plus (€3.99/month), Premium (€8.99/month), Metal (€15.99/month), and Ultra (€45.00/month).
• Transaction Fees: Transactions are generally free if you have the currency in your account. Receiving money is free for bank transfers to your EUR and GBP account details.
• Currency Conversion Fees: A variable fee depending on the currency. A 1% fair usage fee is applied when the exchange limit of €1000 per month is exceeded for the Standard plan. Plus plan has a fair use limit of €3000 per month with a 0.5% fee for amounts over this. Premium, Metal, and Ultra plans have no fair use limit. A 1% weekend fee is applied for exchanging currencies from 5 pm Friday to 6 pm Sunday, New York time.
• Withdrawal Fees: Standard Plan: Free up to 5 ATM withdrawals or €200 per rolling month, then a fee of 2% of the withdrawal value (minimum €1). Plus Plan: Free up to €200 per rolling month, then a fee of 2% of the withdrawal value (minimum €1). Premium Plan: Free up to €400 per rolling month, then a fee of 2% of the withdrawal value (minimum €1). Metal Plan: Free up to €800 per rolling month, then a fee of 2% of the withdrawal value (minimum €1). Ultra Plan: Free up to €2000 per rolling month, then a fee of 2% of the withdrawal value (minimum €1).
• Account Maintenance: Free for all plans.
• Card Fees: Getting a card is free for the first card plus delivery cost; replacement cards have varying costs depending on the plan. Virtual cards are free to generate.
• Currency Exchange Fees: Include a variable fee and additional fair usage and weekend fees.
• ATM Withdrawal Fees: Apply after exceeding the free withdrawal limit for each plan.

Is Revolut the Best Option in Ireland?

Even though Revolut is available in Ireland, it might not be the best option for all users due to certain limitations and restrictions that could impact the overall user experience.

• Fair usage fees: Applied when exceeding the plan's exchange limit.
• Weekend fees: A 1% surcharge for currency exchanges from Friday to Sunday.
• ATM withdrawal limits: Fees apply after exceeding the free withdrawal threshold.
• Varying fee structures: Can complicate choosing the right plan for users.
• Tracking limits: Monitoring fair usage limits can be frustrating for Standard and Plus plans.

Alternatives to Revolut in Ireland

1) OneSafe

OneSafe is a leading alternative payment solution in Ireland, offering a seamless blend of traditional and Web3 financial services. Key features include simple onboarding, global payments, and multi-currency support. With lower fees and superior customer support, OneSafe stands out as a user-friendly and cost-effective option for modern businesses.

OneSafe Reviews

Users have praised OneSafe for its comprehensive banking services, highlighting features like ACH, Crypto, Wire deposits, and Virtual cards. They appreciate the platform's support for most businesses, making it a preferred choice for many. The positive feedback underscores OneSafe's commitment to providing versatile and user-friendly financial solutions.

2) Wise

Wise offers a multi-currency account, international money transfers, and a globally accepted debit card, making it a strong alternative payment solution in Ireland. With features like Wise Business and Wise Assets Europe, it provides cost-effective, transparent, and secure financial services for both personal and business users.

Wise Reviews

Wise has an overall rating of 4.7 out of 5 based on 87 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval.

Check out more Wise reviews here.

3) Paypal

PayPal is a versatile payment solution in Ireland, offering features like encrypted payments, global money transfers, and flexible payment options such as "Pay in 4" and PayPal Credit. Users benefit from cash back offers, a high-yield savings account, and the ability to buy and sell cryptocurrencies.

Paypal Reviews

PayPal has an overall rating of 4.4 out of 5. Users have reported high transaction fees, issues with customer support, and occasional problems with account verification and fund holding.

Check out more PayPal reviews here.

Frequently Asked Questions about Revolut in Ireland

Is Revolut available for both personal and business accounts in Ireland?

Yes, Revolut offers services for both personal and business accounts in Ireland.

Are there any fees for international money transfers with Revolut?

International money transfers are generally free if you have the currency in your account.

What are the ATM withdrawal limits for Revolut in Ireland?

ATM withdrawals are free up to a certain limit, depending on your plan.

Does Revolut charge for currency exchanges on weekends?

Yes, a 1% fee is applied for currency exchanges from Friday to Sunday.

Can I use Revolut's virtual debit cards in Ireland?

Yes, Revolut provides virtual debit cards that can be used for various transactions in Ireland.

Begin Your Journey with OneSafe Today!

Choosing the right payment solution in Ireland is crucial for managing your finances effectively. While Revolut offers various features, exploring alternatives like OneSafe can provide additional benefits. OneSafe's blend of traditional and Web3 financial services makes it a compelling option. Sign up to OneSafe today and experience seamless financial management.