MONEY APP REVOLUT is to start offering Irish bank account details in the coming months.
It has set up an Irish branch of its European business, Revolut Bank UAB, to allow customers to begin using Irish IBAN numbers.
Currently, Revolut customers in Ireland have a Lithuanian IBAN in their Euro bank account, but the company will soon migrate Irish customers to the Irish branch and replace their Lithuanian IBANs with Irish ones.
The app has more than two million customers in Ireland.
Customers in Ireland will begin to receive an email from Revolut this week explaining how it works that they will be given two months’ notice that their accounts are to be migrated in a phased manner.
A further notification will take place once migrated.
Revolut had been increasing its offering to Irish customers last year due to the the exit from the market of Ulster Bank and KBC Bank.
Chief executive of Revolut Europe Joe Heneghan said the new move will allow users an app much like that of a traditional bank .
“We’re proud to be opening our Irish branch soon. With over two million customers in Ireland, we are constantly looking for ways to improve our customers’ experience,” he said.
“Our customers can get their salaries paid directly into Revolut hassle-free, easily make direct debits, and more with the help of an Irish IBAN.
“We recommend that our customers keep an eye out for an email from us over the coming weeks, as we roll out the IBAN migration of our customers in Ireland.”
Consumer advice website Bonkers said that, until now, some Revolut customers may have experienced “IBAN discrimination” when using their Lithuanian IBAN.
The company has over 25 million customers globally.
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