How many of Ireland’s 1.7 million Revolut customers will be affected by the changes in the coming months? a guide for all

Revolut is making some big changes to its service in Ireland after officially launching as a bank earlier this year.

And there are some big dates coming up in June and July that all of Irish Revolut’s 1.7 million customers need to know about.

Here are the changes coming to customers in the coming months:

1. Revolut will migrate users to Revolut Bank on July 1

Who is affected: The 1.7 million Irish customers

What action is needed: you don’t need to do anything

On July 1, customers will migrate to Revolut Bank and become customers of the bank, but you can still use your Revolut account to make payments and hold funds as you always have.

From that date with all the services and products provided by Revolut Bank UAB. The funds in your current account will be protected up to €100,000 by the Deposit Guarantee System.

Revolut Bank can also offer personal loans from €2,000 to €30,000 and plans to launch credit cards for customers soon.

Revolut has also confirmed that they are “committed” to giving Irish users ‘IE’ IBANS this year, to resolve the issue of IBAN discrimination faced by users.

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2. Some customers need to apply for new Revolut cards

Who is affected: Thousands of Irish customers

Action: Request a new free debit card

In a separate update, Irish Revolut customers are also urged not to forget that their Revolut cards will stop working after June 21 due to some ‘behind the scenes’ changes.

Customers will need to upgrade their current card to continue using Revolut’s card services in the coming months.

In an email to customers last month, the company said: “We’ve been working hard to improve your card payment experience and have made some changes behind the scenes.

“To make sure your card takes advantage of these changes, please request a free replacement debit card for each of these cards.

“Your Revolut account and any other Revolut cards you have will continue to function as normal.”

“Your cards will continue to work until 06-21-2022. Don’t worry, we’ll send you some reminders before your cards stop working.”

3. mechanging international transfer fees

Who is affected: The 1.7 million Irish customers

Action: Use Revolut’s price calculator to see how much an international transfer will cost you

Revolut said they are “updating and simplifying the fee schedule” continue to offer low international transfer fees to customers while covering costs.

Over the past year, Revolut launched 12 new coins, mostly in Asia and Latin America, with at least 10 more in the works.

A Revolut spokesperson said: “ Premium and Metal free monthly allowances for international transfers will be replaced at a 20% and 40% discount, respectively, regardless of how many international transfers a customer sends per month.

“We have a pricing calculator on our website and in the app that allows customers to see exactly how much they would pay for any given transfer and how much the recipient would receive.

“We are in the process of creating a new tool that will allow customers to compare Revolut rates with other providers and we will share an update with you when it becomes available.”

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