Learn how to send money on Revolut effortlessly with our step-by-step guide. Send money via phone number, username, or to non-contacts.
Launched in 2015, Revolut is a British financial technology company¹. It’s available in many countries around the world, including Ireland.
In this article, we’ll go into what Revolut is, the services they offer, and the fees you need to know about when using it in Ireland. We’ll also take a look at Wise as an alternative provider to help you figure out if Revolut really is the best fit for your banking and finance needs.
When Revolut launched in 2015, their main focus was currency exchange and money transfers.¹ Today, they have personal and business accounts available which give access to a variety of banking, investment and travel related services.
Currently, Revolut is available to residents of the European Economic Area (EEA), the United Kingdom, Switzerland, Australia, Singapore, Japan and the United States of America. They have plans to expand to more locations around the world in future.⁹
In Ireland, Revolut offers a range of services and products to personal customers which include the following:
- Payment and card services
- Personal loans
- Budgeting and analytics tools
- Junior accounts
- Crypto and Commodities investment opportunities
- International transfers
- Currency exchange
- Revolut Shopper
Revolut personal accounts are divided into four tiers. The higher the tier, the more you pay and the more services you can access. Some of the extra fees charged for certain services also change depending on the plan, but we’ll come back to that later.
Here’s a quick look at the Revolut subscription fees associated with each plan if you were to pay monthly or annually.²
|€0 monthly||€2.99 monthly||€7.99 monthly||€ 13.99 monthly|
|€0 yearly||€29.99 yearly||€82 yearly||€135 yearly|
As you can see there’s a slight discount on the yearly payment plan to try and entice you to sign up for a longer period.
With all four of the Revolut personal plans, you’ll have access to the following services²:
- Free UK account details
- Free Euro IBAN account details
- Unlimited disposable virtual cards
- The ability to spend money in over 150 different currencies
- Free local payments and transfers to Revolut users³
Past that there’s some differences, so it’s a good idea to compare the four and see which plan suits your needs. Here’s a few of the services that vary between the Standard, Plus, Premium and Metal plans².
|Free ATM withdrawals||€200/m or 5x withdrawal||€200/m||€400/m||€800/m|
|24/7 Priority Support||No||Yes||Yes||Yes|
|Accident & Theft coverage||No||£1,000/y||£2,500/y||£10,000/y|
|An allowance of free international payments||No||No||1 free/m||3 free/m|
|No fee currency exchange (conditions apply)||£1,000/m||£1,000/m||Unlimited||Unlimited|
There are some additional fees on top of the monthly plan fees which apply to certain transactions or services. Here’s a couple to be aware of.
You’ll be charged a variable fee when sending payment to a non-Revolut card number via the Revolut app. This fee will be calculated in real time and shown to you in the app before you confirm the payment. The exact fee will depend on the transaction itself (for example, on how much you are sending and where to).³ ⁴ ⁵ ⁶
If you decide to make some investments using Revolut your fees will be based on your plan. The cryptocurrency exchange fee varies from 1.5% to 2.5%, while the commodities exchange fee varies from 0.5% to 1.5%.
When you transfer money internationally with Revolut the fees depend on where you’re sending the funds and in what currency.
Your transfer is fee free if it’s to another Revolut user, a local payment or is in Euros to a country outside of Ireland that’s within the Single European Payments Area (SEPA).³
There’s also small fee free allowance for Premium and Metal accounts.²
- Premium: 1 free international payment per month
- Metal: 3 free international payments per month
Outside of the free allowances, you’ll be charged a variable fee for making an international payment. The fee depends on the currency you're sending and you’ll be able to see it in the app before you make the payment.³
Revolut doesn't charge for you to receive money via bank transfer, but they do warn that there’s the possibility of third party fees being deducted by originating, intermediary or beneficiary banks.⁷
When you make a foreign currency exchange with Revolut they use a variable exchange rate based on the buy and sell rates they gather from different sources.³
There are also variable foreign currency fees that may apply and these are shown in the app before you complete the exchange. They could include some of the following charges³:
- 0.5% fee for exchanges made by Standard and Plus accounts over a monthly limit of €1,000.
- An uncommon currency exchange fee
- Fees for exchanges made while the market is closed
|🔎 Read more about how Wise uses the Mid-Market rate|
Each Revolut plan has monthly limits for free ATM cash withdrawals.²
|€200/m or 5x withdrawal||€200/month||€400/month||€800/month|
Once you’ve used up your monthly allowance, you'll be charged a Revolut ATM withdrawal fee.
From April 7 2022 this fee is 2% of the withdrawal with a minimum of €1 per withdrawal for all plan types. ³ ⁴ ⁵ ⁶
With each Revolut plan, it's possible to get a prepaid card that’s managed from within the app.
Here’s some of the Revolut card fees that apply from April 7, 2022 for the Standard plan³:
- First Revolut card: free (delivery fees applies);
- Replacement card: €6 + delivery
- Custom card: only available for Plus, Premium and Metal plan users and is subject to card stock availability.
|💡 To learn more about what the prepaid card can do, check out: Revolut card Ireland: All you need to know|
To get in contact with Revolut you can talk to them though the Revolut in-app chat. Premium & Metal plan users get Priority service.
If you need to block your Revolut card, you can do it in the app anytime, or call the automated phone-line +37052143608.⁸
You can also open online a Wise multi-currency account that allows you to convert and hold more than 40 different currencies, and receive payment like a local in 9+ currencies. You can get your own UK account number, Euro IBAN, US routing number, and more.
Your money will be exchanged using the real exchange rate and there are no hidden fees. There is no tiered pricing and you also don’t have to pay any monthly account maintenance fees.
With the multi-currency account you also get access to the Wise debit card. It works in over 150 countries around the globe and you can generate virtual debit card details anytime you need to.
To see how Wise and Revolut compare for yourself, try out the Wise pricing calculator.
- Revolut - About Us
- Revolut - Choose your plan
- Revolut - Personal Fees (Standard)
- Revolut - Personal Fees (Plus)
- Revolut - Personal Fees (Premium)
- Revolut - Personal Fees (Metal)
- Revolut - Will I be charged for an inbound transfer
- Revolut - Contact Us
- Revolut - What countries are supported?
Sources last checked on date: 6 March 2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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