How to send money on Revolut Ireland: Guide for transfers via phone, username and more

If you have a new Revolut account or are considering opening one you might have a couple of questions about how it works and what you need to do to make a transfer.

To help out, we’ve created this quick guide that runs through how to send money with Revolut, including the steps, time frames and available destinations.

Along the way we’ll also let you know a little bit about Wise, a money service transmitter that allows you to make international transfers to 160+ countries.

Send money with Wise 🌍

How to send money on Revolut: Step by Step

To send money with Revolut there’s a general process that you need to follow. We’re going to go through this process and then look at a couple of variations.

How do I send money on Revolut?

To send money with Revolut there are three overarching steps¹:

1. Get the app and open an Revolut account
2. Add money into your account
3. Choose a recipient from your contacts list or add their account details
4. Enter the amount you want to send and confirm the transfer

You’ll then receive confirmation that the transfer has been initiated and can track it through the app.

How do you send money on Revolut to someone not in your contacts?

It’s likely that you’re going to run into a situation at some point where you need to pay someone who isn’t in your contacts. In this instance there are 4 options for how you can send them money using Revolut.²

1️⃣ Add them to your contacts before completing the transfer by pressing the plus (+) button in the top right corner then following the prompts to input and save their details
2️⃣ Send money be searching for their their Revolut username or phone number
3️⃣ Press in the QR code scanner located in the search bar and use it to scan the code generated in the other person’s Revolut app
4️⃣ Have them send you a Revolut payment link

How to send money on Revolut with phone number

If you know the recipient’s phone number you can use that to search for their Revolut account.³ Just go to ‘Transfer’, input their number and select the right person, before continuing with the payment.

How to send money on Revolut by username

In Revolut you can send money by inputting someone's username, known as their Revtag.³ All you need to do is:

1. Go to the ‘Transfer’ section of the app,
2. Put their Revtag into the search bar,
3. Select the correct profile
4. Then follow the instructions to complete the transfer.

To find out what your Revtag is, head to the ‘Revolut profile’ section of the app. You can then customise and share it with others.

Revolut transfer fees in Ireland 💰

If you send money with Revolut, you'll have free transfers in some cases and transfer fees in others. Check how it works:

Revolut transfers are free when:

• Between Revolut users (globally)
• As local payments (same country, same currency)
• Within SEPA (Single Euro Payments Area) ⁹

You pay for Revolut transfers in the case of:

• International transfers (outside SEPA) for non-Revolut users
• Revolut fees are calculated in real-time and vary based on what currency you are sending and where you are sending it.

In case of transfers in the local currency of the recipient country, they are subject to the minimum and maximum, varying from 0.3% to 2%, depending on the currency.¹²

Depending on your plan, you can have some discounts:

• Standard and Plus: Don't have a discount
• Premium: Have a 20% discount
• Metal: Have a 40% discount
• Ultra: Have a 100% discount.¹¹

🔎 Read more: Revolut alternatives in Ireland

What is the Revolut exchange rate?

When you need to convert your money into a different currency, Revolut uses its exchange rate. This rate is a variable exchange rate, and Revolut itself sets it.

Revolut charges an exchange fee and can change depending on the day, time, and currency you want to exchange. You also have some specific limits; see below for more info:

Revolut exchange fees

🗓 During the week: No fees are charged for exchanging currencies.
🕐 Time: Between 6 PM New York time on Sunday and 5 PM New York time on Friday)

🗓 On weekends: A 1% fee applies for exchanging currencies.
🕐 Time: (between 5 PM New York time on Friday and 6 PM New York time on Sunday

Revolut currency exchange limits

Each Revolut plan has a fee-free currency exchange limit.

• Standard and Plus: €1,000 + 0.5% fee for exceeding the limit
• Premium, Metal, and Ultra: Unlimited

Revolut applies the exchange fees regardless of your plan, so it will charge Standard and Plus customers who still need to reach their FX limit and Premium and Metal or Ultra customers.⁸ ⁹

Send money with Wise and always get the mid-market exchange rate

As we mentioned at the start, we’re also going to tell you a little bit about Wise. Wise is an international money transfer specialist that offers foreign currency exchange, international transfers, a multi currency account and debit card.

When you send money with Wise, you'll know all fees upfront, and Wise will convert your money using the mid-market exchange rate.

If you haven't heard of it before, the mid-market exchange rate is the midpoint between the buy and sell price of currencies on the exchange market.

Wise updates the rate every minute and doesn't add any markup or make money with the currency conversion.

Different from Revolut, Wise doesn't have separate limits for currency conversion or add extra fees depending on the day of the week you transfer money.

Using Wise you can send money abroad to over 160 countries. It offers a few different ways to initiate the transfer so you can select what works for you:

• Send money to another person’s Wise account searching for their name or email address
• Sync your contacts to your Wise account then select the recipient from the available accounts
• Transfer money to a bank account
• Input the recipients email address and Wise will send them a message asking for their bank details to complete the transfer
• Generate a link your recipient can securely input their bank details into to facilitate the transfer

Open your Wise Account
for free 🚀

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FAQ: How to send money on Revolut Ireland

How much money can I send on Revolut?

Generally Revolut doesn’t impose a maximum amount of money that you can transfer from Ireland.¹ That being said, some of the payment partners in their network might.

If there's a limit for the currency you’re trying to send it will pop up in the app before you complete the transfer.

Some specific limits:

SEPA transfers: Minimum limit is €2 and maximum limit is €100,000 for SEPA Instant.

GBP transfers to UK beneficiaries:

• Limit of £250,000 per transaction,
• £500,000 per day
• £1,000,000 per week.

You can't make more than 50 transfers in 24 hours or 200 transfers in 7 days.

JPY transfers to Japan: Limit of 1,000,000 JPY.¹⁰

If you need to send more than the allowable limit you may need to make multiple payments or consider another provider with higher limits.

If you use Wise to send money there are some limits on how much money you can send. This limit varies depending on the currencies involved and how you pay. If you’re sending from euro the maximum is 1.2 million EUR per transfer¹³, so it’s more than enough for most transactions.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

How long does it take to send money on Revolut?

The length of time it takes to send money with Revolut varies depending on the payment method.¹

• Transfers to another Revolut account are instant
• Card transfers usually take a few minutes
• International bank transfers vary from seconds to up to 5 business days depending on the destination of the transfer and the currency

In comparison, Wise can send your money from as little as a day to an instant on many of its popular routes. For some routes it can take up to a few business days, but for the moment, 55% of Wise transfers are instant.¹⁴

Send money with Wise

Can I cancel a money transfer on Revolut?

Unfortunately it’s not possible to cancel a Revolut transfer once it’s been processed. In a nutshell, this is because the money is already gone from your account so both you and Revolut no longer have it.⁴

If it was a transfer to an account that is closed or you accidentally input the incorrect account details, the transfer should simply bounce back. It is also possible to request Revolut’s assistance with a transfer recall.

If the transfer was to a card Revolut can only act if the receiving bank agrees to collaborate in returning the funds.⁵ The fastest way to find out is to speak to the bank yourself by calling their customer service line and providing the details of the transfer.

Why can't I send money on Revolut? ❌

If you run into problems while trying to send money on Revolut here’s a few ideas for what might be going on:

• The recipients details are incorrect
• A transfer or currency limit has been exceeded
• Profile permissions don’t allow transfers for a certain currency
• The recipient's bank has rejected the payment
• There are outstanding requests for your account, such as identity verification⁷

If a transfer fails you should get a notification and can find details for the failed transfer in the ‘Payments’ section of the app, under ‘Transfers’ then ‘Failed’. From there you can retry or delete any attempted payment on the list.

What currencies does Revolut support for money transfers?

With Revolut you can hold and exchange 29 different currencies such as euros, United States dollars, Canadian dollars and British pounds.⁶

Wise, on the other hand, gives you a few more options.

With a Wise Accountyou can send money to 50+ currencies. You can also have access to local account details in 9+ currencies, for example Euro, British pounds and US dollar, which allow you to send and receive money like a local.

Sources used:

1. Revolut - Money transfer
2. Revolut - Transfers to someone not in my contacts
3. Revolut - How can I send money by Revtag
4. Revolut - I want to cancel my transfer to a bank account
5. Revolut - I want to cancel my transfer to a card
6. Revolut - Currency exchange
7. Revolut - Why has my transfer failed
8. Revolut - Currency exchange fees
9. Revolut - Personal Fees
10. Revolut - Sending limits
11. Revolut - Fees for sending money
12. Revolut - International fees
13. Eligibility is subject to verification of customers' identity. Additional documentation may be required to send high volumes.
14. Transaction speed claimed depends on individual circumstances and may not be available for all transactions.

Sources last checked on date: 12 August 2023