Revolut completes rollout of Irish IBANS to two million customers

The app has created an Account Switching Service which will help to transfer active standing orders and direct debits to their new IBAN

The move was rolled out to tackle IBAN discrimination, whereby an employer or company refuses to accept an IBAN that is not registered in the country that you are in.

Global fintech company, Revolut has completed the process of giving Irish IBANs to 2 million customers across Ireland.

Coming into effect this week, the company said the move would make it easier for Irish customers to use Revolut as their primary bank account, removing obstacles to setting up Direct Debits or having their salaries paid into their Revolut account.

The app has also created an Account Switching Service which will help to transfer active standing orders and direct debits to their new IBAN.

The move was rolled out to tackle IBAN discrimination, whereby an employer or company refuses to accept an IBAN that is not registered in the country that you are in.

"As we take our next step offering accounts with Irish IBANs, we hope to see more of our customers use Revolut as their primary account for a seamless experience," said Joe Heneghan, CEO of Revolut Europe.

The move to create Irish IBANs involved moving customers to the Irish branch of Revolut Bank UAB, its European business, and replacing their Lithuanian IBANs with Irish ones.

Customers were given two months’ notice that their accounts were to be migrated into the Irish branch in a phased manner. Revolut’s Irish customers are now being asked to update the IBAN details they use for any existing Direct Debits or regular payments into their account, replacing their old IBAN beginning with ‘LT’ with their new ‘IE’ IBAN number.

Following the apps new IBAN for Irish customers, Revolut has also launched its Credit Card, including loans with what the app calls "the lowest rate in the Irish market for loans under €20,0001.

Additionally, car insurance will soon be the latest product as part of the super app’s offering, with customers already signing up to its waitlist ahead of its official launch in the coming months.