Irish IBAN to two million Revolut customers
Dublin: Revolut, an online banking firm, has issued Irish iBANs (IBANs) to two million of its Irish customers and is in the process of issuing iBANs to the remaining ones.
IBAN is a system that allows users to send and receive money more easily and directly. Until now, Revolut customers in Ireland have used Lithuanian IBAN in their Eurobank accounts. All of them are being transferred to Revolut Bank UAB, the bank’s Irish branch, by giving them a new IBAN.
The bank has given customers two months to migrate their accounts to the Irish branch. The bank also recommends that they use the new IE IBAN rather than the previously used IBAN beginning with LT.
The company’s Europe CEO, Joe Heneghan, said more than half of Ireland’s customers with a smartphone had adopted the new iBan. Heneghan stated that with the next phase of this new super financial app, he is confident that more customers will choose Revolut as their primary account.
Revolut announced plans to offer car insurance in Ireland last month. Recently, the company began offering loans and credit cards.
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