Revolut has started distributing Irish IBANS to customers in Ireland
Dublin: Revolut has started issuing Irish IBANs to its customers in Ireland. Revolut account holders began issuing new Irish IBANs beginning with the letters ‘IE’ last week. Customers with Revolut in Ireland currently have Lithuanian IBANs on their Eurobank accounts.
Because of the Single European Payments Area, some employers and service providers refused to accept an IBAN from another country. Therefore, customers who used a Lithuanian IBAN faced discrimination. This issue has been resolved. The new IBAN is a system that makes it easier for users to send and receive money.
Revolut has announced that existing customers will start receiving their new Irish account details at the end of this month. Customers will be able to use their Revolut account as their primary bank account by adding an Irish IBAN to the Deposit Protection Guarantee.
Customers have responded positively to the new move, according to Joe Heneghan, CEO of Revolut Europe. This system will be available to over 20 lakh customers in Ireland. He stated that they would be able to receive and spend their pay directly. Credit cards were also introduced in Ireland last month by Revolut.
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