The company says the move will improve its Irish customers' experience
Revolut has announced that it will begin offering Irish bank account details in the coming months.The move will follow the financial technology company opening an Irish branch of its European business - Revolut Bank UAB.As it stands, Revolut customers in Ireland have a Lithuanian IBAN in their Euro bank account.
However, the company has said that it will migrate its Irish users to the Irish branch of Revolut Bank UAB and replace their Lithuanian IBANs with Irish ones. Customers in Ireland will begin to receive emails from Revolut this week, in which the benefits of the change will be explained."Until now, some Revolut customers may have experienced IBAN discrimination using their Lithuanian IBAN," the company's statement reads.
"For example, an employer or service provider may have refused to accept an IBAN from a different country within the Single European Payments Area .The company also said that an account with an Irish IBAN will be"better suited to use as a primary account for getting your salary paid directly into Revolut, making payments via direct debit and paying utility providers directly from your Revolut account".
"Additionally, the move by Revolut will also make it far easier for customers to switch their bank account from traditional banks to Revolut," it added."Now with an Irish IBAN, customers can get the lowest price and best service when they choose Revolut as their primary bank account."
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