Revolut, the payments business with over 1.7m customers in Ireland has opened a waiting list for its market-leading personal loan product, marking the fintech's first steps to launch its Revolut Bank services to Irish customers.
To apply for a Revolut personal loan, customers can apply instantly without needing to fill out complex forms, and will receive an answer on their loan application within seconds. Revolut Loans are also available to new customers, meaning even users who sign up today will be eligible to apply for a loan. Other lending products such as credit cards will follow later this year.
The move to launch Revolut Bank in Ireland follows the imminent withdrawal by Ulster Bank and KBC from the market. Revolut Bank credit products, and in time additional services, will be available to any new or existing Revolut customers.
Deposits held in Revolut Bank will carry deposit guarantee protection of up to €100,000 per user backed by the Lithuanian Deposit Guarantee Scheme.
To date, Revolut Bank has launched in 28 countries across the EEA and has proven enormously popular with customers seeking a new bank.
Revolut Europe CEO Joe Heneghan said
“We are delighted to launch Revolut Bank in Ireland, offering Irish consumers more competition and innovation.
With the imminent withdrawal of KBC and Ulster Bank from the market, it is clear that a new bank is needed to compete with legacy banks on price and service.
Customers can now register their interest in a Revolut Personal loan, and we look forward to delivering more innovative products this year.”
Currently, Revolut e-money customers in Ireland benefit from a standard plan that has no monthly or quarterly subscription fees and no charge for basic electronic payments within offered limits, as well as a host of innovative functionality.
