Revolut, the digital banking solution with 18 million customers, just keeps getting better

Revolut recently created a waiting list for customers in Ireland looking for personal loans, marking the first step in rolling out Revolut Bank services in the country. The company now plans to launch loans and other banking services like credit cards later this year.

Daragh Cassidy, Head of Communications at Bonkers.ie, said: “It will be interesting to see how Ireland’s main retail banks AIB, Bank of Ireland and Permanent TSB react” and went on to say that he expects Revolut Bank’s interest rates to be “extremely will be competitive”.

Revolut is an app and its main benefit is that you can transfer money to another Revolut user without having to enter their IBAN or use a card reader. It’s very handy when you’re raising money for a gift or when you’re going out to dinner and want to split the bill. When traveling abroad, you can pay for goods in local currency, without expensive transaction fees and exchange rates that match the interbank rate.

The company has also announced that it has launched a payroll function for customers using its UK business service.

Employers with a Revolut Business account can now integrate the new payroll product with the company’s other finance-related services. Revolut hopes this will help resource-constrained SMBs make paying their employees faster and easier.

Revolut Payroll is currently only available in the UK and costs businesses £3 for each active employee per month.

The app also gives its users access to US stocks and a growing selection of cryptocurrencies, giving easy access to users with little or no knowledge of crypto trading.

For home users, it’s free to set up and easy to use. You can visit Revolut’s login page here.