Revolut are rolling out a new feature that will put it in major competition with Irish banks and will see Irish customers getting a major boost thanks to high interest rates.
The feature compares with demand deposit rates of a fraction of 1% from AIB, Bank of Ireland and PTSB, making it set to be hugely popular with customers.Read more:Social welfare Ireland: Workers can claim a payment of €345 on top of their wages Those with a Premium account will get a rate of 2.5%, with 3pc paid on the Metal account, and Ultra account holders getting 3.49pc. There is a fee of €55 a month, or €540 a year, for an Ultra account.The app, which burst onto the scene a few years ago, already offers motor insurance, personal loans, credit cards, buy-now-pay-later products and investment products that enable customers to invest in money market funds to grow their wealth in either euro, dollars or sterling.