Anybody here use Revolut for absolutely everything including salary?

JackieChang

I just checked my ulster bank fees and found that I've been charged to the tune of 100 euro this year. It's not a huge amount but I still don't like it.

I use revolut daily. I put some cash into it at the start of the month and use that for day to day stuff. Buying my milk & bread etc. and online shopping. Most of the cash stays in ulster bank for saving & bills.

I was thinking of just moving everything over to Revolut. Direct debits for bills, my salary, standing order for rent etc etc. and just shutting down my ulster bank accounts including the savings account. I get feckall interest anyway.

I'm aware there will be no possibility to lodge physical cash or cheques. But I literally can't think of the last time I had to do that. In fact I can't remember the last time I even touched a note of cash. Maybe sometime around the start of this year.

Have any of you moved everything over to revolut? What are the pros / cons? Do revolut direct debits work with Irish companies like electric ireland etc?

Thelonious Monk

Yes. It's a pain in the ass transferring all the direct debits, I didn't even know what some of them were, but I'm glad I don't give any money to Irish banks any more.

thomil

I'm operating a split setup, with most day-to-day transactions going through Revolut while salary, rent and direct debits go through a "normal" bank. I don't like having all eggs in one basket...

hynesie08

When they are granted an Irish banking licence I will move 99% over, I'll keep the ulster Bank account for the ticketmaster discount though.....

Psychedelic Hedgehog

Revolut treat their staff like absolute crap though. That alone is enough for me to give them a wide berth.

earlyevening

There's also the option of N26 - same kind of offering as revolut. I switched to them from BOI.

completedit

Be careful what you wish for. Digitalization of the banking further emphasizes the disconnect between you and your money. I might move further away from Revolut tbh

Chris_5339762

Just FYI if you have big sums in Revolut etc, they aren't covered under the Governments 100k credit guarantee scheme.

McGinniesta

I use it to keep my poker transactions off the credit card.

dotsman

Thelonious Monk wrote: »

Yes. It's a pain in the ass transferring all the direct debits, I didn't even know what some of them were, but I'm glad I don't give any money to Irish banks any more.

That's the spirit! I don't think we should do give our custom to any Irish business ever again. Because Irish businesses suck and British are just so much better. And their queen is so much better than our president - she even has her own show on Netflix!

Muahahaha

JackieChang wrote: »

I just checked my ulster bank fees and found that I've been charged to the tune of 100 euro this year. It's not a huge amount but I still don't like it.

In the same boat with Ulster Bank with charges of about 20 quid per quarter. So went scouting around to switch accounts and found that EBS are now the only free banking left in Ireland, they have no monthly fees and dont charge for all the day to day stuff other banks do. Im switching over to them at the moment as I dont want everything on Revelout. AIB and BOI both put up their banking fees lately too.

I found this page excellent for comparing bank accounts, youd be all day doing it on each banks website. EBS comes out the clear winner out of all of them
https://www.ccpc.ie/consumers/money-tools/current-account-comparison/?gclid=CjwKCAiAlNf-BRB_EiwA2osbxYIuZsAWK6PrWtTQcJoPf31zFNQaqdowl1A71KqrXufW0Cutx3tBIxoCdxwQAvD_BwE&gclsrc=aw.ds

GarIT

Revolut aren't a bank. Your money isn't guaranteed. In fact it's not even money, it's more like credit on a prepay phone.

N26 is a bank. Your money is guaranteed and it's also free.

KBC is also free for now if you deposit €2500 every month.

EBS are free but the website is a little limited.

Poor Uncle Tom

dotsman wrote: »

That's the spirit! I don't think we should do give our custom to any Irish business ever again. Because Irish businesses suck and British are just so much better. And their queen is so much better than our president - she even has her own show on Netflix!

Uuuuuooooh! so edgy we're all cut...

GarIT

Thelonious Monk wrote: »

Yes. It's a pain in the ass transferring all the direct debits, I didn't even know what some of them were, but I'm glad I don't give any money to Irish banks any more.

You know there's only 1 Irish Bank right? AIB (government owend) the rest are foreign banks just trading under names that sometimes has Ireland in them.

killbillvol2

GarIT wrote: »

Revolut aren't a bank. Your money isn't guaranteed. In fact it's not even money, it's more like credit on a prepay phone.

N26 is a bank. Your money is guaranteed and it's also free.

KBC is also free for now if you deposit €2500 every month.

EBS are free but the website is a little limited.

KBC deposit requirement is now €2000. I've paid zero fees since I switched to them a little over 3 years ago.

GarIT

killbillvol2 wrote: »

KBC deposit requirement is now €2000. I've paid zero fees since I switched to them a little over 3 years ago.

They have said a while ago that fees will be reviewed and they will probably follow the other banks. Maybe after COVID