By Richie Lennon
At a glance
Revolut Business can suit an Irish business that wants international payments, team cards and accounting integrations. Basic starts at €10 a month, so it is not a free business account. Eligible deposits with Revolut Bank UAB are covered by Lithuania’s deposit insurance scheme up to €100,000 per depositor across that bank. Our advice is to keep a second banking route for essential payments and cash access.
A good banking app makes payments easier. It does not remove the need for a cash plan.
We would not rely solely on Revolut to hold serious business cash. We like the day-to-day tools, but cards, payments and documentation checks can still interrupt access. If wages and supplier payments depend on one account working every time, your business has a vulnerability worth fixing.
For us, the question is whether Revolut fits your finance operation. Compare the cost, access and controls you need, then decide which role it should play.
Understanding Revolut Business
Revolut Business is a business bank account with tools for payments, currencies, cards and spending. It is separate from a personal Revolut account and from Revolut Pro.
Its Irish Business Terms identify the provider as Revolut Bank UAB acting through its Irish branch. The current account balance is held as a bank deposit. Approval remains subject to the bank’s business eligibility and checks. Read the Irish terms before opening an account.
For an Irish agency paying overseas freelancers, or an e-commerce business buying stock in another currency, the useful features include:
- Currency accounts and foreign exchange.
- Local and international transfers.
- Cards for team spending.
- Connections to accounting software.
- Spending controls and approvals, where included in your plan.
- Merchant payment services, subject to separate terms and fees.
Choose the features your business will actually use. A long feature list does not tell you whether next Friday’s payroll can be paid if there is a problem.
Pros and Cons of Revolut for Small Businesses
Pros
International trading. Holding and paying in different currencies can simplify overseas receipts and supplier payments. Compare the exchange quote and total charges rather than assuming every conversion is free.
Team spending. Individual cards and clear permissions make it easier to see who spent what. They work best when staff submit the supporting receipt and somebody checks the business purpose.
Accounting connections. Revolut’s Xero integration can feed transactions into the accounts. That reduces manual entry, but it does not decide the VAT treatment or reconcile the books for you.
Visibility. You can see movements quickly. That helps with payment control, provided you also know which wages, taxes and supplier bills are committed but not yet paid.
Cons
Access can be interrupted. Revolut’s terms allow it to restrict payments for security, fraud prevention or legal reasons. Information requests can also delay transactions. Keep documents current and a usable second banking route.
Support is digital. The ordinary support route is in-app or browser chat. The automated card-blocking phone line does not connect you to a human adviser. Decide whether that suits the way your team handles urgent payment problems.
It does not accept cash or cheque deposits. If your business regularly receives either, you will need another arrangement. Revolut confirms this limitation.
The account does not settle every funding need. If you need an overdraft, borrowing or another facility, arrange it separately and confirm the terms. Do not close a banking relationship until you know what replaces it.
Revolut in Ireland
The current Irish plan page lists an IE IBAN across its business plans. An IBAN is the international account number you use for bank transfers; the IE prefix identifies Irish account details. It does not determine which deposit guarantee scheme covers the balance.
Is your business money protected?
Eligible deposits with Revolut Bank UAB are insured by the Lithuanian Public Institution Deposit and Investment Insurance, generally up to €100,000 per depositor. Balances across accounts at that bank are added together. It is not €100,000 for every currency account or savings pot. Eligibility and exclusions apply. See the deposit insurance information.
Do not assume that a different product inside the app has identical protection. Flexible Cash Funds are an investment product provided by a different entity, rather than a current-account bank deposit.
Deposit insurance and day-to-day access answer different questions. Insurance concerns an eligible deposit if a bank fails. It does not make a delayed supplier payment arrive on time.
That is why we favour separating everyday spending from cash reserves and keeping another account available. A second account needs enough funds and working permissions to be useful. An empty account that nobody can access will not solve Friday’s problem.
Put the controls around the account
Give people their own authorised access rather than sharing a login. Set card limits and payment approvals appropriate to their role. Decide who reviews a new supplier’s bank details and who can change them.
If you trade internationally, retain the invoices and agreements that explain large transfers. A document request is easier to handle when the paperwork is already organised.
Understanding Revolut Fees
These are the starting prices and selected allowances on Revolut’s Irish plan page, checked on 10 October 2026. The full fee schedule and your app quote govern what you pay.
| Plan | Starting monthly price | Local transfer allowance | Currency exchange allowance |
|---|---|---|---|
| Basic | €10 | 10 | €1,000 |
| Grow | €35 | 100 | €15,000 |
| Scale | €125 | 1,000 | €60,000 |
| Enterprise | Custom | Custom | Custom |
The plan page lists €0.20 for local transfers beyond the allowance, a 0.6% exchange fee above the monthly allowance and a 1% fee for exchanges outside market hours. International transfers, card delivery, ATM withdrawals and merchant services can add charges. Compare the current Irish plans and Basic fee terms.
Compare the total bill
Take your last three months of banking activity and list local transfers, overseas transfers and currency exchanges. Add the features you need, including bulk payments and approvals. Then price that activity against the available plans and other banks.
A €25 difference between two subscriptions tells you little if one avoids substantial exchange charges or includes controls you need. Equally, upgrading for features you never use is still an unnecessary cost.
There is no free Revolut Business plan in the current Irish pricing table. A promotion or introductory offer is not a permanent free account.
Transferring Money from Revolut to Bank Accounts
You can send a transfer from the Business app or website. For an Irish euro recipient, use the beneficiary’s correct name and IBAN, together with any other details requested. For other countries and currencies, the app may ask for local account details or a BIC or SWIFT code.
Check the payment route, expected arrival and fee before confirming. Some transfers are instant; other routes take longer or need checks. There is no single one-to-three-day promise that covers every destination.
For wages, tax and time-sensitive suppliers, work back from the date the payment must arrive. Keep enough money in the payment account and leave time to resolve an issue.
Connect the account, then finish the bookkeeping
Once the bank feed is connected, reconcile the transactions against invoices and receipts. Check transfers between your own accounts so they are not recorded as sales twice. Where you use multiple currencies, confirm each account is mapped correctly and exchange differences are treated properly.
A bank feed is a route for data. Accurate monthly accounts still need classification, reconciliation and review. Our accounting software guide explains how the wider stack should fit together.
Conclusion
Revolut Business can be a useful operating account for an Irish business, especially where currencies, overseas suppliers and team spending matter. Use the current fees and your own transaction pattern to judge the cost.
Our preference is to use the tools while avoiding dependence on one banking route. Know where your reserves sit, who can release a payment and how the business would keep paying if access were interrupted.
If your accountant can confirm the bank feed is connected but cannot explain the cash available after your next commitments, the finance job is not finished. Our small business accounting services cover the wider support a growing owner needs.
If your Irish business turns over €250,000 or more and you want banking, bookkeeping and cash planning to work together, book a Finance Fit Call.
FAQs
No. The current Irish pricing starts at €10 a month for Basic, with paid higher tiers. Check any promotional offer separately from the ongoing price.
Eligible deposits with Revolut Bank UAB generally have Lithuanian deposit insurance up to €100,000 per depositor across the bank. That does not remove fraud risk or guarantee uninterrupted access. Use appropriate controls and keep a second payment route.
Compare the complete cost of your actual transactions, including subscription, transfers, exchange and merchant charges. It can suit international activity, but there is no universal cheapest bank for every business.
It does not take cash or cheque deposits, ordinary support is digital, and account or payment checks can interrupt access. Confirm separately how you will meet borrowing and other banking needs.
Yes, by bank transfer using the correct account details. Card acceptance and other merchant services have their own eligibility, terms and charges. Keep the sales record separate from the amount paid out after fees.
Ask your accountant to check how it fits the bookkeeping, cash commitments, permissions and other accounts. A useful review produces a workable process, rather than simply approving the app.
Still got questions? Let us know what you’re looking for.
