Revolut starts offering savings accounts in Ireland - TechCentral.ie

Revolut has started offering instant access savings accounts to its more than 2.7 million customers in Ireland, offering interest of up to 3.49%.

Instant Access Savings complements an existing feature Revolut announced in Ireland earlier this year, which enables customers to invest their cash in money market funds to grow their wealth in either euros, dollars or sterling.

Instant access savings is the newest feature to Revolut’s all-star financial app, where customers will have, upon launch, access to interest on deposits at the following variable annual gross rates: Standard & Plus plans 2% AER, Premium 2.5%, Metal 3%, and Ultra 3.49%.

Joe Heneghan, partner & chief executive officer, Revolut Europe, said: “The Irish banking landscape is characterised by some of the lowest deposit rates in Europe, tricky or confusing limits, inaccessibility, and a real lack of competition. Today, Revolut is stepping in with a solution that makes saving money much better and much simpler for the people of Ireland.

“With our app now the preferred choice for managing finances every day for millions of customers in Ireland, we’re introducing Instant Access Savings accounts to offer customers great rates of up to 3.49%, full control over their money at any time, and interest paid out daily. Now when payday arrives, customers can confidently allocate a portion of their salary to their savings without having to worry about accessing it when they need it.”

TechCentral Reporters

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