Revolut Business Ireland Review 2026 - Irish IBAN, SEPA Instant, and Xero Integration

Revolut Business has become the default business bank for a large share of new Irish tech companies, agencies, and sole traders since it began issuing Irish IBANs through its Revolut Bank UAB Irish branch. For a typical Irish SME launching in 2026, Revolut Business offers faster onboarding, cheaper FX, better accounting integrations, and lower monthly costs than AIB or Bank of Ireland.

But Revolut Business is not a perfect replacement for a traditional Irish bank. There are no branches, no cash handling, no overdrafts, and deposit protection sits under the Lithuanian scheme rather than the Irish Deposit Guarantee Scheme. For cash-heavy businesses or those needing credit facilities, it pairs with a traditional bank rather than replacing it.

This review gives you the full picture.

Who Operates Revolut Business in Ireland

Revolut Business in Ireland is operated by Revolut Bank UAB through its Irish branch, established in 2024. Revolut Bank UAB is a specialised bank licensed and supervised in Lithuania, and authorised to operate across the EU under passporting rules. The Irish branch issues Irish (IE) IBANs to eligible business customers, which matters for Revenue, payroll, and setting up as a SEPA Direct Debit creditor.

Revolut Bank UAB is a separate legal entity from Revolut Ltd (the electronic money institution that originally launched Revolut). The business banking product on the Irish market in 2026 sits with Revolut Bank UAB, which is why your deposit protection sits under the Lithuanian Deposit Insurance scheme rather than the Irish Deposit Guarantee Scheme. Both schemes protect eligible deposits up to EUR 100,000.

Revolut Business Ireland Pricing 2026

Revolut Business offers four paid tiers plus a free Basic plan. Pricing is in euro, which is a relief after shopping Xero or HubSpot quotes in US dollars.

All plans include an Irish IBAN (where eligible), SEPA Credit Transfer, SEPA Instant, and basic card issuance. Higher plans include more free SEPA transfers per month, lower FX margins, and more free card spending. Monthly prices have changed several times in recent years, so check the Revolut Business pricing page for current tier costs and allowances before committing.

Transaction-based fees apply once you exceed plan allowances. For most sole-trader accounts, the Basic plan is enough for months or years.

Key Features for Irish Businesses

Irish IBAN

Since Revolut Bank UAB launched an Irish branch, eligible Irish business customers can receive an IE-prefixed IBAN rather than the previous LT IBAN. This matters in three specific scenarios:

1. Revenue. Some Revenue processes and Direct Debit mandates historically flagged non-IE IBANs as foreign. An IE IBAN removes that friction.
2. SEPA Direct Debit as a creditor. If you want to collect recurring payments from Irish customers by Direct Debit, many of the larger payment processors and creditor schemes require an IE IBAN.
3. Payroll. Paying employees from an IE IBAN avoids any perception that payroll is being paid from a foreign account, which occasionally causes employee questions.

An LT or EU IBAN is legally equivalent under SEPA, so an IE IBAN is convenience rather than legal necessity. But for most Irish businesses, having an IE IBAN on the card removes friction everywhere.

SEPA Instant

All Revolut Business plans support SEPA Instant Credit Transfer, which settles euro payments between Irish and EU accounts in under 10 seconds, 24/7. Traditional Irish bank transfers settle same-day or next-day. If you pay contractors, freelancers, or suppliers inside the EU, SEPA Instant is a noticeable productivity win.

Multi-currency and FX

Revolut Business holds balances in 25+ currencies and offers interbank FX rates up to plan limits, then low percentage margins beyond. For Irish tech companies invoicing clients in USD or GBP, this is typically cheaper than invoicing in euro and asking the client to cover FX, and much cheaper than converting through a traditional Irish bank.

Accounting integrations

Revolut Business has native bank feeds into Xero, QuickBooks Online, and Sage Business Cloud Accounting, plus API access for custom integrations. The Xero and QuickBooks feeds are reliable and near-real-time, which is a meaningful productivity gain over manual CSV imports.

Card issuance

You can issue physical and virtual debit cards to team members, with per-card spend limits and merchant category restrictions. Many Irish agencies and startups use Revolut cards as their primary expense-management tool before graduating to dedicated tools like Pleo or Soldo.

What Revolut Business Does Not Do

Be clear-eyed about the trade-offs:

• No branches. All support is in-app or via the web. If you value walking into a local branch, AIB or Bank of Ireland are still the default.
• No cash. There is no mechanism to deposit or withdraw cash. For hospitality, retail, and tradespeople handling cash, Revolut Business is usually a secondary account alongside a traditional bank.
• No overdrafts or business loans. Revolut Bank UAB does not offer overdrafts or working-capital lending in Ireland. You will still need AIB, Bank of Ireland, Microfinance Ireland, or alternative lenders for credit facilities.
• No Revenue ROS integration. Revolut is a current account provider, not accounting software. Revenue Online Service filing still happens through Xero, Sage, BrightBooks, or your accountant’s software.
• No PAYE Modernisation. Same point - that lives in your payroll software (BrightPay, Collsoft, Thesaurus, Sage Payroll), not in your bank.

Deposit Protection

Your Revolut Business deposits are protected up to EUR 100,000 per depositor by the Lithuanian Deposit Insurance scheme, which implements the EU Deposit Guarantee Schemes Directive. This is the same EUR 100,000 limit as the Irish Deposit Guarantee Scheme that covers AIB and Bank of Ireland.

In practice, the protection mechanics are equivalent for most Irish businesses. If you are holding balances above EUR 100,000, you should split deposits across multiple institutions regardless of which protection scheme applies.

Revolut Business vs Traditional Irish Banks

For most Irish tech companies, agencies, consultants, and e-commerce sellers launching in 2026, Revolut Business is the faster and cheaper default. Account opening is typically days, not the weeks or months AIB and Bank of Ireland can require for business accounts. FX is noticeably cheaper. Accounting integrations are better. Monthly fees are lower or zero.

For Irish businesses that need branch access, cash handling, overdrafts, merchant services from a local provider, or the comfort of an Irish-regulated primary bank, AIB Business or Bank of Ireland Business remain the default. Many Irish SMEs run both: an IE-IBAN Revolut Business account for day-to-day operations plus a traditional bank for credit facilities and cash.

Compare Revolut Business against AIB Business and Bank of Ireland Business on the business banking hub.

Revolut Business vs Wise Business and N26 Business

Among the EMI and EU neobank set, Revolut Business is the most Ireland-friendly option in 2026. Wise Business is better if your entire use case is international FX invoicing and receiving payments in multiple currencies, since Wise offers local account details in more countries. But Wise is not a bank, balances are safeguarded rather than deposit-insured, and Wise does not issue Irish IBANs.

N26 Business is a reasonable option for solo freelancers comfortable with a German IBAN. For Irish-registered companies that care about the IE IBAN, Revolut Business is the stronger choice.

Who Revolut Business Is Best For

• Irish tech companies and SaaS startups with 1-50 employees
• Sole traders and freelancers, especially in professional services, design, and technology
• Agencies invoicing international clients in multiple currencies
• Irish e-commerce sellers shipping abroad
• Consultants and contractors wanting a clean separation from personal banking

Who Should Look Elsewhere or Pair It

• Hospitality and retail businesses handling cash daily
• Construction firms needing overdrafts and trade credit
• Larger Irish companies requiring a local business banker relationship
• Any Irish business holding balances well above EUR 100,000 (split across institutions regardless of bank)

Verdict

Revolut Business is our first-choice business bank for most Irish SMEs launching in 2026. Fast onboarding, Irish IBANs via the Revolut Bank UAB Irish branch, SEPA Instant, competitive FX, and first-class integrations with Xero, QuickBooks, and Sage make it the most frictionless option on the Irish market for tech-forward companies.

Treat it as a core tool, not a silver bullet. If you need cash handling, overdrafts, or a branch manager on speed dial, pair Revolut with a traditional Irish bank. For everything else - day-to-day operations, multi-currency invoicing, clean accounting integrations - nothing on the Irish market currently beats it.

View the Revolut Business profile on Vendors.ie to see the full compliance checklist, pricing breakdown, and current data verification status.