Fast-growing fintech phenomenon Revolut has announced an increase of fees targeting Irish clients, a nation where the financial app is used by an excess of one million users.
The British company has announced that it will be raising fees for withdrawing cash from ATMs and for international money transfers.
Last summer the money app had already increased fees charged on foreign exchange transactions.
The new changes will mean that clients using a standard account will see the limits on free monthly ATM withdrawals changing. Currently there is a €200 limit on free monthly ATM withdrawals on the Standard plan. The changes will bring in a 2% charge on the value of the withdrawal, which willy apply after a limit of five ATM withdrawals.
International money transfers will continue to be free for countries within the Sepa (Single Euro Payments Area) area and the UK and Switzerland.
Cross-border and Swift international transfer fees will range between 30c and €5, depending on how much being transferred and where.