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Switching another account or PSP to Revolut Business

Is there a fee to switch my account to Revolut Business from another bank or payment service provider (PSP) in Ireland?

Revolut does not charge a fee for switching to Revolut Business, but other banks or payment service providers (PSPs) may charge fees for the service or if you decide to switch over to us.

You can use our account switching service to move direct debits and other payment orders over to Revolut Business and away from a bank or PSP you currently use.

What are the requirements to request a switch?

To switch, you need:

  • an active Revolut Business account;
  • authorisation to switch on behalf of the business customer;
  • the other bank account must have no outstanding obligations on the incoming payment account, be denominated in currencies Revolut accepts, and have no negative balance.

How do I register for the account switching service?

To switch your account, register with our account switch service and choose a date you'd like to switch that is at least 2 business days from the date you're registering for the service. To avoid any disruption to your recurring payments, you should choose a date which has the least activity on your old account.

After you register and answer a few questions, we'll notify your payment partners of the switch and send you an email once the switch is completed successfully.

Can I close my old bank account when switching?

You can ask for your old bank account to be closed during the switch. If you choose to close it, avoid using any bank card or cheque book once the switch has started, and return any unused cheques or bank cards.

Keeping your old account open means you'll be liable for stamp duty on cards connected to both your old account and Revolut account.

What happens after the account switch is completed?

Direct debits and periodic credit transfers will be switched to your Revolut Business account, and we'll send you a list of your direct debits from your old bank. SEPA payments are accepted.

Direct debits from outside Ireland and recurring payments linked to the debit card on your old account are not covered by the account switching service.

What else should I know about the account switch process?

You should check your payroll arrangements and update your invoice documentation to include your BIC and IBAN for your Revolut Business account. If you receive direct debits into your old account that you want to receive into your Revolut Business account, you should change your sponsoring payment service provider to Revolut Bank UAB.

Note that the account switching service is only available to Revolut Business customers in Ireland who are considered "consumers" for the purpose of the Central Bank of Ireland's Account Switching Code. This includes individuals and unincorporated bodies such as partnerships, clubs, charities and trusts. It also includes incorporated bodies with annual turnover of €3 million or less who aren't part of a group of companies with a combined turnover greater than €3 million.