Revolut

Nearly half a million new bank accounts have been opened with the main retail banks and credit unions this year. The main retail banks and credit unions, as ...

[Ulster Bank and KBC Bank](https://www.buzz.ie/news/irish-news/kbc-customers-given-six-months-27120836) preparing to exit the [Irish banking sector](https://www.buzz.ie/all-about/bank-of-ireland) and their customers thus being forced to switch their current accounts, the other banks have seen an uptick in people opening new accounts. The main retail banks and credit unions, as well as An Post Money, have seen 434,000 personal current accounts opened so far this year and this doesn't include people who've switched to FinTech for their current accounts, with companies such as Revolut offering an alternative to more traditional banking. [Revolut](https://www.buzz.ie/all-about/revolut) is abandoning plans to run its western European business from Dublin, [FinTech company](https://www.buzz.ie/all-about/fintech) Revolut is in the process of dismantling its Irish operations. "This decision has been fully vindicated by the take-up of Revolut’s innovative and responsible lending products, including Revolut Personal Loans and Revolut Pay Later; and by the welcome for the Deposit Guarantee." A Revolut spokesperson said: “As was announced and widely reported at the time, in February 2022 Revolut decided to serve its Irish customers using its new European full banking licence, rather than via the Irish e-money licence which had just been approved by the Central Bank of Ireland. [FinTech company](https://www.buzz.ie/all-about/fintech) has missed a September 30 deadline to file its annual return with the Companies Registration Office.