Revolut has confirmed it will refund almost 112,000 customers in Ireland who were incorrectly charged fees when withdrawing cash from ATMs, following a technical issue involving an external cash machine operator.
The digital banking platform said the problem affected customers who made cash withdrawals between June 2023 and February 2024. While the number of impacted users is significant, the amounts involved are relatively modest, with the typical refund expected to be less than €4.
The company said the charges originated from a third-party ATM provider that mistakenly applied withdrawal fees to Revolut account holders.
"There is no relationship between Revolut and the third-party ATM provider. Nevertheless, Revolut is stepping in to refund affected users in the best interest of its customers, while the technical issue which initially caused the error has been resolved," the company said.
Customers eligible for reimbursement are expected to receive refunds directly from Revolut, despite the charges having been imposed by an independent ATM operator.
The announcement comes as the fintech continues to expand its footprint in Ireland, adding approximately 100,000 new customers during the first half of the year.
Revolut said it now serves 3.4 million customers across Ireland, compared with 3.3 million at the end of 2024. The latest figures represent annual growth of around 10 per cent and further strengthen Ireland's position as one of the company's most important markets.
Globally, the company has surpassed 75 million customers and continues to broaden its range of services beyond payments and foreign exchange. Irish users can now access products including savings accounts, investment services, personal loans and credit cards through the platform.
The company also reported strong growth in customer engagement, particularly in savings and investment activity. More than €3 billion is now held by Irish customers in savings and investment products offered through Revolut.
According to the latest figures, roughly one in every 10 Irish customers actively invests through the platform each month. Monthly active investment users have risen to 348,000, representing a 22 per cent increase compared with the same period last year.
The figures underline the growing role of digital banking services in Ireland, where fintech firms such as Revolut continue to attract customers seeking alternatives to traditional banking providers.
