What they are
N26 and Revolut are licensed digital banks — not prepaid cards, not e-wallets, but regulated banking institutions with full IBANs, debit cards, and deposit protection. Both operate across the EU under European banking licences.
The key advantage for new arrivals: you can open either account entirely on your phone, with just a valid identity document and a selfie. No Irish address proof needed. No PPS number required to open (though you should add it once you have one). No branch visit.
N26
What N26 offers
- Full EU IBAN (German IBAN — DE prefix)
- Mastercard debit card delivered by post
- Free standard account, premium tiers available
- Spend notifications, budgeting tools, savings spaces
- Regulated by German financial authority (BaFin) — deposits protected under German deposit guarantee scheme up to €100,000
Opening requirements
- Valid passport or EU ID card
- Phone number
- Video selfie for identity verification (done in app, takes 5 minutes)
- Irish address (does not need to be verified with a bill)
Limitations
- No Irish IBAN — some Irish employers, landlords, or SEPA services may have trouble with the DE IBAN format, though it is legally valid across the EU
- No cash deposit or withdrawal at branches (no branches)
- Customer service is app and chat only — no phone support on free tier
Revolut
What Revolut offers
- Full EU IBAN (Lithuanian IBAN — LT prefix)
- Visa debit card
- Free standard account, premium tiers available
- Currency exchange at interbank rates (significant benefit for people sending money home)
- Savings accounts, investments, crypto (premium features)
- Regulated by Bank of Lithuania — deposits protected under Lithuanian deposit guarantee scheme up to €100,000
Opening requirements
- Valid passport, EU ID card, or driving licence
- Phone number
- Selfie in app for identity verification
- No proof of address needed
Limitations
- Non-Irish IBAN (LT prefix) — same potential friction as N26 with some Irish services
- No branches or in-person support
- Customer service quality is variable
- Free account has limited features — some functions locked behind paid tiers
Can they replace a traditional Irish bank account
For most day-to-day purposes — receiving wages, paying bills by direct debit, contactless payments, online purchases — yes. The SEPA standard means all EU IBANs work across Ireland for transfers and direct debits regardless of the country prefix.
However, there are situations where a traditional Irish bank account remains important: applying for a mortgage, some credit products, certain employer payroll systems that require an Irish IBAN, and situations where you need to deposit cash. For these, An Post Money or AIB/BOI remains the better option.
More bank account guides
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