Banking and payments app Revolut is to increase its charges for the paid plans used by many of its 2.5 million users in Ireland.
The cost of its Plus product is to rise by €1 a month to €3.99, or €10 a year to €40.
Its Premium product is to also increase by €1 a month to €8.99, or €8 a year to €90.
Revolut Metal is also to climb by €2 a month to €15.99, or €20 a year to €155.
The financial services provider says its free product will remain free and the price of its Ultra package will stay the same.
Revolut says this marks the first price increase it has introduced since it launched the paid products five years ago.
The company points out that Revolut Premium and Metal plans will have a bundled variety of subscriptions included in their plan worth €620 and €1,980 per year, respectively.
Additional benefits will also be added for Ultra customers in due course, Revolut says.
Customers currently on the impacted plans will receive an email from today telling them about the price changes.
Those with an existing plan who are billed monthly will be able to lock in their current price plan for a year, if they switch to annual billing before a specified date, Revolut says.
Alternatively, they can downgrade their plan for free until the price change comes into effect.
Revolut data show that customers in Ireland spend over €12.8m a month for digital goods. In October this year, the amount spent by Revolut customers to pay for this category of goods increased by 14% compared to the same time last year.
Tara Massoudi, Revolut General Manager of Premium Products, said the company was launching its new offering, which will bring together a carefully selected bundle of lifestyle subscription services included with a customer's Revolut Plan.
"One account that unlocks subscriptions bringing customers more value and convenience. As part of enhancing our paid plans, additional exciting benefits will come to Ultra customers in due course, too," Tara Massoudi said.
