Top 6 Revolut Alternatives
About Author: Hi, I’m Quinn Askeland. In 2014, I started Transumo after experiencing expensive, slow, and frustrating international money transfers and payments through banks. Once I discovered how to manage my own international currencies much better, I became driven to help others improve their transfers and payments. Fortunately, today, there are many excellent options. See My Full Bio.
I use Revolut on a regular basis and I do think for some people they can be an excellent choice.
But I think others could be better based on different needs.
Or perhaps you simply had a bad experience?
For international people and travelers, Wise is more minimalist, with no monthly fees and can be a better option if you do business in multiple currencies.
For businesses that require e-commerce solutions and more robust online solutions like payment gateways, PayPal and Payoneer may offer better solutions.
Finally, I think Revolut’s biggest advantage is also potentially their greatest weakness – they try to do everything.
Let’s get stuck into it!
Disclosure: This post contains affiliate links and savings on transfers if you use some of the links! For more information, see my disclosures here.
1. Revolut Alternatives – Quick Look
Looking at Trustpilot, Revolut has a rating of 4.3/5 stars, earning an “Excellent” review. Of these reviews, 75% are 5-star ratings, while 10% are 1-star ratings. Digging into these reviews reveals that users like Revolut for its features, support, and user-friendly app.
 |  |  |  |  |  | |
|---|---|---|---|---|---|---|
| ⭐Trustpilot Score | 4.3/5 | 4.1/5 | 1.3/5 | 3.8/5 | 3.1/5 | 3.3/5 |
| 💸 Fees | Transfers at the mid-market rate, low service fee, business account fee, card fees | Account inactivity fees, transfer and withdrawal fees, and card fees | Margin on the exchange rate, service fees, commercial transaction fees, withdrawal fees, etc. | Account inactivity fees, margin on the exchange rate, service fees, withdrawal fees, and others | Account fees, exchange rate markup, service fees, card fees | Low margin on the exchange rate, third-party integration fees for business payments |
| 🏆 Best for | People who want low fees and frequently have international money transfers | Cross Border e-commerce businesses, digital marketers, and freelancers | E-commerce businesses and freelancers | Personal and business users of the online gaming, gambling, and trading industry | Personal and business users in the EU | Businesses in some parts of Asia, the UK, the US, and Australia |
| ✅ The Good | Personal and business accounts, Multi-currency accounts, Debit card, Affordable bank-to-bank transfers | Local receiving accounts in EUR, USD, GBP, JPY, CNH, CAD, and AUD currencies | Integrates with payment gateways and offers many ways to get paid | Widely acceptable in these industries | A tiered subscription, includes a free account, money transfers and money management | Global receiving accounts in 12+ currencies |
| ❌ The Bad | No banking license | Some hidden fees | High markup on FX exchange rate, lots of additional fees | High markup on FX exchange rate, limited customer service | Single currency account, limited customer service | Limited coverage |
| 👍Why better? | Low service costs and offers a mid-market exchange rate | Specializing in small business payments | Trusted brand specializing in e-commerce businesses | Operates in a niche industry Revolut doesn’t serve | Focused on EU | Cheaper for money transfers, multi-currency account |
2. When Revolut Works and When It Doesn’t
2.1 When Revolut Works
Deposit protection in EEA and US:
Revolut Business holds a banking license in some regions, including the EEA – if you’re a resident in these countries, you’ll enjoy the full range of Revolut’s features including deposit protection up to €100,000 EUR.
In the US, your money is protected up to $250,000 under FDIC. Your funds will be held at or transferred to Metropolitan Commercial Bank, an FDIC-insured institution. While there, your funds are insured up to $250,000 by the FDIC in the event Metropolitan Commercial Bank fails if specific deposit insurance requirements are met and your card is registered.
Effective money management:
Revolut offers many money management features such as budgeting, spend analytics, peer-to-peer transfers, savings vaults (with interest on money held), joint accounts, and even accounts for kids below 18.
Flexible plans
Whether you’re an individual looking for a money management app, a business, or a freelancer, you’ll find a Revolut plan that fits your needs.
They even offer a basic plan to get you started.
No-fee Single Euro Payments Area (SEPA) payments
If you live or travel frequently in the SEPA region, Revolut is a a great option for sending money affordably to friends and family. There are no fees involved when you transfer euros to an account in a different country within the Single Euro Payments Area
Traveling abroad
Every Revolut plan comes with a virtual or physical debit card that can be used globally – great for ATM withdrawals or for paying for goods and services while traveling.
Revolut for business
Revolut offers payment gateways, payment links, a multi-currency account, international transfers, and debit cards for teams (with easy usage control from the app).
2.2 When It Doesn’t Work
Not a bank in the UK, Singapore, Australia, NZ, and Japan:
While you can sign up for a Revolut account in these countries and access all the money management features, they don’t have a banking license in these countries – which means your money is not protected under a government scheme.
In the UK, Revolut is a registered e-money institution, authorised under the UK Electronic Money Regulations.
International transfers:
Revolut offers international transfers in 29 currencies and there can be a markup on the exchange rate on weekends – which can be limiting and expensive.
Investments
Revolut also offers investment options on their platforms but there are some limitations and risks that you should be aware of before you start.
3. Wise – Best Revolut Alternative
About:
Wise is one of the best all-in-one money management services bundling both affordable bank transfers and a multi-currency account.
Wise is available for personal and business use and is great for individuals looking for low-cost international transfers, freelancers, frequent travelers, and growing global businesses who get paid in multiple currencies.
The best part? You can view the exact amount your recipient will get right now on the Wise calculator here (opens a new tab) — no sign-up required!
Learn more about Wise (review) and Wise Multi-currency Account (review).
Best features:
| Affordable bank transfers | Send money to 160+ countries in 40+ currencies |
| Multi-currency account | Hold, manage, and convert between 40+ currencies; banking features |
| Global debit card | Available for personal and business use in 200 countries |
Fees:
The Wise multi-currency account is free for personal use but business accounts have a one-time fee (depending on the location).
International bank transfers are processed at the mid-market rate and with a low service fee (typically 0.66% of the amount).
Card fees are applicable for ATM withdrawals above a specific limit as well as currency conversion fees.
Support: Email support
Verdict: Why is Wise the best Revolut alternative?
Even though Wise doesn’t have a banking license, their multi-currency accounts are widely available and their personal accounts are free to use.
They’re also known for their affordable and efficient bank-to-bank transfers to 160+ countries (below $7000 USD).
Use Wise when you need an all-in-one money transfer and multi-currency management service as a frequent traveler, expat, freelancer, or growing global business.
4. Payoneer – Best for Online Sellers and Freelancers
About:
Payoneer is one of the most widely available and versatile business payment solutions out there.
They’re available in 200+ countries and serve e-commerce businesses, digital marketers, and freelancers.
Payoneer easily integrates on your own e-commerce website as well as third-party marketplaces like Amazon, eBay, Upwork, Airbnb, etc.
Get the lowdown on Payoneer in our detailed review – Payoneer (review).
Best features:
| Many ways to pay and get paid | card transfers, bank transfers, mobile wallet transfers, payment gateway integrations, etc. |
| Multi-currency account | Get paid without currency conversion fees with local receiving accounts in USD, AUD, GBP, EUR, JPY, HKD, CAD & SGD |
Fees:
Your Payoneer business account is free to hold and manage – but you’ll be charged $29.95 USD if it’s inactive for more than 12 months.
Other fees include currency conversion fees, withdrawal fees, sending and receiving fees, etc.
Support: Live chat, FAQs, community support, email support
Verdict: What makes Payoneer a great Revolut business alternative?
Payoneer is only focused on business customers – specifically those who operate in the digital space – from online sellers to digital marketers, freelancers, and online service providers.
They’re also available in many countries – 200+ to be specific – and offer local receiving accounts in 8 global currencies. This helps businesses accept payments without any currency conversion fees – as though they had a local account.
Payoneer also integrates with several online marketplaces.
Choose Payoneer when you need a payment service specializing in digital businesses such as e-commerce, digital marketing, and freelance marketplaces.
5. PayPal – Best for E-commerce Businesses
About:
PayPal is one of the most trusted names in digital payments and they have been around for over two decades.
PayPal is available almost anywhere and serves both personal and business users.
For personal users, PayPal is best for local payments – but not so much for international transfers (can be expensive).
For business users, PayPal can be quite robust if you have an e-commerce business.
Overall, PayPal can help you send and receive payments in 25+ global currencies.
Learn more about PayPal payments in our detailed breakdown – PayPal International Transfers (review)
Best feature:
| Payment gateway integration: | Integrate anywhere and offer many local payment options as well as debit and credit cards to your customers |
Fees:
PayPal’s international transfer fees are on the higher side – expect to pay a 4-5% margin on the exchange rate + fixed fee depending on the payment method and recipient country.
Fees for commercial transactions include a location-specific fixed fee per transaction, currency conversion fees, withdrawal fees and bank fees.
Support: Chat or email support, Resolution tickets, FAQs, and Community forum
Verdict: What makes PayPal a worthy Revolut business alternative?
While PayPal also offers POS devices for brick-and-mortar businesses, it shines as a payment processor for global merchants.
They integrate with pretty much every online marketplace and business tool so you can offer your clients many ways to pay you (local and global) as well as track your payments easily on tools like Zoho, Xero, Salesforce, etc.
Choose PayPal if you want to get paid easily as an online seller.
6. Skrill – Best for Online Gaming and Trading
About:
Originally known as Moneybookers when it was launched in 2001, Skrill is the go-to e-wallet and payment platform in the online gaming, trading, and gambling industry.
In most cases, regulated money transfer services don’t allow integration with gaming, trading, and online gaming platforms to avoid theft, fraud, money laundering, or other misuse of their services.
However, Skrill helps its customers pay and get paid safely on these platforms as a licensed service provider.
Skrill is available for both personal and business users.
Best features:
| Integration with most gaming, gambling, and trading platforms | Hold money in your e-wallet, pay safely, and withdraw your earnings easily. |
Fees:
It’s free to open and hold a Skrill account, but a €5 EUR inactivity fee is applicable if you don’t use your account for at least every 6 months.
Currency conversion fee: up to 3.99%
Exchange rate markup: up to 4.99%
Receiving Fee: Free (unless a currency conversion is involved)
Withdrawing Fee: 0 – 3.99% depending on local withdrawal method.
Annual card fees are also applicable.
Support: Email and chat support
Verdict: What makes Skrill one of the best alternatives to Revolut?
If you’re into online gaming, gambling, or trading platforms you need Skrill because most apps similar to Revolut don’t support these.
Apart from an e-wallet for these platforms, Skrill also provides a prepaid card and international transfers in 40 currencies – however, the fees may be on the higher side.
Use Skrill to safely pay and withdraw money on online gaming, legal gambling, and trading platforms.
7. N26 – Best Revolut Alternative in Europe
About:
N26 is a licensed digital bank (German banking license) in the EU that offers digital current accounts and other cool features like savings accounts, budgeting analysis, a debit card, dedicated business accounts, etc.
It’s a lot like Revolut – but more streamlined.
Learn more about N26 in our in-depth review – N26 (review).
Best features:
| Digital current accounts in EUR | come with savings pots, a debit card, travel insurance, and deposit protection based on their German banking license |
Fees:
N26’s fees depend on the service tier – they offer four tiers each for personal and business users (including a free account).
For international transfers, N26 processes them at the interbank rate and a small service fee depending on the amount, currency, and plan subscription.
You also get charged a receiving fee for transfers over €150 EUR.
Fees are also applicable for ATM usage.
Support:
In-app and chatbot support for free users – phone support included for paid tiers.
Verdict: What makes N26 the best Revolut alternative in the EU?
N26 is a licensed digital bank in the EU that provides deposit protection up to €100,000 EUR / £85,000 GBP.
And while Revolut offers a lot of features, N26 feels more streamlined and less overwhelming.
If you’re in the EU, N26 is a good day-to-day money management app with deposit protection.
8. Airwallex – Best Revolut Business Alternative in Asia
About:
While Revolut covers a broad spectrum, Airwallex specializes in handling business transactions, making it a top choice for international enterprises.
Airwallex can be integrated into payment gateways and you can set up local receiving accounts in 12+ currencies to get paid fee-free. You can also set up company and employee debit cards from the app.
You can sign up for Airwallex Business in the UK, US, Netherlands, Hongkong, Singapore, Malaysia, and Australia and send money abroad in 46 currencies. No hidden fees.
Best features:
| Global receiving accounts | in 12+ currencies |
| Business integrations | Integrate with apps like Xero and manage all payments |
Fees:
Airwallex operates with a transparent fee structure.
Opening an account is free and they make money from a margin on the exchange rate, which is between 0.3% and 0.6% on top of the interbank rate.
They also earn through third-party fees for specific transactions:
- SWIFT transfer (any currency) – $10-30 AUD based on the SWIFT fee structure.
- US domestic FedWire (USD) – $10 AUD.
- Singapore (SGD) – $2-12 USD.
- Hong Kong (CNY, HKD, USD, EUR) – $2-5 USD.
Support:
Phone support in the US, China, and Canada; Email support for everyone else
Verdict: What makes Airwallex one of the best Revolut business alternatives?
Airwallex’s international transfer fees are very competitive and their focus on serving business customers exclusively makes them a powerful payment platform for global businesses.
They also provide more options for receiving fee-free international payments with their global receiving accounts in 12+ currencies.
However, Airwallex is not available in Europe (except the Netherlands).
Choose Airwallex if you’re in the UK, US, Netherlands, Hong Kong, Singapore, Malaysia, and Australia and want a low-cost but robust business payment solution.
Verdict
Revolut is a robust banking tool for both personal and business use.
They offer many service tiers, lots of cool features, dual currency accounts in GBP and EUR, a debit card for international use, investments on their platform, travel insurance, and more.
However, we have seen that there are many great alternatives to Revolut that can offer you more features, lower fees, and better customer support. Depending on your needs and preferences, you can choose from the following platforms:
Revolut Personal, Freelancer, and Small Business Alternatives
Wise (opens a new tab): has better coverage than Revolut, holds more currency options, exchanges at mid-market rate and cheap bank-to-bank transfer fee. An awesome card addition for people who travel frequently or do business internationally (read more reviews above).
Skrill: lets you make fast, easy, and discreet payments on various online sites, such as gaming and gambling which Revolut doesn’t support (read more reviews above).
N26: is a digital bank that offers a convenient and secure way to manage your money on a daily basis. If you are in the EU, you can enjoy deposit protection as N26 is licensed by the European Central Bank. You can also save money on foreign exchange fees, as N26 charges no markup on currency conversions (read more review above)
Revolut Business Alternatives
Payoneer: is a payment platform that is ideal for online sellers and freelancers who need to receive payments from clients worldwide. It is a great alternative for Revolut Business, as it is available in more than 200 countries and supports over 150 currencies. However, you should also be aware of the fees (above) involved with Payoneer.
PayPal: is another alternative for a Revolut Business account. PayPal has a payment gateway integration that is perfect for managing e-commerce transactions. You can also use PayPal to make and receive payments online, in-store, or on mobile devices. However, you should also consider the disadvantages of PayPal, especially the fees that can tend to be complex and relatively high. (Read more reviews above)
Airwallex: has a wider range of features than Revolut business. You can manage your global business with features like international payments, multi-currency accounts, virtual cards, and invoicing. You can also integrate with popular platforms like Shopify, Amazon, and Xero. If you are in the UK, US, Netherlands, Hong Kong, Singapore, Malaysia, or Australia, you can use Airwallex as a low-cost but robust business payment solution. (Read more review above)
Ultimately, the best way to decide which platform is right for you is to compare their features and fees (above) and see which one best meets your needs.
Is Revolut better than Wise?
Both Revolut and Wise have their own strengths. In general, Wise is more straightforward and functional while Revolut has more style and features. Both are a huge step up in managing money.
What are the disadvantages of Revolut?
Revolut has some drawbacks such as less coverage than others, (sometimes) slow customer service, and monthly fees to access more benefits. Fortunately, there are a number of great alternatives which may be better for specific needs.
The opinions expressed within the content are solely the author’s and do not reflect the opinions and beliefs of Revolut. However, please be aware that a commission may be earned through affiliate links.