Revolut Vs Wise
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.
Trying to choose between Revolut and Wise may seem hard.
In many ways the two services are similar… But the differences can be significant.
Do you want a comprehensive money solution?
Revolut can be, but Wise is more minimalist.
Do you frequently make international money transfers or need to manage multiple currencies?
Both platforms can do it, but Wise has a transparent and very competitive fee structure.
Are you looking for additional features like saving vaults or travel insurance? Revolut has you covered.
In this comparison of Revolut Vs Wise, I will show you which one will best suit your needs.
Disclosure: This post contains affiliate links, which may save you and do not cost any more. For more information, see my disclaimers here. For general information purposes only and does not constitute financial advice.
Snapshot
Revolut and Wise both provide individuals and business with great options for multi-currency accounts, cards and apps. However, when it comes to the currencies you can exchange, insurance, savings tools and other bank-beating money tools there are some big differences. It is worth noting that both platforms enjoy a tie Trustpilot ratings of 4.3/5.
For Freelancers, Small and Medium Business check out Revolut Vs Wise for Business
| Revolut | Wise | |
|---|---|---|
| 🏛️ Established | 2015, London (UK) | 2010 in London, UK |
| 💁🏼♂️ Clients | Personal and Business | Personal and Business |
| 💱 Currencies for exchange | 28+ currencies | Send money to over 160 countries |
| 💸 Multi-currency account | Yes – for business | Yes both personal and business |
| ⚖️ Regulation | Regulated in the UK, the US, EU | Regulated in Europe, USA, UK, Australia, Canada, Singapore and Hong Kong |
| ⭐ Reviews | “Excellent” – 4.3/5 on Trustpilot with over 246,000+ reviews (January 2025) | “Excellent” – 4.3/5 on Trustpilot with over 177,000+ reviews (January 2025) |
| 💰 Fees | Based on account type | Fees depend on multiple factors for transfers and multi-currency accounts |
| 🌐 Official Website | Visit Revolut | Visit Wise |
1. What is Revolut?
In our full review of Revolut we go into more detail on the options available to residents of EU countries, the UK, the US, Australia, and New Zealand. In a nutshell, Revolt’s focus in on being “all things money” and they even operates with a banking license in some European countries, and as an e-money institution in the UK, US, Australia, Canada and other countries.
In line with the kitchen idea, Revolut does other things, far beyond what traditional money app can do – and you can check it out here and in the UK they even do other things. (these links open new tabs)
See if you can get a Revolut account here and its latest fees
Revolut is available for both personal and the Revolut business account (including freelancers) and you get a MasterCard debit card that works in 200 countries (great to travel with and buy online).
They offer both zero-fee and paid accounts, and the paid accounts come with a lot of cool perks such as more no-fee ATM withdrawals*, travel insurance, lounge access etc.
All plans get access to saving vaults, budgeting and analytics.
* For ATM withdrawals third party providers may change a withdrawal fee and also that weekend fees may apply
Revolut Pros
Available for personal and business
Both paid and no-fee plans
Send and request money from friends with no fees (local)
Savings vaults and spend analytics
Multi-currency account for businesses
MasterCard debit card that works worldwide
Open banking – add and track all your bank accounts in the Revolut app
Revolut Cons
Has a banking licence but not a full-fledged bank except in 10 European markets including Belgium, Denmark, Finland, Germany, Iceland, Lichtenstein, Luxembourg, Netherlands, Spain and Sweden
Relatively small number of currencies for international transfers
Exchange rate mark up on weekends
No multi-currency account for personal use
2. What is Wise?
In our full review of Wise we go into more detail, but in a nutshell because Wise started life as a money transfer service and expanded into digital banking like multi-currency accounts, cards and the Wise business account they have a rather unique offering. Instead of being just a money transfer company or having everything like Revolut does thats money related they tend to focus on the needs of their customers and have grown organically.
As you would hope, they are particularly strong for money transfers and Wise is available in 60+ countries and lets you send money inexpensively at the mid-market rate in 70+ currencies.
See if you can get a Wise account here and here are the latest fees
Their multi-currency account is also available for personal and business and you can hold, manage, and convert between 50+ currencies.
You can also set up local receiving accounts in 10 currencies so you can send and receive money like a local (great for frequent travelers, freelancers, and growing global businesses).
The Wise multi-currency account also comes with the very useful Wise debit card.
Wise Pros
Available for personal and business
Send money to over 160 countries
Personal multi-currency account is free. Hold money in over 40 currencies
Get paid like a local with local receiving accounts
MasterCard debit card that works worldwide in over 40 currencies in over 150 countries
Wise Cons
Not a bank
Not ideal for large transfers
3. Revolut vs Wise: Fees
Please Note: Fees can change without notice and the ones shown may not be up to date.
See our section How to Compare Revolut Vs Wise for Your Needs below for links to most recent prices.
Revolut
Account Fees
Personal Account
- Revolut Standard (No monthly fee)
- Plus – £2.99/month
- Premium – £6.99/month, $9.99 USD/month, $9.99 AUD
- Metal – £2.99/month, $16.99 USD/month, $24.99 AUD/month
Freelancer Account (British pounds shown as a guide, check out business fees for your country)
- No fee option
- Professional – £7/month
- Ultimate – £25/month
Business Account
- Standard or “No Fee” Account
- Grow – £25/month
- Scale – £100/month
- Enterprise – Custom
International Transfer Fees
- Transfers at Revolut rate
- Service fees – 0.5% up to £1000 GBP (Standard and Plus), Unlimited on Premium and Metal
- Exchange rate mark up on weekends
- Some hidden fees may be charged by sending and receiving banks
Card Fees
- Delivery fee applicable based on plan
- Replacement fee – €6
- ATM withdrawal fee* – no-fee withdrawals up to 5 ATM Withdrawals or €200-€800/month (based on plan).
2% per withdrawal
Currency conversion fee for using card abroad
FX fees:
– Standard + Plus: Fair usage limits apply
– Premium + Metal: unlimited and fee-free in 30+ currencies (as exotic currency mark-ups apply, and only fee-free on weekends)
– All plans: Weekend mark-ups apply
* For ATM withdrawals third party providers may change a withdrawal fee and also that weekend fees may apply
Wise
Account Fees
Personal Multi-currency Account
Free to hold with no monthly fees
Business Multi-currency Account (one time set up fee)
- Eurozone – € 21 EUR
- the UK – £16 GBP
- the USA – $31 USD
- Australia – $22 AUD
- New Zealand – $40 NZD
International Transfer Fees
- Transfers at the mid-market rate
- Service fee – Approximately 0.65% of the amount on average
- Other fees – card fees applicable if sending money via credit or debit card
Card Fees
- Card Delivery fee – varies by country
- ATM withdrawal – Free for up to 2 withdrawals or £200 GBP/€200 EUR/$100 USD/$350 AUD/$350 NZD
Additional fees of 1.75% of the amount and above apply over the limit
Currency conversion at the mid-market rate when a card is used abroad.
Tip: How to Compare Revolut Vs Wise for Your Needs
A simple way to compare is by starting with your money transfers needs because generally for most people the fees associated with money transfers and conversions from payment are going to be the biggest component of the total fees.
Winner: Tie
Both Revolut and Wise are inexpensive compared to traditional single currency banks and they have far more versatility with much lower fees.
4. Revolut vs Wise: Locations and Currencies
Revolut
- Accepts registrations from EU countries, the UK, the US, Australia, and New Zealand.
- You can exchange 28 currencies
- You can spend 140 currencies with the card
Wise
- Wise is available in 40+ countries
- You send money to over 160 countries
- You can hold, manage, and convert between 40 currencies with their multi-currency card
- Local receiving accounts in 10 currencies
Winner: Wise
Wise is available in more countries, supports both major and exotic currencies for money transfers and their multi-currency account
5. Revolut vs Wise: Transfer Speed
Revolut
- Revolut to Revolut: Instant
- Revolut to Card: up to 30 minutes
- International bank to bank transfers: 3-5 business days
Wise
- Transfers funded by a debit or credit card: from a few hours to a day
- Bank-to-bank transfers: 2-5 days
Winner: Wise
As a specialized money transfer company, Wise is typically faster than Revolut for many currency pairs.
But it really comes down to a lot of variables like the currency pair, amount, and funding method.
6. Revolut vs Wise: For Business
Here is a summary taken from our in-depth comparison of Revolut Vs Wise for business
Revolut
- Hold, receive, and convert between 30+ currencies
- Debit card for online payments and offline use
- Manage team spending
- Manage payroll
- Payment gateway – integrates with websites
- Revolut card reader for offline businesses
Wise
- Hold, manage, and convert between over 40 currencies
- Set up local receiving accounts in 10 currencies
- Integrates with Accounting apps like Xero
- Supports mass payments
- MasterCard debit card that can be used for online and offline payments. Spend in over 40 currencies in over 150 countries
- Track team expenses
Winner: Tie
Both services have great features and it comes down to the type of business you operate.
Wise is focused exclusively on growing global businesses that operate online and they make it very affordable to do business with clients abroad with their local receiving accounts. Wise is also more widely available.
Revolut, on the other hand, offers a bigger range of options including multi-currency account and payment gateway for online-based businesses and card reader for brick and mortar businesses.
7. Revolut vs Wise: Security
Revolut
- Regulated by Financial Crimes Enforcement Network (USA), the UK Financial Conduct Authority (UK), and Bank of Lithuania (Europe)
- Revolut also has a banking license in 10 European markets and a deposit protection guarantee up to €100,000 EUR
- Customer funds held separately
- PIN and biometric log in
- Regular audits
- Single-use cards
Wise
- Regulated by Financial Crimes Enforcement Network (USA), the UK Financial Conduct Authority (UK), National Bank of Belgium (Europe) as an Authorised Payment Institution, the Australia Securities and Investments Commission (Australia), Financial Transactions and Reports Analysis Centre (Canada) and Financial Customs and Excise Department (Hong Kong). It is also regulated in India, Japan, Malaysia, New Zealand, Singapore and the UAE.
- Dedicated fraud team
- Two-factor authentication
Winner: Tie
Both services are regulated financial institutions and can be trusted with your money.
They use the latest encryption technology to keep your money and data safe.
Revolut also offers a deposit protection guarantee in some 10 European countries: Belgium, Denmark, Finland, Germany, Iceland, Lichtenstein, Luxembourg, Netherlands, Spain and Sweden due to its bank license.
8. Revolut vs Wise: Third party reviews – Can You Trust Them?
Revolut
Revolut is rated 4.3/5 on Trustpilot with over 124,000 reviews – where 75% of the reviewers had a positive (5-star experience) with the service.
The users love that Revolut is easy to use for day-to-day money needs as well as for traveling abroad.
However, 13% of their reviewers had a negative experience with the service:
The top causes of dissatisfaction were:
Frozen funds or accounts
As a regulated financial institution, Revolut conducts regular audits to keep your money safe and they may block your account if they notice unusual activity (like a unusually large transfer).
This can be very inconvenient and we recommend having a back up bank account and not holding the majority of your funds with services like Revolut.
Transfer delays
Usually, Revolut to Revolut transfers go through instantly, however international transfers will often take longer, especially if you set it up over a weekend or on a holiday
Wise
Wise is rated 4.4/5 on Trustpilot with over 185,000 reviews – where 84% are positive (5-star reviews).
The users love that Wise is easy to use and offers affordable international money transfers.
However, the 1-star and 20star reviews (totalling 6%) are of some concern.
The top cause of dissatisfaction is:
Holding transferred money for a long time or frozen accounts
Recently, there has been some complaints about Wise holding funds for a long time before paying it out.
During this time they ask for a lot of documentation – which is valid, since as a regulated financial institution, they need to conduct regular checks.
Since Wise is not a bank, we don’t recommend holding large amounts with them and always having a back up plan.
Winner: Tie
Both Revolut and Wise are great when they work well, however the frozen accounts mean having and alternative in place is a good idea.
Verdict
With 2 wins for Wise and 4 ties, it can be difficult to say which service is objectively the best.
Ultimately, I could just say it comes down to your specific needs. Which is true. But I think there can be some clear choices.
In most cases, Wise with it’s user-friendly multi-currency account, card and international transfer service is everything you need. For an international person, freelancer or business – Wise is a great way to go especially when used in conjunction with a traditional bank account. Start by checking out the Wise fees for your country.
However, if you want an easy money management app for day-to-day expenses with all the extras like saving vaults and travel insurance, Revolut is big improvement on your bank in many ways with some international goodness thrown in. What is available with Revolut does differ based on your country which you can see here.
If you run a business or are a freelancer discover more in our Revolut Vs Wise for Business review.
You also get a deposit protection guarantee up to €100,000 EUR with Revolut in some European countries.
Happy Money!
Which is Safer – Revolut or Wise?
Both are large, highly regulated services with a lot to loose if they don’t safeguard your funds. That said, only Revolut is a real bank in some European countries (with deposit insurance) but because Wise is not a bank it does not lend out funds and in theory your deposits are safe anyway.
Which is better, Revolut or Wise?
Based on your needs, it can be pretty easy to decide between the two but forst you need to know what they can do.
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.