When looking at international financial services, Wise and Revolut are often top choices. This guide compares them, focusing on their features, prices, and who they’re best for. You’ll learn how to pick the right international payments platform for you.
Both Wise and Revolut have grown a lot in the financial services review. Revolut has over 500,000 business users and works in more than 200 countries. It offers multi-currency accounts and supports 28 in-app currencies. On the other hand, Wise has low-cost multi-currency accounts and holds balances in over 50 local currencies. It supports more than 120 currencies.
Revolut is great for sending money internationally, supporting over 160 countries. Wise is known for its local account details in nine currencies and fair exchange rates. This guide will help you decide which platform is best for you or your business.
Introduction to Wise and Revolut
Wise and Revolut lead in digital banking, with features for personal and business needs. They are key players in the fintech world. Knowing about Wise and Revolut helps you make smart choices.
Wise, once TransferWise, has clear fees and no monthly charges. It lets you hold over 50 currencies. It’s great for international money transfers, using fair exchange rates.
Wise Business accounts offer multi-currency support and bulk payments. They also work with accounting software.
Revolut has plans starting at £3.99 a month. It offers cashback and charitable donations. It’s easy to use and good for personal and business needs.
Revolut Business accounts have features like customizable payment approvals. They also support API integrations and USD and EURO payments.
Both Wise and Revolut have their strengths. Choosing depends on your financial goals. For more details, see our essential guide on top online banks in Europe.
- Wise: No monthly fees, low transfer fees, 50+ currencies
- Revolut: Paid plans, cashback, currency conversions
| Feature | Wise | Revolut |
|---|---|---|
| Monthly Plans | Free | Paid plans from £3.99/month |
| Currencies Supported | 50+ | 25+ |
| ATM Withdrawals | 200 GBP/month | Available on paid plans |
| Exchange Rates | Mid-market rates | Market rates with additional fees |
| Business Accounts | Free to open, no monthly fees | Varied plans, bulk payments |
Guide to Wise vs Revolut
When comparing Wise and Revolut, we see some key differences. Both are top choices for international money transfers. But, they charge different fees and offer different features.
Wise lets users hold 45 currencies, while Revolut supports 37. For card spending, Revolut leads with 152 currencies, more than Wise’s 48.
Looking at international transfers, Wise and Revolut have different options. Wise handles 30 currencies, while Revolut supports 41. Wise also offers 10 local accounts, more than Revolut’s one. But, Revolut has 37 SWIFT accounts, beating Wise’s 21.
Country support is another factor. Revolut serves 220 countries, while Wise reaches only 50. Wise’s transfer fee is about 0.33%, and Revolut’s is 0.15% with certain limits.
ATM withdrawal limits are the same for both, at £200 monthly. Wise charges 1.75% for withdrawals over this limit. Revolut charges 2% or at least £1.
Revolut gives free virtual cards, a feature Wise doesn’t offer. Wise allows transfers over $1 million, while Revolut doesn’t specify limits. Both offer instant to 7-day transfer speeds.
Both Wise and Revolut are regulated by the Financial Conduct Authority (FCA). Wise is known for great exchange rates. Revolut offers a £20 sign-up bonus and cheap SEPA transfers.
User satisfaction shows slight differences. Wise has a 4.3 Trustpilot rating from over 237,000 reviews. Revolut has a 4.2 rating from 165,000 reviews. Wise users like fast transfers, while Revolut users find the app easy to use.
| Feature | Wise | Revolut |
|---|---|---|
| Currencies Held | 45 | 37 |
| Currencies for Spending | 48 | 152 |
| Currencies for International Transfers | 30 | 41 |
| Local Accounts | 10 | 1 |
| SWIFT Accounts | 21 | 37 |
| Supported Countries | 50 | 220 |
| International Transfer Fees | 0.33% | 0.15% variable |
| ATM Withdrawal Limit | £200 – 1.75% | £200 – 2%/£1 |
| Virtual Cards | Not available | Free |
| Transfer Speed | Instant – 7 days | Instant – 7 days |
Wise and Revolut each have their own strengths. For more on top money transfer apps, check out this complete guide.
Which Platform is Better for You?
Choosing between Wise and Revolut depends on your needs and preferences. Wise is great for simple currency exchange and money transfers. It has a clear fee structure and supports over 40 currencies.
Wise doesn’t charge weekend fees and offers consistent rates. This makes it a solid choice for international business.
Revolut, on the other hand, is perfect for those who want a full financial tool. It supports over 25 currencies and offers AI for bill payments. You can also invest in cryptocurrencies and stocks.
Revolut’s exchange rates are a big plus for frequent travelers. It provides guaranteed rates for a set time.
Your choice between Wise and Revolut depends on what you value most. Revolut offers premium features like AI for bill capture and investing options. Wise, on the other hand, focuses on cost-effective and reliable currency exchange for all users.
For a detailed comparison, check out this guide on Wise vs Revolut. It helps you decide which platform fits your financial needs best.
