In today’s globalized world, managing money across borders efficiently is crucial. Whether you’re a frequent traveler, an expat, a freelancer, or an online shopper, having a reliable digital banking or money transfer service is essential. Two of the most popular options are Revolut and Wise (formerly TransferWise), here we will compare Wise vs Revolut?
But which one is better for your needs?
In this in-depth comparison, we’ll break down the features, fees, exchange rates, security, and overall usability of both platforms to help you decide whether Revolut or Wise is the best choice for you.
Table of Contents
- Overview: Revolut vs. Wise
- Key Features Comparison
- Fees & Exchange Rates
- International Transfers
- Multi-Currency Accounts
- Card Options & ATM Withdrawals
- Security & Regulation
- Customer Support
- Pros & Cons
- Final Verdict: Which One Should You Choose?
1. Overview: Wise vs Revolut
What is Revolut?
Revolut is a digital banking alternative that offers multi-currency accounts, international transfers, cryptocurrency trading, stock investments, and budgeting tools. It’s ideal for travelers, freelancers, and digital nomads who need flexible financial solutions.
Key Features:
✔ Multi-currency accounts (30+ currencies)
✔ Free and premium account tiers
✔ Cryptocurrency & stock trading
✔ Budgeting & analytics tools
✔ Virtual & physical debit cards
What is Wise?
Wise (formerly TransferWise) is primarily a money transfer service with multi-currency accounts and debit cards. It focuses on low-cost international transfers with real mid-market exchange rates.
Key Features:
✔ Borderless multi-currency accounts (40+ currencies)
✔ Transparent, low-cost transfers
✔ Wise debit card for spending abroad
✔ Business accounts available
✔ No hidden exchange rate markups
2. Key Features Comparison of Wise and Revolut
| Feature | Revolut | Wise |
|---|---|---|
| Account Types | Free, Premium, Metal, Ultra | Free, Business |
| Currencies | 30+ | 40+ |
| Exchange Rates | Mid-market (weekdays), markup on weekends | Always mid-market rate |
| International Transfers | Free (with limits) | Low, transparent fees |
| Debit Card | Free (standard), paid upgrades | One-time fee (~$9) |
| ATM Withdrawals | Free up to a limit, then fees apply | Free up to a limit, then 2% fee |
| Stock Trading | Yes (fractional shares) | No |
| Crypto Trading | Yes | No |
| Business Accounts | Yes | Yes |
3. Fees & Exchange Rates
Exchange Rates
- Revolut uses the mid-market rate on weekdays but adds a 0.5% – 1% markup on weekends.
- Wise always uses the real mid-market rate with no hidden markups.
Transfer Fees
| Service | Revolut Fees | Wise Fees |
|---|---|---|
| Local Transfer | Free (in supported currencies) | Low fee (varies by currency) |
| International Transfer | Free (with limits) or 0.3% – 1% | Transparent fee (0.35% – 2.85%) |
Winner: Wise offers more consistent and transparent fees, while Revolut can be cheaper for weekday transfers but has weekend markups.
4. International Transfers
- Revolut allows free transfers in the same currency but charges for SWIFT transfers.
- Wise specializes in low-cost international transfers, often faster and cheaper than traditional banks.
Speed:
- Revolut: 1-3 business days
- Wise: Instant to 2 days (depending on route)
Best for International Transfers? Wise wins due to better transparency and lower fees.
5. Multi-Currency Accounts
Both offer multi-currency accounts, but:
- Revolut supports 30+ currencies with free conversions (on weekdays).
- Wise supports 40+ currencies and allows local bank details in USD, EUR, GBP, AUD, NZD, and more.
Winner: Wise is better for holding and receiving multiple currencies, while Revolut is better for spending abroad.
6. Card Options & ATM Withdrawals
| Feature | Revolut | Wise |
|---|---|---|
| Card Cost | Free (standard), up to $55/mo (Metal) | ~$9 one-time fee |
| ATM Limits | Free up to $300/mo, then 2% fee | Free up to $100/mo, then 2% fee |
| Card Types | Virtual & physical | Virtual & physical |
Winner: Revolut offers higher ATM withdrawal limits, but Wise has no monthly fees for the card.
7. Security & Regulation
Both are highly secure, but:
- Revolut is an electronic money institution (EMI) (not a bank in all regions).
- Wise is licensed as a money transmitter in multiple countries.
Funds Protection:
- Revolut: FSCS protection (UK) up to £85,000 (only for certain accounts).
- Wise: Safeguarded in top-tier banks, but no deposit insurance.
Winner: Tie – Both are secure, but neither offers full bank-level protection everywhere.
8. Customer Support
- Revolut: Live chat (for paid users), email support (slow for free users).
- Wise: Email & live chat (faster response times).
Winner: Wise has better customer service.
9. Pros & Cons
Revolut Pros & Cons
✅ Pros:
- Free multi-currency account
- Stock & crypto trading
- High ATM withdrawal limits
- Premium plans with perks
❌ Cons:
- Weekend exchange markups
- Poor customer support for free users
- Not a full bank in all countries
Wise Pros & Cons
✅ Pros:
- Always mid-market exchange rates
- Low-cost international transfers
- Local bank details in multiple currencies
- Transparent fees
❌ Cons:
- No investment features
- ATM withdrawal limits are lower
- Card has a one-time fee
10. Final Verdict: Which One Should You Choose?
Choose Revolut If You:
✔ Want investment options (stocks, crypto)
✔ Need higher ATM withdrawal limits
✔ Prefer a premium banking experience (Metal/Ultra plans)
Choose Wise If You:
✔ Need low-cost international transfers
✔ Want real mid-market exchange rates always
✔ Frequently receive payments in multiple currencies
Best Overall?
- For travelers & spenders: Revolut (better card benefits).
- For freelancers & businesses: Wise (better exchange rates & transfers).
Final Thoughts
Both Revolut and Wise are excellent, but they serve slightly different needs. If you prioritize investing and spending, go for Revolut. If you need cheap, fast international transfers, Wise is the winner.
Which one do you prefer? Let us know in the comments!
