Wise vs Revolut | The Ultimate Comparison

Which is better - Revolut or Wise?

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Wise vs Revolut - How is Wise different from Revolut?

Are you wondering which bank account is more suitable for you? In this comparison between Wise vs Revolut, you will find the differences between both companies: which offers better exchange rates and which is more expensive.

Key Takeaways

  • Wise has a lower fee, making it cheaper for international transfers
  • Both Wise and Revolut offer multi-currency accounts
  • Revolut offers a better banking experience and premium plans
  • Revolut offers budgeting and money management tools

Wise vs Revolut: Comparison

When comparing both bank accounts from Wise and Revolut, you should be aware of the fees and services that you get. Every account has pros and cons, and it's up to you to decide which features are more important.

Since Wise doesn't have a paid plan, we will compare the no-fee plans from both Wise and Revolut.

As you can see, for everyday users, Revolut's fee-free Standard plan is slightly cheaper, with lower ATM fees if you withdraw more than £200 per month (or equivalent in other currencies).

Whether Revolut or Wise is better depends on your personal situation. If you are looking to use a travel card abroad, Revolut is a better fit. If you are, however, looking to send money abroad, Wise can be cheaper.

Find out more about Wise in our dedicated Wise card review.

Continue reading our comparison between Revolut vs Wise to learn more about international transfers and exchange rates.

Wise vs Revolut: International Transfer

Both companies Revolut and Wise enable you to make international transfers.

Revolut and Wise (Transferwise) allow you to send money abroad from your mobile device or via their native web application.

After extensively testing both Revolut and Wise, we feel the process of sending money abroad is more intuitive with Wise.

While the usability of Wise vs Revolut is more subjective, the exchange rates and international transfer fees should be objective criterium to pay attention to.

Sending money in Europe via SEPA is free for both Wise and Revolut. When you decide to use international transfers, you must consider additional fees and the exchange rate.

wise vs revolut international transfer

The exchange rate and international money transfer fees always depend on the following variables:

  • currency pair
  • weekdays vs. weekends
  • transfer amount
  • transfer type (Wise offers low-cost and fast transfers)
  • your plan (discounted transfer fees for Revolut Premium & Metal)

As you can see in the example above, we have compared the international money transfer from GBP to EUR at the exact time during a working day.

The exchange rate on Wise was more favorable, but the fees were higher than on Revolut, making Revolut the better option for this international transfer.

If you are about to make an international transfer, we always recommend using the calculators offered by Wise and Revolut to see which option is cheaper based on your currency pair, transfer type, amount, and your plan if you are a Revolut user.

Are you ready to save fees with Revolut's international transfers?

Wise vs Revolut: Exchange Rates

In most cases, Wise offers better exchange rates than Revolut. However, lower international transfer limits and higher Wise transfer fees make their service less attractive.

If you want to exchange your money between two currency pairs and keep your funds stored in your multi-currency accounts to spend them later, Revolut might also be a better choice for you.

wise vs revolut exchange rate

If you plan to use Revolut abroad, exchanging your funds for foreign currency is a good idea when the exchange rate is favorable. That way, you can avoid currency fluctuations and save some money while traveling.

Wise vs Revolut: ATM fees

Both Wise and Revolut offer up to £200 no-fee ATM withdrawals worldwide. For any amount above this withdrawal limit, you will pay 1.75% to Wise and 2% (or min. £1) to Revolut.

If you are traveling abroad and would like to save money on ATM withdrawals, we recommend using the Revolut Metal card, which allows you to withdraw up to £800 per month without any hidden fees. Read our Revolut Metal review to find out whether this plan is suited for you.

Wise vs Revolut: Cards

Revolut and Wise offer virtual and physical cards. The shipping fee for the Wise card is £8, and Revolut will charge you £4.99 to ship your no-fee Revolut card to your home.

wise vs revolut card

The Wise card comes in green, whereas Revolut offers a gradient magenta card. Both cards are made from plastic. Revolut Metal plan members can request to receive a card from stainless steel.

Revolut vs Wise - Which is better?

While Wise used to offer better conditions in the past, in 2023, Revolut is undoubtedly leading the race if you are looking for a Wise alternative. Money exchange and international transfers are cheaper with Revolut, and the bank offers a much better service to its clients.

Are you ready to sign up with Revolut?

Or read our in-depth Revolut review.

author

Jakub Krejci

Founder

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Jakub Krejci, the founder of P2P Empire, brings six years of expertise in navigating and investing across diverse P2P lending platforms. Drawing insights from over 50 interviews with industry CEOs and founders, Jakub offers a unique perspective in the peer-to-peer lending realm. Renowned for his high-quality reporting and regular updates, Jakub stands as a trusted authority for individuals navigating the dynamic P2P investment landscape.

Editorial Note: We earn a commission from partner links on P2P Empire. Commissions do not affect our editors' opinions or evaluations of products.