Two Approaches to International Money
Revolut and Wise solve the same problem — international transfers without predatory bank fees. But they do it differently. Revolut is a bank with a multi-currency account. Wise is a specialized transfer service with the real exchange rate. The choice between them isn’t about “which is cheaper” — it’s about “how you use money internationally.”
Sites: revolut.com | wise.com
Comparison Table
| Parameter | Revolut | Wise |
|---|---|---|
| License | Banking license (ECB, Lithuania) | EMI license (FCA UK, NBU) |
| Service type | Multi-currency bank | Transfer service + multi-currency account |
| Currencies | 36 for holding, 150+ for exchange | 54 for holding |
| Exchange rate | Interbank (Mon–Fri), 0.5–2% markup weekends | Real mid-market rate, no markup |
| Transfer fee | Free within Revolut, SWIFT from $3 | From 0.35% depending on currency |
| Free exchange limits | €1,000/month (Standard) | No limits, percentage only |
| Free transfers | Up to 10/month (Standard) | No fixed limit |
| Card | Visa/Mastercard, virtual + physical | Wise card (available in EU, UK, US, AU) |
| Cashback | Up to 10% (Metal) | None |
| Cryptocurrency | 80+ tokens, in-app trading | None |
| Availability | EEA, UK, CH, US, AU, JP, SG | 170+ countries for sending, 80+ for receiving |
| Deposit insurance | €100,000 (EU deposits) | Not applicable (EMI, not a bank) |
| Business account | Yes, from €25/month | Yes, from £0/month |
Scenario 1: You Live in the EU and Work with US Clients
Revolut. Open a EUR account, create a USD sub-account with local details (ACH/routing number). Clients pay as if you’re American — no SWIFT, no extra fees. Convert USD to EUR at the interbank rate on weekdays. Money on your Revolut card, spend anywhere.
Wise. Receive USD via ACH to your Wise balance. Convert at the real rate with ~0.4% fee. Transfer EUR to your local bank account (or spend with the Wise card).
Verdict: Revolut is more convenient for daily use (card, Apple Pay, cashback). Wise is cheaper on larger amounts (no weekend markup, transparent fees).
Scenario 2: You Send €5,000 to Family in Georgia
Revolut. Transfer to a Georgian bank’s Visa/Mastercard — free up to the limit (from €1,000/month on Standard). Above the limit: SWIFT transfer with a $3–5 fee + possible receiving bank fee. EUR→GEL conversion: interbank rate on weekdays, +1% on weekends.
Wise. EUR→GEL at the real rate, approximately 0.5% fee on the amount. For €5,000 that’s ~€25. Money arrives directly to the recipient’s bank account, usually within hours.
Verdict: On €5,000, Wise is often cheaper (€25 fee vs Revolut’s potential markups). Plus Wise has no transfer amount limits.
Scenario 3: You’re a Freelancer Earning in Three Currencies
Revolut. Pro account (€7.99/month): hold EUR, USD, GBP in local sub-accounts. Free exchange up to €5,000/month. Scheduled automatic conversion. Accounting software integrations.
Wise. Business account: local account details in 10 currencies. Integration with Xero, QuickBooks, Wave. API for payment automation.
Verdict: Both are strong. Revolut Pro is cheaper for smaller volumes; Wise Business is more convenient for accounting.
Regional Availability: The Critical Difference
Revolut is available in the EEA, UK, Switzerland, US, Australia, Japan, and Singapore. If you (or the recipient) are outside these regions, Revolut can’t open an account. This is the key limitation.
Wise is available for sending money from 170+ countries and receiving in 80+. Even if the recipient is in Armenia, Kazakhstan, or Morocco, Wise will find a way to deliver the money.
Final Recommendation
Revolut — if you live in a supported country (EU/UK/US) and want a full banking experience: card, cashback, daily spending, cryptocurrency, subscriptions. It’s a lifestyle app, not just a transfer tool.
Wise — if every percentage on conversion matters, you send large amounts, or work with counterparties across diverse countries including non-core regions. It’s a professional transfer tool.
Optimal strategy: keep Revolut for daily spending and Wise for transfers outside the EEA. Together they cover 100% of international finance needs.