ⓘReviewed using our independent review methodology.
Trying to decide on the best borderless banking app? Comparing Wise vs Revolut is something we see constantly here at BanksMobile. As an ex-fintech founder, I know firsthand how these platforms optimize their backend currency routes to win your business.
Both apps promise to cut out exorbitant old-school bank fees for travelers and expats. But doing a deep dive on Wise vs Revolut reveals very different product philosophies and pricing models.
- Wise transfer fees start from ~0.33% (typically 0.45%-0.65% on major pairs, up to ~2% exotic) + small fixed fee, mid-market rate.
- Revolut offers a free standard tier along with paid US plans: Plus $3.99 / Premium $9.99 / Metal $16.99 per month.
- Revolut also offers expansive paid UK plans: Plus £3.99 / Premium £7.99 / Metal £14.99 / Ultra £55 per month.
- Wise provides a $0 monthly fee and yields a 3.14% APY on USD for eligible users.
- Revolut supports stock and crypto investing directly within the app, whereas Wise does not offer investing options.
Table of Contents
Quick Comparison: Wise vs Revolut at a Glance
| Feature | Wise | Revolut |
|---|---|---|
| Feature | Wise (US personal) | Revolut (US personal) |
| Monthly Fee | $0 | $0 Standard; Plus $3.99; Premium $9.99; Metal $16.99 (US) |
| Savings APY | 3.14% APY (for eligible users) | Not specified |
| Transfer Fees | From ~0.33% (typically 0.45%-0.65% major, up to ~2% exotic) + fixed fee | Varies by route and plan |
| ATM Withdrawals | 2 free up to $100/mo, then fees apply | Free in-network; 2% out-of-network (limits apply to paid tiers) |
| Stock Investing | Not available | Available |
| Crypto Investing | Not available | Available |
| FDIC Insurance (via partners) | Uses partner banks (unspecified structure) | Up to $250,000 via partner banks |
| Founded Year | 2011 | 2015 |
Wise in Depth
Wise: Best for International Transfers
Wise is the gold standard for sending money abroad cheaply with no hidden exchange rate markups. The addition of interest on USD balances makes it highly appealing for stateside users.
Open Wise AccountWise was built from day one to do exactly one thing right: move money across borders cheaply. Rather than trying to be your entire financial life, it sticks to a single core competency.
What we test firsthand
Our take after testing the app: Wise acts more like an internet protocol for money than a traditional bank. Sending funds feels as frictionless as sending an email.
Pricing and Features
- Transfer fees run from ~0.33% (typically 0.45%-0.65% on major pairs, up to ~2% exotic) + a small fixed fee.
- Currency conversion always uses the real mid-market rate.
- Eligible users can score an impressive 3.14% APY on USD balances.
Where it falls short
Wise is terrible for heavy cash users. You only get two ATM withdrawals per month, up to a total of $100 completely free, before punitive fees kick in.
Wise Pros and Cons
Revolut in Depth
Revolut: Best for All-in-One Money Management
Revolut offers a strong fintech suite that includes debit cards, investing, and budgeting features. It is ideal for users looking for an alternative to traditional bank accounts.
Open Revolut AccountRevolut is the epitome of the “super app” approach in modern fintech. It wants to replace your checking account, your brokerage, and your crypto wallet all at once.
What we test firsthand
Our take after testing the app: Revolut is incredibly feature-rich but can feel slightly overwhelming. However, the sheer amount of utility baked into a single dashboard is impressive.
Pricing Plans
- US plans include Standard at $0, Plus for $3.99, Premium for $9.99, and Metal for $16.99 per month.
- UK plans offer Standard, Plus at £3.99, Premium at £7.99, Metal at £14.99, and Ultra at £55 per month.
- Stock and crypto trading are built directly into the interface.
Where it falls short
International transfers lack the dead-simple transparency of Wise. The fee structure shifts depending on your exact subscription tier, the currency routing, and whether it is a weekend.
Revolut Pros and Cons
Head-to-Head: The Key Differences
Putting Wise vs Revolut head-to-head requires looking at what you actually intend to do with the account. Let’s break down the major battlegrounds.
International Transfers
Wise dominates here with total transparency. You always get the mid-market rate with fees starting from ~0.33% with a small fixed fee attached.
Daily Banking and Extras
Revolut easily wins the feature war. If you want to invest in stocks, buy Bitcoin, or get high-tier travel insurance, Revolut gives you the toolkit to do it.
Subscription Models
Wise keeps things entirely free on a monthly basis for personal accounts. Revolut scales its product experience heavily alongside its paid US plans, peaking at the $16.99/mo Metal tier.
“When comparing Wise vs Revolut, remember that Wise wants to be your international pipeline, while Revolut wants to be your entire financial universe.”
Who Should Choose Wise?
- Expats who regularly move large sums home.
- Freelancers getting paid in different currencies.
- Travelers who prefer a transparent, pay-as-you-go fee structure without subscriptions.
Who Should Choose Revolut?
- Users who love having comprehensive budgeting analytics.
- Travelers seeking premium perks like lounge access on higher tiers.
- Those who want casual stock trading combined with their checking features.
Final Verdict
Choosing the winner of Wise vs Revolut comes down to whether you prefer a specialized tool or a vast Swiss Army knife. For sending cash abroad, Wise is untouchable.
For an everyday digital banking replacement, Revolut offers far more utility. In the end, analyzing Wise vs Revolut shows there is room for both apps in a modern traveler’s wallet.
Frequently Asked Questions
Which is cheaper for currency conversion in a Wise vs Revolut comparison?
Wise generally provides more predictable rates since it uses the real mid-market rate constantly with transparent fees (0.45%-0.65% for major pairs). Revolut is highly competitive but structure varies by plan and day of the week.
Are my funds protected with these apps?
Yes. In the US, both utilize partner banks to provide FDIC backing. Revolut specifically covers up to $250,000 depending on exactly how your funds are held.
Do either of these platforms offer physical cards?
Yes, both offer physical debit cards connected to your multi-currency balances. You can spend like a local anywhere Visa or Mastercard is accepted.
Can I use both Wise and Revolut together?
Absolutely. Many power users hold a free version of Revolut for day-to-day spending analytics and utilize Wise for bulk international money operations.
What are the UK options for Revolut users?
For our UK readers looking at Wise vs Revolut, Revolut’s British plans go all the way up to an Ultra tier at £55 per month. Wise maintains its singular pay-per-use structure everywhere.
