Software Alternatives, Accelerators & Startups

Revolut Bank VS Wise

Compare Revolut Bank VS Wise and see what are their differences

Revolut Bank logo Revolut Bank

One app, all things money

Wise logo Wise

Currency exchange Banks and other providers could charge you up to 5% in hidden costs when sending ...
  • Revolut Bank Landing page
    Landing page //
    2023-07-29
  • Wise Landing page
    Landing page //
    2023-09-02

Revolut Bank features and specs

  • Convenient Digital Banking
    Revolut offers a fully digital banking experience, allowing users to manage their finances through the app without the need to visit physical branches.
  • Multi-Currency Accounts
    Users can hold and exchange multiple currencies in their account, making it ideal for travelers and those dealing with international transactions.
  • Low Fee Structure
    Revolut generally offers lower fees for currency exchanges and international transfers compared to traditional banks.
  • Advanced Security Features
    The platform incorporates robust security measures such as real-time notifications, two-factor authentication, and the ability to freeze and unfreeze cards instantly.
  • Wide Range of Financial Services
    Revolut offers a variety of services beyond traditional banking, such as stock trading, cryptocurrency trading, and budgeting tools.

Possible disadvantages of Revolut Bank

  • Limited Customer Support
    Users have reported that Revolut's customer service can be slow or difficult to reach, which may be a concern for those who require prompt assistance.
  • Potential Hidden Fees
    While the fee structure is generally low, users have noted unexpected fees, particularly on weekends or when exchanging less common currencies.
  • Service Limitations
    Revolut may lack some of the services offered by traditional banks, such as cash deposits or extensive loan products.
  • Regulatory Limitations
    As Revolut expands into new markets, regulatory changes may impact the availability of certain features or result in additional requirements for users.
  • Reliance on Smartphone
    The app-based nature requires users to rely heavily on their smartphones, which could be inconvenient for those without continuous access to mobile devices.

Wise features and specs

  • Low Fees
    Wise offers competitive and transparent fees compared to traditional banks and many other money transfer services.
  • Real Exchange Rates
    Wise uses the mid-market exchange rate, meaning users get the real exchange rate without any hidden markups.
  • Fast Transfers
    Many transfers through Wise are processed quickly, often within a few hours or a day, depending on the destination country and payment method.
  • Multi-Currency Accounts
    Users can hold and manage money in multiple currencies with Wise's Borderless Account, making it easier for those who deal with international payments regularly.
  • Transparent Pricing
    Wise is upfront about their fees and the total cost of a transfer, so users know exactly how much they'll pay and how much the recipient will receive.
  • User-Friendly Interface
    Wise offers a clean and intuitive application and web interface, making it easy for users to navigate and complete transactions.

Possible disadvantages of Wise

  • Limited Customer Support
    Wise's customer support is primarily online, and some users report difficulties in reaching live assistance or having slow response times.
  • Transfer Limits
    There are limits on how much money can be transferred in a single transaction or over a period of time, which might be restrictive for some users.
  • Lack of Physical Locations
    Unlike traditional banks, Wise doesn't have physical branches, which can be an inconvenience for those who prefer in-person banking services.
  • Verification Process
    New users or those making large transfers may have to go through a lengthy verification process, which can delay the initial transaction.
  • Not Available in All Countries
    Wise does not operate in every country, limiting its accessibility for some users looking to send or receive international payments.
  • Occasional Delays
    While generally fast, some transfers may experience delays due to various factors, such as banking hours, holiday schedules, or compliance checks.

Revolut Bank videos

Revolut Bank Review - Watch This Video Before!

Wise videos

TransferWise Review - 3 Must Knows (2020)

More videos:

  • Review - TransferWise in detail
  • Review - Transferwise Review

Category Popularity

0-100% (relative to Revolut Bank and Wise)
Online Payments
6 6%
94% 94
Fintech
100 100%
0% 0
Money Transfer
5 5%
95% 95
Billing & Invoicing
0 0%
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Revolut Bank and Wise

Revolut Bank Reviews

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Wise Reviews

6 Cheaper Payoneer Alternatives for Your Online Transcations
Wise is a well-known alternative to traditional banking and offers competitive rates for international money transfers. It operates on a peer-to-peer system, ensuring low fees by matching individuals who want to exchange currency in different countries.
Top 5 Payoneer Alternatives [2024]
Wise offers fast, convenient transfers with transparent fees based on mid-market exchange rates, as well as a multi-currency account for both individual and business customers. While Wise offers several tools for business customers, such as expense cards, it is not as extensive as those offered by Payoneer. On the other hand, Payoneer’s fee structure is only transparent on...
Source: www.exiap.com
Top 5 Payoneer Alternatives for Seamless Online Transactions
Both offer global transactions, but Wise shines with competitive exchange rates and transparent fees, while Payoneer focuses on receiving payments with features like virtual cards. Choose Wise for cost-effectiveness, Payoneer for easy receiving.
Source: www.doola.com
Best money transfer apps of 2021
TransferWise does also offer Business pricing, which adds in extra features that are free, including the ability to receive money in EUR, USD, GBP, PLN, AUD and NZD currencies without charge. However, this comes with a 0.33%-3.56% fee to convert currencies. The supporting TransferWise debit Mastercard comes free too, with the same currency conversion fee of 0.33%-3.56% plus...
Top 7 Wise Alternatives
Wise’s Multi Currency Account (review) and associated Wise card (review) (which works great as a travel money card) are especially useful to expats who need banking features in a new country to pay rent, buy groceries, or receive money like a local (Wise offers international bank details in 10 currencies).
Source: transumo.com

Social recommendations and mentions

Based on our record, Wise should be more popular than Revolut Bank. It has been mentiond 24 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Revolut Bank mentions (6)

  • Does anyone know how to get free ultimate/live gold etc?
    Create a new Xbox account, find a 3 month gamepass trial somewhere, use Revolut or Privacy.com for a virtual credit card, and set the primary xbox to your xbox. Source: almost 2 years ago
  • Access denied, invalid endpoint acquirerBIN, acquirerMerchantID not recognized
    Use revolut.com, that will work for you, typically german cards wont work. Source: almost 2 years ago
  • Hustlers University/The Real World - Full list of Faqs
    My card doesn't work at all, I keep getting errors, why? / what type of cards work? Firstly make sure your card is either a DEBIT or CREDIT card, VISA, MASTERCARD. Next check you can authenticate the purchase via your banking app. Also make sure you have over $49 usd in your account, in case of currency fluctuations, if outside of USA. Lastly, try and whitelist your transaction with your bank. IF these steps... Source: about 2 years ago
  • Canadian living abroad for two years with a canadian salary. What banking/money transfer option to choose?
    Wise and Revolut are both solid - I used them both when I was travelling for a few years. You can get a debit card through both of them and store multiple currencies on it. Source: over 2 years ago
  • Is it possible to register for/use Revolut on a desktop/laptop computer?
    Looking at the website here it says 'now on desktop!' then when I try to download it, it sends a link to my phone number, which just goes back to the same site telling me to send my number to get the link to download it. What's the deal here, is 'revolut.com' not the correct site to download it? Why does it say it's on desktop? Why doesn't the site work...? Source: over 2 years ago
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Wise mentions (24)

  • Which bank in vietnam have the lowest fee for overseas remittance?
    I don't think you need to be a holder of both. I put my mom on my Wells Fargo account and she sent to my account. There is also https://wise.com/us/ . This one I have used to send to someones account in Vietnam. It does have slightly higher fee. But it goes straight into their account. From Wells Fargo I would have to go and get USD then exchange it to Vietnamese currency. Source: almost 2 years ago
  • We are happy to welcome you to Auction 88 — Coins of The World.
    They invoice in Euros (Czech Republic) so also be aware of fees on payments. I've successfully used TransferWise (https://wise.com/us/). Source: almost 2 years ago
  • Recommend me a first credit card with 0 foreign tx fee
    It's not a credit card. It's just a way to convert currency w/o a fee. https://wise.com/us/. Source: about 2 years ago
  • Renting an apartment without a US Bank account?
    Get a Wise account. Open one in your local currency, and one in US currency. I was doing that for the first few months. Source: over 2 years ago
  • My New Client Is Asking Me For My Bank Info
    I’ve used Wise for bank payments from international clients before: https://wise.com/us/ that way you’re not giving them your actual bank info but the process is similar on the client’s end. Source: over 2 years ago
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What are some alternatives?

When comparing Revolut Bank and Wise, you can also consider the following products

N26 - The Mobile Bank

Bill.com - Your financial operations platform. The intelligent way to create and pay bills, send invoices, manage expenses, control budgets, and access the credit your business needs to grow—all on one platform.

Payoneer - Whether making international payments, receiving funds, managing your digital business, or accessing capital, Payoneer opens your business up to the world.

Zoho Invoice - 100% free online invoicing software for small businesses.

Mercury - Mercury is banking* for startups

The Invoice Machine - The Invoice Machine is an online invoicing service with a simple and elegant user interface.

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