A multi-currency digital banking app with a free tier and global card spending features.
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Revolut vs Wise
Comparing Revolut and Wise to help you pick the right Online Banking for your needs.
| Feature | Revolut | Wise |
|---|---|---|
| Pricing | Freemium | Freemium |
| Platforms | Web, iOS, Android | Web, iOS, Android |
| Launched | 2015 | 2011 |
| Starting price | $0 | $0 |
| Community votes | 367 | 745 |
Revolut Pros & Cons
- Genuinely useful free tier with multi-currency holding and fee-free spending up to a limit
- Strong app-based budgeting and spending insight tools
- Active referral program with real cash bonuses for both parties
- Card supports spending in many currencies without typical foreign transaction fees
- Fee-free spending limits on the free tier reset and can be exceeded by frequent travelers
- Not a full bank account with deposit insurance in every market it operates in
- Customer support has drawn criticism for being primarily app-based with limited human contact
- Premium tier costs add up if relying on higher-tier features regularly
Wise Pros & Cons
- Uses the real mid-market exchange rate with a transparent, disclosed fee — no hidden markup buried in the rate
- Multi-currency account lets you hold and convert 40+ currencies and get local account details in several countries
- Transfers are typically faster than traditional bank wires, often arriving same-day or within a few hours for major currency pairs
- Debit card spends directly from held currency balances, avoiding conversion fees while traveling if you hold the right currency
- Transparent, predictable fee structure shown upfront before you confirm any transfer
- Fees, while transparent, are still a real cost — pure peer-to-peer or crypto rails can occasionally beat Wise's rate for specific corridors
- Not a full bank account in most jurisdictions — deposit protection and account features differ from a traditional bank
- Larger transfers can occasionally trigger manual compliance review, adding delay versus the typical near-instant experience
- Local account details (for receiving like a local) are not available in every country
- Customer support is primarily chat/email-based, with limited phone support for most account tiers
Verdict: Revolut vs Wise
Revolut and Wise both serve the Online Banking category well, but suit different priorities. Based on community engagement, Wise is currently the more widely adopted choice (745 votes), but the better fit ultimately depends on your specific pricing, platform, and feature requirements.
Frequently Asked Questions
- Which is cheaper, Revolut or Wise?
- Revolut and Wise use a similar pricing model (both freemium), so the cheaper choice depends on which specific plan tier and feature set you need rather than the base pricing model.
- Is Revolut or Wise rated higher?
- Revolut and Wise currently hold comparable editorial ratings, so neither has a clear edge — the right pick depends more on which specific features and pricing fit your use case.
- Which platforms do Revolut and Wise support?
- Revolut is available on Web, iOS, Android. Wise is available on Web, iOS, Android. Both tools cover a similar range of platforms.
- Can I switch from Revolut to Wise (or vice versa)?
- Most online banking tools, including Revolut and Wise, support data export in standard formats, making migration possible though rarely fully automatic. Expect to manually verify that custom configurations, integrations, and historical data transfer correctly, and budget time for the team to adjust to workflow differences between the two products.
- Should I choose Revolut or Wise?
- Revolut and Wise both serve the Online Banking category well, but suit different priorities. Based on community engagement, Wise is currently the more widely adopted choice (745 votes), but the better fit ultimately depends on your specific pricing, platform, and feature requirements.