Wise vs Revolut: which multi-currency account fits where you live?
Wise and Revolut both let you hold several currencies and spend abroad with a debit card, but they are built on different models. Wise is a money-transfer and multi-currency account that charges a small, visible fee on each conversion. Revolut is a banking app with plans: the free Standard plan includes monthly allowances, and paid plans remove most limits.
That difference matters more than any headline rate. Whether Wise or Revolut is cheaper for you depends on your country (UK, eurozone or US), on how much you convert each month and on whether you spend at weekends. Below we work through real amounts using each provider’s published fee rules.
At a glance
| Wise | Revolut | |
|---|---|---|
| What it is | Multi-currency account and transfer service (e-money / payment institution) | Banking app with Standard, Plus, Premium, Metal and Ultra plans (a bank in the UK and EEA) |
| Monthly fee | None | Standard free; paid plans from £3.99 / €3.99 a month (US: Premium $9.99) |
| How currency conversion is priced | Mid-market rate plus a conversion fee on every exchange (from 0.24% on the UK pricing page) | No exchange fee on weekdays within your plan’s monthly allowance; fees above it and at weekends on Standard and Plus |
| Free ATM withdrawals | £250 / €250 / $250 a month | Standard: 5 withdrawals or £200 / €200 a month; more on paid plans |
| Currencies | Hold 40+; local account details in 9 currencies | Hold and exchange 36 (UK site) or 38 (Ireland site); 25+ in the US |
| Protection | Safeguarded e-money, not covered by FSCS or bank deposit guarantees | UK bank accounts covered by FSCS up to £120,000; EEA deposits up to €100,000 |
How each one charges for currency conversion
Wise converts at the mid-market exchange rate and adds a fee that it shows before you confirm. The fee varies by currency: Wise’s UK pricing page quotes conversions from 0.24%, the US page from 0.23% and the German page from 0.2%. The rule is the same on a Tuesday or a Sunday, for £50 or £5,000.
Revolut works with allowances. On the Standard plan you can exchange up to £1,000 (UK) or €1,000 (EEA) a month without Revolut’s fair-usage fee, as long as you do it on weekdays. Above the allowance, Standard pays a 1% fair-usage fee and Plus 0.5% (Plus has a £3,000 / €3,000 allowance). Between Friday 5pm and Sunday 6pm New York time, Standard pays an extra 1% and Plus 0.5%. Premium, Metal and Ultra have no exchange limit and no weekend fee in the UK and EEA.
In the US the numbers differ: Revolut Standard has a $1,000 monthly allowance with a 0.5% fee above it and a 1% fee outside market hours, Premium gets $10,000 per 30 days, and Metal is unlimited.
Card payments in a foreign currency follow the same rules as in-app exchanges at both providers. With Wise, spending a currency you already hold costs nothing; if you don’t hold it, Wise converts at the moment of payment and charges its conversion fee.
Worked examples with real amounts
These examples apply each provider’s published fee rules to round amounts. Wise transfer fees come from Wise’s own price calculator on our check date; they move slightly with the exchange rate.
1. Sending £1,000 from the UK to a euro bank account
Wise: paying in by bank transfer, the total fee was £3.81 (a fixed £0.52 plus a variable £3.29), and the recipient got euros at the mid-market rate. Sending from money already in your Wise balance cost £3.69; paying by debit card raised it to £6.96.
Revolut (UK, Standard): since 14 October 2026 Revolut charges fixed fees for international payments. For a GBP account sending to a euro account the listed fixed fee is £0.00, so the cost is the exchange itself. On a weekday, with your £1,000 monthly allowance unused, Revolut adds no exchange fee. If you have already exchanged money that month, the amount above the allowance pays 1%; on a weekend the whole exchange pays an extra 1% (about £10 on £1,000).
Takeaway: for an occasional weekday transfer within the allowance, Revolut Standard can cost less than Wise. For regular transfers above £1,000 a month or at weekends, Wise’s flat percentage is easier to predict and usually cheaper.
2. Spending €800 on a trip with a UK card
Revolut Standard: €800 is roughly £670 at current rates, inside the £1,000 monthly allowance, so weekday card payments carry no Revolut exchange fee. Any part spent at the weekend pays 1% extra, so €300 of Saturday restaurant bills would cost about €3 more.
Wise: if you convert pounds to euros before you travel, or let the card convert at the till, you pay Wise’s conversion fee on the whole amount. At the 0.24% to 0.33% we saw for GBP to EUR, that is about £1.60 to £2.30 on £670, whatever the day of the week.
3. Taking out cash abroad
| Cash withdrawn in a month | Wise | Revolut Standard |
|---|---|---|
| UK customer, £300 equivalent | £250 free, 2.69% on the £50 above: £1.35 | £200 free, then 2% (min £1) on £100: £2.00 |
| Eurozone customer, €400 | €250 free, 2.69% on €150: €4.04 | €200 free, then 2% (min €1) on €200: €4.00 |
| US customer, $400 in two withdrawals ($250 + $150) | First $250 free; second withdrawal $1.95 + 1.95% of $150: $4.88 | Allpoint network ATMs free; other ATMs up to 2% with no free allowance: up to $8.00 |
Revolut’s Standard allowance is also capped at 5 withdrawals a month. ATM operators may add their own charges at both providers.
4. Sending $1,000 from the US to Europe
Wise: funding by ACH, the fee was $5.47; by domestic wire it was $9.87 (Wise’s US disclosure lists $6.11 for paying in by domestic wire); from an existing Wise USD balance it was $3.42.
Revolut (US, Standard): international transfers in the recipient’s local currency cost 0.15% with a $0.75 minimum, so $1.50 on $1,000, plus any exchange fee if you have used your $1,000 monthly allowance or send outside market hours (1%).
Where you can open each account
Wise cards are offered to residents of the UK, the EEA, Switzerland, the US, Canada, Australia, New Zealand, Japan, Singapore, Malaysia, the Philippines, Brazil and Thailand (Thai accounts only if registered from 21 January 2026). Cards issued in the US can only be activated in the US.
Revolut personal accounts are available in the UK, the EEA, Switzerland, the US, Australia, New Zealand, Japan, Singapore and Brazil, with Mexico on a waiting list. Only the UK accepts 16 and 17 year olds for a standard account. Fees and plans differ by region: the US site offers only Standard, Premium and Metal.
How your money is protected
This is the clearest structural difference. Wise is not a bank. In the UK, Wise Payments Limited is an FCA-authorised e-money institution: customer money is safeguarded, but it is not covered by the Financial Services Compensation Scheme. In the EU, Wise Europe SA is a payment institution supervised by the National Bank of Belgium and is outside the Belgian deposit guarantee. In the US, Wise US Inc. is a FinCEN-registered money transmitter, and customer funds are not directly FDIC insured.
Revolut is a bank in the UK and the EEA. Revolut Bank UK Ltd is authorised by the PRA, and eligible deposits are covered by the FSCS up to £120,000. Revolut is moving UK customers to the bank in phases, though, and e-money accounts that have not moved yet are safeguarded rather than FSCS-covered. In the EEA, Revolut Bank UAB is licensed by the European Central Bank and regulated by the Bank of Lithuania, with deposits guaranteed up to €100,000. In the US, Revolut is not a bank: card funds are held at Lead Bank, Member FDIC, and Revolut itself states that FDIC insurance does not protect you if Revolut fails.
Account features that tip the balance
- Receiving money: Wise gives local account details in AUD, CAD, EUR, GBP, HKD, HUF, NZD, SGD and USD, so clients and platforms can pay you as a local payment. Receiving domestic payments is free except USD wires ($6.11); receiving by SWIFT costs 6.11 USD, 2.16 GBP or 2.39 EUR.
- Everyday banking: Revolut works as a main current account with budgeting tools, savings, a paid plan ladder and, in the UK and EEA, bank deposit protection.
- Transfers between users: instant transfers to other Revolut users are free worldwide, which helps if your friends and family already use Revolut. With Wise, the fee depends on the currencies involved and is shown before you send.
- Cards: the Wise card costs £7 / €7 / $9 to order (the digital card is free). Revolut’s first Standard card is free but a delivery fee applies (€7.99 standard delivery in Ireland).
Verdict by use case
| If you mainly… | Better choice | Why |
|---|---|---|
| Convert less than £1,000 / €1,000 a month on weekdays | Revolut Standard | No exchange fee inside the allowance, so small weekday conversions cost nothing extra. |
| Send large or frequent transfers abroad | Wise | One percentage fee at the mid-market rate, with no monthly cap and no weekend surcharge. |
| Spend abroad at weekends | Wise (or Revolut Premium and above) | Revolut Standard adds 1% at weekends; Wise’s fee is the same every day. |
| Get paid in USD, EUR or GBP by foreign clients | Wise | Local account details in 9 currencies, with free domestic receiving except USD wires. |
| Want a main account with bank deposit protection | Revolut (UK/EEA) | FSCS up to £120,000 once your account has moved to the UK bank; €100,000 in the EEA. |
| Live in the US and send money abroad | Either, depending on amount | Revolut’s 0.15% fee is lower on paper, but its allowance and off-hours fee apply; Wise is predictable from $3.42 on $1,000. |
Our view: many travellers and expats use both. Revolut works well as the everyday card while you stay inside its allowances, and Wise as the tool for larger transfers and for receiving money in foreign currencies.
Frequently asked questions
Is Wise or Revolut cheaper for sending money abroad?
It depends on the amount and timing. On our check date Wise charged £3.81 to send £1,000 to a euro account by bank transfer. Revolut UK Standard listed a £0.00 fixed fee for GBP to EUR payments, so its cost is the exchange: nothing extra on a weekday within the £1,000 monthly allowance, but 1% above the allowance or at weekends.
Does Revolut charge fees at weekends?
Yes, on Standard and Plus. Between Friday 5pm and Sunday 6pm New York time, Standard adds 1% and Plus 0.5% to currency exchanges, including card payments. Premium, Metal and Ultra have no weekend fee in the UK and EEA.
How much cash can I withdraw for free?
Wise allows £250, €250 or $250 a month depending on your region, then charges 2.69% on the excess (US: $1.95 plus 1.95% per withdrawal). Revolut Standard in the UK and EEA allows 5 withdrawals or £200 / €200 a month, then charges 2% with a £1 / €1 minimum.
Is my money safer with Revolut than with Wise?
They are protected differently. Wise safeguards customer money but it is not covered by deposit insurance. Revolut is a bank in the UK and EEA, so eligible deposits are covered up to £120,000 by the FSCS once your account has moved to the UK bank, or up to €100,000 in the EEA.
Can I use Wise and Revolut in the US?
Yes. Wise operates through Wise US Inc. and offers a card and account details there. Revolut offers Standard, Premium and Metal plans in the US through partner banks; it is not a bank in the US.
Which is better for freelancers paid from abroad?
Wise, in most cases. It gives local account details in currencies such as USD, EUR and GBP, so clients pay you as a domestic transfer, and you convert at the mid-market rate when you choose to.
Sources
Every fee on this page was checked against these official provider pages on .
- Wise — pricing (UK)
- Wise — pricing (US)
- Wise — pricing (Germany)
- Wise — send-money price calculator (GBP to EUR, 1,000)
- Wise — card fees (UK)
- Wise — card fees (US)
- Wise — card fees (Germany)
- Wise — US long-form fee disclosure
- Wise Help — currencies you can hold and receive
- Wise Help — fees for receiving money by SWIFT
- Wise Help — where the Wise card is available
- Wise Help — UK safeguarding (Wise Payments Ltd)
- Wise Help — EU safeguarding (Wise Europe SA)
- Wise Help — US entity (Wise US Inc.)
- Revolut — Standard plan fees (UK)
- Revolut — Standard plan fees (Ireland/EEA)
- Revolut — Standard plan fees (US)
- Revolut — pricing plans (UK)
- Revolut — pricing plans (Ireland/EEA)
- Revolut — pricing plans (US)
- Revolut — international payment fees (UK)
- Revolut Help — paying in a foreign currency and weekend fees
- Revolut Help — supported countries
- Revolut Help — UK bank licence and FSCS protection
- Revolut — deposit insurance information (EEA)
- Revolut — currency converter (UK)
Fees, limits and availability change and can differ by country and account type. Worked examples apply each provider's published fee rules to round amounts; exchange rates move constantly, so confirm the final price in the provider's app before you pay. How we check fees is explained on our methodology page.