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Daniel Morgan
February 27, 2026
For anyone living a life that crosses borders-whether you are a digital nomad, a frequent holidaymaker, or an expat sending money home-the days of relying on traditional high-street banks are largely over. The hidden markups on exchange rates and the eye-watering ‘non-sterling transaction fees’ of legacy banks have paved the way for two dominant titans: Revolut and Wise.
While both companies aim to make international money management cheaper and faster, they are fundamentally different products. Wise (formerly TransferWise) started as a mission-driven money transfer service focusing on transparency. Revolut, on the other hand, positioned itself as a ‘financial super-app,’ offering everything from stock trading and crypto to airport lounge access and pet insurance.
This guide provides an exhaustive comparison to help you decide which platform deserves a spot in your digital wallet.
Before diving into the granular fees, it is essential to understand what these companies are trying to be.
Wise is built on a single, powerful promise: you get the mid-market exchange rate (the one you see on Google) and you pay a small, upfront, transparent fee. They don't offer fancy metal cards with concierge services. Instead, they provide a multi-currency account that acts like a local in dozens of countries. If you want to receive USD like a local or pay a freelancer in EUR without getting ripped off, Wise is designed for you.
Revolut is more than just a currency converter; it is a lifestyle ecosystem. It offers tiered subscription plans that turn your banking app into a toolkit for modern living. Beyond spending abroad, Revolut provides budgeting tools, savings ‘vaults’ with interest, and a suite of travel perks. It is for the user who wants their bank to handle their investments, their travel insurance, and their Saturday night out.
This is where most users win or lose money. Let’s break down how each platform handles your cash when you're abroad.
Wise always uses the mid-market rate. They make their money by charging a percentage fee on the transaction (usually between 0.35% and 1%, depending on the currency). This fee is always shown clearly before you hit 'send'.
Revolut also uses the mid-market rate for most transactions, but there is a major catch: The Weekend Markup. Because the foreign exchange markets close on weekends, Revolut adds a markup (usually around 1%) to all currency exchanges made on Saturdays and Sundays to protect themselves against market fluctuations.
Tip: if you use Revolut, try to exchange your spending money into the local currency on a Friday to avoid the weekend surcharge.
Both platforms offer free ATM withdrawals up to a certain limit, after which they charge a 2% fee.
| Feature | Wise (Personal) | Revolut (Standard) |
|---|---|---|
| Monthly Free Limit | £200 / $200 / €200 | £200 / $200 / €200 (or 5 withdrawals) |
| Number of Withdrawals | 2 per month | Unlimited up to the value limit |
| Fee after limit | 2% + £0.50 per withdrawal | 2% of the withdrawal |
Note: Revolut’s higher-tier plans (Premium and Metal) significantly increase these ATM limits, making them better for travelers who frequently visit cash-heavy economies like Japan or parts of Southeast Asia.
If you are an expat or a freelancer, the ability to hold money in different currencies is a game-changer.
Wise is the undisputed king here. When you open a Wise account, you can get dedicated local bank details for over 9 currencies, including:
This means a client in the USA can pay you via a domestic ACH transfer as if you lived in New York, and you will receive it without any cross-border fees.
Revolut allows you to hold and exchange 30+ currencies within the app. However, their local account details are more limited. While they provide a EUR IBAN (usually Lithuanian) and GBP details, they do not offer the same breadth of domestic account details as Wise for other regions like Australia or the US for all users globally.
Screenshot from Wise app (wise.com), used for comparison purposes.
This is where Revolut starts to pull ahead for the frequent traveler who values convenience and luxury.
Revolut offers several tiers: Standard (Free), Plus, Premium, Metal, and Ultra.
Wise does not have a subscription model for personal accounts. You pay for what you use. There is a one-time fee for the physical card (usually around £7/£9), and that is it. No monthly fees, no insurance, no lounges. It is a tool, not a lifestyle membership.
A common question is: "Is my money safe?"
Warning: Neither Wise nor Revolut (in the UK) are covered by the FSCS deposit protection scheme in the same way a traditional bank is, though they both follow strict safeguarding rules. In the EU, Revolut deposits are protected up to ‑100,000 under the Deposit Insurance scheme.
Pros:
Cons:
Pros:
Cons:
There is no single winner, but there is a clear winner for your specific needs.
Absolutely. Many savvy travelers use Wise for receiving international payments and making large transfers, while keeping a Revolut Premium account for travel insurance and daily spending perks. They complement each other well.
Wise is generally superior for large transfers. Their percentage-based fee often works out cheaper than Revolut's combined fees and potential weekend markups, and their platform is specifically optimized for high-value security and transparency.
While virtual cards are great for Apple Pay/Google Pay, a physical card is essential for many international ATMs and smaller merchants who don't support contactless payments yet.
In the European Union, yes, Revolut operates with a full banking license. In the UK and USA, it operates as a regulated Electronic Money Institution. While the legal distinction matters for deposit insurance, the daily user experience is identical to a bank.
To summarize, Wise is the surgical tool of the finance world-precise, transparent, and unbeatable for moving money across borders. Revolut is the Swiss Army knife-packed with features, stylish, and incredibly useful if you take advantage of its entire ecosystem.
For most casual travelers, Revolut’s free tier is a fantastic starting point. For serious expats and professionals, Wise remains the gold standard for international liquidity.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice. Exchange rates, fees, and terms of service are subject to change by the respective providers. Always check the official Wise and Revolut websites for the most up-to-date information before making a financial decision.
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Written by
Daniel Morgan
February 27, 2026
Daniel Morgan is a content writer focused on personal finance and digital tools, helping readers make practical, informed decisions. He specialises in simplifying complex topics into clear, easy-to-understand guides.
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