Banking · Decision Guide
Wise vs Revolut: How They Compare for Expats
Wise and Revolut are the two digital banking services most commonly used by expats and remote workers. Both offer multi-currency accounts, international transfers, and debit cards—but they work differently under the hood. The practical question isn't which is "better" but which fits your specific situation.
Many expats end up using both, since each has strengths the other lacks. This page breaks down how they compare across the factors that matter most.
Last reviewed: January 2026
Decision-support content for research purposes. Not legal, tax, or financial advice. Verify with official sources.
This page helps you understand the differences between Wise and Revolut for expat banking needs.
- How fees and exchange rates compare
- Which currency and transfer scenarios each handles better
- Account features and limitations for each
- When using both makes sense
- Common mistakes people make when choosing
Compare provider options
These are examples, not recommendations. Compare options based on your specific needs.
Side-by-side comparison
High-level differences. Details vary by country and account type.
| Primary strength | Wise: Transfers | Revolut: Daily spending Each optimized for different use cases |
| Exchange rate | Both use mid-market rate Wise always; Revolut on weekdays within limits |
| Transfer fees | Wise: ~0.4-1% | Revolut: Free to limits Revolut free limits vary by plan |
| Local account details | Wise: 10+ currencies | Revolut: 30+ currencies Availability varies by residence country |
| Card spending abroad | Both competitive Revolut has weekend markup; Wise does not |
| Free plan limits | Wise: Pay per use | Revolut: Monthly limits Revolut free plan has ATM and exchange limits |
| Regulatory status | Both e-money licensed Neither is a traditional bank in most countries |
Key tradeoffs
Important considerations that affect most people in this situation.
Where Wise typically works better
- • Large international transfers (transparent percentage fee)
- • Holding significant balances (no hidden markups)
- • Receiving payments in multiple currencies
- • Weekend transfers (no rate markup)
- • Business accounts with invoicing needs
Where Revolut typically works better
- • Daily card spending abroad (free within limits)
- • Frequent small transactions (subscription-based)
- • Budgeting tools and spending analytics
- • Crypto and stock trading features
- • Disposable virtual cards for online purchases
Fee structures work differently
Wise charges a transparent percentage on each transfer (typically 0.4-1% depending on currencies). Revolut offers free exchanges up to monthly limits, then charges fees beyond them. For occasional large transfers, Wise's per-transaction model is often clearer. For frequent small transactions, Revolut's subscription model may work out cheaper—but you need to track your limits.
Weekend exchange rates differ
Wise uses the mid-market rate 24/7 with no markup. Revolut adds a small markup (0.5-1%) on weekends and for certain currencies to account for market closure risk. If you regularly convert money on weekends, this difference adds up. If you only transact on weekdays, it's less relevant.
Account details availability varies
Both provide local account details for receiving payments, but which currencies and in which countries differs. Wise provides local details for USD, EUR, GBP, AUD, NZD, SGD, and more. Revolut offers details in 30+ currencies but availability depends on your country of residence. Check what's available for your specific situation.
When Wise typically fits better
These scenarios tend to favor Wise's model.
- Receiving international payments — Wise's local account details let clients or employers pay you as if you had a local bank account in their country. The money arrives in your Wise balance without conversion fees
- Large one-off transfers — Wise's percentage-based fee (0.4-1%) with no hidden markup often beats Revolut's free limits for transfers over a few hundred euros
- Holding balances long-term — Wise has no monthly fees and no exchange rate markup when you eventually convert. What you see is what you get
- Weekend or holiday transactions — Wise doesn't mark up rates on weekends. If your payment timing is unpredictable, this removes a variable
- Transparent pricing for business — Wise Business shows exact fees upfront, which matters for invoicing and accounting
When Revolut typically fits better
These scenarios tend to favor Revolut's model.
- Daily spending abroad — Revolut's free card spending (within limits) is hard to beat for everyday purchases. The app also shows real-time spending in your home currency
- Budgeting and tracking — Revolut's analytics, categories, and budgeting tools are more developed than Wise's. If you want spending insights, Revolut provides more
- Frequent small exchanges — if you're constantly moving small amounts between currencies, Revolut's monthly free allowance may cover you without per-transaction fees
- Virtual cards for security — Revolut makes creating disposable virtual cards easy, useful for online purchases where you don't want to expose your main card
- All-in-one app preference — Revolut bundles crypto, stocks, insurance, and other features. If you want one app for multiple financial services, it consolidates more
Fee comparison
How costs actually break down for common expat scenarios.
- Sending €1,000 to USD — Wise: approximately €4-6 (0.4-0.6%). Revolut: free if within monthly limit, otherwise similar fees
- Spending €500/month abroad on card — Wise: no fee, mid-market rate. Revolut: free within limits on Standard plan
- ATM withdrawals abroad — Wise: 2 free per month (up to £200), then 1.75%. Revolut: varies by plan, €200 free on Standard then 2%
- Monthly account cost — Wise: free (pay per use). Revolut: free Standard plan, or €8-14/month for Plus/Premium with higher limits
- Receiving international payments — both free to receive, though Wise's local account details are often more useful for this
Using both together
Many expats maintain both accounts, using each for what it does best.
- Wise for receiving — Use Wise account details to receive international payments without conversion fees, then transfer to Revolut for spending
- Revolut for daily spending — Use the Revolut card for everyday purchases abroad, taking advantage of free spending limits
- Wise for large transfers — When moving significant amounts, Wise's transparent percentage often beats Revolut's limits
- Revolut for budgeting — Track spending in Revolut's app while keeping savings or payment-receiving in Wise
- Backup redundancy — Having both means if one card is blocked or one service has issues, you have a fallback
What neither provides
Important limitations both share.
- Neither is a traditional bank — Both are e-money institutions in most countries. Deposit protection differs from traditional banks (check your jurisdiction)
- No credit products — Neither offers credit cards, loans, or overdrafts in most markets
- No cash deposits — You can't deposit physical cash into either account
- May not satisfy official requirements — Some visa applications, landlords, or employers specifically require a local traditional bank account. Neither may qualify
- Support limitations — Both rely heavily on in-app support. Complex issues can be frustrating to resolve compared to walking into a bank branch
Common pitfalls
Issues that frequently catch people off guard in this area.
Common questions
Can I use Wise and Revolut as my only bank accounts?
Many expats do, but with caveats. Some landlords, employers, and visa processes require traditional bank accounts. Neither offers credit products, cash deposits, or the same deposit protection as traditional banks. They work well as primary accounts for many people, but verify your specific requirements.
Which has better exchange rates?
Both use the mid-market rate as a baseline. Wise applies this rate consistently. Revolut applies it on weekdays within free limits, but adds a markup on weekends (0.5-1%) and when you exceed limits. For weekday transactions within limits, they're similar. For weekend transactions or high volume, Wise is more consistent.
Which is safer for my money?
Both are regulated e-money institutions and must safeguard customer funds. Neither is a traditional bank with standard deposit insurance in most countries. Protection mechanisms differ by jurisdiction. For very large balances, understand the specific protections that apply to your account.
Do I need both?
Not necessarily, but many expats find value in having both. If your needs are simple (occasional transfers, some card spending), either alone may suffice. If you receive international payments AND spend frequently abroad AND want budgeting tools, using both lets you optimize each use case.
Examples
These are examples of providers in this space, not endorsements. Options, features, and pricing change. Research current offerings before making decisions.
Next steps
Continue your research with these related guides.
Sources & references
Official Sources
- Wise pricing page – Current fee structure and calculator
- Revolut pricing page – Plan comparison and fee details
- FCA (UK) – Regulatory status of both services
General References
- Company comparison tools – Third-party fee comparisons
- User reviews and forums – Real-world usage experiences
Information gathered from these sources as of January 2026. Requirements and procedures may change.