Wise vs Revolut: which is better?

What Wise and Revolut actually are

The Wise vs Revolut question starts with what kind of company you're trusting with your money, because that decides how it's protected.

Wise. If you live in the EEA, your account is with Wise Europe SA, which Wise describes as "an authorised payment institution supervised by the National Bank of Belgium." Wise doesn't lend out your money. Instead it safeguards it: keeps it separate from its own money, in a mix of cash at commercial banks and low-risk liquid assets. Wise says this means its payment services "aren't subject to the Belgian Deposit Guarantee Scheme." Its help centre also mentions protection under the Estonian Guarantee Fund up to €20,000; read Wise's article for exactly what that covers.

Revolut. In most of the EU, personal accounts are held with Revolut Bank UAB, a bank based in Lithuania. Its depositor information sheet says deposits are insured by the Lithuanian public institution "Deposit and Investment Insurance", up to €100,000 per depositor across all your deposits with Revolut Bank UAB. The same sheet lists electronic money among the things deposit insurance does not cover, and investments and crypto are not deposits either. Revolut's fee terms say crypto is offered by a separate company, Revolut Digital Assets Europe Limited.

In plain terms: a deposit guarantee pays you back up to a limit if a bank fails. Safeguarding means a payment company must keep your money apart so it can be returned if the company fails, but there is no government-backed payout limit behind it.

Wise vs Revolut compared

Checked November 2026: fees change, so check the provider's site before you sign up. Wise figures come from its Irish and Dutch pricing pages. Revolut figures come from its Standard plan fee terms for Revolut Bank UAB customers, in the version applying from 22 April 2025; customers in Germany with a DE IBAN have a slightly different version. Paid Revolut plans have different limits.

Exchange rates and fees

Wise uses the mid-market rate, the midpoint between buying and selling prices that you see on Google, and adds a visible fee. Its Irish pricing page lists conversion "from 0.2%", varying by currency. If you already hold the currency in your Wise account, spending it with the card is free.

Revolut uses its own exchange rate, which it says is based on data feeds from independent sources. On Standard, exchanges on weekdays carry no fee while you stay within €1,000 a month. Above that, a 0.5% fair usage fee applies to the extra amount. At weekends, a 1% fee applies. Card payments abroad in a currency you don't hold are converted in real time and count towards the same limit. Premium, Metal and Ultra plans have no exchange limit.

Cards and ATMs abroad

Both give you a debit card you can use worldwide, plus free virtual cards on Revolut.

• Wise: free ATM withdrawals up to €250 a month per account, then 2.69% of the amount above €250. Withdrawing €400 in a month costs €4.04.
• Revolut Standard: up to 5 withdrawals or €200 a month free, whichever comes first, then 2% of each withdrawal with a €1 minimum. Two withdrawals of €200 cost €4 (the second one).

The ATM owner may add its own fee on top in either case. If a cash machine or shop offers to charge you in euros instead of the local currency, say no: that's dynamic currency conversion, and the rate it uses is set by the machine's operator, not by your card. See our guide to the best bank accounts for travel for more on this.

Multi-currency accounts, interest and business

Wise gives you account details to receive money in 22 currencies; receiving domestic (non-SWIFT) payments in currencies such as EUR, GBP and USD is free, while SWIFT payments carry a fee. Its Interest feature puts your money in a fund, with an annual fee from 0.31%; Wise warns that capital is at risk. Its Assets feature is an investment held in segregated accounts.

Revolut lets you hold and exchange multiple currencies in one app and send free instant transfers to other Revolut users, local payments and euro SEPA payments. For savings or interest products, check what's offered in your country and whether it's a protected deposit or an investment.

Business: Wise says its business account has no setup or monthly fees. Revolut's personal fee terms include a Revolut Pro account with its own card payment processing fees; for a company account, check Revolut's business pages.

Which one suits you?

Wise may suit you if you send or receive money internationally, convert larger sums, want predictable mid-market-based pricing at any time of the week, or don't want a subscription.

Wise may not suit you if you want a bank account with deposit guarantee cover, or you take out more than €250 in cash a month abroad.

Revolut may suit you if you want a free everyday account with a €100,000 deposit guarantee, spend modest amounts abroad on weekdays, and like budgeting features in one app.

Revolut may not suit you if you convert more than €1,000 a month on the free plan, often pay abroad at weekends, or don't want to be nudged towards paid plans and in-app investing.

Many people keep both: there's no rule saying you must pick one. Whichever you choose, small fees add up, so it's worth a yearly check, as in our list of ways to save money every month. Official sites: wise.com and revolut.com.