- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
- Travel Debit Card
- Global Bank Accounts
- Online Only
- First £3,000 Fee Free
- 1 - 2 Days
- £1 / $1
- TransferWise Debit Card now comes with the Borderless Account!
Transferwise and Revolut are not your ordinary international money transfer providers. They fall into a different category, which is moving towards resembling online global bank accounts. The WorldFirst World Account or Payoneer are other great examples of FX providers that are expanding their products to allow for simple, low cost FX receiving accounts too. The “global wallets” or “virtual bank accounts” usually allow you to receive, hold, and send different currencies around the world. This can especially help people who are selling products internationally, and are sick of the fees and foreign exchange rates imposed by their banks or the likes of PayPal.
Side By Side
|Low rates and fees||Low rates and fees|
|No membership fees||Free limited account available. Monthly fee charged for a premium account|
|Offices in Australia, New Zealand, US, UK and Hong Kong||Offices in UK, Poland, Russia, Signapore and US|
|48 countries supported(see the full list here)||32 countries supported(Currently only available to EuroZone)|
|Hold money in 15 currencies with the Transferwise Borderless Account||Hold money in 24 currencies|
|Available to Individuals and businesses||Available to Individuals and businesses|
|Spot transfers, limit orders and forward contracts available||Only spot transfers supported|
One way to determine if you should use Revolut or TransferWise is to look at what previous customers of both companies have to say about their experiences. If you take the Revolut vs. TransferWise comparison to Trustpilot, you will notice that while TransferWise averages at 9.2 out of 10, Revolut gets an average score of 7.8 out of 10. However, other factors may affect you final decision, so read this comparison in its entirety.
The different aspects that require your consideration in selecting TransferWise or Revolut include:
- Exchange Rates
- Receiving and Holding Money
- Ease of Use
- Regular Overseas Payments
This section of the Revolut vs. TransferWise comparison tilts in favor of one company, especially if you do not plan to transfer a lot of money.
- You will need to pay a small percentage of the transfer amount as fees.
- Fees depend on where you live, the destination country, the transfer amount, and the payment method.
- Get an indication of how much you will need to pay as fees by referring to the TransferWise fee breakdown table.
- You pay no fees for adding funds or receiving money into the TransferWise Borderless account.
- Converting funds between currencies and withdrawing money into your local bank account attracts fees.
- Transfers of up to £5,000 or its equivalent per month are fee-free.
- You will need to pay a 0.5% fee if you exceed the monthly limit.
- Premium members may carry out unlimited transfers for free.
- Standard members need to pay a fee for turbo transfers.
- Check the company’s pricing details for more information.
Your decision to use Revolut or TransferWise may depend on where you and the recipient live, with the latter having a wider reach.
TransferWise lets you register from and send money to most countries, and you may check the list of countries it supports online.
Revolut is currently only available to customers in the European Economic Area. They are planning to roll out their service to more countries in the near future. See the full list of supported countries here.
Both companies fare well in this section of the TransferWise vs. Revolut comparison. High encryption levels ensure that the information you provide using their websites and apps remains secure.
- UK-based TransferWise is registered with and regulated by the Financial Conduct Authority (FCA).
- The company is sponsored by the Community Federal Savings Bank in the United States and it has licenses to operate as a money transmitter in several states.
- Headquartered in the UK, Revolut is registered with and regulated by the Financial Conduct Authority (FCA).
- Revolut Cards are issued by Revolut Ltd.
You may save some money by using ongoing promotional offers provided by both companies.
- All new TransferWise users can save by using the Fee Free up to £3000 coupon.
- As a premium Revolut member, you may benefit through free global express delivery, exclusive premium cards, overseas medical insurance, and more.
- Compare TransferWise Vs WorldFirst
- Read more about the WorldFirst World Account
- Compare TransferWise and CurrencyFair side by side.
- Read more with the TransferWise Review
- Watch a YouTube video on how to apply your TransferWise Coupon or Voucher.