Wise vs Revolut differs in how each platform prices international payments, applies FX rates and handles ongoing business usage.
Wise uses the mid-market rate with a transparent transfer fee, while Revolut applies a plan-based structure in which costs vary by limits, markups and timing. For UK businesses, these differences directly impact margins, cash flow and cost predictability.
This guide compares Wise vs Revolut across fees, FX rates and key features, showing how each option performs in real business payment scenarios.
It also explains how WorldFirst fits into this conversation as a trusted provider for multi-currency accounts and international business payments in the UK.
Wise vs Revolut: an overview
Here’s how Wise and Revolut compare across the features that matter most:
Wise overview
Wise is a London-based company founded in 2011, built to make international payments simpler and more transparent for businesses.
Wise is listed on the London Stock Exchange and serves millions of customers globally, which shows how widely it’s used for international payments.
Key features:
- Multi-currency account (40+ currencies): Hold, send and receive money across 40+ currencies from a single account
- Local bank details for receiving payments: Get local account details in major currencies like GBP, EUR and USD, so clients can pay you as if you had a domestic account
- Transparent FX with mid-market rates: Uses the real exchange rate with no markup and shows the full cost before you send money
- Predictable pay-per-transfer pricing (from ~0.41%): Clear fee structure with a fixed fee plus a variable percentage, making costs easy to track
- Local routing for faster transfers: Uses local payment rails where possible to reduce intermediaries and improve delivery consistency
- Multi-currency card with direct balance usage: Spend directly from your balances using the mid-market rate, with simple ATM rules (first 2 withdrawals free, then 2% + fixed fee)
- Safeguarding of funds with major banks: Keeps customer funds with partners such as Barclays and JPMorgan Chase rather than lending them out
Considering other options similar to Wise? Check out our full guide to the best Wise alternatives and find the right fit.
Revolut overview
Revolut is a London-based company founded in 2015 that aims to combine international payments with a wider set of financial tools.
Revolut serves tens of millions of customers globally and operates with banking licenses in multiple regions, which support its expanded financial offering.
Key features:
- Multi-currency account with global payments: Hold and exchange currencies and send money to 160+ countries, with features depending on your plan
- Plan-based FX with monthly allowances: Exchange currency at base rates within limits (e.g., ~$1,000 standard, ~$10,000 premium), then ~0.5% markup applies
- Flexible pricing structure: Costs vary based on plan, usage and timing, including transfer fees that can reach ~5% or fixed fees for small transfers
- Multiple card options (physical, virtual, disposable): Use different card types for spending, including disposable cards for safer online transactions
- ATM withdrawals with plan-based limits: Withdraw within your plan allowance, then pay a 2% fee after exceeding the limit
- Fast internal transfers: Send money to other Revolut users in around 20 seconds, with international transfers typically up to 2 business days
- Advanced security and fraud detection: Uses AI and machine learning to detect suspicious activity, with funds stored at partner banks and FDIC protection up to $250,000 in applicable regions
Read more:
Wise vs Revolut: accounts
While both Wise and Revolut offer multi-currency accounts, the difference is in how you hold, receive and manage currencies in daily business operations
Wise Business account
Wise provides a multi-currency account built for international payments.
You can:
- Hold money in 40+ currencies
- Send payments to 140+ countries
- Receive funds using local bank details in major currencies
Revolut Business account
Revolut also offers a multi-currency account, with a wider set of financial features inside one platform.
You can:
- Hold and exchange multiple currencies
- Send payments to 160+ countries
- Access additional tools depending on your plan
What this means for your business:
- Wise focuses on straightforward currency handling and international payments
- Revolut offers a wide account setup with more built-in tools
Wise vs Revolut: fees
The UK aligns with the G20 target to reduce cross-border payment costs to below 3%. However, current averages remain higher, making the fee structure a key factor in choosing a provider.
Wise fees
Wise uses a pay-per-transfer model.
You pay a fixed fee plus a variable percentage based on the currency and amount, with pricing starting from around 0.41% of the transfer value for some routes.
The exchange rate is the mid-market rate with no markup and you always see the full cost before sending.
Revolut fees
Revolut takes a different approach. Pricing depends on your plan and how much you use it.
Transfers can include a percentage-based fee that, in some cases, reaches up to 5% of the transfer amount or a fixed fee (up to about US$10 for smaller transfers), whichever is higher.
What this means for your business:
- With Wise, you pay on every transfer, but costs stay clear and consistent
- With Revolut, the cost depends on plan, usage and timing, so it can change month to month
Wise vs Revolut: exchange rates
Exchange rates drive most of your total cost, often more than fees.
Data from the World Bank shows that cross-border payments cost around 6% on average globally, with a large share coming from FX margins built into the exchange rate rather than shown separately.
Wise exchange rates
Wise uses the mid-market exchange rate, the same rate you see on Google or other public sources, with no markup added.
Instead, Wise charges a separate, clearly stated fee, so the exchange rate itself stays transparent.
What matters most:
- The rate matches the real market rate
- No hidden margin inside the FX
- Easy to compare against public data
Revolut exchange rates
Revolut uses its own exchange rate structure, which can include markups depending on your plan, usage and timing.
For currency exchanges within the app:
- Standard plan → up to around $1,000 per month at base rates, then ~0.5% markup
- Premium plan → higher monthly allowance (around $10,000), then ~0.5% markup
- Metal plan → no set monthly limit
Why this matters for your business:
If your business pays overseas suppliers, receives revenue in foreign currencies or regularly converts money, even small differences in exchange rates can affect your margins.
Example:
- £100,000 in monthly currency conversions
- A 0.5% difference in FX rate = £500 per month
Wise vs Revolut: transfer speed
According to the Bank for International Settlements, only around 35% of global cross-border payments are credited within one hour, showing how delays still affect many international transfers.
Wise
Wise often avoids traditional SWIFT routing by using local settlement systems where possible.
Typical transfer times:
- To other Wise users → usually instant
- USD to US accounts → 0–3 business days (ACH) or same/next day (wire)
- USD to international accounts → 1–6 business days
Revolut
Revolut uses a mix of local payment networks and SWIFT, depending on the route.
Typical transfer times:
- To other Revolut users → around 20 seconds
- Local USD transfers → 1 business day (wire) or up to 5 days (ACH)
- International transfers → up to 2 business days via SWIFT
What this means for your business:
- Wise offers more consistent delivery, especially when it uses local rails
- Revolut can be fast in some cases, but timing depends more on the route and method
Wise vs Revolut: cards
Cards are increasingly used for everyday international spending, making their FX handling and withdrawal terms important for businesses.
Wise Multi-Currency Card
Wise offers the Wise Multi-Currency Card, linked directly to your account balances.
What to expect:
- One-time card fee (no ongoing subscription required)
- Spend in multiple currencies using the mid-market exchange rate
- First two ATM withdrawals are free (up to a set limit), then fees apply
ATM structure:
- First 2 withdrawals → free within limit
- After limit → 2% fee on withdrawals
- Additional withdrawals → small fixed fee per withdrawal
- ATM providers may charge their own fees
Revolut cards
Revolut offers a range of cards depending on your plan.
Available options:
- Physical cards
- Virtual cards
- Disposable cards for online payments
Higher-tier plans (like Premium and Metal) include additional card features and higher usage limits.
ATM structure:
- The monthly withdrawal allowance depends on your plan
- Premium → higher free limit
- Metal → even higher limit
- After allowance → around 2% fee applies
What this means for your business:
- Wise keeps card spending simple and directly linked to your currency balances
- Revolut gives you more card options and flexibility, depending on your plan
Wise vs Revolut: security
Both Wise and Revolut provide secure, regulated environments for international payments.
According to the Association for Financial Professionals, 79% of organisations report payment fraud attempts, which shows how exposed businesses can be when sending money internationally.
Wise
Wise focuses on safeguarding customer funds and securing transfers.
Wise does not lend your money. It keeps customer funds with established banking partners such as Barclays and JPMorgan Chase, in accordance with safeguarding requirements.
Revolut
Revolut combines bank-level protection with app-based security controls.
Revolut stores customer funds with partner banks such as Lead Bank and Sutton Bank and provides FDIC insurance up to US$250,000 per bank, per applicable region.
What this means for your business:
For your business, both are secure, but Wise focuses on protecting your funds, while Revolut gives you more control through app features and real-time alerts.
Which one should you choose?
Choose Wise if:
- You want clear, upfront pricing on every transfer
- You make regular international payments and need predictable costs
- You rely on local receiving accounts to get paid like a domestic business
- You want a setup focused purely on cross-border payments and FX clarity
Choose Revolut if:
- You want to manage payments, cards and spending in one place
- Your team uses cards for day-to-day expenses
- Your FX activity stays within plan limits most of the time
- You value flexibility and additional features over fixed pricing
Where Wise and Revolut fall short for growing SMEs
As your business grows, these limitations become more noticeable:
- Limited control over FX timing: Conversion happens at the point of transaction, making it harder to hold funds, choose the right moment to convert and manage FX exposure
- Costs increase with volume: With Wise, every transfer adds a fee, while with Revolut, costs increase after plan limits, so total costs grow as your payment volume increases
- Limited support for trade-heavy operations: If you pay multiple international suppliers, receive revenue in different currencies or operate across markets, basic transfer tools start to feel limited
You may need:
- Better control over when and how you convert currency
- More structured handling of multiple currency balances
- A setup that supports ongoing international trade, not just transactions
A better option for global businesses: World Account
Wise works well for businesses that want transparent pricing and straightforward international transfers. Revolut works best for companies that want payments combined with cards, spending tools and additional account features.
Both cover the basics. A WorldFirst goes further.
WorldFirst is not a bank but a regulated payments provider that offers a multi-currency World Account and international payment solutions for businesses operating across markets.
It supports businesses that regularly operate internationally and need control, consistency and a clear structure for managing payments and currencies.
How a World Account supports your business:
- Manage currencies without forced conversion: Hold funds in 20+ currencies and convert when it fits your strategy. You decide when to convert instead of relying on transaction timing
- Pay globally with fewer limitations: Send payments in 100+ currencies to over 200 countries
- Receive like a local in key markets: Get local account details in the UK, US, EU and Australia. Customers pay you like a domestic business, which improves cash flow
- Clear and consistent FX pricing: See FX margins upfront and keep them stable. Plan costs and protect margins without dealing with changing pricing structures
- Designed for growing international operations: Manage currencies, payments and balances in one place. Reduce the need for multiple tools and simplify cross-border cash flow
Quick comparison: Wise vs Revolut vs World Account:
| Feature / capability | Wise | Revolut | World Account |
|---|---|---|---|
| Currencies you can hold | 40+ | Multiple | 20+ with full control over conversion timing |
| Currencies you can pay | 160+ countries | 140+ countries | 100+ currencies to 200+ countries |
| FX structure | Mid-market + fee | Plan-based with limits | Clear, consistent FX margins |
| FX control | Limited (convert at transaction) | Limited (depends on plan) | Full control over when to convert |
| Local receiving accounts | Yes (major currencies) | Available, varies | Major markets (UK, US, EU, AU and more) |
| Transfer routing | Often local rails | Local + SWIFT mix | Global network with predictable delivery |
| Best for | Transparent transfers | Flexible account features | Businesses scaling internationally |
In conclusion, choose a World Account if you:
- Want control over when and how you convert currency
- Pay suppliers or receive revenue across multiple markets
- Need predictable FX pricing as volume increases
- Want to hold, convert and move money without limits
- Prefer one platform that supports ongoing international operations
Open a World Account today for free and simplify how your business handles global payments, currencies and costs.
FAQ
1. Is Wise cheaper than Revolut?
It depends on how you use them. Wise offers more predictable pricing on every transfer, while Revolut can be cheaper within plan limits but may cost more once you go over them.
2. Who has better exchange rates, Wise or Revolut?
Wise uses the mid-market rate with no markup and adds a clear fee. Revolut offers competitive rates within its limits, but applies markups once you exceed them or convert at certain times.
3. Are Wise and Revolut real banks?
No. Both are regulated financial institutions, but neither is a traditional bank. They focus on payments and currency services rather than lending.
Sources:
- https://wise.com/gb/business/
- https://www.revolut.com/business/
- https://www.worldfirst.com/uk/
- https://www.worldfirst.com/uk/blog/international-transactions/revolut-review/
- https://remittanceprices.worldbank.org/
- https://www.paymentsdive.com/news/cross-border-payments-goals-remain-elusive/808277/
- https://www.financialprofessionals.org/training-resources/resources/survey-research-economic-data/details/payments-fraud
