TransferWise vs Revolut Comparison
Compare features to find which solution is best for your needs.
TransferWise
Wise (formerly TransferWise) is a multi-currency account and international money transfer service offering cheap, fast, and transparent ways to send and receive money globally. It provides real mid-market exchange rates, unlike traditional banks, and allows users to hold and manage balances in over 50 currencies. by TransferWise LTD
Revolut
Revolut is a comprehensive financial super app offering global money transfers, currency exchange, budgeting tools, and investment opportunities, including cryptocurrencies, all accessible through a user-friendly mobile interface. by Revolut Ltd
Summary
TransferWise and Revolut are both powerful solutions in their space. TransferWise offers wise (formerly transferwise) is a multi-currency account and international money transfer service offering cheap, fast, and transparent ways to send and receive money globally. it provides real mid-market exchange rates, unlike traditional banks, and allows users to hold and manage balances in over 50 currencies., while Revolut provides revolut is a comprehensive financial super app offering global money transfers, currency exchange, budgeting tools, and investment opportunities, including cryptocurrencies, all accessible through a user-friendly mobile interface.. Compare their features and pricing to find the best match for your needs.
Pros & Cons Comparison
TransferWise
Pros
- Uses the real mid-market exchange rate, saving money on conversions.
- Transparent fee structure displayed upfront.
- Fast transfer speeds for many corridors.
- Multi-currency account with local bank details simplifies receiving international payments.
- User-friendly web and mobile interface.
- Wise debit card is useful for international spending.
Cons
- Fees for very small transfers can be proportionally higher.
- Does not support all countries or currencies.
- Customer support is primarily online.
- Identity verification can sometimes cause initial delays.
Revolut
Pros
- Excellent for international money transfers and currency exchange.
- Offers a wide range of financial services in one app (banking, investing, budgeting).
- Competitive exchange rates close to the interbank rate.
- Strong security features, including virtual cards and instant card freezing.
- Generally user-friendly and intuitive mobile interface.
Cons
- Customer support can sometimes be challenging to access and slow.
- Fee structures can be complex depending on the plan and usage.
- Some advanced investment features are limited compared to dedicated platforms.
- The app can feel a bit crowded with the increasing number of features.
