admin
In this post, we’ll break down:
-
Overview of Wise and Revolut
-
Key Differences
-
Benefits of Each Platform
-
Requirements to Open an Account
-
Which One Should You Choose?
🌍 Quick Overview
| Feature | Wise | Revolut |
|---|---|---|
| Founded | 2011 | 2015 |
| Origin | UK (as TransferWise) | UK |
| Focus | International money transfers and multi-currency accounts | Digital banking, budgeting, currency exchange, and crypto |
| App Available | Yes (iOS, Android) | Yes (iOS, Android) |
⚡ Key Differences Between Wise and Revolut
| Category | Wise | Revolut |
|---|---|---|
| Primary Service | Cheap, transparent international money transfers | Digital bank offering banking, crypto, investment, and budgeting tools |
| Currency Exchange | Mid-market rate with a small fee | Mid-market rate but free only up to a limit (fees apply after) |
| Card Offering | Debit card for spending in multiple currencies | Multiple card types (Standard, Premium, Metal) |
| Account Types | Personal and Business | Personal and Business |
| Countries Supported | 170+ | 200+ (but features vary) |
| Multi-currency Account | Yes | Yes |
| Crypto Trading | No | Yes |
| Stock Investment | No | Yes |
| ATM Withdrawal | Free up to a limit, then a fee applies | Free up to a limit, then a fee applies |
🎯 Benefits of Wise
-
True Mid-Market Exchange Rate:
Wise gives you the real mid-market rate without hidden markups. Only a transparent small fee applies. -
Multi-Currency Account (Borderless):
Hold and convert over 50 currencies. You even get local bank details (like UK sort code, US routing number, EU IBAN). -
Business-Friendly:
Wise Business allows you to invoice clients, pay employees overseas, and integrate with tools like Xero and QuickBooks. -
Regulated Worldwide:
Wise is licensed and regulated across multiple jurisdictions including the UK, US, EU, Australia, and beyond. -
Debit Card for Global Use:
Spend directly from your multi-currency account and save on FX fees.
Requirements to Open a Wise Account
-
A valid government-issued ID (passport, driver’s license, or national ID card)
-
Proof of address (utility bill, bank statement, etc.)
-
An active email address and phone number
-
For business accounts: Company registration documents
CLICK HERE TO OPEN A WISE ACCOUNT!
🎯 Benefits of Revolut
-
All-in-One Banking App:
Save, spend, invest, trade crypto, buy insurance — all inside Revolut. -
Currency Exchange:
Exchange over 30 currencies at the interbank rate (with free allowance based on your plan). -
Advanced Budgeting Tools:
Track your expenses, set budgets, split bills with friends, and receive instant spending notifications. -
Crypto and Stock Trading:
Buy, sell, and hold cryptocurrencies and stocks easily from your app (beware of trading fees). -
Multiple Plan Options:
Choose from Free, Plus, Premium, and Metal plans — each with different benefits (higher withdrawal limits, airport lounge access, etc.). -
Instant Global Transfers:
Send money instantly to other Revolut users worldwide, often for free.
Requirements to Open a Revolut Account
-
Smartphone with internet access
-
Valid ID (passport, national ID card, or driver’s license)
-
Proof of residence (sometimes requested)
-
Selfie verification (you may be asked to record a short video)
-
For business accounts: Business registration documents and tax details
💬 Wise vs Revolut: Which One Should You Choose?
Choose Wise if:
-
You mainly need cheap and transparent international money transfers.
-
You want a multi-currency account with local bank details.
-
You are running an international business.
Choose Revolut if:
-
You want an all-in-one digital banking experience.
-
You are interested in crypto, stocks, or budgeting tools.
-
You travel a lot and want premium lifestyle perks (e.g., airport lounges).
👉 Pro Tip:
Many savvy users actually use both Wise and Revolut. Wise for heavy-duty international money transfers, and Revolut for daily banking and spending.
Both Wise and Revolut have revolutionized the way we handle money globally.
Your best pick depends on your lifestyle, needs, and how often you move money across borders.
💬 Have you used Wise or Revolut? Which one do you prefer? Share your experience in the comments!
