Is Revolut better than Transferwise?
Both companies offer online banking and money transfer services and both are well-regulated, secure and customer-oriented, giving banks a good run for their money. When transferring smaller amounts, the two services rate evenly, however, for higher transfer amounts — Revolut takes the lead since there are fewer limitations on the amount you can send. In addition, if you plan to use the service while traveling overseas – Revolut is a better option, offering a range of features for use while abroad.
Revolut Ltd is a British financial technology company that offers banking services including GBP and EUR bank accounts, a prepaid debit card, fee-free currency exchange, stock trading, cryptocurrency exchange, and peer-to-peer payments
Transferwise is a money transfer service established by two Estonian professionals working between their native country and the UK. The company’s concept known as peer-to-peer transfers is similar to the one CurrencyFair uses and means matching people’s transactions going the opposite ways. They also charge a small commission while using the inter-bank mid exchange rate, unlike making money on the exchange rates, like traditional currency transfers companies do. TransferWise’s net profit reached $8 million in 2018 with a customer base of over 4 million people.