Revolut vs Transferwise

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.

Established
Established
2010
2012
TrustPilot Rating
TrustPilot Rating
Available for Registration From
Available for Registration From
EEA, CA, US, AU, SG, CH
US, AU, EAA, UK, NZ
REGULATION
FCA (UK)
FCA (UK)
ASIC (Australia)
ASIC (Australia)
BanFin (EEA)
BanFin (EEA)
FinCEN (USE)
FinCEN (USE)
SAFETY
Canceling/Freezing the card through the app
Canceling/Freezing the card through the app
Information stored in a secure data center
Information stored in a secure data center
Fingerprint login/ Face ID
Fingerprint login/ Face ID
FSCS cover (Financial services compensation scheme)
FSCS cover (Financial services compensation scheme)
Money Transfer
Transfer Method
Transfer Method
Mobile App, Bank transfer, Credit/Debit Card, Cash, Cheque
Bank transfer, Credit/Debit Card, Cash, Cheque
Delivery Speed
Delivery Speed
0-2
1-2 Days
Transaction Fee
Transaction Fee
£0.2 for the UK and £3 international transfers
Percent fee of the transfer amount, plus a fixed fee $5-10 on average
Other Fees
Other Fees
Scheduled & Recurring Payments
Scheduled & Recurring Payments
Minimum Transfer Amount
Minimum Transfer Amount
€/£/$1
€/£/$1
Countries
Countries
37
89
FEES & CHARGES
Withdrawal Fee abroad
Withdrawal Fee abroad
Free up to £200 per month. if you withdrawing more than this, Revolut will charge %0.5
2%
Exchange Rate
Exchange Rate
Mid-market
Mid-market
Free Account
Free Account
Monthly Fee
Monthly Fee
Spending & Withdrawals
Spending limits
Spending limits
£30,000 per year
There is no charge to spend a currency you hold in your account.
Withdrawing limits
Withdrawing limits
Cash withdrawals from ATMs are limited to £3,000 or currency equivalent per 24 hours
Free to withdraw up to $250 every 30 days. 2% fee after that.
CUSTOMER SUPPORT
Phone Assistance
Phone Assistance
Email
Email
App Chat
App Chat
24/7
24/7
Features
Separate money into different accounts
Separate money into different accounts
Savings Account / Saving Box
Savings Account / Saving Box
Splitting Bills With Other People
Splitting Bills With Other People
Currency Exchange
Currency Exchange
Bouns Features
Bouns Features
Insurance, Cryptocurrency trade
ONBOARDING SIMPLICITY
Full Featured App
Full Featured App
Ease of use
Ease of use
Easy
Moderate
App UX
App UX
Mobile Adaptive Website
Mobile Adaptive Website
9 working days
up to 3 weeks

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.