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Personal Finance · head to head

Revolut vs Wallet

Revolut logo

Revolut

Personal Finance

Multi-currency financial app operating as a licensed bank in parts of the EU and as an e-money institution elsewhere

From
Free
Rated
-
Full reviewWebsite
W

Wallet

Personal Finance

Smart expense tracking and budgeting

From
Free
Rated
-
Full reviewWebsite

The short version

  • They diverge on capability: Revolut covers Multi-currency accounts, Wallet covers Expense tracking.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Revolut and Wallet actually diverge.

Attributes where Revolut and Wallet differ
AttributeRevolutWallet
Pricing modelFree standard tier; paid plans add higher limits, insurance and perksfreemium
PlatformsiOS, Android, WebWeb, IOS, Android
FoundedUnknown2010

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Revolut

  • Multi-currency accounts
  • Revolut Bank EEA deposits
  • Stock, crypto and commodity trading
  • Budgeting and spending analytics
  • Virtual and disposable cards
  • Business accounts (Revolut Business)

Only in Wallet

  • Expense tracking
  • Budget management
  • Receipt scanning
  • Financial analytics
  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Revolut

  • Someone travelling or living across multiple currencies who wants low-cost exchange and spending in one accountnot Wallet
  • A user in the EEA who wants their balance held with a licensed bank covered by a deposit guarantee schemenot Wallet
  • A UK-based user who understands their balance sits under e-money safeguarding rather than FSCS bank protection, and is comfortable with thatnot Wallet
  • An investor wanting stock or crypto trading integrated with everyday spending in a single appnot Wallet

Wallet

  • Budget Managementnot Revolut
  • Expense Trackingnot Revolut
  • Investment Trackingnot Revolut

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Revolut

  • UK customer balances have historically been held under an e-money institution licence, meaning they are not covered by the Financial Services Compensation Scheme the way a traditional UK bank deposit is, even though Revolut was granted a restricted UK banking licence in 2024.
  • Regulatory status differs by country of use, EEA versus UK versus other markets, so the actual protection on a given balance depends on where the account is domiciled, not on the brand alone.
  • Customer service has been a recurring complaint, with account freezes for fraud checks sometimes leaving customers unable to access funds for extended periods with limited direct human contact.
  • The free tier caps fee-free currency exchange at a monthly allowance, after which a fair usage fee applies, so heavy multi-currency users may need a paid plan to avoid extra charges.
  • The breadth of features, banking, trading, crypto and business accounts, spans multiple regulatory regimes and legal entities, which makes the overall structure harder for a typical customer to fully understand than a single-licence traditional bank.

Wallet

Nothing recorded yet. See the Wallet review.

Pricing, plan by plan

Revolut

Free
  • StandardFree
    • Free multi-currency spending up to a monthly exchange allowance
    • Basic budgeting tools
    • UK balances held under e-money safeguarding, not FSCS-protected as a standard bank deposit
  • Premium$7.99/month
    • Higher free exchange allowance
    • Travel insurance and card delivery perks
    • Priority customer support
  • Metal$14.99/month
    • Cashback on card spending
    • Higher limits across features
    • Metal card and additional insurance cover

Wallet

Free
  • FreeFree
    • Expense tracking
    • Basic budgets
  • Premium$4.99/month
    • Advanced analytics
    • Custom categories
    • Receipt scanning

Which should you pick?

Choose Revolut if

  • You need multi-currency accounts.
  • You want to start without paying.
  • You work on iOS, Android, Web.
  • You also want revolut bank eea deposits.
Revolut review

Choose Wallet if

  • You need expense tracking.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want budget management.
Wallet review

Questions people ask

Is Revolut or Wallet better?
Neither clearly leads. Revolut starts at Free and Wallet at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Revolut or Wallet?
Revolut starts at Free and Wallet at Free.
Does Revolut or Wallet run on more platforms?
Revolut runs on iOS, Android, Web. Wallet runs on Web, IOS, Android.
Can I use Revolut for free?
Both have a free tier, so you can try either at no cost before committing.
What is Revolut best used for?
Revolut is most often used for someone travelling or living across multiple currencies who wants low-cost exchange and spending in one account, a user in the eea who wants their balance held with a licensed bank covered by a deposit guarantee scheme, a uk-based user who understands their balance sits under e-money safeguarding rather than fscs bank protection, and is comfortable with that, an investor wanting stock or crypto trading integrated with everyday spending in a single app. Of those, someone travelling or living across multiple currencies who wants low-cost exchange and spending in one account and a user in the eea who wants their balance held with a licensed bank covered by a deposit guarantee scheme are not what Wallet is typically brought in for.
What can Revolut do that Wallet cannot?
Revolut covers Multi-currency accounts, Revolut Bank EEA deposits, Stock, crypto and commodity trading, Budgeting and spending analytics. Wallet covers Expense tracking, Budget management, Receipt scanning, Financial analytics.

Answered from the vendors’ own pages

Revolut: Is my money safe with Revolut?

It depends on your country. EEA balances are held with a Lithuanian-licensed bank and generally covered by deposit guarantee up to 100,000 euro; UK balances have historically sat under e-money safeguarding rather than FSCS bank protection, though Revolut has been working toward full UK banking status since gaining a restricted licence in 2024.

Revolut: Is Revolut a bank?

In the EEA, yes, through Revolut Bank UAB, licensed in Lithuania. In the UK, it has historically operated as an e-money institution and was granted a restricted banking licence in 2024, with full UK banking status pending completion of a mobilisation period.

Revolut: Does Revolut charge for currency exchange?

Exchange is free up to a monthly allowance on the standard tier, after which a fair usage fee applies; paid plans raise or remove that allowance.

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