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Personal Finance · head to head

Revolut vs Wise Business

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
Wise Business logo

Wise Business

Accounting

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Only Revolut has a free tier, so it costs nothing to try first.
  • Each has a real cost: 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.; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • They diverge on capability: Revolut covers Revolut Bank EEA deposits, Wise Business covers International transfers.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Revolut and Wise Business actually diverge.

Attributes where Revolut and Wise Business differ
AttributeRevolutWise Business
Starting priceFree$29/month
Pricing modelFree standard tier; paid plans add higher limits, insurance and perksusage-based
Free tierYesNo
PlatformsiOS, Android, WebWeb, Ios, Android, Api
CategoryPersonal FinanceAccounting
FoundedUnknown2011

Identical on both: user rating (Not yet rated).

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

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

Only in Wise Business

  • International transfers
  • Batch payments
  • API access
  • Team management
  • Xero
  • QuickBooks
  • Various
  • FCA regulated

Both cover

  • Multi-currency accounts

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 Wise Business
  • A user in the EEA who wants their balance held with a licensed bank covered by a deposit guarantee schemenot Wise Business
  • A UK-based user who understands their balance sits under e-money safeguarding rather than FSCS bank protection, and is comfortable with thatnot Wise Business
  • An investor wanting stock or crypto trading integrated with everyday spending in a single appnot Wise Business

Wise Business

  • Holding and converting multiple currencies as a businessnot Revolut
  • Paying international suppliers and contractors at the mid market ratenot Revolut
  • Receiving payments into local currency account details in several countriesnot 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.

Wise Business

  • Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • Volume discounts on transfers start only above 20,000 GBP equivalent sent per month

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

Wise Business

$29/month
  • StandardFree
    • Multi-currency account
    • Real exchange rate
    • Batch payments

Which should you pick?

Choose Revolut if

  • You need revolut bank eea deposits.
  • You want to start without paying.
  • You work on iOS, Android, Web.
  • You also want stock, crypto and commodity trading.
Revolut review

Choose Wise Business if

  • You need international transfers.
  • You work on Web, Ios, Android, Api.
  • You also want batch payments.
Wise Business review

Questions people ask

Is Revolut or Wise Business better?
Neither clearly leads. Revolut starts at Free and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Revolut or Wise Business?
Revolut has a free tier; the other does not. Paid plans start at Free for Revolut and $29/month for Wise Business.
Does Revolut or Wise Business run on more platforms?
Revolut runs on iOS, Android, Web. Wise Business runs on Web, Ios, Android, Api.
Can I use Revolut for free?
Yes. Revolut has a free tier, so you can try it without paying. Wise Business starts at $29/month.
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 Wise Business is typically brought in for.
What can Revolut do that Wise Business cannot?
Revolut covers Revolut Bank EEA deposits, Stock, crypto and commodity trading, Budgeting and spending analytics, Virtual and disposable cards. Wise Business covers International transfers, Batch payments, API access, Team management. Both handle Multi-currency accounts.

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.

Wise Business: How fast are international transfers with Wise Business?

Wise Business offers fast global payments with 70% arriving in 20 seconds and 95% arriving in under 24 hours. You can also pay up to 1,000 contacts in a single batch transfer.

Source
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.

Wise Business: Does Wise Business offer volume discounts?

Yes, volume discounts are available on monthly transfers over 20,000 GBP or equivalent.

Source
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.

Wise Business: How does Wise Business keep funds secure?

Wise customers move over AED60 billion monthly with systems built to keep funds safe. The company runs over 7 million daily fraud checks (80 per second), keeps funds diversified with secure financial institutions, and offers 24/7 customer support.

Source
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