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Revolut vs Wise (TransferWise)

Which can save you more on your next international money transfer?

Revolut is a digital bank that offers account holders a range of benefits, especially in the field of currency exchanges and international money transfers. Wise is one of a new field of money transfer services which offers mid-market rates. So which can give you better value for money when you’re making an overseas transfer?

The fees and rates used in this comparison are accurate as of June 2019.

Revolut is not available in New Zealand yet

Unfortunately, Revolut does not currently let you send from New Zealand. However, it has announced that it will be expanding its services to New Zealand soon. No date is available for when this will happen.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
NZD 1 1 - 2 days NZD 80.00 0.716 USD
7,105
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Which has lower fees?

Revolut

Revolut charges membership fees, ranging from $0 for the basic option to $22.99 per month for the top tier option. You’ll probably only need the top tier option if you’re transferring large amounts, though. There are also various fees, such as for card delivery.

For transfers themselves, you’ll incur wire transfer fees when sending money to a recipient outside the EU or if the transfer is not in euros. These fees can be unpredictable and potentially quite large depending on the payment.

Wise

TranferWise’s fees will also vary depending on where the money is going but will be clearer, more predictable and typically lower for all except the larger transfers.

Trophy icon
Winner: Tie

Revolut can come out ahead if you’re sending money to Europe, but for most other locations it will be more expensive to use. Wise allows you to avoid those unwanted wire transfer fees, and will often be cheaper.

Let’s crunch the numbers: Sending $1,000 and $10,000 to Germany

To show you what transfers with Revolut and Wise look like, here’s an example of sending two different amounts to Germany.

Keep in mind that Revolut would be considerably less cost-effective than what is shown here for transfers to anywhere outside of Europe. We’re also not including the monthly fee.

This comparison essentially assumes that you’re getting the best possible value from Revolut for a single transfer.

Sending $1,000 to Germany
RevolutWise
Transfer fee$0$5.12
Exchange rateNZD$1 = EUR€0.6333NZD$1 = EUR€0.6333
Transfer speed3–5 days1–2 days
Total euros receivedEUR€633.30EUR€630.06
Receiver getsEUR€3.24 moreEUR€3.24 less
Sending $10,000 to Germany
RevolutWise
Transfer fee$0$42.76
Exchange rateNZD$1 = EUR€0.6333*NZD$1 = EUR€0.6333
Transfer speed3–5 days1–2 days
Total euros receivedEUR€6,329.83EUR€6,305.92
Receiver getsEUR€23.91 moreEUR€23.91 less

*Assuming you’re using basic Revolut without any monthly fees, the mid-market rate only applies to the first $9,000 transferred per month. 0.5% is removed from the receiving currency amount for transfers beyond that limit. This comparison takes that into account.

Under optimal conditions, Revolut will be more cost-effective than Wise, putting you about EUR€3 to EUR€20 ahead when you include the fees from Wise in your calculations. But Wise will most likely come out on top if you add in the cost of a Revolut subscription fee, send money on a weekend, send money in a currency other than euros or send money anywhere other than Europe.

Which offers better exchange rates?

Revolut

Revolut will offer mid-market rates with some caveats:

  • Transfers with major currencies: 0% markup
  • Transfer amounts above the limit for your subscription: 0.5% markup
  • THB, RUB, UAH and TRY transfers: 1% markup
  • All other currencies: 0.5% markup
  • THB, RUB, UAH and TRY transfers outside forex market hours: Additional 1% mark-up
  • All other currency transfers outside forex market hours: Additional 0.5% markup

For example, say you need to transfer Russian rubles within your subscription limit on a weekend:

  • If the mid-market rate is NZD$1 = RUB46.380
  • Revolut’s exchange rate would be NZD$1 = RUB45.4524

Wise

Wise offers the mid-market rate all the time for all currencies without any special conditions.

  • If the mid-market rate is NZD$1 = RUB46.380
  • Wise’s exchange rate would be the same as the mid-market rate

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Winner: Wise

Wise offers mid-market rates without all the caveats.

Which is faster?

Revolut

Revolut says transfers will usually take 3–5 days, but that you can speed it up by paying extra or by signing up for the Premium or Metal upgrades.

Wise

Wise says payments can be done in 1–2 days depending on the destination.

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Winner: Wise

Wise’s 1–2 days is less than Revolut’s 3–5 days.

General features

Payment methodsReceiving optionsMinimum and maximum transfer amountsTransfer speedsCurrencies
RevolutRevolut accountBank transfer, Revolut accountMinimum: £0

Maximum: £75,000

3–5 days100+
WiseBank transferBank transferMinimum: $1

Maximum: $2,200,000

1 - 2 days30+

Revolut

To sign up for Revolut, you will need to create an account and can then request to receive a card. Once you have your account and card, you will need to top up your Revolut account from your bank account before you can use it.

After this, you can start holding multiple currencies in your Revolut account, access overseas ATMs and take advantage of Revolut’s travel money options.

Wise

To send money with Wise you will have to create an account. Then you can enter the details of your transfer and make your deposit to Wise, which it will send onwards overseas.

You can also hold multiple currencies in your Wise account with Wise Borderless.

Bottom line

Revolut is mainly designed for travellers, but it can also be effectively used for international money transfers in certain situations.

But for everyday value for money in more situations, a dedicated international money transfer service like Wise will still tend to offer better value for money.

Keep in mind also that Revolut is not yet available to use in New Zealand.

Looking for more options?

The table below shows a range of other potential options for your next money transfer. Try entering your transfer amount and currency. It will crunch the numbers and show you how much different services may cost you.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 - 2 days NZD 0.00 0.713 USD
7,134
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies. Go to site Show details
NZD 250 1 day NZD 0.00 0.713 USD
7,134
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send has fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
NZD 0 Same day NZD 0.00 0.713 USD
7,127
XE has fast transfers with competitive rates and a range of foreign currency tools. Go to site Show details
NZD 2,000 2 days NZD 0.00 0.713 USD
7,134
Exclusive offer: Discounted exchange rates for all Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
NZD 250 1 day NZD 0.00 0.713 USD
7,134
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
NZD 1 Within an hour NZD 3.99 0.712 USD
7,120
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
NZD 1 1 - 2 days NZD 80.00 0.716 USD
7,105
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
NZD 5 1 - 2 days EUR 3.00 0.711 USD
7,107
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
NZD 10,000 1 - 2 days NZD 0.00 0.711 USD
7,105
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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