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YouTrip vs Revolut vs Wise in Singapore
Which of these digital wallets offer the best features and lowest fees for international payments?
With FX conversion fees, exchange rate markups and other charges inflating the cost of cross-border payments, multi-currency accounts are rapidly becoming a mainstream personal finance tool around the world.
In this comparison guide, we’ll be taking a closer look at three popular multi-currency accounts to help you make a more informed decision.
A quick review: YouTrip, Revolut and Wise
YouTrip is the first locally introduced multi-currency travel wallet that comes with a prepaid Mastercard. With the Youtrip card, you can make payments online and at POS (point-of-sale) terminals worldwide, in over 150 currencies without any fees. It also doubles up as an EZ-Link card that can be used to pay your public transport fares in Singapore.
The app also comes with a host of convenient payment features, such as the conversion and storage of 10 different currencies and 24/7 in-app exchange rate monitor.
Revolut is a digital bank account and app that makes it easier to manage your money and spend it around the world. The main features of Revolut include allowing you to hold multiple currencies in your account, make international money transfers at the real exchange rate and get a simple view of your spending history with Revolut’s app.
There are three account tiers to choose from including one free account tier.
The Wise Multi-Currency Account is an electronic money account that lets you hold 50+ currencies, spend worldwide and transfer money to over 80 countries at competitive FX rates. You’ll also receive bank account details in 9 countries (e.g. UK account number, Euro IBAN, US routing number etc) so you can manage your transactional needs like a local in multiple countries.
You’ll also have the option to order the Wise Prepaid Card, which can be used for payments and cash withdrawals in 200+ countries.
|Subscription fees||Three account tiers available, starting at S$0/month||No annual or subscription fees||No fees|
|Overseas payments||Yes. Spend in over 150+ currencies||Yes. Spend in over 150+ currencies||Yes. Spend in over 150+ currencies|
|Interbank exchange rates|
|Foreign currency exchange||Exchange in 30+ fiat currencies||Up to 10 currencies||50+ currencies|
|Overseas ATM withdrawals||Yes, fee-free limit depends on account tier||Yes. S$5 per withdrawal||Yes. 2 free withdrawals (up to S$350 / 30 days|
|Spend rewards||1% cashback on all card payments (Metal plan only)|
|Mobile payments compatibility||Apple Pay and Google Pay||Apple Pay and Google Pay|
|Travel coverage||Yes (Premium and Metal plans only)|
|Travel perks||Yes (Premium and Metal plans only)|
|Exclusive deals and privileges|
|Find out more|
*Information provided in the table is accurate as of 4 July 2022.
From low-cost money transfers, in-app currency exchange to customisable security settings, each of these three digital payment service providers offers great features in addition to being a multicurrency wallet.
Depending on your needs, one of these payment apps may be better suited for you than the other:
- Best for finance management – Revolut
- Designed for travellers and jammed-packed with advanced insights, budgeting and goal-based savings tools. It can also be effectively used for international money transfers in certain situations.
- Best value for cross-border transactions – Wise
- As a dedicated international money transfer service, Wise offers the widest range of foreign currencies, better FX rates and even local bank details in 9 countries.
- Best no-frills card for online purchases and local use – YouTrip
- Suitable for those who prefer a simple, fee-free multicurrency prepaid card that doubles up as an EZ-Link card for public transport.
Compare a range of digital banks in Singapore
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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