The short version
- Wise has no monthly plan. You pay a fee each time you convert, from 0.24% in the UK and from 0.23% in the US.
- Revolut has a free plan and paid monthly plans. Each plan lets you change a set amount a month before extra fees start.
- One simple setup is one as your main account and the other as your backup card.
- Fees can change by country. Read each one's own page for where you live.
What is the difference between Wise and Revolut?
Wise charges you each time you use it, with no monthly plan. Revolut has a free plan, plus paid monthly plans that raise your limits.
The figures below are for the UK and the US. They come from each provider's own pages, read on 8 October 2026.
What a multi-currency account is, and why it helps, is in the bank accounts that work abroad. This guide only compares the two.
Which one costs less to change money?
It depends on how much you change, and when.
Wise charges a fee each time you convert, on top of the mid-market rate. The fee depends on the currency. It starts from 0.24% in the UK and from 0.23% in the US.
Revolut lets you change a set amount each month with no extra fee. Above that, it adds a fee. The limit resets each rolling month.
| Revolut plan | UK | US |
|---|---|---|
| Standard | £1,000 a month, then 1% | $1,000 a month, then 0.5% |
| Plus | £3,000 a month, then 0.5% | Not listed |
| Premium | No limit | $10,000 a month, then 0.5% |
| Metal | No limit | No limit |
| Ultra | No limit | Not listed |
Revolut also adds a fee at the weekend, from 17:00 Friday to 18:00 Sunday, US Eastern Time. It is 1% on Standard in both countries, and 0.5% on Plus in the UK. The other plans pay no weekend fee.
The rate alone does not tell you the cost. Look at the amount that will land in the other currency. One simple test is to price the same amount in both and compare what you would get.
What does each one charge at a cash machine?
Both let you take out some cash each month with no fee from them. After that, they charge.
Wise in the UK: £250 a month free, then 2.69% of the amount over £250. Wise in the US: $250 a calendar month free, then $1.95 plus 1.95% on each withdrawal. The cash machine owner may charge its own fee too.
Revolut: the free amount depends on your plan. After it, Revolut charges 2% (at least £1 a withdrawal in the UK). The limit resets each rolling month.
| Revolut plan | UK, free a month | US, free a month (out of network) |
|---|---|---|
| Standard | £200 or 5 withdrawals | None, 2% on all |
| Plus | £200 | Not listed |
| Premium | £400 | $800 |
| Metal | £800 | $1,200 |
| Ultra | £2,000 | Not listed |
In the US, Revolut charges no fee at its in-network cash machines. Other fees from the machine owner may still apply.
If you use cash a lot, compare the free amount each month, not only the fee after it.
How much does each one cost a month?
Wise has no monthly fee and no plans. Opening an account is free. The card costs £7 in the UK and $9 in the US.
Revolut's Standard plan is free. Its paid plans cost this much a month:
| Plan | UK a month | US a month |
|---|---|---|
| Standard | Free | $0 |
| Plus | £3.99 | Not listed |
| Premium | £7.99 | $9.99 |
| Metal | £14.99 | $16.99 |
| Ultra | £55 | Not listed |
Revolut's paid plans run for 12 months. You can pay monthly or yearly.
A paid plan only saves money if you use what it gives you. Add up what you would pay in fees without it first.
Can clients pay you into them?
Yes, both give you account details people can pay into. They differ in which currencies.
Wise says you can get account details to receive money in 22 currencies, free, in the UK and the US. Local payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD are free to receive. Swift payments cost a fixed fee, for example $6.11 for a USD wire.
Revolut in the UK gives you a UK sort code and account number, US account and routing numbers, and a Polish IBAN. Revolut in the US gives you US account and routing numbers, and a UK sort code and account number. For other currencies, both give Swift details.
Ask each client which details they can pay to. Then check that the account you pick has them.
Is your money protected the same way?
No. It depends on the country and on whether the company is a bank there.
Revolut in the UK: Revolut says it is now a bank in the UK. Once your account has moved to Revolut Bank, eligible deposits are covered by the FSCS up to £120,000. Money in an account not yet moved is safeguarded instead. Crypto, commodities and stocks are not covered.
Revolut in the US: Revolut says it is not a bank in the US. It says money in your card account is held by Lead Bank, an FDIC-insured bank, and insured up to the set limits.
Wise in the US: Wise says it is a money service business, not an FDIC-insured bank. If you opt in to its interest feature, it offers pass-through FDIC insurance up to $250,000 through its program bank.
Ask how your money is held before you keep a large amount in any app. The bank accounts guide explains safeguarding and deposit guarantees.
Who does each one suit?
It depends on how you use money.
- Wise suits people who change money now and then, and want to pay only when they use it, with no plan.
- Revolut suits people who change money and take out cash often, and will use enough of a plan's limits to cover its price.
Can you use both?
One simple setup is one as your main account and the other as your backup card. A backup from a second company keeps you paying if the first one blocks your card or freezes your account. The bank accounts that work abroad explains why.