UK Price Comparison Research 2024
An independent research team compared Wise to six UK bank accounts, as well as Monzo, Starling, Revolut, PayPal, Xoom, Western Union and Post Office. They...
Are you paying more than you think with Revolut?
At first, Revolut might look like the cheaper option. Dig a little deeper and it turns out Wise could offer the better deal.
How do Wise and Revolut differ? Both let you hold and convert money in multiple currencies, send money abroad, and receive international payments. Revolut has a banking licence which allows for perks like subscriptions, travel insurance, and crypto. Meanwhile, Wise is built for one thing: helping you move money across borders — clearly, quickly, and affordably.
So, if you care about low fees and clear pricing, read on.
Revolut’s ‘free’ isn’t always free
Revolut offers ‘free’ currency conversion on spending and sending money using their own exchange rate — but only on your first £1,000 each month if you’re on the Standard plan. After that, there’s a 0.5% fair usage fee, and if you use it on the weekend, you’ll be charged an extra 1%.¹ ²
Fees like this add up. Sending £1,000 before hitting the limit might cost £1.50. Once you go over, that same transfer cost? It can jump to £11.50, that’s a 600% increase.³
You could upgrade to paid plans to remove limits — but that can cost up to £55/month,² and you’re paying that whether you use your full allowance or not. If you’re only sending £500 a month, that paid subscription could end up costing you far more than Wise’s pay-as-you-go fee.
If you look at their pricing table here — it’s really not clear how much you’ll pay to move and spend money abroad.
Wise, smart yet simple
Wise gives you the real mid-market exchange rate and charges a small, upfront fee, usually between 0.4% and 0.6%.⁴ There are no monthly plans to unlock better rates. And if you send £20,000 a month or more, Wise automatically give you a discounted fee.⁵ The more you send, the better value you get.
Whether you’re sending £500 for a trip or £50,000 for a home deposit, you’ll get the same deal, without having to subscribe or second guess your plans.
What about international transfers?
Wise is designed for fast and affordable international transfers that keeps costs down by avoiding unnecessary intermediary fees and helps your money move faster too. Over 60% of Wise transfers arrive in under 20 seconds, and 95% in 24 hours as of Q1 2025.⁶ Together, this means fast and less expensive transfers for you.
You also get local account details in over 9 major currencies — like USD, EUR, GBP, AUD, NZD and CAD — so you can send and receive money as if you had a bank account in those countries.⁷ That means fewer delays and fewer deductions from some intermediary banks.
With Revolut, your local account details depend on where you’re registered. Personal accounts in Europe only include local details for GBP and EUR.⁸ While accounts in the UK only include GBP local account details and SWIFT account for international transfers.⁹ USD local account details are generally only available if your account is registered in the US.¹⁰ Otherwise, you’ll need to use SWIFT to receive USD or other currencies outside Europe and that can mean slower transfers and fees taken off before the money arrives. Revolut’s “fee-free” transfers mostly apply to other Revolut users or bank accounts in the Eurozone.¹¹
Is Wise the better value for your money?
If you’re sending, spending, or receiving money across borders, Wise keeps it simple and affordable.
You get the real exchange rate, around-the-clock, with low fees and no surprises. Unlike Revolut, there’s no need to pay for a subscription just to access low fees or know exactly what you’ll pay for at Wise.
Revolut may suit you if you want an all-in-one app for banking, crypto or travel perk and you’re happy to pay every month for those extras. When it comes to simple, low-cost ways to move money across borders, Wise could be the better choice for you.
Clear pricing. Just money without borders.
Want to learn more? Check out our deep dive below
Sources
- Revolut– Fees
- Revolut - Pricing plans
- Wise- Revolut vs Wise
- Wise – Pricing
- Wise- Large transfers
- Wise– Mission Update Q1 2025
- Wise – Local account details
- Revolut – GBP and EUR account details and currencies
- Revolut - GBP account details and currency
- Revolut– USD and GBP account details and currencies
- Revolut - Sending money overseas
Info based on public data as of May 2025.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Money without borders
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