Every time you send money internationally, your bank marks up the exchange rate before you even see it. Wise and Revolut both use the real rate. Here's how to pick the right one for you.
Most people assume international bank transfers are expensive but fair. They're not. Here's exactly how you're being overcharged.
Your bank uses the real mid-market exchange rate to convert your money internally — then shows you a worse rate and keeps the difference. This is not a fee. It's invisible profit.
After the hidden markup, most banks also charge a flat wire transfer fee of $25–$45 per international transfer. Both charges hit you every single time.
Every time you use a regular bank card in another country or currency, you're charged a foreign transaction fee — typically 1.5–3% of every purchase, invisibly added to your bill.
Both are genuinely excellent. The right choice depends on what you're primarily using it for.
Free to open · No monthly fee · RandWise earns a commission at no cost to you
Free standard plan · No monthly fee · RandWise earns a commission at no cost to you
| Feature | 💚 Wise | 💙 Revolut |
|---|---|---|
| International transfer rate | ✓ Real mid-market rate always | ✓ Real rate on weekdays, small markup weekends |
| Transfer fee | ✓ One small transparent fee (~0.5%) | ✓ Free within monthly allowance |
| Free account available | ✓ Yes — free forever | ✓ Yes — Standard plan free |
| Multi-currency account | ✓ 40+ currencies | ✓ 25+ currencies |
| Debit card | ✓ Works in 150+ countries | ✓ Works in 150+ countries |
| Stock trading | ✕ Not available | ✓ Built into app |
| Crypto | ✕ Not available | ✓ Built into app |
| Budgeting tools | Basic | ✓ Full spending analytics and vaults |
| Best for large transfers | ✓ Industry-leading rates on larger amounts | Good but may exceed free allowance |
| Users worldwide | 16 million+ | 35 million+ |
You travel multiple times a year across different countries and want one card that works everywhere without fees.
Use Both — Revolut daily, Wise for transfersYou earn in USD, EUR, or GBP and need to receive payments from overseas clients efficiently.
Start with WiseYou regularly send money to family in another country and want the best exchange rate every time.
Start with WiseYou live outside your home country and need a full banking solution — spending, saving, budgeting, and investing.
Start with RevolutYou want stocks, crypto, and banking in one place without multiple apps and accounts.
Start with RevolutYou're relocating to SA and need to transfer a large amount from USD, GBP, or EUR at the best possible rate.
Start with WiseTakes 10 minutes. No credit check. No monthly fee. Start saving on your very next transfer.
RandWise earns a commission when you sign up through our links — at no cost to you. We recommend both because they genuinely save people money, not because of the commission.