TRAVELWISE

Introduction

Managing money across borders is one of the biggest challenges digital nomads face. Traditional banks charge high fees for international transfers and ATM withdrawals, and opening a local account in every country is impractical. Thankfully, fintech solutions like Wise (formerly TransferWise) and Revolut offer multi‑currency accounts and low‑fee services tailored to global citizens. In this post we compare Wise and Revolut across fees, exchange rates, usability and card features so you can decide which is best for your nomadic lifestyle.

Overview of Wise and Revolut

Wise launched in 2011 to disrupt the expensive, opaque world of bank transfers. It offers local bank details in multiple currencies (USD, EUR, GBP, AUD, NZD, SGD and more) so you can get paid like a local and hold dozens of currencies. Wise charges transparent fees and uses the real mid‑market exchange rate.

Revolut, founded in 2015, started as a prepaid card with cheap foreign exchange and has grown into a digital bank offering personal and business accounts, stock trading, cryptocurrency buying and travel perks. Revolut offers tiered plans—Standard (free), Plus, Premium and Metal—each unlocking different benefits.

Fee Comparison

Fee Type	Wise	Revolut
Account opening	Free (no monthly fee)	Free (Standard plan)
Exchange rate	Mid‑market + small percentage fee	Mid‑market but mark‑up on weekends
International transfer fee	0.35–1% depending on currencies	Free up to plan limit; then markup
ATM withdrawals	Free up to £200/month; 1.75% after	Free up to £200/month; 2% afterwards (Standard plan)
Card replacement fee	~£5–£7	Varies by plan; free for Premium/Metal

Wise generally offers lower fees for large transfers, while Revolut shines for day‑to‑day spending and offers extra perks (airport lounge access, travel insurance) on paid plans.

Currency Support and Limits

Wise lets you hold and convert over 50 currencies with no monthly limits. Revolut supports around 30 currencies, with monthly exchange limits on the free plan (€1,000/month). Beyond that, a small fee applies. If you frequently move money between less common currencies (e.g., Thai baht), Wise may have better coverage.

Card Features

Both services offer virtual and physical debit cards that work globally. Revolut’s Premium/Metal cards include airport lounge access and purchase protection, whereas Wise focuses on core banking functions. Both integrate with Apple Pay and Google Pay.

Security and Reliability

Wise and Revolut are regulated financial institutions. Wise is authorised in the UK and EU and registered with FINCEN in the USA. Revolut holds a banking licence in several European countries. Both use encryption, two‑factor authentication and segregated accounts to protect customer funds.

Ease of Use

Users often praise Wise’s simple interface and straightforward pricing. Revolut’s app offers more features but can feel cluttered. Consider what you need: if you want budgeting tools and investment options, Revolut might suit you; if you simply want cheap transfers and multiple bank details, choose Wise.

Which Should You Choose?

Choose Wise if: you regularly receive payments in different currencies, want transparent fees and need a straightforward banking solution.

Choose Revolut if: you value an all‑in‑one super‑app, travel frequently within Europe and are willing to pay for Premium or Metal plans to unlock perks.

Conclusion

Both Wise and Revolut have revolutionised banking for digital nomads. Your choice depends on whether you prioritise transparency and simplicity (Wise) or flexibility and extra features (Revolut). Many nomads hold accounts with both providers to maximise benefits. To learn more about managing money while travelling, read our upcoming post How to Manage Money While Travelling (internal link).