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Revolut vs TransferWise

Which can save you more on your next international money transfer?

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We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

Revolut is a digital bank that offers account holders a range of benefits, especially in the field of currency exchanges and international money transfers. TransferWise is one of a new field of money transfer services which offers mid-market rates. So which can give you better value for money when you're making an overseas transfer?

The fees and rates used in this comparison are accurate as of 3 April 2019.

Which has lower fees?

Revolut

Revolut charges membership fees, ranging from $0 for the basic option to $22.99 per month for the top tier option. You'll probably only need the top tier option if you're transferring large amounts, though. There are also various fees, such as for card delivery.

For transfers themselves, you'll incur wire transfer fees when sending money to a recipient outside the EU or if the transfer is not in euros. These fees can be unpredictable and potentially quite large depending on the payment.

TransferWise

TranferWise's fees will also vary depending on where the money is going but will be clearer, more predictable and typically lower for all except the larger transfers.

Trophy icon
Winner: Tie

Revolut can come out ahead if you're sending money to Europe, but for most other locations it will be more expensive to use. TransferWise allows you to avoid those unwanted wire transfer fees, and will often be cheaper.

Let's crunch the numbers: Sending $1,000 and $10,000 to Germany

To show you what transfers with Revolut and TransferWise look like, here's an example of sending two different amounts to Germany.

Keep in mind that Revolut would be considerably less cost-effective than what is shown here for transfers to anywhere outside of Europe. We're also not including the monthly fee and we are assuming that this transfer is made during the week, as Revolut adds a 0.5% margin on AUD/EUR transfers on weekends.

This comparison essentially assumes that you're getting the best possible value from Revolut for a single transfer.

Sending $1,000 to Germany
RevolutTransferWise
Transfer fee$0$5.12
Exchange rate1 AUD = 0.6333 EUR1 AUD = 0.6333 EUR
Transfer speed3-5 days1-2 days
Total euros receivedEUR€633.30EUR€630.06
Receiver getsEUR€3.24 moreEUR€3.24 less
Sending $10,000 to Germany
RevolutTransferWise
Transfer fee$0$42.76
Exchange rate1 AUD = 0.6333 EUR*1 AUD = 0.6333 EUR
Transfer speed3-5 days1-2 days
Total euros receivedEUR€6,329.83EUR€6,305.92
Receiver getsEUR€23.91 moreEUR€23.91 less

*Assuming you're using basic Revolut without any monthly fees, the mid-market rate only applies to the first $9,000 transferred per month. 0.5% is removed from the receiving currency amount for transfers beyond that limit. This comparison takes that into account.

Under optimal conditions, Revolut will be more cost-effective than TransferWise, putting you about EUR€3 to EUR€20 ahead when you include the fees from TransferWise in your calculations. But TransferWise will most likely come out on top if you add in the cost of a Revolut subscription fee, send money on a weekend, send money in a currency other than euros or send money anywhere other than Europe.

Which offers better exchange rates?

Revolut

Revolut will offer mid-market rates with some caveats:

  • Transfers with major currencies: 0% markup
  • Transfer amounts above the limit for your subscription: 0.5% markup
  • THB, RUB, UAH and TRY transfers: 1% markup
  • All other currencies: 0.5% markup
  • THB, RUB, UAH and TRY transfers outside forex market hours: Additional 1% mark-up
  • All other currency transfers outside forex market hours: Additional 0.5% markup

For example, say you need to transfer Russian rubles within your subscription limit on a weekend:

  • If the mid-market rate is 1 AUD = 46.380 RUB
  • Revolut's exchange rate would be 1 AUD = 45.4524 RUB

TransferWise

TransferWise offers the mid-market rate all the time for all currencies without any special conditions.

  • If the mid-market rate is 1 AUD = 46.380 RUB
  • TransferWise's exchange rate would be the same as the mid-market rate

Trophy icon
Winner: TransferWise

TransferWise offers mid-market rates without all the caveats.

Which is faster?

Revolut

Revolut says transfers will usually take 3-5 days, but that you can speed it up by paying extra or by signing up for the Premium or Metal upgrades.

TransferWise

TransferWise says payments can be done in 1-2 days depending on the destination.

Trophy icon
Winner: TransferWise

TransferWise's 1-2 days is less than Revolut's 3-5 days.

General features

Payment methodsReceiving optionsMinimum and maximum transfer amountsTransfer speedsCurrencies
RevolutRevolut accountBank transfer, Revolut accountMinimum: £0

Maximum: £75,000

3 - 5 days100+
TransferWiseBank transferBank transferMinimum: $1

Maximum: $1,800,000

1 - 2 days30+

Revolut

To sign up for Revolut, you will need to create an account and can then request to receive a card. Once you have your account and card, you will need to top up your Revolut account from your bank account before you can use it.

After this, you can start holding multiple currencies in your Revolut account, access overseas ATMs and take advantage of Revolut's travel money options.

TransferWise

To send money with TransferWise you will have to create an account. Then you can enter the details of your transfer and make your deposit to TransferWise, which it will send onwards overseas.

You can also hold multiple currencies in your TransferWise account with TransferWise Borderless.

Bottom line

Revolut is mainly designed for travellers, but it can also be effectively used for international money transfers in certain situations.

But for everyday value for money in more situations, a dedicated international money transfer service like TransferWise will still tend to offer better value for money.

Looking for more options?

The table below shows a range of other potential options for your next money transfer. Try entering your transfer amount and currency. It will crunch the numbers and show you how much different services may cost you.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.712 USD
7,119
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.712 USD
7,119
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.712 USD
7,119
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.712 USD
7,119
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
GBP 3,000 1 day AUD 0.00 0.712 USD
7,119
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
AUD 1 1 day AUD 52.00 0.711 USD
7,074
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 0 Same day AUD 2.99 0.707 USD
7,066
Special offers like free transfers and better exchange rates available for new customers.
Affordable transfers around the world with both express and economy options. Express transfers delievered in as little as 10 minutes for an extra fee.
Go to site Show details
AUD 1 Same day AUD 0.00 0.711 USD
7,111
Get fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.714 USD
7,100
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.708 USD
7,074
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.706 USD
7,059
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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