Now, there are some complicated examples of transfers that are not free. For instance, you cannot move them into your cryptocurrency wallet. Revolut’s price structure is mostly based on monthly subscriptions and restrictions on the number of local and international transfers you can make per month depending on it. TransferWise and Revolut offer services that are quite similar. We can see the same recurring themes in negative reviews for both companies. On the other hand, TransferWise allows you to hold money in 50 currencies! Shortly after this event, the Chief Financial Officer (CFO) of Revolut stepped down, increasing the controversy and conjectures around Revolut. Both Revolut and TransferWise offer a banking & money transfer alternatives to banking via simple and easy to use apps which save you time, money and bureaucracy. Get our best strategies and tips straight to your inbox. Unfortunately, this is very poorly documented. Revolut has always been faster than my bank account. So we’ve covered the past two years at a high-level. However, my transfers with Revolut have always been swift. TransferWise always tries to process transfers as quickly as possible and manages to offer instant transfer for some of the major currency routes. I would not worry too much about that. TransferWise always tries to process transfers as quickly as possible and manages to offer instant transfer for some of the major currency routes. However, since they increased their fees in June 2020, you can only convert small amounts each month (maximum of 1000 GBP) per month. 3 Likes. I would advise being careful before depositing too much money in any of these two services in both cases. This makes them have different strengths. The offer of a Maestro is a good point in favor of Revolut. It is convenient if you get paid in dollars or have investments in USD. Revolut is still cheaper for small amounts (less than 1250 CHF per month). Moreover, Revolut has a banking license. However, there is a limit of 1000£ (GBP) per month. Do you prefer TransferWise or Revolut? Today, I am going to answer the question: Which is better between TransferWise and Revolut? As a side note, you can use one of the premium accounts of Revolut to increase the monthly limit for free transfers. But it is not critical anymore. However, this doesn’t apply to all intermediary banks as some banks might not charge anything. Second to the banking industry, at least 7% of Transferwise and Revolut… On the other hand, Revolut offers transfers for free! But this does not help Revolut’s reputation. Personal users use it as a travel card as it's cheaper and more convenient compared to going to the bank or currency exchange points to get cash before traveling. To Paysera account you can send the EUR through Transferwise. These two services are only good for money transfers involving two different currencies. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. This can cost around £20 - £40. Premium. When comparing TransferWise vs Revolut, I prefer TransferWise over Revolut. 79% of people say it is excellent, and 12% say it is great. We can also compare the reputation of these two services. The former one provides free domestic bank transfers in many countries … That means you can hold cryptocurrencies in your account. Check out these Revolut alternatives, like N26, Bunq, Transferwise, and more! On the other hand, this is not a free service. But they have many great views, and their scores are excellent. The main focus of TransferWise was for people working abroad. You can do transfers in almost any currency. I think it is good that TransferWise focuses on doing one single thing very well rather than trying to do everything at once. However, I am not sure these features will appeal to everybody. For every transfer you make, there’s a small, transparent fee which is displayed on the transfer page before proceeding. From your account, you can transfer money to other users as well as directly to bank accounts. Standard. They also have 2-step login and verification procedures.³. And you cannot get your cryptocurrencies out of your Revolut account. Mr. If you are traveling to a lot of countries, this could make a difference. However, for most users, the limits of TransferWise should be more than sufficient. Many of my readers asked me why I was mainly using my Revolut card, where I could have only used my TransferWise card. You can learn more about it in my full review of Revolut. Users can carry out single transactions or regular payments, though this is restricted to certain countries. They have fewer features, but they also offer free purchase abroad with their Mastercard. Your whole financial life at your fingertips. Just like TransferWise, Revolut has the obligation to ‘safeguard’ their customers' money and have procedures in place to keep your money safe. For small amounts of money, Revolut is better than TransferWise. TransferWise gets a score of 4.6 out of 5 on Trustpilot. Swift transfers normally reach the beneficiary account in 1 - 3 working days but in some cases it can take up to 10 working days depending on which countries the transactions involve. Also, I have heard about many people having issues with their accounts and losing some money, even in Switzerland. Revolut Vs. TransferWise. View all posts by Mr. TransferWise on the other hand doesn’t have any allowances restricted by subscriptions. Revolut does not have such a guarantee. Different Memberships of Transferwise and Revolut Regarding transparency, TransferWise has an exchange rate and fee calculator on its homepage. And they have many budgeting capabilities in the mobile application. They both have some pros and cons. And since 2020, they are now available in the United States as well. There has been some recent controversy about Revolut. On the other hand, Revolut has many features. Moreover, their system is much simpler. But I have never read any facts about this. But this is not a significant difference for me. However, they are still different in their fees and their offers. For this, I am going to use Trustpilot as a reference (in January 2020). 86% of people are reviewing TransferWise as Excellent and 8% as Great. TransferWise has more advantages than Revolut. Indeed, you need to use your local credit card for that. We're going to compare TransferWise and Revolut because these two companies are … Of course, these are only rumors. Revolut: TransferWise: Revolut allows you to send money either to another Revolut user or to a bank. It was launched in 2011. For instance, with Revolut, you are only allowed one SWIFT transfer outside of the SEPA region. These people can receive a salary in a currency different than the country they are living in. The exchange rate is not as good as on Revolut, but still very good. How to send money from PayPal to TransferWise? There are almost no fees and the limits for ATMs are more than decent. They are using a very complicated pricing system. However, nothing prevents you from using two different cards. Overall, Revolut is available in 32 European countries. Prior results do not guarantee a similar outcome. But Revolut could come around! As for the cards themselves, Revolut offers a Mastercard and a Maestro, while TransferWise only offers a Mastercard. After this, they will cost you 4 USD. Indeed, there is generally some truth behind such claims. In early 2019, the news reported that thousands of suspicious transactions were allowed to go through the Revolut system. Which should you use? Let’s start with Transferwise… On the other hand, Revolut is generally free for most currency pairs. 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