Revolut vs Wise: Which Is Better in 2026?
Last updated: 14.06.2026
Revolut and Wise are two of the biggest names in UK fintech, but they serve subtly different needs. Revolut is a full-service current account with a UK banking licence, offering budgeting tools, savings pots, investments and multi-currency spending in 150+ currencies. Wise is a specialist money account built around holding and converting 40+ currencies at the mid-market rate, with local bank details in several countries and transparent, low transfer fees. Both are free at the base tier and both issue Mastercard debit cards. Overall, Revolut wins for most UK current account users: it offers broader everyday banking features, FSCS deposit protection up to £85,000, and strong travel benefits even on the free plan. Wise is the better choice if your priority is sending money abroad or managing life across multiple currencies.
Revolut is the stronger all-round current account, backed by a UK banking licence and FSCS protection that Wise simply cannot match. For everyday banking combined with competitive international spending, Revolut has the edge.
Head-to-head: Revolut Current Account vs Wise Account
 Revolut Current Account | Wise Account | |
| Rating | 4.0 /5 | 3.0 /5 |
| Monthly fee | £0/month (Standard Plan) | £0/month |
| Debit card | ✓ | ✓ |
| Credit card | ✗ | ✗ |
| Apple Pay | ✓ | ✓ |
| Google Pay | ✓ | ✓ |
| Cash withdrawal abroad | Free up to £200/month; then 2% | Free up to £250/month; then 2.69% |
| Online account opening | ✓ | ✓ |
| Deposit protection | 85.000 | – |
| iOS app | ✓ | ✓ |
| Branches | ✗ | ✗ |
Winner by category
Both accounts are free to open and carry no monthly fee on the standard plan. Revolut charges no fee for standard domestic payments and offers free ATM withdrawals up to £200 per month abroad, after which a 2% fee applies. Wise has a slightly higher free ATM allowance of £250 per month before its 2.69% fee kicks in. There are no hidden monthly charges on either, though Wise charges a small per-transaction conversion fee, while Revolut applies a weekend FX markup and fair-usage limits on currency exchange on the free plan. For pure account maintenance costs, this is effectively a draw.
Both accounts provide a Mastercard debit card with Apple Pay and Google Pay support, and both allow spending in foreign currencies. Revolut pulls ahead here because it supports spending in 150+ currencies with competitive interbank-rate conversions (subject to fair-use limits on the free plan), while Wise covers 40+ currencies. Revolut also enables instant card freezing, virtual card creation, and disposable cards for online shopping. Wise does not offer virtual or disposable cards. For sheer payment versatility, Revolut wins.
For international transfers and multi-currency holding, Wise is the clear leader. It gives you local bank details in GBP, EUR, USD, AUD and several other currencies, making it easy to receive payments as a local in multiple countries. Transfer fees are shown upfront and are consistently low. Revolut offers faster international transfers at competitive rates, but the mid-market rate is only guaranteed on weekdays and within monthly limits. If you regularly send or receive money in multiple currencies, Wise's transparency and local account details give it a meaningful advantage.
This is the sharpest difference between the two products. Revolut now holds a UK banking licence and offers FSCS deposit protection up to £85,000, meaning your money is protected if the company fails. Wise is an e-money institution, not a bank, and safeguards customer funds in segregated accounts rather than offering FSCS cover. Safeguarding provides a reasonable level of protection, but it is not equivalent to statutory deposit insurance. For anyone keeping meaningful savings in their account, Revolut's FSCS protection is a significant advantage.
Both apps are well-rated on iOS and Android, with clean interfaces and real-time notifications. Revolut's app is noticeably more feature-rich: it includes spending analytics, savings pots, stock and crypto trading, group expense splitting, and subscription management. Wise keeps things simpler, focused on balance management and transfers. Customer support is primarily in-app for both, with no branch or phone support. Revolut's broader feature set and regular app updates give it the edge here, though users who find Revolut's interface overwhelming may prefer Wise's more focused experience.
For a UK user looking for a primary current account, Revolut delivers more for free: broader spending features, FSCS protection, savings pots, and a richer app. Wise offers outstanding value for a specific use case, namely, holding and moving money across currencies with maximum transparency. If you already have a main bank account and want a specialist multi-currency wallet, Wise is excellent. If you want one account to do most things well, Revolut is the stronger choice overall.
Choose Revolut Current Account
Revolut suits UK residents who want a modern current account to replace or complement their traditional bank. It works well for frequent travellers who spend in multiple currencies and want to avoid foreign transaction fees. The free plan is genuinely useful for everyday spending, ATM withdrawals abroad, and budgeting. Revolut also appeals to anyone interested in managing savings pots, splitting bills with friends, or dabbling in stocks and crypto from a single app. Students and young professionals who want a feature-packed account without paying monthly fees will find Revolut hard to beat. The FSCS protection makes it comfortable to keep a meaningful balance here, unlike with e-money accounts.
Choose Wise Account
Wise is best suited to people whose financial lives span more than one country. Freelancers and remote workers paid in EUR, USD or other currencies will particularly value the local bank details and mid-market conversion rates. Expats living in the UK who regularly send money home, or UK residents supporting family abroad, will find Wise's transparent fee structure saves them money compared with high-street banks. Wise also works well as a companion account alongside a main UK bank: use your primary account for direct debits and salary, and Wise for international transfers and overseas spending where conversion rates matter most.
Use both or switch?
You can absolutely use both accounts at once, and many people do. A common setup is to keep Revolut as a day-to-day spending and savings account, then use Wise specifically for international transfers or receiving payments in foreign currencies. Opening either account takes around ten minutes online with just your phone and ID. If you want to switch your primary banking to Revolut, the UK Current Account Switch Service (CASS) makes the process straightforward: it moves your direct debits, standing orders, and incoming payments automatically within seven working days, and redirects any payments sent to your old account for at least three years. CASS is free and you can request it directly through the Revolut app.
Verdict
For most UK users in 2026, Revolut is the better choice as an everyday current account. It combines competitive international spending with budgeting tools, savings features, and now the security of FSCS deposit protection up to £85,000. The free Standard plan is genuinely capable, and upgrading to a paid tier unlocks meaningful travel perks if you need them.
Wise earns its place for a specific audience: people who regularly move money across borders or need to hold balances in multiple currencies. Its mid-market rates and local bank details in several countries are hard to match. The absence of FSCS protection is a real limitation, but if you treat Wise as a spending and transfer tool rather than a savings account, that risk is manageable. The smartest move for internationally active users is to hold both: Revolut for daily UK life, Wise for cross-border transactions.
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FAQ
Revolut is the stronger all-round current account for UK users, thanks to its broader feature set, FSCS deposit protection up to £85,000, and competitive international spending. Wise is better for a specific purpose: sending money abroad or holding multiple currencies at mid-market rates.
Both are free at the base level with no monthly fee. Wise applies a small per-transaction conversion fee that Revolut avoids on weekdays within fair-use limits. Revolut adds a weekend FX markup. For regular international transfers, Wise is often cheaper; for everyday spending, Revolut is comparable or better.
Revolut is safer in terms of deposit protection. It holds a UK banking licence and offers FSCS protection up to £85,000. Wise is an e-money institution and safeguards funds in segregated accounts, but this is not the same as FSCS cover. For keeping larger balances, Revolut provides stronger statutory protection.
Yes, and many users do. There is no rule against holding both. A common approach is to use Revolut for everyday UK banking and Wise for international transfers or receiving payments in foreign currencies. Both accounts are free at the standard tier.
Revolut's app is more feature-rich, with spending analytics, savings pots, stock and crypto trading, and group expense splitting. Wise's app is simpler and more focused on balance management and transfers. If you want a powerful all-in-one financial app, Revolut wins; if you want a clean, focused interface, Wise is easier to navigate.
Revolut is stronger for travel overall. It supports spending in 150+ currencies, offers free ATM withdrawals up to £200 per month abroad, and the higher paid tiers add travel insurance and lounge access. Wise covers 40+ currencies with a slightly higher free ATM limit of £250 per month and charges a transparent conversion fee. Both beat traditional banks, but Revolut offers more travel-specific perks.
You can use the free UK Current Account Switch Service (CASS), which is available through the Revolut app. CASS moves your direct debits, standing orders, and incoming payments to your new Revolut account within seven working days and redirects payments sent to your old account for at least three years. The process is fully automated.
Wise offers an optional 'Assets' feature that invests your balance in money market funds, which can generate returns, but this is not a guaranteed interest rate and carries investment risk. Revolut offers savings pots with interest rates that vary by plan and partner. Neither offers a traditional savings account with a fixed guaranteed rate, though Revolut's paid plans include more competitive savings options.