Revolut or Transferwise??

What is the differences between Revolut & Transferwise? Are there any restrictions to one or the other that I should be aware of?

It’s down to personal preference.
:r: is cheaper generally but has terrible support.
TW has a cost for everything all be it small but has much better support.

I would suggest you get both and try them out. I usually use :r: for conversion then send to TW for spending using the border less account.

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I wouldn’t say that 35 basis points is small. That’s a huge markup. Revolut has no markup, at least in major currency pairs.

True, Revolut does not add a markup for major currencies during FX market hours, but outside of FX market hours they even apply 50 points.

Unfortunately the free conversion is so far the only argument in favour of Revolut.

Don’t forget Revolut’s lack of fees on outgoing bank transfers.

That will depend on the currency though, e.g. euro transfers are free with Transferwise as well.

transferwise SWIFT might not be free but the payee receives exactly what you send (SHA vs OUR)

I wanted to say the same, transfers are free for many currencies, here you will find the exceptions:

I’m using both (because I need TW for CHF top up). But in my own opinion Revolut has a more “user-friendly” app with many functionalities, you can easily send money to an other Revolut user, free currencies converter, free transfers too, payments details and categories, etc…
I’ve never had any problem with Revolut (nor with TW), to be honest I’m a regular but not big user and I can’t find any big advantage on TW.
@Powie I would be curious to know why using TW for spending ? I mean, once you convert into Revolut, why not to use it for spending then?

Edit: I found an advantage, you can manage your TW account on the Internet, you don’t need the cellphone only.
alessandro and Powie are right, regarding the forum, support seems bad, but fortunately I’ve never had any problem until now so…

With the mandatory contact access, I’d argue that :slight_smile:

In theory Revolut might have some advantages but a lot of that is negated by their infamous level of support respectively broken promises and intransparency.

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Following a recent incident with failed payments and extremely poor support that followed I lost confidence in :r:


it might be worth noting that transferwise now provides debit cards to businesses.

For me TW feels made (focused) for people who frequently transfer money to other countries and/or change currency and not for everyday life.

Not their customer as they don’t even offer top-up from credit cards without additional charges. I know we can top-up via bank transfer without charges, but that’s just lame (takes long time - like days). Unless all banks move to instant transfer method, then it might change picture a bit.

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That’s the impression I have too. Transferwise is primarily for moving money, whereas Revolut is primarily for spending money.

I tend to do both. Everyday spend with Revolt and also use it for my main forex and transfer/payment agent.

It’s particularly useful as I divide my time between the Euro area and the UK. Makes it almost seamless.

And yes, the instant topping up by credit cards is a big plus for me.

It might depend on the card, but last time I topped up there was no such surcharge.

For SEPA payments exactly one day.

And if you happen to transfer on non-working day? ha ha… :frowning:

Some planning ahead might be neccesary.

I am not saying card topups are bad, I am arguing wire topups are not as bad as you made them look like :slight_smile:

we all agree things could be worse :wink:

I use them both. TW has only a limited number of countries where money can be transferred, while R can send potentially everywhere. The problem with R is that there is no control over the transfer fees, when intermediary banks are involved.
Also, the FX rates in R during the weekend are almost always worse than those offered by TW.

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