TransferWise vs. Revolut: A Swiss perspective


Yes, I did 12 days ago: "Great" exchange rates: Revolut does not live up to its promises

@AndreasK seems to be looking into the issue.


That’s good, hopefully they can track down the issue :slight_smile:

Edit: Ah yes, that’s the one Andreas has already mentioned in an earlier post.


Yes, KES is my main concern. But it seems that neighboring countries such as Rwanda or Uganda are not much better off. Interestingly, TZS is much closer to the interbank rate. But I think Revolut should have a pretty good overview on the real competitiveness of their exchange rates vis-à-vis the interbank rate.

Thanks for looking into the matter. I’m curious about the results, really. Because make no mistake, I do like Revolut.


that’s a big score for revolut, transferwise doesn’t do cryptocurrencies at all :wink:


Hope we get a few points :wink:


Useless the way it’s implemented.


@TheTruth What do you mean?


Can you pay with your Revolut crypto?


Not directly, but this is indicated and nobody force you to use Revolut’s crypto…

For me this is not an issue, but people tend to focus on negative side :slight_smile:


Someone has to focus on negatives when no one else will.


Not directly. If I can’t do it directly it’s not very useful to me. There are better apps and places for that.


It’s not very usefully for you, but it may be usefully for others.

You seems to be an expert or an advanced user on crypto and I totally understand that not being able to transfer crypto to your wallet or directly use it is an issue.

But for amateurs crypto users this is a great opportunity, and it will spread cryptos utilization, it will allow normal people to easily use cryptos, which is always a good thing :slight_smile:


This is a very poor argument.


Story of my life @Platin :wink:



provide reasoned counter-arguments that improve the conversation.


TransferWise - you get your own account with your name on it. Which means the funds are yours and with you only.

Revolut - you have to use their accounts which means technically you are transferring to their account in their name. There are hundreds of horror stories about money going missing for days/weeks/months without a trace. And we’re not talking about 5 or 10 but hundreds and thousands.

I’ve had my own experiences so I know first hand. But there are many poor souls who are still waiting to have money returned.

I will still use Revolut but also have Transfer wise and so far absolutely no issues - excellent service money transfers and rates are good enough.

I only found them because of the most unbelievable horrifying and stressful ordeal I went through with them.

I think one day Revolut might be able to compete with Transfer Wise but they can’t get basics right and have put many people through stress. Either they will fix or at some point they may get reported and then their reputation will be down the drain.

For me if they can’t give you your own account with your name on it this raises a massive red flag. I think you should all be careful.

If anything ever happens to the company for any reason - bankruptcy or whatever. They will probably take the money. As they only are insured per account and they use only their own account which means technically you’ll never see a dime.

Just a thought to ponder.

Also their crypto currencies aren’t really worth it in my opinion. I have a lot of experience with it and can tell you that there are many better alternatives. First you never truly own Cryptocurencies here . You are merely paying for its speculation. In other words what they are selling is worthless. Cos I can take mine anywhere and spend anywhere. You can’t and your stuck in Revolut with yours.

It’s clever idea I’ll give them that. But sorry Revolut your banking is the worst I’ve ever seen in my life.

It’s a real shame. Maybe on day you’ll be able to compete with TransferWise but until you can send money without losing it and giving so much stress and panic to your faithful customers who don’t deserve it you are at the bottom of the pile.

Most important task of a bank is to transfer and receive money and then be able to use it. Frankly there are far too many complaints about not being able to do this and ridiculous amounts of money magically disappearing without a trace is disturbing.

Get your priorities right - get rid of your cryptos or suspend and spend the money on providing actual service and ensure money doesn’t go missing.

I think you can be a great bank one day but right now still got far too much to do.


Transfer wise - winner

Revolut - Loser


I’d like to add that even if your TW account has your name in it, there is no big differences with an account without your name on it :

In both cases it seems that the protection are the same (ie. E-money )

Although your bank details are unique, they don’t represent real bank accounts, but simply ‘addresses’ for your Electronic Money account, meaning you can receive payments much like a real bank account
Your money is protected and safeguarded, but not guaranteed by the Financial Services Compensation Scheme (FSCS) that you may get with a bank account.


looking forward to revolut getting their EU banking licence soon


Yes, as am I. Also looking forward to Revolut issuing a full Debit card, not just this PrePaid second division offering. It’s not accepted at too many places compared to the full offering.

I’m perplexed why they don’t issue full Debit cards even now. Curve, a fellow eMoney licenced FinTech already issues full Debit Cards. Which are a delight to use. No idea why Revolut doesn’t follow suit.


Transferwise’s cards are also full debit cards…

I don’t even know if there’s any country in Europe where you can buy actual pre paid cards, like you do in the US where you buy a random card at a gas station