Revolut is a private company launched in 2015 with headquarters in the United Kingdom. Revolut provides their customers money transfer services for transfers to bank accounts and to other Revolut account holders. It has many options, but it is not always the best fit for each customer. Below you will find a list of the best Revolut alternatives you can use.
Revolut has a banking license, and clients can use the funds in their account balances to pay for goods and services with the Revolut MasterCard. Cryptocurrency trading and virtual cards are also available.
Active travelers and international business people are Revolut’s primary audience. Money can be transferred very affordably in very little time with the Revolut multi-currency card. Funds can be exchanged in their app when paying for items online or if withdrawing money using ATM.
Sending funds to bank accounts is simple and only takes a few seconds to send funds to other Revolut account holders.
Once you’ve signed up for a Revolut account, you can use a virtual card or a prepaid Visa or MasterCard debit card. You can make cash withdrawals and account chargeoffs in 120 international currencies with Revolut cards. The Revolut app lets you transfer money in 26 different currencies.
A sort code and an account number are provided by Revolut, much like what you’d receive from many traditional banks, which you can use to send and receive payments. Your Revolut account can be funded by regular debit or credit cards, Apple Pay, Google Pay, or bank transfer.
For more info about Revolut, be sure to check my Revolut review, Revolut business account review, and Revolut card pros and cons. If you are looking to integrate Revolut with WooCommerce, then be sure to check the best tools for Revolut WooCommerce integration.
Best Revolut Alternatives
Revolut is one of the best bank alternatives. Their money transfer and foreign currency services are some of their most popular features. But if you think that Revolut is not the right choice for your needs, there are plenty of Revolut alternatives you can check. Below I have listed some of the best sites like Revolut.
Wise, formerly TransferWise, was launched in 2011. It is a UK-based company, just like Revolut. Wise online account holders can spend, receive and send funds in many countries worldwide using the Wise account and Wise debit card.
Your account allows you to receive funds in various currencies and transfer funds to people in different countries. Inexpensive money transfer services are what Wise specializes in.
Wise’s transparent services and inexpensive fees have helped it increase popularity in recent years. People who need local bank information in different countries will be interested in Wise borderless accounts.
Opening a Wise multi-currency account provides:
- Hold fund balances in 56 currencies.
- Quickly convert currencies with minimal fees.
- Bank balances with account information can be received in Australian dollars, British pounds, Canadian dollars, Euros, Hungarian forint, New Zealand dollars, Romanian leu, Singapore dollars, Turkish lira, and United States dollars.
- Direct debits can be set in Euros, British pounds, Australian dollars, and US.dollars.
- Residents of Australia, New Zealand, Singapore, Europe, and the United States can currently sign up for and use a Wise debit card.
- Debit cards let you spend money in any currency. Very minimal fees are associated with Wise transactions.
- You can use virtual cards.
No costly international transaction fees or exchange rates are charged. This is one of the primary reasons for Wise’s increased customer base. One account can be used to send, receive and exchange money in multiple currencies. The current live exchange rate is always used, and Wise’s fees are some of the cheapest in the industry.
A Wise debit card can be used to withdraw money from ATMs, pay online or purchase items in multiple countries worldwide with the funds from your online account. Wise is very similar to Revolut, so it is a great alternative. For more info, you can check my Wise review and Wise debit card review.
- Price for opening personal account
- Personal account bank details fee
- Price for opening business account
- Business account bank details fee
- Countries where you can open account
- Countries where card is available
- Available currencies for convert and hold
- Receive bank details (currencies with account details)
- Credit card payments fee
- Currency exchange fee
- Withdrawing money from ATM fee
- ATM limits
- Annual fee for holding EUR balance
- 3D Secure payments
- Card limits
- Virtual cards
- Type of card
- Card contactless payments
- Fee for card payments
- Number of physical cards you can have
- Number of virtual cards you can have
- Disposable virtual cards
- Integration with accounting software
- Compatible with Apple Pay and Google Pay
- Cryptocurrencies trading
- Insurance options
- Recurring payments
- Direct debit
- Lounge pass
- Group bills
- Stock trading
- Commodities trading
- WISE (Formerly TransferWise)
- One-time fee between 16–21 GBP (or equivalent in your currency).
- UK, Switzerland, Australia, New Zealand, Singapore, Japan, most of the EEA, and US.
- USD, GBP, EUR, CAD, AUD, NZD, SGD, HUF, RON, TRY
- Free as long as the payment is in a currency that you currently hold.
- Free up to £200 (or currency equivalent) and then 1.75% on anything over 200 GBP/EUR. This fees can be different for other countries.
- Daily limit is 1500 GBP (or currency equivalent) but you can increase it.
- 0.4% if your balance is 15,000 EUR for persosnal account and 70,000 EUR for business.
- There are different limits for cardholders in different countries. But most can be increased via app.
- Coming soon
- Mastercard. Visa coming soon
- FreeAgent, QuickBooks Xero, etc.
- Email, live chat, phone
- European Economic Area, Australia, Canada, Singapore, Switzerland, Japan and the United States.
- European Economic Area, Australia, Canada, Singapore, Switzerland, Japan and the United States.
- AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR.
- Free as long as the payment is in a currency that you currently hold.
- No cost up to 1000 GBP (or currency equivalent) per month and anything over is charged 0.5% + for the weekends 0.5% markup is applied
- Free up to £200 (or currency equivalent), then a 2% fee will apply.
- Cash withdrawals from ATMs are limited to £3,000 or currency equivalent per 24 hours.
- ATM withdrawals are limited to £3,000 or equivalent per day for all cards linked to the account and £100,000 or equivalent spending limit per month per card.
- Mastercard and Visa
- FreeAgent, QuickBooks Xero, etc.
- Only for people in UK
- Chat, phone
For more info about Wise vs. Revolut, you can check my detailed comparison.
Payoneer launched in 2005. They are used for online money transfers and digital payments and also supply working capital to clients. Payoneer is a worldwide MasterCard Service Provider.
Helping organizations receive and send payments is Payoneer’s main goal. They provide services for domestic and international businesses.
Payoneer strength is in providing a platform that people use to receive and send money. Payoneer’s services are used in 200 nations, and over 150 currencies are currently supported. Funds can be sent internationally as well as within your own country. Funds can be withdrawn at ATMs with a Payoneer debit card.
Transactions can be conducted with a Payoneer Mastercard. No prepaid Visa cards are available as of this writing. eCommerce and other purchases can be completed by using a debit card.
Payoneer allows you to receive funds quickly. All ATMs worldwide will accept your Payoneer debit card. There is a daily withdrawal limit of $2,500. A foreign exchange fee of around 1% will be added when applicable.
A knowledge base and other convenient resources are available at Payoneer’s help desk. You can also contact their dedicated support staff located in offices in multiple countries by email, phone call, or live chat.
Money can always be sent from your Payoneer account to your bank account. You can use the funds from your Payoneer account to buy items online or at physical retail locations, and you can use ATMs to withdraw money.
You can spend and withdraw money from your Payoneer account with the optional prepaid debit MasterCard, which is available for an annual fee of $29.95.
Payoneer even provides bank account information. You can receive local bank transfers or Mexico, Canada, United States, Australia, Japan, the EU, and the UK. It’s similar to receiving money by regular bank transfer because Payoneer accounts operate much like a traditional local bank account.
Payoneer accounts can be accessed via mobile apps for iOS and Android devices. You can use the app to manage account funds, but you can’t make payments via the app.
Payoneer is a great Revolut alternative that is worth checking. For more info regarding Payoneer, be sure to check the Payoneer review.
N26 is a pioneer in modern banking and one of Revolut competitors. It’s a fully licensed bank based in Europe that only offers services online. This can be advantageous for people who want more than what many traditional brick-and-mortar financial institutions can provide. Their simple mobile app has many regular banking functions in a safe and secure platform.
Clients can transfer funds, top-up their accounts, and withdraw money at ATMs with the MasterCard they receive from N26. Busy international travelers can save money and complete transactions in less time and effort.
Self-employed people and individuals who conduct business in different currencies or who travel regularly may want to consider N26. There aren’t any frustrating forms or fees to concern yourself with.
N26’s services can be used by residents of the following countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the US.
You get 3 free monthly withdrawals, and after that, a 2 EUR fee is charged for each withdrawal after that limit has been reached. There’s no charge to open a standard N26 account. A free Maestro card and a free MasterCard debit card are included with the account.
Travelers will really enjoy N26’s services. There aren’t any currency conversion charges or conversion fees. The real exchange rate is always used. The only time a fee is charged is if you’re withdrawing funds out in a different currency. You can receive free travel insurance and pay fewer fees with N26’s travel card.
The app is where all transactions are managed. You can also use the app to order a new card in minutes and block your old card if lost or stolen. All transactions will have a push notification, so you can always keep a tab on your transactions.
Monese is a digital banking application and debit card that uses smartphone technology to improve your banking experience. Monese is a great choice for travelers. It makes a better banking experience possible because you can make ATM withdrawals and card payments without any fees anywhere in the world.
Monese debit cards operate much like any popular debit cards on the market today. It can be used to make contactless payments, buy items in physical stores and online, and withdraw money at ATMs. The app allows you to see bank statements, update personal information, and top-up your account whenever you want.
Contactless payments via your phone are possible since the app supports both Apple Pay and Google Pay. Monese offers low-cost currency exchange rates and money transfers as it uses the interbank rate, resulting in less expensive international transfers and foreign exchanges.
There are several ways that you can add money to an account. Current Monese accounts include a sort code and a bank account number so that people living in the United Kingdom can successfully receive bank transfers.
Transfers can be from individuals or businesses. European IBAN is used to make payments into a Monese account for those who live outside of the UK. As a Revolut alternative, Monese is a great choice.
ZEN is a fintech company. They have developed several digital financial solutions due to their partnership with MasterCard. Clients can use their contactless payment cards to pay for items online and at physical retailers. Their resources allow entrepreneurs, freelancers, and customers to manage their cash flow and financials as needed.
MasterCards in the digital-only or plastic form are supplied to ZEN customers. Those cards can be added to Google Pay and Apple Pay mobile wallets because of MasterCard’s tokenization technology. This makes it easier for people to pay in stores and online for goods and services safely, quickly, and securely.
One-year manufacturer’s warranty extensions and cashback are some of the exclusive benefits ZEN payment cardholders can use. They can pay for items in 30 different international currencies free from commission fees when using funds from their multi-currency account.
Most of us have experienced different problems with various electronics after their respective warranties have expired. A nice function that ZEN offers is the ability to add another year to the warranties of all electronic products that were bought with a ZEN MasterCard.
Companies and individuals that use ZEN don’t need to worry about any chargeback claim requests. They can report these claims to ZEN by following the simple steps. ZEN’s care package will take care of those matters for clients.
The instant payment flow is available to entrepreneurs. This convenient ZEN service ensures that all money transfers are completed within hours from when the transactions were first initiated.
Their mobile app can be used to manage all services. The app is easy to use and understand. ZEN also provides customer support and service at all hours of the day or night.
People who spend money regularly can make the most out of their ZEN MasterCard. Your account can be managed right from your pocket and works like many other traditional accounts. ZEN even has its own IBAN. You can hold and transfer funds in 30 different currencies.
Anyone who lives within the European Economic Area can access ZEN’s services. The company has office locations in Lithuania, the Netherlands, and Poland. The European Banking Authority and local regulators approved their digital money license in 31 nations and were issued by the central bank of Lithuania.
Customer service is currently available in French, Spanish, Polish, German, and English. More languages are expected to be added in the future.
Nuri (Formerly Bitwala)
Berlin-based fintech Bitwala changes its name to Nuri and is launching a redesigned web and mobile app. The aim is to make innovative financial solutions accessible to a broader, more diverse audience and become more inclusive.
As a fully serviced mobile bank account, Nuri enables customers to manage their day-to-day finances and offer investments in cryptocurrencies.
Nuri provides customers with a full range of banking services along with affordable fees and strong customer service. As a cryptocurrency bank, it operates as efficiently as traditional banks.
You can conduct banking activities using a desktop or mobile applications. It is very convenient to use and can greatly simplify trading and saving.
Nuri is similar to Revolut as it also offers trading with crypto. You can use your bank account to sell and purchase Bitcoin. This is a nice advantage Nuri offers that many other standard banking institutions don’t.
It works much like other bank accounts that can hold multiple currencies at the same time. When you sell Bitcoin, the respective amount in Euros is added to your account by the bank automatically. Euros can also be used to purchase Bitcoin. Both types of transactions are usually completed in a few minutes or less.
Nuri offers German debit cards from MasterCard due to the company’s partnership with Solarisbank. Contactless payment and other current features are available with this card. These MasterCards can also be used to withdraw funds at ATMs anywhere you go across the globe. There are no withdrawal fees associated with these transactions.
Bank account and Visa cards are features that are coming soon.
I think there are not many people who didn’t hear about PayPal. It completely changed financial technology and how individuals bank online.
PayPal is currently used by millions of clients and more than 150 markets in multiple countries. It integrates with many of the popular payment processing systems that are used every day.
There aren’t too many people who don’t use PayPal’s payment processing services regularly.
Their connections with various accounting and CRM platforms have allowed many tasks to become completely automated. One of their many services is a Paypal MasterCard similar to what other Revolut alternatives mentioned offer.
PayPal’s digital transaction management has helped the company earn and retain many loyal customers. PayPal is great, but it might not be what every business needs.
Customers can make online transactions without using a bank account. They can also link their PayPal account with a credit or debit card if the funds in their PayPal account have been depleted.
One common problem area is PayPal’s risk department. PayPal security measures can cause your account access to be restricted, and your account can be frozen at any time.
The vast majority of your customer service time will probably be spent in one of their community forums or at their knowledge base. PayPal has plenty of documentation because they want you to be able to resolve most issues by yourself.
PayPal is much more than an online payment platform provider. They also have third-party payment processing and other resources that could benefit online sellers and many regular users.
When most people think of PayPal, online payments are probably the first service that comes to mind. Credit and bank transfers can be accepted using the PayPal Checkout (previously known as the Express Checkout), Payments Pro and Payments Standard.
PayPal has continued to add more services over the years. More partnerships with established credit card companies, methods to stop scammers from attempting to acquire customer information, and their own payment applications are some of the recent additions.
Skrill has been in existence for over two decades. Its main function is a digital payment platform. They also provide clients to sell and buy cryptocurrencies and receive and send funds. Merchant accounts can be assigned to organizations, and Skrill also has a prepaid debit card issued to users.
Same day transfers to your bank account can be accomplished with the Skrill money transfer platform. It makes sending money to people in other countries fast and easy. Up to 40 international currencies are currently supported. Customers can open mobile wallet accounts in any nation that actively accepts money transfers.
Skrill charges no fixed fees or other related transaction costs for sending money to people in different countries. This can make Skrill especially appealing for people concerned about transaction costs commonly associated with smaller fund transfers. This is the case if you choose to pay for your money transfer using a debit card, bank transfer, or Paysafecash.
But for credit card payments, Skrill will add a commission fee of up to 3.99% for each credit card payment. Your credit card company may also add foreign transaction fees on top of that fee.
An exchange rate margin that Skrill refers to as an “international transfer exchange mark-up” is charged on all transfers. It’s a minor markup that’s slightly above the exchange rate for every currency unit changed into another currency.
Skrill’s fee can be up to a maximum of 4.99% of the transfer’s total value. Skrill’s exchange rate margins are a bit more expensive for debit card transfers than for transfers made by credit cards.
As a Revolut competitor, Skrill is a little more expensive and doesn’t provide all the features Revolut has, but it is good for gambling if that is your primary need.
Revolut Competitors Conclusion
There are many feasible Revolut alternatives, some of which are listed above. This isn’t a complete list. Every option has its own pros and cons. This article has compiled information on some of the most popular services that can replace the Revolut account.
Mentioned options have a solid reputation in the digital banking industry, and each one has features that are well suited for different target audiences.
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