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Wise vs Revolut: fees, ATM limits and which to pick

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Both apps show up in every nomad packing list, and the lazy answer is "get both." Often that is right. But it skips the question that actually matters: what is each one best at? Wise is a money-movement specialist built around the real exchange rate. Revolut is a licensed bank with an app-first front end that wraps spending, investing and travel perks into paid tiers, and it sets its own exchange rate rather than passing on the market one. Once you see how differently they're shaped, picking the right tool (or the right combination) gets easy.

Side by side

Wise Revolut
What it really is A money-movement specialist: multi-currency account, local bank details, debit card. No tiers needed to get the core deal. A licensed bank with an app-first front end: multi-currency account, card tiers, plus stocks, crypto, savings and budgeting. Revolut Bank UAB serves the EEA; Revolut Bank UK Ltd has been a fully licensed UK bank since March 2026.
Exchange rate The mid-market (interbank) rate on every conversion, with a separate, visible percentage fee. Wise's words: "We only use the mid-market rate." Not the mid-market rate. Revolut's terms say "We use our own Revolut exchange rate... This rate is set by us." It is built from third-party data feeds and the size of your transaction.
Conversion fee One visible percentage on top of the mid-market rate, quoted from 0.23% and shown before you confirm. The exact figure moves with the currency pair and the amount. No weekend penalty. No exchange fee on weekdays inside your plan's monthly exchange limit (1,000 on Standard, 3,000 on Plus, no limit on Premium, Metal and Ultra). Above the limit a fair-usage fee applies: 1% on Standard, 0.5% on Plus. Weekend exchanges add 1% on Standard.
How your money is protected Not a bank. Your balance is safeguarded e-money, held apart from Wise's own funds in bank accounts, liquid assets and a comparable guarantee. Wise states plainly that it is "not subject to the Financial Services Compensation Scheme (FSCS)", and no deposit guarantee covers it. Bank-grade in most of Europe: deposits with Revolut Bank UAB are insured by Lithuania's scheme up to EUR 100,000 per depositor, aggregated across your accounts. UK accounts are moving to Revolut Bank UK Ltd (FSCS cover) in stages, so some UK balances are still safeguarded e-money for now. Crypto, stocks and commodities sit outside either scheme.
Local account details Real local details in roughly 9 to 10 currencies (USD, EUR, GBP, AUD, CAD, NZD, SGD and more) to get paid like a local. IBAN/account details available, but the breadth of true local details is narrower than Wise.
Currencies held 40+ currencies held in one balance. 25 currencies you can open, hold and exchange, depending on region.
ATM withdrawals A free allowance measured as an amount per month (250 EUR or 250 GBP in Europe and the UK, 250 USD in the US, 400 AUD in Australia, lower elsewhere), then a percentage above it: 2.69% in most of Europe, and in a few places a fixed fee too, such as 1.95 USD plus 1.95% in the US. On Standard, free up to 5 withdrawals or 200 EUR/GBP per rolling month, whichever comes first, then 2% of the withdrawal with a 1 EUR/GBP minimum. Premium lifts it to 400 with no count cap. Note the rolling month and the withdrawal count: both can end the free band early.
Plans / cost No monthly subscription; you pay per transaction. One-time small card-issue fee. Free Standard tier plus Plus, Premium, Metal and Ultra, which raise or remove the allowances. Prices vary by country: in the UK, 3.99, 7.99, 14.99 and 55 GBP a month.
Extras Focused: send/receive, hold, spend. Some markets add a debit-linked investing option. Broad: stock/crypto trading, savings vaults, budgeting, travel perks and insurance on higher tiers.
Best-known strength Transparent, low-margin currency conversion and getting paid internationally. One app that bundles spending, investing and travel features.

Both providers change pricing often, and the exact fees, free allowances, currency lists and even which legal entity holds your money hinge on your home country and plan. Treat the numbers above as estimates, and check the current figures on Wise's and Revolut's own fee pages before you choose.

Which to pick, and when

Note Pick Wise if you mainly need to get paid in several currencies, convert larger or irregular amounts, or want a predictable mid-market rate with no weekend surprises. It is the better money plumbing.

Note Pick Revolut if you want one app for everyday spending, budgeting, travel perks and a bit of investing, and your conversions are small, frequent and on weekdays, where its free allowance shines.

Eligible Run both for the most resilient setup. Wise for receiving and converting, Revolut for daily spend, and each one as the other's backup card when an income or a checkout hangs on it.

Depends Watch the edges. Revolut's "free" conversion means no separate fee, not the mid-market rate, and on Standard and Plus it comes with a monthly exchange limit and a weekend fee. Either account can be frozen for review, so never park your whole runway in one app.

Depends Know what backs your balance. Revolut is a licensed bank in the EEA and, since March 2026, in the UK, so eligible deposits sit under a real guarantee scheme. Wise is an e-money institution: your money is safeguarded, not deposit-guaranteed. For a large balance that distinction is the whole story.

The one distinction that decides it

Strip away the marketing and it comes down to this. Wise is built for moving and holding money across borders at the lowest honest margin. Revolut is built to be the single app you spend and manage your financial life from. Wise shows you the mid-market rate and a separate fee every time, so nothing about the cost is hidden. Revolut sets its own exchange rate (its terms say exactly that) and tucks most of its cost behind plan allowances and a weekday/weekend split, generous when you stay inside the lines, pricier when you stray outside them.

There is a second difference that costs nothing until the day it matters. Revolut is a licensed bank: in the EEA your money sits with Revolut Bank UAB and is insured up to EUR 100,000 per depositor, and in the UK Revolut Bank UK Ltd has held a full licence since March 2026, with accounts migrating across in batches. Wise is not a bank and does not claim to be. It safeguards your balance separately from its own funds, which is a genuine protection, but says plainly that it is not covered by the FSCS. If you keep a working float in Wise and your savings elsewhere, that is fine. If you were about to leave three months of income in one of them, it changes the answer.

For a nomad, the practical read is usually this: invoice and receive through Wise, then spend day-to-day on whichever card hands you the best perks and ATM allowance where you happen to be. Neither one wins in the abstract. The winner is whichever matches how your money actually flows.

ATM withdrawals abroad, in real numbers

Cash machines are where the quiet fees hide, so here is the shape of it on Wise (figures effective 1 May 2026). You get a free monthly allowance, then a percentage on anything above it: 250 EUR or 250 GBP free per month across Europe and the UK, then 2.69% on the excess; in the US it is 250 USD free, then a 1.95 USD fixed fee plus 1.95%; in Australia it is 400 AUD free, then 2.69%. Your allowance follows the country where your card was issued, not where you happen to stand at the machine.

Revolut counts it in a way that catches people out. On the Standard plan you get 5 withdrawals or 200 EUR/GBP per rolling month, whichever comes first, and once either one is used up the fee is 2% of the withdrawal with a 1 EUR/GBP minimum. Premium lifts the allowance to 400 with no cap on the number of withdrawals. Two details matter here: the count can end your free band long before the amount does, and the month is a rolling one, not a calendar one, so it does not reset on the 1st. If your month runs on physical cash, pull out larger amounts less often so more of each trip stays inside the free band, and size your plan to the allowance rather than to the headline. These figures shift, so confirm the current numbers on each provider's own fee page before you rely on them.

Decide it with your own numbers

Skip the generic ranking and match an account to your real income currencies, spending pattern and home country:

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Frequently asked questions

Is Wise or Revolut cheaper for currency conversion? +

It depends on how and when you convert, and the two price it in genuinely different ways. Wise uses the mid-market rate and charges one visible percentage on top, quoted from 0.23%, with no weekend penalty, so you can predict the cost whatever the day and however big the amount. Revolut does not use the mid-market rate: its terms say it sets its own Revolut exchange rate, so a "no fee" weekday exchange still carries whatever margin is baked into that rate. Inside your plan's monthly exchange limit, on a weekday, Revolut charges no separate fee, which is genuinely cheap for small everyday amounts. Convert large or irregular sums, or move money on a Saturday, and Wise is usually the steadier deal because you can see exactly what you are paying.

Can I get paid in multiple currencies with both? +

Both let you hold and receive several currencies, but Wise goes further on genuine local bank details. With Wise you get real local account numbers in roughly nine to ten currencies: a US routing and account number, a UK sort code and account number, a euro IBAN, and more, so clients and employers pay you as if you were local and skip the international-transfer friction. Revolut gives you account details too, but it covers fewer true local options. That gap matters most if you freelance and invoice clients across several countries.

Do I have to pick just one? +

No, and plenty of nomads run both on purpose. The usual pattern: Wise handles the money plumbing (getting paid in several currencies, holding balances, converting at the mid-market rate) while Revolut is the day-to-day spending app for its budgeting, travel perks and investing features. They complement each other rather than compete. And when your income rides on being able to pay for things abroad, carrying a backup card from the other provider just makes sense.

How much does Revolut charge for currency exchange above the free allowance? +

On the free Standard plan the monthly exchange limit is 1,000 in your home currency, and past it Revolut charges a fair-usage fee of 1%. On Plus the limit is 3,000 and the fair-usage fee is 0.5%. Premium, Metal and Ultra have no exchange limit and no fair-usage fee at all. Weekends are priced separately: a 1% fee applies to weekend exchanges on Standard, less on Plus, and nothing on the top three tiers since April 2025. One thing the marketing skips: none of this is the mid-market rate. Revolut applies its own rate on top, so "no fee" is not the same as "no margin". The limits are cumulative across currency, crypto and commodity exchanges and reset once per rolling month, not on the first of the month. Check Revolut's fee page for your own country, because the amounts are set per market.

What are Wise's ATM withdrawal limits and fees? +

Wise gives you a free monthly ATM allowance measured as an amount, then charges above it (figures effective 1 May 2026). In Europe and the UK that is 250 EUR or 250 GBP free per month, then 2.69% on the excess. In the US it is 250 USD free, then a 1.95 USD fixed fee plus 1.95%. In Australia it is 400 AUD free, then 2.69%. Revolut meters it differently, and the difference bites: on the Standard plan you get 5 withdrawals or 200 EUR/GBP per rolling month, whichever comes first, then 2% of each withdrawal with a 1 EUR/GBP minimum. Five small cash runs can end your free band before you have touched 200. The exact allowance and fee depend on where your card was issued, so check each provider's fee page for the country you are heading to.

Is my money safer with Wise or Revolut? +

This is the one place where the two are not comparable, and it is worth knowing before you park a month of runway anywhere. Revolut is a licensed bank in most of Europe: money held with Revolut Bank UAB is insured by Lithuania's deposit scheme up to EUR 100,000 per depositor, aggregated across your accounts. In the UK, Revolut Bank UK Ltd has held a full licence since March 2026, with FSCS cover, though existing accounts are being moved across in stages, so some UK balances are still e-money for now. Wise is not a bank at all. It is an electronic money institution, and it says so directly: your balance is safeguarded, held separately from Wise's own funds, but it is "not subject to the Financial Services Compensation Scheme". Safeguarding is a real protection and Wise does not lend your money out, but it is not a deposit guarantee, and the two should not be read as the same thing. Neither provider's crypto, stocks or commodities sit inside any of these schemes.

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Sources

Voymo gives general information to help you organise your move. It is not legal, tax, or immigration advice, always confirm with an official source or a qualified professional before you act.