Wise Business vs Revolut Business: Which is better for your business?
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Choosing the right business account can significantly impact how you manage your finances. Here’s a detailed comparison between Wise Business and Revolut Business, focusing on their features, pricing, business card options, and more, to help you decide which one suits your needs best.
| Wise Business | Revolut Business | |
|---|---|---|
| Business cards | Physical and virtual cards available | Physical and virtual cards available; additional features like custom spend controls |
Wise Business vs Revolut Business: Key Features
| Wise Business | Revolut Business | |
|---|---|---|
| Supported currencies | Hold and exchange 40+ currencies; local account details in 9 currencies | Hold and exchange 25+ currencies; local account details in 3 currencies (GBP, USD, EUR) |
| International payments | Hold and exchange 25+ currencies; local account details in 3 currencies (GBP, USD, EUR) | Free within plan limits; interbank exchange rate during market hours; fees may apply outside allowances |
| Accounting software integration | Integrates with QuickBooks, Xero; API access included | Integrates with QuickBooks, Xero; API access available on paid plans |
| Business debit cards | Physical and virtual cards; multi-currency spending with no foreign transaction fees | Physical and virtual cards; custom spend controls; higher spending limits |
| App | Unified app for personal and business accounts | Separate app with additional features like cryptocurrency trading and stock trading |
Both options offer robust features. Wise stands out with its extensive currency support and transparent fee structure, while Revolut excels in providing additional financial services and advanced spend controls. The best choice depends on your business’s specific needs.
Wise Business Business vs Revolut Business Business: Pricing
| Wise Business | Revolut Business | |
|---|---|---|
| Account opening fee | None | None |
| Monthly subscription | None | Free plan; paid plans from £19/month |
| Currency exchange fees | From 0.33% per transaction | Free within plan limits; 0.6% fee outside allowances |
| Money transfer fees | From 0.33% per transaction | Free within plan limits; £0.2 for local transfers, £5 for international transfers outside allowances |
| FX fees | Uses mid-market rate; no additional fees | Interbank rate during market hours; 0.5% – 2% markup outside market hours |
Wise offers a competitive fee structure with no monthly subscription, charging transaction-based fees starting from 0.33%. Revolut provides both free and paid plans, with varying allowances and fees. Consider your transaction volume and specific service needs to determine which pricing structure is more cost-effective.
Wise Business Business vs Revolut Business Business: Business Cards
| Wise Business | Revolut Business | |
|---|---|---|
| Physical card | Yes | Yes |
| Virtual card | Yes | Yes |
| Custom card | No | Yes |
| ATM withdrawal | 2 free withdrawals per month; fees apply thereafter | Free up to certain limits; 2% fee after the limit |
Both Wise and Revolut offer business card functionalities, including physical and virtual cards. However, Revolut stands out with features like custom spend controls and higher spending limits, while Wise provides straightforward multi-currency spending with no foreign transaction fees.
See how Instarem compares
| Instarem | |
|---|---|
| Features | Hold and exchange multiple currencies, send real-time payments, secure transactions, process up to 1,000 payments, and fund transactions seamlessly with Visa or Mastercard® credit cards. |
| Pricing | No monthly fees and no fees for cross currency payments |
| Business cards | Virtual prepaid Mastercard® with FX savings and customised spending controls |
Getting started with Instarem is easy
- Click here to get a free Instarem business account
- Enter your company details
- Once approved, add beneficiary details, saved for future transfers
- Select a payment method and we’ll show you rates and fees upfront
Register with Instarem business today
Take control of your business finances with Instarem. Enjoy competitive exchange rates, streamlined payments, and fast & secure transactions.
