Revolut and Wise are two of the most popular fintech services among expats in the Netherlands. Both offer multi-currency accounts and international transfers, but they serve different primary purposes. Revolut is more of a day-to-day banking alternative, while Wise (formerly TransferWise) specialises in international money transfers. Here is how they compare.
Quick Overview
- Revolut: Full banking alternative with spending card, crypto, trading, budgeting, and transfers. Free plan available. Lithuanian IBAN.
- Wise: Multi-currency account focused on international transfers and currency conversion. Low, transparent fees. Belgian IBAN.
Exchange Rates and Fees
Wise
Wise always uses the real mid-market exchange rate—the one you see on Google or XE.com. Their fee is separate and transparent, typically 0.3-0.7% depending on the currency pair. You always see the exact fee before confirming a transfer.
Revolut
Revolut also offers the mid-market exchange rate, but with important caveats. On the free plan, you get fee-free exchange up to EUR 1,000/month (then a 0.5% fee applies). On weekends and public holidays, a markup of 0.5-1% is added to all exchanges because forex markets are closed.
Verdict: Wise wins on transparency. Revolut can be cheaper for small amounts within the monthly limit but becomes more expensive on weekends or when you exceed the free tier.
International Transfers
Wise
This is where Wise truly excels. They support transfers to 80+ countries, with excellent speed (often same-day delivery) and the lowest overall cost for most currency pairs. You can fund transfers via iDEAL (if you have a Dutch bank account), making the process seamless.
Revolut
Revolut supports international transfers to 30+ countries. The process is simple—just send money from within the app. However, for larger amounts or certain currencies, Revolut uses SWIFT (which can be slower and incur correspondent bank fees) rather than local payment networks.
Verdict: Wise wins for international transfers—better coverage, more transparent pricing, and faster delivery.
As a Daily Banking Account
Revolut
Revolut functions as a comprehensive banking alternative. You get a card (virtual and physical), budgeting tools, savings vaults, cryptocurrency trading, stock trading, and insurance products. For daily spending in the Netherlands and when travelling, Revolut's card offers excellent exchange rates.
However, Revolut provides a Lithuanian IBAN, which means no iDEAL and no Tikkie. This is a significant limitation for daily life in the Netherlands.
Wise
Wise offers a debit card and multi-currency account, but it is more limited as a daily banking tool. There are no budgeting features, no savings vaults, and no investment options. The card works well for spending abroad, but Wise is not designed to be your primary bank.
Wise provides a Belgian IBAN, which also does not support iDEAL.
Verdict: Revolut wins as a daily banking tool (but neither replaces a Dutch bank account for full iDEAL access).
Supported Currencies
Both services support a wide range of currencies:
- Wise: 40+ currencies with local account details in 10 currencies (USD, GBP, EUR, AUD, NZD, SGD, CAD, HUF, RON, TRY)
- Revolut: 30+ currencies for exchange, with accounts in multiple currencies
Fees Comparison
- Wise card: One-time fee of approximately EUR 7 for the physical card. No monthly fee. ATM withdrawals free up to EUR 200/month, then 1.75%
- Revolut Standard: Free plan. Physical card costs approximately EUR 6. ATM withdrawals free up to EUR 200/month, then 2%
- Revolut Premium: EUR 7.99/month with higher limits and insurance
- Revolut Metal: EUR 13.99/month with crypto cashback and premium features
Which Should You Choose?
Choose Wise if: Your primary need is sending money internationally (to family, paying a foreign mortgage, or moving savings between countries). Wise's transparent pricing and excellent exchange rates make it the best tool for transfers.
Choose Revolut if: You want a versatile financial app for spending, budgeting, and occasional transfers. Revolut works well as a secondary account for travel and multi-currency spending.
The expat recommendation: Many expats in the Netherlands use both—Wise for international transfers and Revolut for a spending card with great exchange rates. But remember: neither replaces a Dutch bank account with iDEAL support. For your primary Dutch banking needs, see our bunq vs ING comparison.