Wise vs Revolut Business: Best Multi-Currency Account in 2026
Two products, two philosophies. Wise gives you the real mid-market exchange rate on every conversion with one visible fee and no monthly charge, ever. Revolut Business gives you a monthly subscription with free FX up to a plan allowance, plus expense management, team controls, and (in the UK) a real banking licence. Which one wins depends entirely on how your business moves money.
| Wise Business | Revolut Business | |
|---|---|---|
| Best for | Freelancers, simple FX, transparent pricing | Teams, expenses, all-in-one banking |
| Monthly fee | $0 (one-time $31 US setup to unlock account details) | From $10/mo (no free tier) |
| FX pricing | Mid-market rate + visible fee from ~0.24%, shown before you send | Free within plan allowance at interbank rate; 0.6% above it, +1% out of hours |
| FX allowance | None needed (pay per transfer) | $1,000 / $20,000 / $80,000 by plan (US) |
| Currencies held | 40+ | 25+ |
| Local account details | Receive in 22+ currencies; local details in 8+ incl. USD, GBP, EUR | GBP on all plans; USD local details on Grow and up |
| Expense management | Team cards with spend visibility (lighter tooling) | Approval flows, receipt matching, spend rules, invoicing |
| Batch payments | Up to 1,000 recipients | Up to 1,000 (Grow and up) |
| Extras | 0.5% business debit card cashback (terms apply) | Savings interest, crypto, FSCS protection (UK bank licence) |
Prices are standard list rates (US figures shown; UK plans differ). Data as of October 2026.
Wise: the transparent default
Wise's pitch hasn't changed because it doesn't need to: the real mid-market rate on every conversion, one fee shown before you send, no monthly fee, no weekend markup games. The free Essential plan covers send, hold, and convert; a one-time $31 setup in the US (or £50 in the UK) unlocks local account details so you can receive in 22+ currencies like a local. Batch payments run to 1,000 recipients, the API is free, and integrations with Xero and QuickBooks are solid.
The catch: since the November 2025 UK pricing change, free Wise accounts can no longer receive money, which narrowed the gap for businesses that get paid in foreign currency. Expense tooling is lighter than Revolut's: team cards with real-time visibility, but no real approval flows. And Wise is an e-money institution, not a bank, so funds are safeguarded rather than FSCS-protected.
Pick Wise if: your FX is simple and you want the lowest, most transparent per-transfer cost. Freelancers and sole traders are welcome, which isn't true everywhere.
Revolut Business: the team platform
Revolut Business is what you buy when money movement is only half the job. Plans run $10, $40, and $140 a month in the US (custom Enterprise above that), each with a free FX allowance at the interbank rate: $1,000, $20,000, and $80,000 respectively. Inside the allowance, FX is genuinely free. Above it you pay 0.6%, plus 1% for out-of-hours exchanges. The real value is everything around the money: expense management with approval flows and receipt matching, spend rules per team member, invoicing, bill pay with two-way accounting sync, and an API from Grow up. Since March 2026, Revolut Bank UK is a fully licensed UK bank, so eligible deposits are FSCS-protected up to £120,000.
The catch: there is no free tier, so light users pay a subscription for the privilege. The Basic plan's $1,000 monthly FX allowance burns fast. Out-of-hours and over-allowance fees add up for heavy FX users, who usually pay less per transfer with Wise. And in the UK, Revolut Business is built for incorporated companies; freelancers get pointed to Revolut Pro instead.
Pick Revolut if: you run a team and want spending, expenses, approvals, and multi-currency banking in one subscription, with a real bank licence behind it.
Frequently asked questions
Is Revolut Business free?
No. There is no free tier; plans start at $10 a month in the US (£10 in the UK). Wise, by contrast, has no monthly fee on any plan.
Is Wise cheaper than Revolut for currency exchange?
Inside Revolut's free FX allowance, Revolut wins because the exchange is free. Above the allowance, Wise's mid-market rate plus a small visible fee is usually cheaper than Revolut's 0.6% markup (plus 1% out of hours).
Can freelancers use Revolut Business?
In the UK, Revolut Business is designed for incorporated companies; freelancers and sole traders are directed to Revolut Pro. Wise accepts sole traders and freelancers on its Business plans.
Is my money protected with either?
Differently. Wise is an authorised e-money institution: client funds are safeguarded in segregated accounts but not FSCS-protected. Since March 2026, Revolut Bank UK Ltd is a fully licensed UK bank, so eligible deposits are FSCS-protected up to £120,000.
Sources
- Wise Business UK pricing (Essential / Advanced tiers, Nov 2025 structure): https://wise.com/gb/blog/best-business-bank-account-for-startups
- Wise vs Revolut for business (US pricing, $31 setup): https://wise.com/us/blog/wise-vs-revolut-for-business
- Wise business debit card cashback terms: https://wise.com/gb/blog/revolut-business-invoices
- Revolut Business account review (plans, FX allowances): https://www.revolut.com/blog/post/revolut-business-account-review/
- Revolut Business UK review (Basic £10 / Grow £35 / Scale £125): https://www.businessexpert.co.uk/business-banking/revolut-business-account-review/
- Revolut Business fee research (Sept 2026, out-of-hours 1%, over-allowance 0.6%): https://statrys.com/reviews/revolut-business-account
- Revolut Bank UK licence and FSCS protection (March 2026): https://fintechobserve.com/revolut-business-uk-review/
- Wise transfer speed claims (Q2 2026 mission update): https://newsroom.wise.com/en-NAM/270647-wise-launches-chequing-account-as-canadians-live-increasingly-global-lives/