Revolut UK vs SoFi

Revolut UK

Who it suits

• Savers who want instant app access and no charge for holding the balance, rather than a card and credit deal such as AXI Card Tarjeta y Credito at 21.59%.
• Travelers, freelancers and teens, the audience named in travelers, freelancer and teen, who want 30 currencies and a conversion fee that runs 0% to 1%.
• Anyone starting out with a wallet, since PayPal Colombia is the listed alternative at 3.3% and this balance pays 4% with iban details.

Who should look elsewhere

• Savers shopping on the headline rate alone: the listed alternative Plazo ES shows 24.19% and AXI Card Tarjeta y Credito shows 21.59%, both far above the 4% paid here.
• People who need the return fixed for a set period, since the rate type is variable and the balance is easy-access by design.
• Customers who want the deposits held by the brand itself: the account licence type is e money and the savings sit with a savings deposit partner, a different structure from the listed wallet alternative PayPal Colombia at 3.3%.

SoFi

Who it suits

• US residents who want savings and checking in a single place
• People who are happy to bank entirely online
• Savers who want a bank licence and insured deposits rather than a partner account

Who should look elsewhere

• XTB, if you hold UK pounds and want cover under FSCS up to GBP 85,000 rather than FDIC up to USD 250,000
• Plazo ES, whose fixed rate locks money away, when you would rather hold an easy access balance
• AXI Card Tarjeta y Credito, whose fixed rate suits readers who prefer a return locked for a set period