Revolut UK vs Wise

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%.

Wise

Who it suits

• Expatriates and travellers who hold money in more than one currency: the account is built for expats and travelers and covers 40 currencies.
• Anyone who wants a place to park cash without a recurring charge, since the monthly fee is £0.
• People who need money to arrive in local formats, since local account details are offered for iban, uk sort code and us ach.

Who should look elsewhere

• Plazo ES or AXI Card Tarjeta y Credito, whose headline rates of 24.19% and 21.59% are the ones to look at when the rate on the balance matters more than currency cover.
• PayPal Colombia, whose headline rate of 3.3% is close to 3.29%, so a saver gives up little on yield and gains nothing on the 40 currency range.