Wise Business vs Revolut Business
Both built their reputation on international money movement. The difference is Wise's pricing transparency versus Revolut's broader feature set.
Updated 2026-07-03 • Last reviewed 2026-07-12
Wise
Top pickTransparent, close-to-mid-market exchange rates.
- Type
- Payment institution
- Free company formation
- Yes
- Monthly fee
- No monthly fee model
- FX / multi-currency
- Strong, transparent
- Clearly shown FX fee, no hidden markup
- Excellent for high-volume currency conversion
- Free company formation for eligible customers
- Not a UK bank account replacement — no FSCS protection.
- No credit facilities (overdrafts or loans).
- Weaker fit for cash-handling businesses.
Best for businesses converting significant sums between currencies regularly, Wise's pricing transparency tends to make it easier to predict your actual cost at volume.
Revolut Business
Currency features plus broader spend management.
- Type
- E-money
- Free company formation
- Yes
- Monthly fee
- Free tier with FX limits
- FX / multi-currency
- Strong
- Competitive FX alongside team spend controls
- Broader feature set beyond currency
- Free company formation
- E-money institution in the UK (not a bank).
- Account freezes and verification delays are common complaints.
- Customer support is chat-only.
Best for businesses that want currency features plus broader team tools in one app, Revolut can still work out cheaper depending on your specific volume and plan tier, check both for your real numbers.
The honest verdict
High volume, frequent currency conversion, want maximum transparency: Wise. Want currency features plus broader team spend controls in one app: Revolut. Both beat a traditional bank's FX rates by a wide margin either way.
FAQs
Which is cheaper for currency conversion?
It depends on your volume and plan tier, Wise is generally more transparent, Revolut can be competitive depending on usage. Check both providers' current rates against your real numbers.
Do both offer free UK company formation?
Yes, both cover the Companies House fee for eligible customers opening an account.
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