Revolut vs Wise card - Which is a better travel card in Australia?

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If you’re planning your next trip and looking for the best travel card to manage your overseas finances with low fees and minimal hassle, you might be trying to decide between Revolut¹ vs Wise.

This guide will break down everything you need to know about these two popular cards, with a focus on how they stack up for travel spending in Australia.

What is Revolut?

Revolut launched in 2015, and offers Australian customers a choice between 4 different account types for personal use². There are also options for business customers.

All Revolut accounts hold 30+ currencies, and come with linked physical and virtual cards for local and international spending and cash withdrawals. The exact account features you can get will depend on the plan you pick.

Revolut has several different types of debit cards, including virtual and virtual single use cards, and a selection of different physical cards. All of the cards are safe to use, and can be easily frozen in the Revolut app if you’re ever concerned about security.

What is Wise?

Wise was launched in London in 2011, and now offers personal and business account and card services to customers in many countries globally, with more than 30 billion dollars moving every quarter.

You can use the Wise multi-currency account to hold 40+ currencies, and get your Wise card for simple global spending either with your physical card or through your preferred wallet like Apple Pay. Wise uses the mid-market exchange rate for currency exchange and has no monthly fees or minimum balance.

The Wise card has a one time order fee of 10 AUD, but then there are no ongoing charges. For security you can generate digital cards when you need them, which can be canceled after use. Cards can also be frozen in the Wise app, and you can set up push notifications on your phone to alert you to transactions in real time .

Revolut vs Wise - Main features

Let’s kick off with a Revolut vs Wise comparison of key features. We’ll look in more detail at some of the costs associated with each provider, including card costs and currency exchange costs, right after.

Revolut vs Wise - Fees and charges

Let’s move on in our Wise vs Revolut review with a look at the costs which are associated with each. It’s helpful to note that the way each provider structures their fees is different, so comparing the options based on the type of transaction you’ll make, and how often you’ll use your account, is important. Here’s an overview of Revolut vs Wise for fees and charges:

Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information.

Revolut vs Wise - Exchange rates

For overseas use, knowing the exchange rate which applies is important. The Wise vs Revolut exchange rate can be somewhat different, depending on how you use your account, and which Revolut plan you select.

Revolut uses its own variable exchange rate, which is set based on data from multiple independent sources. All account plans have some currency exchange on weekdays which uses the Revolut rate with no additional fee added.

If you exceed the plan limit, 0.5% fair usage fees apply. Out of hours fees of 1% apply on weekends for Standard plans, and 0.5% for Plus plans,, which means you may pay as much as 1.5% fees on currency exchange when you convert with Revolut depending on which plan you have.

Wise works a little differently. Wise uses the mid-market exchange rate for all currency exchanges, and charges a variable fee for conversion, which starts from 0.63%. This applies when you convert a currency in your account or to spend with your card. If you already have the currency you need in your account, there’s no additional fee for card spending.

You’ll need to compare the overall currency exchange costs with Wise and Revolut based on how you expect to use your account. Higher exchange fees mean your international spending costs you more, so choosing the provider which is cheapest for the types of transactions you’ll make often will help you lower your costs.

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Online reviews for Revolut and Wise in Australia

Trustpilot is a great place to look for Wise vs Revolut reviews, with aggregated live feedback from current customers. This allows you to see what other people think of both providers, so you can choose if either is right for you.

It’s reassuring to know that both Wise vs Revolut are very highly rated, with large numbers of reviews and some great feedback:

• Wise has an Excellent 4.3 out of 5 stars rating, from +230,000 reviews³
• Revolut has an Excellent 4.6 out of 5 stars rating, from 340,000+ reviews⁴

This information is dynamic and does change regularly. If you have questions or want some rich feedback about customer experience, Trustpilot is a strong choice to learn more.

Verdict - Choosing between Revolut & Wise

Both Wise vs Revolut offer powerful international account services and cards which can be used for secure and low cost spending and withdrawals more or less anywhere.

Ultimately, it all comes down to your personal preferences and how you spend. Wise may win for simple spending with the broadest range of currencies supported in the account. Or you might prefer Revolut if you’re prepared to pay a monthly fee to unlock premium level features and benefits including a metal card.

Wise may be best if

• you value a straightfoward, fuss-free account with no monthly fees with access to standard features
• you regularly make currency conversions and want to take advantage of the reliable mid-market exchange rate with low fees

Revolut may be better if

• you're after premium features like higher withdrawal limits, exclusive card options
• you don’t mind paying a monthly maintenance fee for the extra features

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