Opening a digital bank account is an excellent choice for expats. It’s more convenient than visiting a traditional bank and provides everything you need while settling into a new country. But what is better, Wise or Revolut, for expats in Ireland? Uncovering all the pros and cons in our article.
An overview
Plans
Overseas transfers
Fees
Reviews
Profee—beneficial alternative for international remittances
Wise VS Revolut: An overview
Wise is a fintech company founded in 2011. Since then, it has become one of the most recognisable digital banks in the world, providing cards, business accounts, and the opportunity to transfer money abroad.
Revolut is a neobank that started operating in 2015. It became a strong competitor of Wise, offering bank accounts for private and business usage, cryptocurrency exchange, overseas transfers, and more. Revolut cards in Ireland are a popular option among the migrants.
Expats often wonder what is better, Wise or Revolut, so let’s compare these two tech giants.
Living in Ireland? Learn how to find a job there in our article.
Wise VS Revolut: Plans
If you plan to use Wise for money transfers, you should open a Wise account to pay less fees. Once registered, you have only two options: personal or business accounts. Personal is perfect for individuals who need Wise for daily expenditures like groceries, going out and remittances back home. Therefore, we recommend opening a personal one if you’re an expat in Ireland. Some of the terms are:
Withdrawing 200 EUR fee-free per month. Currency conversion fees start from 0.61% Requesting a physical card costs 7 EUR.
Revolut plans in Ireland are more diverse.
Revolut plans in Ireland
| Standard | Plus | Premium | Metal | Ultra | |
|---|---|---|---|---|---|
| Price per month, EUR | Free | 3.99 | 8.99 | 15.99 | 45 |
| Transfer fee discounts | - | - | 20% | 40% | No fees |
| Fee-free ATM withdrawals per month, EUR | 200 | 200 | 400 | 800 | 2000 |
| No-fee currency exchange per month, EUR | 1000 | 2000 | No limit | No limit | No limit |
| Instant access savings, AER (variable) | 1.7% | 1.7% | 1.85% | 2% | 2.5% |
Based on your needs, choose a Wise or Revolut card accordingly. Revolut cards in Ireland provide more flexibility, while Wise is known for its trustability.
Wise VS Revolut: Overseas transfers
Finding a good service for sending money back home is a must to save money and make life in Ireland easier.
Wise money transfers can be sent to over 160 countries. The service provides several payment methods, including Wise accounts, bank transfers, debit/credit cards, and iDEAL. Before starting the transfer, you can check the final amount to be received in a calculator widget on their official website.
Revolut also sends to over 160 countries in 70 currencies. You can use bank, card, Revolut or wallet transfers. Plus, they also have a calculator widget, so you can compare two services before downloading their apps and registering, which is quite convenient.
Before deciding what to open a Wise or Revolut card, we should check their fees for international transfers.
Wise VS Revolut: Fees
Fees often ruin expats' financial plans. They may be huge and even hidden, causing unexpected and frustrating losses. Let’s imagine that we want to send 100 EUR from Ireland to India, Wise money transfer fees will be as follows:
| Transfer method | Fees, EUR |
|---|---|
| Bank transfer | 1.71 |
| Debit card | 2.57 |
| Credit card | 3.11 |
| Simple bank transfer | 1.71 |
| iDEAL | 2.16 |
| Wise account | 1.20 |
Fees may change after the article is published.
Revolut fees in Ireland for the same transfer of 100 EUR to India will be 0.90 EUR for a bank transfer and 2.30 EUR for a card transfer.
Therefore, Revolut fees in Ireland are more attractive, as you'll spend less money on them. However, Wise offers more flexible payment options. So, the answer to what is better, Wise or Revolut, hinges on your preferences and needs.
Both, Wise and Revolut fees in Ireland are not fixed; therefore, they will change depending on your transfer destination and the day you complete the transfer. Keep in mind that additional fees may be applied by third parties, such as your bank or the recipient's bank.
Wise VS Revolut: Reviews
Hearing fellow expats' stories will help us build a complete picture and answer the question,“What is better, Wise or Revolut?”. We checked Trustpilot to find some Revolut and Wise money transfer reviews.
Wise money transfer reviews
Wise has over 250,000 reviews and is rated 4.3/5. Expats in Ireland are pleased with the following:
- The speed of the transfers. Plenty of Wise money transfer reviews say that money arrived almost instantly.
- The great offer for sending large sums of money. Clients believe that, for example, transferring money to buy a house is more beneficial with Wise than with the Revolut card in Ireland.
- Convenience. Expats admit that using Wise is easy, fits well into their daily schedules, and allows them to support their relatives all around the world hassle-free.
However, there are also negative experiences with Wise that we must consider.
- Misleading information. Wise claims to send money in minutes; however, sometimes, it takes hours. Expats who send urgent transactions feel deceived and do not trust Wise with further transfers. So, if you need to send money instantly, Wise may not be the best choice.
- Wise blocks accounts with money on them. Expats' accounts are sometimes blocked because Wise thinks their activity and funds sources are suspicious. When expats try to collaborate and provide additional proof of income, it’s not always accepted.
- Poor customer service. Agents reply after days of waiting and seem to not provide helpful information. Therefore, Wise clients have problems with maintaining a dialogue with the company.
Now, we should proceed to the Revolut reviews to find out what is better, Wise or Revolut.
Revolut money transfer reviews
Revolut has around 190,000 reviews and is rated 4.4/5 on Trustpilot.
Pros:
- Great for the newly arrived expats. According to expat reviews, Revolut provides nice rates, instant transfers, and an opportunity to open an account easily compared to traditional banks.
- No hidden fees. Expats say that Revolut is transparent with its pricing, and there are no unpleasant surprises with additional charges.
- Speed. Revolut transfers are fast and convenient, which expats absolutely love.
Cons:
- Fees grow over time. The costs of sending money abroad from Ireland are becoming higher and higher, which frustrates customers.
- Expats can’t open an account. They provide the required documents for identity verification but get rejected for no particular reason.
- Poor customer service. Like Wise, Revolut's customer support is not perfect. Clients in Ireland are having a hard time contacting the company and getting a proper answer to their questions.
To sum up, having a Wise or Revolut card may be handy when you need to quickly open a bank account and pay for daily expenses, but for international money transfers, you need to find a better alternative.
Profee—beneficial alternative for international remittances
Profee is a financial service that provides money transfers from Ireland to over 90 countries, and the number is growing. Profee learns from the mistakes of the competitors and provides a beneficial offer to its clients:
First-transfer gift
0% fees and a promo rate for your first transfer. To ensure a smooth start, you can send money for the first time without any extra losses.
Little to no fees
After your first transfer, Profee will keep the fees low because it cares about the funds you earned with hard work.
Transparency
There are no hidden fees. Once you enter the transfer amount into a calculator, it will show you the exact sum a recipient will get.
Send large sums of money
With Profee, you can send large amounts of money if you want to buy a car or open a business. You’ll need to provide some additional documents, like a source of income, but it’s done easily and quickly.
Flexibility
Depending on your destination, you can send money to bank accounts, cards and mobile wallets. Pick what suits you the best and enjoy seamless transfers,
Security
Profee is a licenced company trusted by thousands of expats and rated 4.4/5 on Trustpilot. The service follows strict PCI DSS security standards and ensures your money and data are safe.
Speed
Profee transfers are fast and easy. It’ll take you minutes to send money. After that, you can explore the top hiking destinations in Ireland or go fishing without any worries.
Regarding overseas remittances, the question of what is better Wise or Revolut is not valid as there is Profee. Try it yourself and enjoy the first transfer offer—register on the Profee website or download the app.
Conclusion
We compared fees, reviews, and Wise and Revolut plans in Ireland. Before choosing a digital bank, evaluate the offers again and see what best suits your needs. We hope that this article helped you answer the question, "What is better, Wise or Revolut?" The final decision is up to you, but for international money transfers, Profee is a great choice.
