Revolut vs. Wise: Compare EUR to PKR exchange rates

Financial planning for Pakistani expats in Europe often includes mastering global money transfer tools, to be able to support their loved ones back home. Many look at popular options like Revolut vs Wise as trusted fintech providers that offer secure remittances. But what about the fees and the EUR to PKR exchange rates? Read on for a Wise vs Revolut comparison and some smart money-saving strategies and alternatives.

Transfer fees and exchange margin explained

Before you start exploring Wise’s or Revolut’s euro to PKR rates, it is a good idea to first understand the components comprising the cost of a money transfer. This would help you to make an efficient hidden costs comparison of Revolut vs Wise or any other provider and ultimately choose the best EUR to PKR remittance option.

Currency exchange margin is the difference between mid-market rates and those offered by the provider, on EUR to PKR or any other pair of currencies. Keep in mind that margins are dynamic and change depending on current euro remittance trends. Sometimes, margins can even be negative, meaning no profit for the provider but better rates for the customer. Services like Wise claim they do not apply margins at all, and for the purposes of a Wise vs Revolut comparison, it would mean that it beats Revolut’s exchange rates. At the same time, some expat-friendly apps such as Profee often have special promo rates which are better than even the Wise’s EUR to PKR exchange rate (see the table below or check Profee’s offer here).

In addition to comparing Wise’s and Revolut’s exchange rates, you need to look at their other charges which depend on the payment method, how quick the payout of euro to rupee is, and so on. The charges can be of two types:

• Fixed fee. This is a flat fee that euro-to-PKR digital wallets charge per transfer. For example, according to the Wise’s currency calculator, it may offer a ‘mid-market’ and better than Revolut’s euro to PKR exchange rate but charges EUR 8.41 to send EUR 1,000 to Pakistan if you pay by bank transfer. Low-fee currency apps, Profee among them, often waive this charge altogether making their offers more attractive to customers.
• Variable fee. On top of a flat fee, some services may charge a variable fee whose size depends on the amount sent. It may be applied in special cases such as using a credit card for payment or, in the Revolut’s case, transacting on weekends. Therefore, even if your Revolut’s euro to PKR rate looks acceptable, the overall charges might not be the lowest, as some Revolut reviews show.

The table below gives an example of Profee’s, Revolut’s, and Wise’s EUR to PKR exchange rate and the overall fees for a transfer of EUR 1,000.

Revolut vs Wise vs Profee: fee comparison

• If paid by bank transfer

Let’s now have a closer look at each of the three providers including their features, services, and online transfer reviews.

Revolut

Although not just a remittance app but an online bank praised in many Revolut reviews, the company started as one of those secure-login fintech apps that were supposed to make money handling for globetrotters easier. Today it is present in over 200 destinations and operates more than 35 currencies.

With Revolut, euro to PKR conversion can be done routinely in the app but do pay attention to the Revolut’s exchange rate, which is not always the best. Of course, if you compare Revolut’s vs banks’ rates, its offer is far more competitive, but the picture is different against Revolut alternatives in the fintech industry.

Another important point to consider is Revolut’s service availability. For example, in Pakistan it is impossible to take advantage of the Revolut’s fee-free transfers between users: for now, the company does not open accounts for clients there. The only option is sending money to the recipient’s bank account. As shown earlier, the Revolut’s euro to PKR rate is not always the best plus there will be additional Revolut’s fees for such a transfer.

On Trustpilot, a popular user review platform, customer feedback for Revolut gives it an ‘Excellent’ rating (Revolut vs Wise being 4.6 vs 4.4 out of 5). Let’s see what the Revolut reviews are saying.

Pros

• Easy to use
• Comprehensive banking service.

Cons

• High and non-transparent fees
• Issues with registration/login
• Scam/safety concerns.

Wise

One of the pioneers among secure money apps, Wise today has expanded to over 160 destinations globally and offers transactions in more than 50 currencies, including the EUR to PKR real-time currency conversion.

As mentioned before, one of Wise’s transparency features is ‘mid-market rates’. It also boasts a wide network of partner banks across the world which reportedly allows it to minimise the fees and delivery times. In spite of these advantages, the Wise’s EUR to PKR exchange rate and its fees are not always the most favourable, as shown in the table above. Other evaluations have demonstrated similar results, for example our Profee vs Wise vs Remitly comparison here.

Also rated ‘Excellent’ by the users of Trustpilot, Wise is noted for the following:

Pros

• User-friendly interface
• Short delivery times
• Reasonable fees.

Cons

• Unhelpful customer support
• Account blocking/closure
• Excessive bureaucracy.

Profee

Naturally, there are Wise and Revolut alternatives on the market. If you are in search of fees lower than Wise’s or dissatisfied with the Revolut’s euro to PKR exchange rate, look no further than Profee.

An EU-licensed online money transfer service and holder of an ‘Excellent’ rating on Trustpilot, Profee has become a popular choice with Pakistani expats in Europe and elsewhere. Here is why you should check the service, too:

• You save money

Offering the best rates for expats as well as low to no fees, Profee is the most cost-efficient solution for online money transfers. Thanks to its unique market monitoring system, Profee always beats the market with its exchange rates for EUR to PKR and dozens of other currencies. With your very first transfer, you benefit from a special promo rate and unlock multiple benefits that Profee’s customers enjoy. Moreover, you not only save but can also earn money without limits through its generous referral programme.

• You save time

Any interaction with Profee takes as little of your time as possible. Registration only takes a couple of minutes, transfers are delivered almost instantly, and all verification procedures are streamlined for your convenience.

• You save effort

You only need a smartphone with a European phone number and a bank card to start sending money to Pakistan smartly, regardless of location, time, or amount. Get the iOS/Android app or visit www.profee.com to take advantage of the best money transfer service on the market!

FAQ: Revolut vs Wise, and what are the alternatives?

Are exchange rates to PKR better on Revolut?

That would depend on what you are comparing the rates to. For Revolut vs bank rates, the former is definitely better. But when compared to other fintech providers such as Profee, not so much.

Does Revolut support PKR?

Yes, it does. However, you cannot open an account with Revolut in Pakistan and enjoy fee-free transfers between Revolut users. The only option to send money there is via a bank deposit, to which extra Revolut fees apply.

What is Revolut's EUR to PKR exchange rate?

As exchange rates change constantly, you might need to check Revolut’s website/app for the latest numbers. Keep in mind, however, that rates are not the only factor you need to account for when calculating the overall cost of your transfer. Delivery speed, timing, payment method, and such all affect the cost.

What is Wise’s EUR to PKR exchange rate?

According to Wise, its exchange rates, including EUR to PKR, are always mid-market, meaning that the service does not add any margin of its own to interbank rates. But since there are other, non-negligible charges, you might want to check Wise’s website/app for the estimated full cost of your transfer (in our analysis it was the highest among the three providers).

Should Pakistanis choose Wise or Revolut for international transfers?

Both are great fintech services that offer their customers multiple useful features. But if you want to be 100% sure that at any time you get the best rates and the lowest fees on your instant euro to rupee transfers, then Profee is your go-to provider.

Which services offer better exchange rates than Revolut?

Keep in mind that currency exchange rates are not set in stone. At different times, different providers can have better offers on specific currency pairs. So, if you’re hunting for the best rate, ideally you should check all the reliable transfer apps. However, you don’t need to do that if you send money with Profee: its rates always beat the market.