Wise vs Revolut Business UK 2026
How each charges for currency exchange, multi-currency receiving, team features and deposit protection, with links to check current pricing on each provider's site.
Wise Business or Revolut Business for freelance FX?
They charge for currency exchange in different ways. Wise Business charges a fee on each conversion on top of the mid-market rate. Revolut Business sells monthly plans, some of which include an amount of currency exchange each month before extra charges apply. Which costs less depends on your monthly volume and currency mix, so compare both providers' current pricing against your own numbers.
Key takeaways
- Wise: pay per conversion; no plan to choose
- Revolut Business: choose a plan; check what each plan includes and charges
- Wise gives you local account details in several currencies for receiving payments
- Revolut has broader expense-card and team features
- E-money is safeguarded, not FSCS-covered: check each provider's terms
Editorial: Written by FreelanceToolkit UK. Drafted with AI assistance and checked against official sources before publishing. Provider details come from providers' own published pages and can change, so check them before you sign up. This is general information, not financial advice. Editorial policy · Sources & methodology · How we test tools.
In this guide
For UK freelancers invoicing international clients, Wise Business and Revolut Business are two common multi-currency accounts. Wise is built around transparent per-conversion fees and local receiving details; Revolut Business offers monthly plans with broader business features (expense cards, team roles, integrations). Which one saves you money depends on your currency mix and volume, not on headline pricing.
Check current pricing on Wise's and Revolut's own sites
We don't quote plan prices, conversion fees or allowances on this page because both providers change them. Read the current pricing before you choose:
- Wise Business: wise.com/gb/business
- Revolut Business: revolut.com/business
For Wise, note any account setup fee and the conversion fee for your main currency pairs. For Revolut, note each plan's monthly fee, how much currency exchange it includes each month and the charge above that. Then work out the monthly cost of each at your real volume.
Worked example (no prices)
Worked example: freelance developer, mostly USD income
Ravi invoices US clients every month and UK clients the rest of the time. He takes his last 12 months of USD income to get a typical monthly conversion amount. For Wise, he multiplies that amount by Wise's current conversion fee for USD to GBP. For Revolut, he finds the cheapest plan whose monthly exchange allowance covers his amount and adds the plan fee, plus the charge on anything above the allowance. Whichever total is lower at his real volume wins, and he re-checks if his volume changes.
At-a-glance comparison
| Factor | Wise Business | Revolut Business |
|---|---|---|
| How you pay for FX | A fee on each conversion | Monthly plan; some plans include an exchange allowance |
| Account and monthly fees | Check wise.com | Check revolut.com |
| Local receiving details | Several currencies (for example USD, EUR, GBP) | Several currencies |
| Expense cards and team features | Yes | Yes, broader controls on paid plans |
| Accounting integrations | Check the provider's integration list | Check the provider's integration list |
| Deposit protection | E-money: safeguarded, not FSCS-covered | Check the account terms |
Decision tree
Answer these questions in order. The first one with a clear answer usually decides it.
- Do you receive USD, EUR or other foreign-currency income?
Local receiving details let clients pay you domestically, avoiding international wire charges. Check which currencies each provider supports. - Is your monthly FX volume small or irregular?
A pay-per-conversion model (Wise) is usually simpler; check the fee for your currency pair. - Is your monthly FX volume steady and larger?
Compare a Revolut plan's fee and exchange allowance against Wise's per-conversion cost at your volume. - Do you need company cards and roles for a small team?
Revolut Business has broader team features; check which plan includes them. - Do you want FSCS protection?
E-money is not FSCS-covered. Keep larger balances in a UK bank account and use the multi-currency account for payments.
Sources & official references
Official references used on this page. Provider fees are deliberately not quoted: check them on each provider's own site.
Related on FreelanceToolkit UK
Wise Business and Revolut Business are two app-based UK business accounts widely used for international payments. They differ on the pricing model: Wise charges per conversion, while Revolut Business sells monthly plans, some with a monthly exchange allowance. This guide compares the two on the factors that decide the cost for your own volume, and links to each provider's current pricing.
Side-by-side: the factors to compare
| Factor | Why it matters | What to check |
|---|---|---|
| Conversion cost | The main cost for most freelancers invoicing abroad | Wise's fee for your currency pair; Revolut's plan allowance and the charge above it |
| Monthly or setup fees | A fixed cost you pay whatever your volume | Each provider's current pricing page |
| Weekend and out-of-hours rates | Some providers add a markup when markets are closed | The provider's FX terms |
| Local receiving details | Lets overseas clients pay you domestically | Which currencies are supported |
| Team features | Cards and roles for staff or contractors | Which plan includes them |
| Deposit protection | E-money is safeguarded, not FSCS-covered | The account terms and the FCA Register |
Best for: pick by scenario
- Receiving overseas invoices in USD/EUR/AUD: Wise Business — local receiving details in major currencies
- Steady monthly FX volume: compare a Revolut Business plan's allowance against Wise's per-conversion cost at your volume
- Paying overseas suppliers occasionally: Wise Business — per-conversion pricing with no plan to choose
- Want a broader business product range: Revolut Business — cards, expenses, integrations, team roles
Strengths and things to check
Wise Business
Strengths
- Per-conversion pricing shown before you convert
- Local receiving details that work like a local account for clients
- Suits irregular or one-off transactions
Check before you apply
- Any account setup fee and the conversion fee for your currency pairs
- Team and integration features if you need them
Revolut Business
Strengths
- Monthly plans, some with a currency exchange allowance
- Broader business product suite (cards, expenses, payouts)
- Team-scale features
Check before you apply
- Each plan's fee, allowance and the charge above the allowance
- How your money is held (see the account terms)
Pricing: how to compare
We don't quote either provider's fees because they change and earlier versions of this page contained figures we could not verify. To compare: take your typical monthly conversion amount from last year's transactions. For Wise, multiply it by the current fee for your currency pair and add any fixed fees. For Revolut, find the cheapest plan whose allowance covers your amount, and add the plan fee plus the charge on anything above the allowance. Check prices on Wise's site and Revolut's site on the day you decide.
Account opening and verification
Both are applied for online. Wise Business and Revolut Business both need business verification (your details as a sole trader, or Companies House registration for a limited company) and identity documents. Revolut asks you to choose a plan when you open. Verification is often quick for straightforward applications.
Multi-currency receiving accounts
Wise provides local receiving details in several currencies, so a US client can pay you by a domestic US transfer rather than an international wire, and the money lands in your Wise USD balance without conversion until you choose. Revolut also offers receiving details in several currencies. Check which currencies each supports for business accounts before you choose.
Business product range
Revolut Business has a broader product suite beyond payments: physical and virtual cards for employees, expense management, integrations and payroll add-ons. Wise Business is more focused on the payment layer: multi-currency balances, bulk payments and accounting integrations. A solo freelancer who mainly needs conversions may find Wise simpler; a small team may value Revolut's wider suite.
Common mistakes when picking
First, choosing on a plan's exchange allowance without modelling your actual volume: if you regularly go over the allowance, the extra charges can outweigh the plan's value. Second, assuming local receiving details are a full bank account: they're for receiving payments, and the money is held under each provider's e-money terms. Third, not using either for outbound payments: both let you pay overseas suppliers in their currency, often more cheaply than an international wire from a UK bank account.
Real UK freelance scenarios
A UK designer with one US client paying monthly: Wise's USD receiving details and per-conversion pricing are simple. A consultant with steady EUR invoicing each month: compare a Revolut plan's allowance against Wise's cost at that volume. A developer paying overseas contractors small amounts: either; Wise is simpler per transaction, Revolut may suit if you also want team cards. A limited company paying a remote overseas contractor every month: compare Revolut's payroll and payout features against Wise's bulk payments.
How to choose between them
Work out your typical monthly conversion amount, price it at each provider's current rates, and add any fixed fees. Then weigh the features you need. Both can be opened without a long commitment, so you can test with a small payment first.
This comparison is editorial. We describe each provider's structure and the factors to check rather than ranking them with scores, and we don't quote prices we can't verify.
Where this fits in the wider stack
This comparison is part of the UK International Payments Hub. Related comparisons and deep-dives are linked from there. For the full UK freelance operating stack, see the recommended tools page and the freelance productivity stack guide.
FX cost comparison
Enter the fees from each provider's own current quote. We don't pre-fill provider fees.
Frequently asked questions
Which has cheaper FX?
It depends on your volume and currency pairs. Price your typical monthly conversions at each provider's current rates, including any Revolut plan fee and allowance, and compare the totals.
How much do Wise Business and Revolut Business cost?
Prices change, so we don't quote them. Check the current pricing on Wise's and Revolut's own websites before you apply.
Can I have both?
Yes. Some UK freelancers use Wise for receiving foreign-currency invoices and Revolut for its business product suite.
Are they FSCS-protected?
E-money is safeguarded but not covered by the FSCS. Check each provider's account terms and the FCA Register to see how your money is held.
Can I receive payments from US clients?
Yes, both offer local receiving details for US dollars; check the current list of supported currencies.