I can call wise and get help with a live agent, but with revolut you can only get help through a email or a bot. I would rather be able to get my help with a live agent vs bot/email.
Hey Mary! Thanks for leaving a comment.. And I couldn't agree more, me too! I believe when I have spoken to Revolut via their app I have spoken to a human. Although you can never truly know these days when it's a generic enquiry! That said, with Wise I've always had wonderful customer service and have for sure spoken to a person because I've asked them some really tricky questions. ^Jonny
I'm a revolut metal user for 4 years now and I've ALWAYS spoken to a human agent whenever i needed it. It's a matter of choice. If the bot doesn't help resolve your issue just ask for a live human agent and you'll get one, every single time. I've never had issues with this.
I'm in the U.S., and I just signed up for Wise. I have found quite the opposite as far as access to their Customer Service personnel. It seems to me, that they have been quite successful in isolating themselves from their customers.
That's a shame, I've personally had pretty good experiences with Wise and their customer service. Although I haven't used them recently so things may have changed.
@@JoeyBeeFit Having said this, I have a couple of things to add. I screwed up on my bank account that I told them to withdraw funds from, and they did get back to me on that issue. I used my WISE debit card on a 90 day trip to the Philippines that I just arrived back from last week. The card worked flawlessly and was widely accepted, and worked well at ATMs as well. Also, Wise is very, very prompt about adding money to your account. As long as you ask them to add money on the same day that you make a purchase, the amount that you spend will be covered. Altogether, I'm very happy I went with Wise.
@Monito Thank you! Revolut suddenly upped my minimum amount from $20 to $50 when adding money from my bank into my Revolut account. They won't say why, only it was their "internal controls". As such I am switching to Wise based on your thorough review that I watched today. Many thanks for this.
Hey MA! You're welcome, glad the video helped you with your decision. I'm curious about this $20-$50 dollar thing you mentioned, am I right in saying you can only top up your Revolut account with a minimum of $50!? ^Jonny
I'm in Thailand and I think using wise is the best option. My job salary will be transferred to my wise account and its a 100% transfer rate. It is reliable and trustworthy. I am happy using wise. Thank you so much Monito
Hi, great video, thank you :) I have a Wise account and glad with it. Fees are there, true, but everything transparent and fast. Revolut for me is not an option as it is only possible on the smartphone. Wise you can use on a computer, too, which is great. This should have been mentioned in the video, too.
Thanks Josef glad you enjoyed the video! I agree, I definitely should have referenced their desktop platforms. I discovered recently when reviewing Revolut and Monzo that Revolut does have a desktop presence but it's pretty poor! ^Jonny
I live in Poland and send money abroad, i use wise and for me is easy to use and really happy with it, if only they don't use this super green color for the cards, would be perfect for me
Hi, I have a question, I live in Italy, so have to spend in Euro, but I get paid for my remote work from the US in dollars. Which one of the two would be more convenient for me to have to have those money sento to?
Hey Marco. I would suggest opening a Wise Multi-Currency account (bit.ly/3HCWDdZ). That'll give you access to US bank account details which you can share with your employer. They can then send the USD to that account and you can exchange it to EUR whenever you're ready. I would say that's the most convenient way to do it 🙂 Hope that helps and let me know if you have any further questions. Please also consider using our affiliate link if you do decide to use Wise (bit.ly/3HCWDdZ) - Grazie! ^Jonny
@@Monitodotcom I guess I should've specify that I have double citizenship and already have a US bank account. I was specifically looking for a method to exchange quickly and to deposit those money and not have to always use Wise to make an international wire transfer from the US Bank to the Italian Bank, which has always the basic Wise fee on top of the exchange rate...I'm slowly realizing I don't have many options other then the one I just described.
Great video, still a little stuck on getting what card? So I am from New Zealand and will be traveling to Europe and the UK for 1 month with some family. We would like to get a card that we can deposit NZD and pay and Withdraw money with their currency so £ and €. We probably mainly use the card itself to pay for essentials items such as food and accommodation. What card would you recommend I get wise or revolut ?
I would go with Revolut. You will receive 2,000NZD of fee-free currency exchange (during the weekend) which is roughly £1,000 or €1,1500. You could begin your trip by exchanging up to that amount and then if you need more you can exchange, and while you will pay a small fee to do so, it would be very similar to WISE. In terms of withdrawing both Revolut and WISE have pretty similar withdrawal fees, so either is good for that. You could be extra savvy and go with both, just in case you exceed the withdrawal limit of one provider, you could then use the other. For now though, I would recommend Revolut, they're a great choice and the fee-free currency exchange is basically unbeatable. Hope that helps, let me know if you have further questions and have a great trip. P.S - If you want to support me please do consider using my affiliate link (bit.ly/36SUefP). ^Jonny
traveling from Australia to SEA, the card use will be atm withdrawals as most of the islands are remote and will need to pay via cash for food, trips ect..., on main land i will be able pay for hotels with a card if possible, do i assume revolut will be the best pick for these two options ???
Yup you assumed correctly Belv. Revolut would be ideal, while you’ll get roughly the same in terms of ATM withdrawal fees, you’ll at least get some fee-free currency exchange which will save you money on fees when transferring from AUD. If you sign up with Revolut via our affiliate link you’ll also get 3 months of free Premium which comes with unlimited fee-free currency exchange. I’ll pop the link below. Cheers ^Jonny bit.ly/36SUefP
My wife and I live in Australia and have a Barclays account in the UK where our pensions are paid. We then transfer funds to our Australian bank when the exchange rate is favorable. Barclays are closing accounts for ex pats later this year so we need to look elsewhere. It looks like Wise may be the best option for us, will we be able to elect funds from our state and employment pensions to be paid into a Wise account?
Yes John that's correct you could have your pension paid into your Wise account. It would be super simple, just share your WISE GBP account details with your pension provider, it'll be no different to when you shared your Barclays account details. You may even get a better FX rate with WISE when exchanging GBP to AUD so that'll be nice :) - Let me know if you have any more questions. ^Jonny
How many cards can you get with wise, and does it take fees?, does wise do the same thing revolut does which is when they you can create lots of revolut cards which is linked to your personal card, so if you pay with a revolut card, it’ll take money out the card you set under the multiple revolut accounts?
Hey Bilal. You can have up to 3 virtual cards with Wise, and you won't pay fees. You could add these cards to your Apple, Google or Samsung pay and then use them to make transactions. In terms of physical cards, you can only have one and you will likely pay a small fee to receive it. Hope that helps! ^Jonny
And is it like revolut, where when you pay with one of the wise cards, it’s takes the money out from your primary card, for example when I use revolut, I put my Halifax card on it, and there is 10 other revolit cards under it, and every time I pay using a revolut card, it takes money out of my Halifax card
Interesting! My experience of Wise customer service has always been pretty good, although I haven't tried them recently. I wonder if they're getting busier and busier and not hiring enough staff to handle the volume? You really can't go wrong with using Revolut as a secondary account either! ^Jonny
Wise are either a scam either maniac. They will verify you 3 times a year and if you're tourist traveling in different countries and no proof of income older than 90 days you cannot use Wise! They block your transfer maybe also your account Wise not reliable! I have 3 years old account in Wise
In wise, suppose if I convert my currency to the local currency such as euro. Does the 200 euro monthly limit apply also for paying in POS device or is it only for withdrawing as cash in ATM?
Hey Rishi. That fee-free limit is just for withdrawing money from an ATM. Whenever you convert to EUR or any other currency you will pay a very small fee with Wise. ^Jonny
From sanction scanner : Under FCA's new regulation on electronic money, UK firms can leave Customer Due Diligence (CDD) measures only under certain circumstances. These situations are as follows: The maximum amount that can be stored electronically is 150 €. This value was previously 250 €. There is a € 150 money limit made electronically in the UK and can only be used in the UK. With this limited money, it can only be used to purchase goods or services; that is, anonymous electronic money cannot finance the relevant payment instrument. If these conditions are met, companies may not take Customer Due Diligence measures.
Hi, I have a hard time deciding which is best for me, could you help me? I'm from Belgium and plan to study in the UK. I will mainly be paying for stuff like my tuiton fees, monthly rent, living expenses etc. in the UK but I'm also receiving money in EURO on my Belgian card that I need to transfer and exchange in pound sterling to be able to make those payements in the UK. I will barely make any withdrawls as I prefer card payments. Thanks in advance.
Hey Tshiella! Of course I'll happily help. Revolut would be the better choice here. You can top up the card with EUR and exchange it to GBP to make payments etc. Your first £1000 will be fee-free and then after that Revolut will charge a very small fee. With Wise you won't receive the initial £1000 fee-free and they will always charge a small fee for each currency exchange. Just make sure if you do decide to go with Revolut that when you exchange currency you always do it on the weekday, NEVER at the weekend. Good luck with your studies in the UK :) and if you do decide to go with Revolut please do support me by using our affiliate link (bit.ly/36SUefP). Thank you so much and let me know if have any further questions. ^Jonny
@@Monitodotcom Hi Jonny, thank you for your quick reply and advice. I will keep note of everything you mentioned! Amazing video btw, your voice is pleasing to the ear!
Hi, I've just moved to Portugal from the UK. I have a Barclays account back in the UK. I plan on living here (Portugal) and working here, so I would need a local bank account to receive future payments and make payments in the local currency without any aditional fees. So I was considering one of these two. Which would you recommend?
Hey JVBO55! I would recommend going with the WISE multi-currency account. That'll give you EUR local bank account details which you can give to your employer in Portugal. You can then just use the WISE card and account to make payments in euros. You'll only pay a fee if you want to exchange EUR to GBP or another currency. For you I think WISE makes the most sense. Hope that helps and please consider using my affiliate link (bit.ly/3HCWDdZ) if you do open a WISE account. Thank you. ^Jonny
@Monitodotcom I went with that one initially and have now signed up with Revolut also as a 2nd account / back up. Many thanks for the helpful video and suggestion 👍
Sorry this may be a stupid question, but say I transfer USD to EURO, once the transfer is made and EURO is in my account will I be charged a few to use the card in EURO countries? Or is it only a fee when you try to use a currency that doesn't apply to the country you are in?
Hey Amanda, that's a great question, once you have the currency in your Revolut account (for example euros) you won't be charged for spending it. So if you're travelling to Europe, then exchange USD to EUR ahead of time, and during the week (so it is fee-free). Then once you're in Europe you'll be able to spend those euros for free :) Hope that helps, let me know if you have any more questions. And if you do sign up with Revolut, please feel free to use our affiliate link (bit.ly/36SUefP) and get £10 free :) ^Jonny
Hi, just wondering how much we can put money in wise account? I mean, if i want to standby money in my wise account without transfer the money to any bank account … there’s have any limit? Coz i love to travel so its more easy if i just let my money in my wise account anytime i want to use. Thanks in advance 🙏🏻
Hey S! There aren't really any limits on how much you can deposit, although if you live in Japan you can't hold more than 1 million JPY across all balances. So if that's not you, then you're pretty much free to hold as much money as you want 🙂 ^Jonny
@@Monitodotcom great!! I’m living in Australia, and travelling around asean countries especially Malaysia and Singapore. It’s easy to use Wise debit card in both countries, that’s the reason why i want put money in advance. Btw, thanks again for your reply 🤗
That's awesome! I promise you'll enjoy using it, I literally travel with mine everywhere! If you haven't signed up yet, do consider using our affiliate link (bit.ly/3pu1eGf) - Thanks! ^Jonny
Hi, thank you for this informative video! I just have a question, are there fees when topping my Wise account with US dollars or Euros (from another personal account that has US dollars and Euro). Because the main purpose for me to open a Wise account would be to use while traveling to cut down on the exchange rate with other banks. Am making a good choice? Thanks!
Hey Sara, typically there wouldn't be fees for transferring (via bank transfer) one currency into another account of the same currency. However, if you use a debit card, some cards may incur fees. For example, using a business debit card can sometimes incur fees, I found this on Revolut. The great thing about these providers is that they are all very transparent, so begin the transfer on the app and they will tell you the exact fees that you'll pay before you send the money. Hope that helps, let me know if you have any more questions. ^Jonny
I come from Switzerland and want to go to Japan for two weeks (holidays). Which one would be better? I intended to get Wise, but maybe you have some further advise. I want to send money with E-Banking to the Wise Card and use it in different cases. Sometimes I want to get money in Yen out of the 7-Eleven shops. Mostly, I want to get higher amounts of cash to pay where card payment is not possible. But, I also want to use the card for payment where it is possible. So, I'll have to pay with the card for Hotels, public transportation and so on. In conclusion, I will have to pay for smaller amounts, but also for higher amounts. I guess that the costs will exceed 1'000 or even 2'000 Swiss Franc. Another question: Should I change the money into Yen before I go to holidays? Or can I leave the Swiss francs in it? Will Wise or Revolut automatically change the money into Yen when I pay with the card or take it out as cash from a 7-Eleven?
Hey Tobi. Sorry for the delayed response. Both Wise and Revolut are relatively similar in terms of fees so the differences for you will be negligible but given you'd like to withdraw money I would lean towards Wise. Both their ATM withdrawal fee-free limits are roughly the same; 30,000 JPY fee-free per month and then 1.75% (Wise) and 2% (Revolut) afterwards. I would suggest changing CHF to JPY (Yen) before you travel, it isn't absolutely necessary and as long as you have some currency deposited in your account Wise or Revolut will automatically exchange for JPY but I like to do it before I travel as a means of setting a budget. One thing to watch out for is to make sure when you transact or withdraw money that if asked, you select to exchange in the local currency. This is something called dynamic currency conversion and is really a trick to charge hidden fees. I've made a video on this previously that may help you understand what I mean (ruclips.net/video/klZL5JaT3fw/видео.html - timestamped). Hope that helps and if you do decide to go with Wise please consider using our affiliate link (bit.ly/3HCWDdZ). Thank you ^Jonny
Hello, I'm originally from France and moving to the US in few days. I have opened both wise and revolut. I have tested some eur to usd transfers and revolut seems to be interesting for exchanging currencies without fees and limit (premium/metal). But Wise seems to be appropriated as I could receive money with US account details, do not think its the case in Revolut. Also I will need to travel a few times during the year with my work. What would you say is the most appropriated ? or maybe both ? Thanks !
Hi! It's always a difficult choice because they're both very similar, although in your case it sounds like Wise would be the better choice. You can receive USD into the US account and spend fee-free in the US. Although if you want to withdraw money from an ATM, then there is a fee-free limit. When you go traveling just exchange the USD ahead of time to the currency you will be spending, while you will incur a very small fee when exchanging currencies with Wise, it's negligible. Thank you and let me know if you have any more questions. ^Jonny
Hi there! Thank you so much for the very informative video! Do you know if Panama is a supported country to open a Wise account and to acquire a Wise debit card?
Hey mate, I got the Wide card last year based off your recommendation, just a quick question… how do you have a Wise Mastercard? When I signed up they gave me a Visa? 🥴
I would suggest a Revolut card, you'd get 2,000 AUD of fee-free currency exchange which you can use to spend money in NZD. That means you can exchange AUD for NZD, more or less at the mid-market rate without paying fees, you won't get that with WISE, and it's about as good as it gets for spending money in a foreign currency. Just make sure to exchange during the week, I would recommend topping up your Revolut card with AUD before you travel and exchanging some for NZD, based on your budgeting needs. Let me know if you have any further questions. ^Jonny
Hi Mate! How are you?. Regarding Wise Travel Card, if I travel to Europe from Australia do I get charged a fee everytime I spend money at the shops? is there a way to minimise those fees?. Thanks a lot, cheers!.
Hey Colo! If you were in Europe and your Wise card only had AUD deposited then each time you purchased you would be charged a small fee (around .41%). This is obviously a tiny amount of money if you are making small purchases. If I were you, and you were going to spending mainly one currency while in Europe (ideally EUR). I would decide how much you wish to budget during your travels, then exchange beforehand. This could be particularly advantageous right now as the Australian dollar is strengthening against the euro. Basically deposit AUD into your Wise account, exchange it to EUR and for the amount you roughly wish to budget. Then spend that money freely in the European Economic Area. Obviously you may visit countries that don't use EUR and if thats the case then you would just incur a small fee each time you spent. Thanks! ^Jonny
@@Monitodotcom So does it means that for example, i am in EU using euro and traveling to Poland, so once I exchange my euro to poland PLN, each time I spend money at a shop I will not be charged by wise? And what about revolut in that case? is it better or nearly the same with wise? Thank you!
@Monito Thank you! This video helped me alot. I'm from US and use these Banks for my Business. I have a Question! I already have my Wise account which got deactivated today for no reason and i didn't get any mail of this. How can i reactive my account? Should I use Revolut for my business ?
Hey Sheikh, glad you found the video useful. I would suggest contacting Wise support to follow up about your account, they are usually quite responsive. Revolut Business is a great platform and one we highly recommend, I've reviewed it in a video before if you'd like to learn more (ruclips.net/video/LdzFjb-F-jY/видео.html). ^Jonny
Thanks for the video on this topic I probably wouldn’t of known about it at all or maybe some more years later as they have been active now for over 5 years. And thanks to RUclips, the internet and technology inventions for making this knowledge share possible internationally!
Ok , I really need help here , I am working as a freelancer/self employed working as a real estate wholesaler, wise is asking for main source of income proof I don't know what to upload there as you know we self employed people don't have 1 main income source. Help will be appreciated Thank you
Hey Afaq! I too am self-employed and have a number of income streams. If I were you I'd share one that you feel is 'safest' and possibly your largest. I can't be sure but I imagine Wise just want to use it as a means of identity checking so it shouldn't matter too much what you share, obviously as long as it is legal :) Let me know how it goes! ^Jonny
Does wise support payment through QR? I am planning to go abroad but there are several transits during the flight.. I wonder if I can buy drinks or snacks using it (without having the native currency in the account)
Absolutely Alvin, even if you ONLY have your native currency deposited in the WISE account it'll just exchange that at the mid-market rate for whichever currency you're transacting in. By QR do you mean contactless payments?
Hi great video although I'm still a little struck for choice! I am from Australia and will be going on a big overseas trip for 4 months, firstly to the US for a month and then into South America (Colombia, Peru, Bolivia, Chile etc). What card would you recommend for me to use? Ideally i'd like to send a chunk of money from my AU card to the wise/revolut card (ie send 500-1k AUD to USD) per week/fortnight and then just use that card everyday on their eftpos machines/tap and go etc.
Hey Daniel! Happy to help. Given the amount of money you intend to deposit from your AU card/account, I suggest signing up for Revolut. You'll get 9,000AUD of fee-free exchange each month - which is great! Just make sure when you exchange AUD to USD or whatever currency, you do this during the week. Do let me know if you have any further questions and if you do sign up with Revolut please use my affiliate link :) bit.ly/36SUefP Thank you. ^Jonny
which would be a better one if you travel frequently in Europe? I have been living in Poland and an avid traveller. Watched your videos but still not able to figure out. Can you please help.
Happy to help :) May I first ask, do you intend on withdrawing money while you travel? And will you be mainly visit countries that have Euros or other European countries with their own currencies? For example the Czech koruna.
@@Monitodotcom Hi, Thanks for replying. Well, I do not intend to withdraw money until and unless it's absolutely necessary. My main purpose is going to be traveling. Can't really say anything about the places I am going to be visiting. You know bro, it is how it is. Can't really say where I am going to be traveling next. But yeah, this I can say that I will be well within the EU region.
No worries, I appreciate the need for privacy/confidentiality. If ATM withdrawal limits aren't an issue then and the choice depends on how much currency you think you'll require, I'm going to suggest Revolut. With Revolut, each month you could exchange for free (Mon-Fri) 5,000PLN per month to spend in a different currency for traveling. www.revolut.com/en-PL/our-pricing-plans For example you could exchange PLN to EUR and go spend it without incurring a fee. Even if you need over 5,000PLN you're probably still better off with Revolut, as you'll always incur fees with Wise BUT at least with Revolut Mon-Fri and up to 5,000PLN you won't pay any fees. Long story short. Revolut, just make sure to exchange currency Mon-Fri.
@@Monitodotcom Thank you so much for the information. That's really helpful. One last question: when we exchange currency, do we incur any charges? Or do we get the real time exchange rate? For eg., 1 pln is 0.21 euro. So, when I will add money in my Revolut account in euros via my default bank account which would be having currency in Pln, will there be any additional charges for the conversion services? And by the way bro, I can't tell you the places of visitation not because of the privacy reasons but because my trips are always leisure ones and are impromptu.
Nice video thank you. I have a Revolut account which I’m very happy with, but I’ll open up a Wise account too, just for the hell of it. I am slightly concerned that opening too many accounts can affect my credit score, but intend to save for the things I want, so it isn’t a major issue.
Hey Tony. Multiple accounts shouldn't harm your credit score in the long-term. You may see a slight dip temporarily but it will return. I have over 20, and have a good score. Although I do have a mortgage and credit cards etc which obviously keep it healthy. Cheers. ^Jonny
Hey Yanni. There may be limits on how much you can transfer out or send but this will vary depending on the currency. This article should hopefully help: wise.com/help/articles/2526719/are-there-limits-to-how-much-i-can-send?origin=related-article-2893492 - Thanks ^Jonny
I was thinking about using revolut as a travel card for my 4 month SEA backpacking trip. If I withdraw an amount of €600 in a month (in dong) with the standard plan, it would only cost me €8 (2% fee on €400). Without additional local atm fees of course. I won't spend more than a €1000 with this card so sticking with the standard plan seems like a pretty good deal to me because I am only interested in paying and withdrawing money. Or am I missing something?
Hey Simon, you're not missing anything. Your withdrawal calculation is spot on and as long as you remain beneath €1000 and exchange currencies during the week, you won't incur any fees. If you sign-up with my affiliate link (bit.ly/36SUefP) you'll also get 3 months of Revolut Premium for free which you can cancel at any time. That has unlimited fee-free currency exchange AND gives you €400 of fee-free monthly withdrawals so you would only pay €4/month to withdraw €600. Its definitely worth considering, even just for 3 months of your backpacking trip. Good luck and safe travels! ^Jonny
great video again thank you, I was trying to open a wise account but they are asking for a £45 fee for opening a business bank account where as you said they offer a free multi-currency account, am I missing something ? Thanks
Hiya! If you want to specifically open a business bank account then they do charge a £45 fee, but their personal account is absolutely free, so definitely make sure you're opening a personal account and not a business one ;) Our affiliate link (go.monito.com/wise?locale=en&RUclips&Video&Wise+vs+Revolut) will take you to their home page, once you are there just click register and you'll be signing up for a free personal account :) Thank you and let me know if you need any more help. ^Jonny
I already have an N26 card and I'm looking to have a back up. I'm leaning towards Revolut but if I get charged for IBAN top ups into my account, then it's a no go for me. Can you confirm? Thanks for the upload.
You Should do a vid on what’s available for Caribbean people to use for who does jobs from home or might be interested in dropshipping cause PayPal doesn’t work in the Caribbean
Nice video ! I wanted revolut but they don’t let me open a account in Spain with adress here , I will be working in Sweden and they will pay me in Their currency and I will send that money from wise to my Spanish bank in order to not lose to much in. Tax because my bank take me 70€ per the transaction wise is good then ?
Hi! Really helpful video! I'm looking for advice: I will move to the UK and live there, but I will also need to travel to Italy (my homecountry) and possibly other countries for my research activity and therefore spend other currencies than GBP, and also I will need to transfer money to my Italian bank account from time to time. I was wondering which option suits better to my needings in your opinion. Thank you very much! ☺
Hey Lusi! Glad you found the video useful. I think your best option would be Revolut. You could get a GBP and EUR account, so you can deposit EUR from your Italian bank account and then exchange it for GBP to spend while you're in the UK. You'll also get fee-free currency exchange (as long as you do it during the week) which you won't get with Wise. While travelling to other countries you can easily exchange the GBP for another currency and hold it on your Revolut card and spend it just like a local would, and that doesn't just have to be EUR, you could travel to Prague and exchange GBP or EUR for Czech Koruna and spend that fee-free. I totally recommend Revolut for you :) Make sure to use our affiliate link as you'll get a €10 free top-up (bit.ly/36SUefP) - Thank you. ^Jonny
@@Monitodotcom Hello! Sorry to bother again but a question came up in my mind and I can't find answer online. Do you advice opening Revolut account in my homecountry in Italy, and then just receiving my salary in GBP once I will move in the UK, or first waiting to be there? Also considering it could take me some time to find a permanent residence in UK.. But I also know that Revolut regulations may differ from EEA and UK and I won't be able to change my country for residence after opening the account here.. So I'm a bit lost. Thank you very much if you can give me a hint! ☺
Hey no bother at all! I've been asked that question a few times and my advice is that you just go ahead and open the account while you're in Italy. You won't have any trouble continuing to use it in the UK. I've also had this previously confirmed by Revolut. You're very welcome, don't hesitate to ask me any further questions. ^Jonny
Hello there, great video, although I do need a bit of help with choosing still. I am from Australia and would like to travel to Japan for a whole month. What card would you recommend for me to use? I will be having around $8-9kAUD that I would probably exchange to JPY, and since, from what I have heard, Japan is mostly a cash-based country, I would most likely need to do a decent amount of withdrawals (possibly will withdraw once per week for half the weekly budget). Some people recommend wish, others Revolut and even some say both (which I do have, but haven't done anything with them yet as I'm still unsure). What do you think?
G'day Davies! No problem I'm happy to help :) As you want to withdraw cash and you will be limited by both Revolut and Wise, then I would suggest using both. That way you could at least take advantage of their fee-free allotments. They'll also be relatively balanced in terms of exchange rate fees, just ensure with Revolut when you do exchange AUD to JPY that you do it during the week. ^Jonny
In terms of exchanging foreign cash, I'd suggest Revolut as you will be able to exchange up to 9000 AUD fee-free and at the mid-market rate (more or less). For withdrawing cash they're both pretty equal. With Revolut you can withdraw up to 350 AUD, after that you'll pay a 2% fee for the withdrawal amount. With Wise, once you exceed 350 AUD you'll pay 1.75% of the withdrawal total and a fee of 1.50AUD per withdrawal. Although from January 1st with Wise you will only pay 1% of the withdrawal amount. Basically, I'd suggest if you want to withdraw money for free then use both Wise and Revolut and withdraw 350 AUD (that's around 30 JPY) from each.
Love the video!! I'm moving to the UK from Germany for my BA soon and I was wondering which card would be better for spending my money in the UK as well as receiving money transfers from Germany and from a UK employer? Thanks a lot!
Thanks Ayanda, glad you enjoyed the vid! I would suggest going with Revolut. Simply because they're both going to be relatively equal on fees however with Revolut you do get fee-free currency exchange (Monday-Friday) up to £1,000. Any money you exchange beyond the fee-free amount will still incur a fee relatively similar to Wise. Just remember when you receive EUR from Germany, exchange it to GBP during the week to get the best possible deal. Revolut will also provide you with UK account details that you can give to your UK employer so when you begin receiving money you'll be able to use that before exchanging EUR to GBP. Hope that helps and if you do decide to open a Revolut account please feel free to support us by using our affiliate link 🙂 bit.ly/36SUefP Thank you and good luck with your BA! ^Jonny
Hey, first of all thankyou for the informative videos, I just wanted to ask I have family from the UK who's has gone to new york on holiday and is with Barclays current. What i wanted to know is 1, is she being charged when withdrawning cash and spending via her card and 2: What bank should I use to send her some money, i have Barclays everyday card, Starling, revolut, chase, monza and wise. The amount would be under £1000. Thankyou
Hey! No worries, glad you're finding the videos useful :) Without knowing the full details of her Barclay's current account I can't say for sure, BUT it is very likely Barclay's are charging her high fixed fees and hidden fees in poor exchange rates. If I was her I would open an account with Starling Bank and use that to spend money in New York or anywhere internationally. Do check out the video I made on travel cards (ruclips.net/video/klZL5JaT3fw/видео.html) or send it to her for more details :) I've time stamped it on when I discuss Starling. For sending her money just use our comparison engine via www.monito.com - That will tell you who the best option to send money is right now, this is always changing so it's worth checking each time you send money. I just searched for you, and if you are sending £1000 to the US then apparently Revolut right now is the best option. Especially if you send the money during the week as Revolut don't apply an exchange rate margin AND with the standard free account you'll get £1000 of fee-free transfers each month. Thanks! ^Jonny
Hey there! Just wanted to ask I just arrived to Germany after setting up a fintiba blocked account for my exchange semester. Would Wise be a reliable choice to setup my monthly payout from the blocked account and pay my rent+day to day expenses with their debit card? Seemed much less of a hassle than a traditional German bank but I just wanted to make sure. Thanks!
Hey! For sure, you could just deposit the amount of money required to pay rent and other expenses into your Wise EUR account and that will work like a traditional German bank account. Good luck with the exchange semester, and if you do decide to register with Wise please feel free to use our affiliate link (bit.ly/3pu1eGf) Many thanks. ^Jonny
Hi! Thanks for the informative video! I am travelling throughout Australia for 3 months and I'm debating between using Wise or Revolut. I will probably spend more than 1000 euros per month, so then I'd have to pay additional fees if I do not get Revolut premium. I've read that Australia is pretty easy to get around paying contactless so I'm not expecting to withdraw a lot of money. I'm leaning more towards wise due to the 1000 fee-free limit on revolut and am curious to hear your opinion. Is it worth to pay for Revolut premium?
Hey Roxy. Both Revolut and WISE charge relatively similar fees to exchange currencies, so you may be better off with Revolut thanks to their fee-free allotment. Although Revolut does charge extra to exchange currencies(around 1%) during the weekend which WISE does not. While Premium does cost money, through Monito you can get 3 months of Premium for free, which could be perfect for your trip. You can also cancel at any time before the plan ends so you won't pay anything and you'll get unlimited fee-free currency exchange. Just don't exchange during the weekend :) Just use our affiliate link (bit.ly/36SUefP) download the app, open an account and within 72 hours of opening make sure to upgrade to Premium. Let me know if you have any problems and make sure to do it close to when you depart on your travels and set a calendar reminder for just before the 3 months are up. All the best :) ^Jonny
@@Monitodotcom after a year of usage they will make the limits bigger im on free plan and have 1000£ fee-free daily limit and 14000£ monthly! And have been a client for about 3 years
Hi, thankyou for the video! I have a question... My partner and I are Australians, and are travelling to India next month. We are unsure of what to use, we have signed up to Upbank (which is partnered with Wise for international transactions) would you recommend converting our AUD to INR to pay for things while we are there? Upbank said that they convert it automatically through mastercard rates if we pay for things in India, but that when given the chance we should pay in the local currency, which would mean that we dont have to sign up for a wise account as well. Should we stick with this, or get something like revolut/wise as well? Thankyou heaps! We are very confused lol (if it didn't sound like that already haha)
Hey Asha. I would suggest opening a Revolut account, depositing AUD into the account and converting it to INR. Make sure you do this during the week to avoid any weekend fees, and only convert up to $9,000 AUD as that's the Australian Standard account limit for fee-free currency exchange. Obviously, if you need more then that's fine but you will have to pay a very small fee. Once the AUD is converted to INR then you can use your Revolut card to spend or withdraw money in India just like a local would. If you have any INR left over after your trip then you can just exchange it back to AUD when you return and perhaps the following month if you need more fee-free currency exchange. Although Mastercard's exchange rates are more or less on par with the rates Revolut use, with Revolut's fee-free currency exchange they will likely be your best option for travelling to India. Hope that helps and if you do decide to sign-up for an account please consider using my affiliate link (bit.ly/36SUefP). ^Jonny
I have a Wise account. At the moment I am in Sri Lanka and I am unable to open a GBP balance on Wise. I just want to know if that becomes possible when I migrate to the UK and have a UK address, bank details and a UK phone number? Also, does it happen automatically when I change the details (address, country and phone number) on the Wise account? Please clarify this for me.
1) No you can open an account without depositing any money, although to receive the card you may need to pay a small fee (depending where you reside). 2) Yes it works great in Spain :) Cheers! ^Jonny
No worries Jose! If you do decide to sign-up please use our affiliate link: go.monito.com/wise-multi-currency-account, they’ll know we sent you and it helps support our channel 🙂 Thank you.
Very insightful video! I am seeking some advice for my situation, which I hope you can enlighten me with. I'll be traveling next year for an uncertain time - not having a physical address. After that I will migrate to a south European country (I am Dutch). I will need the account for: withdrawing and spending in local currencies | potentially receiving money for work services maybe during and certainly after travel | Hold savings. I am very curious which one you would advice. Thank you in advance for the time and effort to answer this question!
Hey Flower! I think based on your upcoming situation, both will benefit you greatly! However, I'd suggest Revolut. With Revolut you will get fee-free currency exchange which you won't with Wise, so for that reason as well I recommend Revolut. Just make sure if you do exchange currencies with Revolut that you do it during the week so you avoid any weekend (very small) fees. With R you would also get access to a lot more features that would be particularly beneficial for frequent travelling. For example, you could, when you're ready, upgrade to their Metal account and benefit from the travel insurance. Thanks and let me know if you have any questions, and if you do decide to sign up for Revolut please consider using my affiliate link (bit.ly/36SUefP) Thank you :) ^Jonny
Just to understand, for Revolut standard transactions in another currency for payment online or stores/restaurants etc are zero during the week. So it would be possible to get around this by simply converting money on Friday and then paying using that currency account during the weekend. This way there would be no fees. So let's say I go on vacation in Japan and exchange all the money I have budgeted for the trip beforehand, I could go and pay without ever having to worry about extra fees regardless of the day of the week, correct? With Wise there are never conversion fees, even on weekends, but there is a small commission anyways, while with Revolut there is no an extra commission. With Revolut Premium and Metal, no conversion fee except weekends still?
Hey Ana, if you are transacting with a currency that you don't hold in either account then with Wise you will pay very tiny fees, with Revolut Standard you get some fee-free currency exchange before they charge a small fee. In the UK, Revolut Standard accounts get £1,000 of fee-free currency exchange which means you can spend up to that much in a DIFFERENT currency without being charged a fee. With either, if you hold your local currency, let's say GBP then there are no transaction fees. Hope that helps! ^Jonny
Hi, thanks for the great video, it was really informative and helpfull. Which would you recommend if I was running a shop selling to Europeans (I am based in South Africa) and would be receiving foreign currency? I'd like to keep the cash in Forex... Thanks in advance...
Hey, firstly congrats on the business! This is an interesting question, I just have a few questions if that's okay. Is your main residency in South Africa? As the Wise card isn't available in SA and neither is Revolut. Also, is your shop an e-commerce business? ^Jonny
@@Monitodotcom Hi Johnny, the e-commerce shop is based in Switzerland. All shipping would be done exclusively in Switzerland, around Switzerland. My mane residence is in South Africa but I do have access to an address in Switzerland.
Okay excellent. The Wise Multi-Currency account could be great for you to get paid in Euros, however there is a negative interest fee on balances over €15,000 (this is changing to just €3000 in the next few months). This means that if you hold over a certain balance in Euros you will get charged a small fee, which as a business might be an issue for you. The Wise Business account has a greater threshold for this and allows for larger balances in euros, this might be worth checking out for you as it's available in Switzerland (wise.com/gb/business/). Ultimately I think Wise is the best choice for you and their business account could be a good option too. ^Jonny
I'm an international student in Germany and already have my main account with Sparkasse. But I'm looking for a secondary bank account to do daily spendings. What bank account would you suggest?
Hey Kabir, you can find our full ranking of the best online banking solutions in Europe here www.monito.com/en/wiki/best-online-banks-europe Our recommendation is to open a Revolut account, you can follow our affiliate link to get 3 Months of Revolut Premium for free go.monito.com/revolut ^François
Thanks Mr Smith. You don’t need to phone them you can easily open an account online, just visit our affiliate link (go.monito.com/wise?locale=en&RUclips&Video&Wise+vs+Revolut) and register. It’s really easy :) ^Jonny
Marvelous video! Detailed and understandable! By the way I would like your opinion. I will soon be traveling to the US from a European country and I would like to make most of my purchases by card. Which one is better for me in terms of currency? Thank you. Keep up the amazing work!
Hey! Glad you found the video useful. I would recommend Revolut. You could deposit EUR (or whichever currency you use) into your Revolut account and then exchange it on the app for USD when you travel to the US. You would then be able to spend this money just like an American. Revolut Standard will also give you a monthly €1,000 EUR (or the currency equivalent) of fee-free currency exchange, but after that, you will pay a very small fee. Just remember if you decide to use Revolut, you exchange currencies Monday - Friday and not during the weekend as you will incur a weekend surcharge. Hope that helps and let me know if you have any further questions. Also if you do decide to sign-up please consider using our affiliate link (bit.ly/36SUefP) which will also give you access to Revolut Premium for free for 3 months. That also has unlimited fee-currency exchange which would be ideal for your trip to the US :) Take care! ^Jonny
I went to sign up for Wise, but stopped. There's an option between personal and business account. I wanted to have an account/card for travel but also receiving payment in different currencies as a freelancer. Wise support is telling me I need to apply for the business account and will only be approved if I'm a registered business (even though I'm a freelancer, I'm not a registered business . I don't know if Wise Personal Account would be suitable?
Okay cool! Why don't you consider opening a Revolut account and then getting their Revolut Pro account? This is for freelancers with Revolut accounts that don't want to open a Revolut business account and instead just want some business features within the standard personal account. I made a short about it: ruclips.net/user/shortscxmfz2qme9E You get some great cash back with it and it has an invoicing template. Let me know your thoughts and if you do decide to sign-up please consider using my affiliate link :) bit.ly/36SUefP ^Jonny
It is a new feature they introduced a few months after I made this video. It is free with Revolut Standard and available for freelancers. I opened one myself, you get a separate card that you can use for business expenses that earns cashback :) It's really good!
Hey, can you please tell me which will be better for me I am a student in India soon will be going to czech republic so I have to pay accommodation fee and tution fee and other fees to czech krone or euros from India ?
Hey Tanishq, it will depend on how you plan to pay your tuition and accommodation, but I think it's definitely worth checking out Niyo a neobank from India who I recently reviewed (ruclips.net/video/nZYK_S60FtM/видео.html). Their Niyo Global card could be a great choice for you and for paying your fees and living in Czech Republic. ^Jonny
Hey jhonny, I am starting my studies in germany soon and want to have an account through which I can transfer money to and from germany and India (my home country) although these transaction won't be frequent maybe once or twice every six months. I'll also have a study abroad term outside germany so what card would be best for this situation? (Also I would like to mention account will be opened after I arrive in germany)
Hey Vats! I think for your situation Revolut would be the best, in terms of traveling and for making one or two exchanges. I'm assuming you'll top-up the card with INR? If so ensure you exchange INR to EUR during the week-day to get the best possible deal. Obviously Revolut isn't available in India so when you open the account you'll need your German address and telephone number. Will you be able to provide these?
Hey! Quick question :) We live in Sweden and are just about to start our journey into the property side. That means both buy and sell in the UK. We were told to check these two different options. Which would you suggest ? One - if so Wise or Revolut or should we go with both of them for different purposes? Pls get back asap :)
Hey Danne. To clarify, are you living in Sweden but moving to the UK? And selling a home in the UK also? Would the purpose of joining Wise or Revolut be to handle the currency exchange between SEK and GBP? ^Jonny
Yeah we live in Sweden and we are about to do some business in the UK. The currency is one of the reasons, yes, but we also need to work fast with our business deals and sometimes have funding in a standby position for a purchase Is it possible to reach out to you directly ?
Hi, I'm from Poland. I have USD on Wise and I wanted to send it to my USD currency account at my bank in Poland. I used SWIFT option with my address etc. but each time I send it, the money come back to Wise (after 2 days). I don't know how it fix it. From my bank side I do everything okey - the right IBAN/ account number and SWIFT. Has anyone had a similar problem?
Great video with loads of information. I’m stuck on which card to pick. I go on holiday at list twice a year and need a card to use that minimise the amount I carry as cash. Therefore I want to withdraw money to the country I will travel too. However Revolt has other benefits like travel insurance etc I’m stuck please helppp lol. By the way I’m going to Kenya so I will try experience the card you recommend thank you in advance
Hey Christian! May I first ask which country you're from? My initial feeling for you is Revolut. You'll get an amount of fee-free currency exchange which Wise doesn't offer, but also with Revolut you could upgrade to Metal and benefit from unlimited currency exchange AND their numerous travel insurances.
Okay great, definitely sign up for Revolut, I'm sure you won't regret it. When you travel to Kenya you can just deposit GBP into your account and then exchange it for Kenyan shilling so it is ready to be spent. It is so easy! Just remember, when you exchange currencies with Revolut that you do it during the week so you don't get charged a weekend fee. If you do sign-up please consider using my affiliate link (bit.ly/36SUefP) - You'll also get £10 for free :) Cheers!
Very good video. I have a question - I live in EU and have set up my Revolut with Euro and USD accounts, if I transfer $2500 to my USD account can I use my Revolut card in the US without incurring more charges?
If i want to transfer 50.000 euros to philippine pesos. What would be my best option please? I am with Revolut but i dont think they operate in the philippines. Even if they do i think there is a limit to how much i can send.
Hey! The nest thing to do would be to check www.monito.com - You can put in your exact transfer details and we'll tell you who the cheapest, fastest and best provider will be. It is super easy to do and won't take a minute. Let me know if you have any further questions. ^Jonny
Hiya! I receive payments from companies in Euro And USD for services rendered. And I wish to transfer to my bank account in Pakistan as soon as they arrive in the Revolut or Wise account. However, Pakistan law is not friendly towards crypto accounts and Online Wallets/Fintech that are not actual banks. So there is a possibility that I might be challenged on this. So when I transfer from Revolut or Wise account, what will it show up? Will show up as a normal bank account or as Revolut or Wise? Thanks
Hi Afrado. I wasn't sure so I sent money from both my Wise and Revolut accounts to my personal bank account in the UK. In my statement, they just appeared as saying they were from me. When I clicked on the transaction details within my app it did say both company names. I'm sorry but I cannot be sure if it will entirely appear or not. ^Jonny
So, If I am from the US, but working remote in the Italy. And I only need occasional ATM withdrawals (due to the fact that Europe is still in the dark ages and most restaurants want me to pay in cash), do I keep just a few hundred dollars/pounds/euro in my Wise/Revolut account, and then transfer more from my US bank if needed ? Or are these accounts meant to be used as full fledged checking/debit accounts ?
Hey Sir! You're like me, I occasionally withdraw just to ensure I have a small bit of currency on me. In your case I'd say yes, keep a few hundred dollars in your Wise/Revolut account and when you need it transfer more. Just ensure you do top up via bank transfer as you won't incur fees that way, otherwise if you top up via debit/credit card you will incur fees. Cheers - Jonny
That depends on the region. In northern Europe, especially Scandinavia, it's all plastic and apps. In the more touristy parts, they always deal only with cash, especially with foreigners.
@@gordondavies7773 I would find it funny and ironic if the police would actually care more about taxes than the many tourist scammers and traps that is infested Italy.
Super video! I want to transfer 30k USD to the UK from the US to pay for my daughter's UK tution, and the exchange rate is great right now. I dont want to use the money other than to pay 10k tuition/year for the next three years. Any preference? Wise or Revolut? Thanks! (i could also move the money to a uk account once the initial transfer is complete)
Hey Elizabeth! Now is definitely a good time to make that transfer, lucky you! It's the total opposite for me being from the UK 😂 So I checked our comparison engine (www.monito.com/en/compare/transfer/us/gb/usd/gbp/30000) and Wise does currently have the best deal for your transfer. Just to check, are you sending the money directly to the school or a UK bank account to then pay the school with the funds? Thanks ^Jonny
@@Monitodotcom I have the money in a special US federal college-savings account (which is actually losing money right now). I thought to move the 30k from this savings account to a us bank account, then to wise, then sit in Barclays UK account. Is that how is works? Or do I just keep the lump of money in the wise account and transfer tuition directly to the UK uni? So like this: US federal college savings account ➡US bank acount ➡wise➡UK bank account➡UK University
Thanks for the detail Elizabeth. You can send money with Wise to any UK bank account, just like you would with Barclays. I suggest you open a Wise account and deposit the USD into that account. When you are ready you could then change that USD to GBP, and send the GBP from your Wise account to the UK university. ^Jonny
Hey Dean, jumping back in as I just spoke to my guy at Revolut for you and I think this is generic across all countries. Apparently, there is no maximum amount of money you can transfer to your account, and *there are also no holding fees* . Although they may ask for confirmation of the source of your funds, I suppose that's a security issue and of course, doesn't impact your question but I thought it was important to note. In a nutshell mate, I don't think there are any fees for holding AUD :) Hope that helps and if you do sign-up then please consider using my affiliate link (bit.ly/36SUefP) you'll also get 3 months of Premium for free.
AMAZING video 1 question, I’m deciding in between those 2 to use it as a normal banking, do my payment’s etc ( I live in Switzerland 🇨🇭) so which one you recommend? BTW I almost never use cash but I will be paying all groceries and basic needs with this account too 👍
Hey Knil! I think given you just want to use it for day-to-day banking choose pick Revolut as it provides greater functionality. They'll both be pretty similar in terms of fees, which will basically be zero for you. But with Revolut you'll get more practical banking and other tools within the app. ^Jonny
I planing to move to New Zealand next month from Ireland.for the initial expense in New Zealand is wise card or Revolut card is more beneficial.plz suggest
Good morning Ruby. I would suggest going with Revolut. You'll receive €1,000 of fee-free currency exchange, which means you can exchange EUR to NZD fee-free for up to €1,000 (Wise does not have any fee-free allotment). Just remember to avoid exchanging EUR to NZD during the weekend as Revolut will charge a minimal fee, regardless of your fee-free currency allotment. Revolut is also a licensed bank in Ireland and Wise isn't, this comes with its benefits, such as deposit insurance. Hope this helps you make your decision and if you do decide to register for Revolut, please consider using our affiliate link (bit.ly/36SUefP) It will also provide you with 3 months of free Revolut Premium which has unlimited fee-free currency exchange :) You can also cancel at any time before the 3 months end. Thanks! ^Jonny
Hi, you made an excellent video, thank you. I would like to know when I travel to Dubai next month and exchange £1000 this month and another £1000 next month, would I able to spend £2000 worth of AED in September. I am trying to understand because there is a limit of £1000 each month. Please clarify this question. I appreciate your help in this matter. 🙂
Hey! The limit is how much you can exchange fee-free, you can exchange more than £1000 if you require (although you'll get pay a small fee) and you would absolutely be able to spend the £2000. Just make sure when you do exchange the £1000 this month and next that you do it Monday - Friday. Thanks :) ^Jonny
Hi! Thank you for this great video! I live in Australia and I’m travelling to Argentina and Uruguay. I will need to withdraw in US once I’m there. Which one you recommend me to go with ? Thank you so much !
Hey Martina. You're welcome, glad you found the video useful. Will you be withdrawing a large amount of money AND how long do you intend to be travelling for? ^Jonny
Since publishing this video the fees for both Revolut and Wise have changed, and when it comes to ATM withdrawals they're both practically the same. They offer 350 AUD (roughly 245 USD) for free each month and after that, you pay a 2% fee. This means you will be charged a fee of 2% for withdrawing $1,255, so around $25. While this fee will be roughly the same for either provider, Wise will also charge you a small fee to exchange the currencies from AUD, while with Revolut you will get an amount of fee-free currency exchange that comes with the account that you can use. *With that in mind, I would recommend Revolut.* If you wanted to, you could also use our affiliate link to sign-up (bit.ly/36SUefP) which will give you 3 months of Revolut Premium for free (make sure to upgrade within 3 days of opening your account). Revolut Premium has $700 of fee-free ATM withdrawals so in total you will only pay 2% on $555 which is $11. Just make sure to downgrade the account from Premium before the 3 months is over to ensure you don't pay for the account. ALSO when you do withdraw money make sure the ATM is free to use (bank ATMs are usually the best choice AND you decline the conversion at the ATM and let Revolut take care of the currency exchange. Hope that helps and let me know if you have any further questions. ^Jonny
I’ll be travelling to uk for studies from Malaysia I’m in a huge dilemma on which card to choose :/ Would appreciate your opinion on which I should choose if I were to receive and send money to and fro home frequently :)
Hi Eunice. I think for you the Wise card would be ideal. You can open it from Malaysia and receive your card before travelling to the UK, and top it up with Malaysian Ringgit & exchange to GBP. Remember if you withdraw more than £200/month there's a small fee so try to keep your cash withdrawals to a minimum. Here in the UK you shouldn't really need cash anyway. Let me know if you have any further questions and please feel free to use our affiliate link to support us :) bit.ly/3pu1eGf - Thanks ^Jonny
I would suspect Revolut, I believe they’re more crypto friendly - especially because you can buy and sell through their platform (although the fees are relatively high compared to others). ^Jonny
Hello! Loved the video, but still a bit confused, soon I am going to Brazil for quite some time, and opening a bankaccount isn't easy. So I would like to send money (euro) and would like to use it also on daily basis for my expenses.
@@Monitodotcom currently still in Belgium, and i saw that Brazil is going to have the possibility to open an revolut for Brazilians in November ( world cup)☺️
That's interesting about Brazil - thanks for the info! I would still suggest opening a Wise account, EUR to BRL with Wise will be relatively competitive, although Revolut may be better if you're within their fee-free currency exchange allotment AND exchange during the weekday. As you have plenty of time before November do keep an eye on exchange rates as you may want to make the exchange ahead of time to try and get a better rate :) ^Jonny P.S If you do sign up for Wise please do use our affiliate link :) bit.ly/3pu1eGf
On one RUclips video someone said that if Wise decides, for any reason, to close your account you won’t get your money back. That is quite disturbing , just the thought that it MIGHT happen is intimidating. I am not sure how to take his comment, he seemed serious and like he knows what he was talking about.
Great, thanks Sara. I'd suggest going with Revolut. While both are relatively similar in terms of fees, you will get a monthly fee-free allotment of €1000 which you won't get with Wise. This means you can deposit EUR into your account and then exchange up to this amount for Indonesian Rupiah for free. You'll also receive a great exchange rate, but MAKE SURE to exchange during the week (Monday-Friday), if not you'll be charged a fee. Let me know if you have any further questions, and if you do sign up please consider using our affiliate link to support us (bit.ly/36SUefP). Grazie ^Jonny
Thank you for the informative video! I'll be heading to Ireland for a semester exchange from Singapore and was wondering which company would be better? I'm planning to use card instead of cash (unless I have to). My main concern would be receiving money from Singapore, and which card would be best for frequent SGD --> Euro transfers? Also, is there a limit as to how much currency I am able to hold in the wallet? Much thanks
Hey Cammie! I'd suggest you get yourself the Wise card (bit.ly/3pu1eGf). It is available to residents of Singapore and you'll be able to deposit SGD into the account or receive money from Singapore and exchange it for EUR with ease and there aren't any limits on how much you can hold :) ^Jonny P.S If you do decide to register with Wise please consider using my affiliate link: bit.ly/3pu1eGf - Thank you.
Wise are either a scam either maniac. They will verify you 3 times a year and if you're tourist traveling in different countries and no proof of income older than 90 days you cannot use Wise! They block your transfer maybe also your account Wise not reliable! I have 3 years old account in Wise
Hey! We are traveling from Toronto to London in August. I have started an account and I am about to order a card. The total shows $30.06 CAN. Is that what I am paying for the debt card? Or is it money that will be going into my WISE account? I hope I wouldn't be paying $30 to order a card. Please advise. Thank you
Hey Rhonda! That's very strange, I believe the card in Canada is free (wise.com/ca/pricing/card-fees?sourceAmount=1000&sourceCcy=GBP&targetCcy=CAD). Did you attempt to deposit any funds into the account? ^Jonny
I'm going with Wise, no doubt 👌🏾
I can call wise and get help with a live agent, but with revolut you can only get help through a email or a bot. I would rather be able to get my help with a live agent vs bot/email.
Hey Mary! Thanks for leaving a comment.. And I couldn't agree more, me too! I believe when I have spoken to Revolut via their app I have spoken to a human. Although you can never truly know these days when it's a generic enquiry! That said, with Wise I've always had wonderful customer service and have for sure spoken to a person because I've asked them some really tricky questions. ^Jonny
I've revolut and used customer service via chat bot and human (human is a bit slow) but exist.
Wise: u mean Live agent from the App?
I'm a revolut metal user for 4 years now and I've ALWAYS spoken to a human agent whenever i needed it. It's a matter of choice. If the bot doesn't help resolve your issue just ask for a live human agent and you'll get one, every single time. I've never had issues with this.
@@Monitodotcom Really great review and explanation. You got my sub and like💪💪💪
I'm in the U.S., and I just signed up for Wise. I have found quite the opposite as far as access to their Customer Service personnel. It seems to me, that they have been quite successful in isolating themselves from their customers.
That's a shame, I've personally had pretty good experiences with Wise and their customer service. Although I haven't used them recently so things may have changed.
Wise customer service sucks in everyway.
Yes, they go out of their way not to talk to their customers unfortunately. That's been my experience too.
@@JoeyBeeFit Having said this, I have a couple of things to add. I screwed up on my bank account that I told them to withdraw funds from, and they did get back to me on that issue. I used my WISE debit card on a 90 day trip to the Philippines that I just arrived back from last week. The card worked flawlessly and was widely accepted, and worked well at ATMs as well. Also, Wise is very, very prompt about adding money to your account. As long as you ask them to add money on the same day that you make a purchase, the amount that you spend will be covered. Altogether, I'm very happy I went with Wise.
@@JoeyBeeFit same for me.................they never talk with you or answer your requests for help
@Monito Thank you! Revolut suddenly upped my minimum amount from $20 to $50 when adding money from my bank into my Revolut account. They won't say why, only it was their "internal controls". As such I am switching to Wise based on your thorough review that I watched today. Many thanks for this.
Hey MA! You're welcome, glad the video helped you with your decision. I'm curious about this $20-$50 dollar thing you mentioned, am I right in saying you can only top up your Revolut account with a minimum of $50!? ^Jonny
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@@Monitodotcom nom ll'pp
I'm in Thailand and I think using wise is the best option. My job salary will be transferred to my wise account and its a 100% transfer rate. It is reliable and trustworthy. I am happy using wise. Thank you so much Monito
Thanks for sharing! ^Jonny
Hi, great video, thank you :) I have a Wise account and glad with it. Fees are there, true, but everything transparent and fast. Revolut for me is not an option as it is only possible on the smartphone. Wise you can use on a computer, too, which is great. This should have been mentioned in the video, too.
Thanks Josef glad you enjoyed the video! I agree, I definitely should have referenced their desktop platforms. I discovered recently when reviewing Revolut and Monzo that Revolut does have a desktop presence but it's pretty poor! ^Jonny
I live in Poland and send money abroad, i use wise and for me is easy to use and really happy with it, if only they don't use this super green color for the cards, would be perfect for me
Hey Riván, it is interesting that you don't like the colour of their card as some people love it. ^Jonny
The colour is great if you lose the card for example in the beach, it will standout of anything else.
@@bolow That's very true!
Hi, I have a question, I live in Italy, so have to spend in Euro, but I get paid for my remote work from the US in dollars. Which one of the two would be more convenient for me to have to have those money sento to?
Hey Marco. I would suggest opening a Wise Multi-Currency account (bit.ly/3HCWDdZ). That'll give you access to US bank account details which you can share with your employer. They can then send the USD to that account and you can exchange it to EUR whenever you're ready. I would say that's the most convenient way to do it 🙂
Hope that helps and let me know if you have any further questions. Please also consider using our affiliate link if you do decide to use Wise (bit.ly/3HCWDdZ) - Grazie! ^Jonny
@@Monitodotcom I guess I should've specify that I have double citizenship and already have a US bank account. I was specifically looking for a method to exchange quickly and to deposit those money and not have to always use Wise to make an international wire transfer from the US Bank to the Italian Bank, which has always the basic Wise fee on top of the exchange rate...I'm slowly realizing I don't have many options other then the one I just described.
Great video, still a little stuck on getting what card?
So I am from New Zealand and will be traveling to Europe and the UK for 1 month with some family.
We would like to get a card that we can deposit NZD and pay and Withdraw money with their currency so £ and €.
We probably mainly use the card itself to pay for essentials items such as food and accommodation.
What card would you recommend I get wise or revolut ?
I would go with Revolut. You will receive 2,000NZD of fee-free currency exchange (during the weekend) which is roughly £1,000 or €1,1500. You could begin your trip by exchanging up to that amount and then if you need more you can exchange, and while you will pay a small fee to do so, it would be very similar to WISE.
In terms of withdrawing both Revolut and WISE have pretty similar withdrawal fees, so either is good for that. You could be extra savvy and go with both, just in case you exceed the withdrawal limit of one provider, you could then use the other.
For now though, I would recommend Revolut, they're a great choice and the fee-free currency exchange is basically unbeatable.
Hope that helps, let me know if you have further questions and have a great trip.
P.S - If you want to support me please do consider using my affiliate link (bit.ly/36SUefP). ^Jonny
traveling from Australia to SEA, the card use will be atm withdrawals as most of the islands are remote and will need to pay via cash for food, trips ect..., on main land i will be able pay for hotels with a card if possible, do i assume revolut will be the best pick for these two options ???
Yup you assumed correctly Belv. Revolut would be ideal, while you’ll get roughly the same in terms of ATM withdrawal fees, you’ll at least get some fee-free currency exchange which will save you money on fees when transferring from AUD. If you sign up with Revolut via our affiliate link you’ll also get 3 months of free Premium which comes with unlimited fee-free currency exchange. I’ll pop the link below. Cheers ^Jonny
bit.ly/36SUefP
My wife and I live in Australia and have a Barclays account in the UK where our pensions are paid. We then transfer funds to our Australian bank when the exchange rate is favorable. Barclays are closing accounts for ex pats later this year so we need to look elsewhere. It looks like Wise may be the best option for us, will we be able to elect funds from our state and employment pensions to be paid into a Wise account?
Yes John that's correct you could have your pension paid into your Wise account. It would be super simple, just share your WISE GBP account details with your pension provider, it'll be no different to when you shared your Barclays account details. You may even get a better FX rate with WISE when exchanging GBP to AUD so that'll be nice :) - Let me know if you have any more questions. ^Jonny
How many cards can you get with wise, and does it take fees?, does wise do the same thing revolut does which is when they you can create lots of revolut cards which is linked to your personal card, so if you pay with a revolut card, it’ll take money out the card you set under the multiple revolut accounts?
Hey Bilal. You can have up to 3 virtual cards with Wise, and you won't pay fees. You could add these cards to your Apple, Google or Samsung pay and then use them to make transactions. In terms of physical cards, you can only have one and you will likely pay a small fee to receive it. Hope that helps! ^Jonny
And is it like revolut, where when you pay with one of the wise cards, it’s takes the money out from your primary card, for example when I use revolut, I put my Halifax card on it, and there is 10 other revolit cards under it, and every time I pay using a revolut card, it takes money out of my Halifax card
hello is it available wise in macedonia
Wise is great indeed. But their customer service is extremely slow at the moment. I'll try to open a Revolut account too.
Interesting! My experience of Wise customer service has always been pretty good, although I haven't tried them recently. I wonder if they're getting busier and busier and not hiring enough staff to handle the volume? You really can't go wrong with using Revolut as a secondary account either! ^Jonny
@@Monitodotcom I think that's exactly it. It was great before and I hope it will be again. Great video, keep comparing!
Thanks peak! Feel free to let me know in the future if there are any particular companies you want me to compare.
Wise are either a scam either maniac. They will verify you 3 times a year and if you're tourist traveling in different countries and no proof of income older than 90 days you cannot use Wise! They block your transfer maybe also your account Wise not reliable! I have 3 years old account in Wise
In wise, suppose if I convert my currency to the local currency such as euro. Does the 200 euro monthly limit apply also for paying in POS device or is it only for withdrawing as cash in ATM?
Hey Rishi. That fee-free limit is just for withdrawing money from an ATM. Whenever you convert to EUR or any other currency you will pay a very small fee with Wise. ^Jonny
@@Monitodotcom and could i ask what about revolut?
Long term Wise user here; Switch to wise and see for yourself. its worth it
Thanks for sharing! ^Jonny
can u use it to buy games from steam argentina?
Such a good comparison video! Covered everything so clearly... thank you!
Glad it was helpful! Thanks! ^Jonny
From sanction scanner : Under FCA's new regulation on electronic money, UK firms can leave Customer Due Diligence (CDD) measures only under certain circumstances. These situations are as follows: The maximum amount that can be stored electronically is 150 €. This value was previously 250 €. There is a € 150 money limit made electronically in the UK and can only be used in the UK. With this limited money, it can only be used to purchase goods or services; that is, anonymous electronic money cannot finance the relevant payment instrument. If these conditions are met, companies may not take Customer Due Diligence measures.
Hi, I have a hard time deciding which is best for me, could you help me? I'm from Belgium and plan to study in the UK. I will mainly be paying for stuff like my tuiton fees, monthly rent, living expenses etc. in the UK but I'm also receiving money in EURO on my Belgian card that I need to transfer and exchange in pound sterling to be able to make those payements in the UK. I will barely make any withdrawls as I prefer card payments.
Thanks in advance.
Hey Tshiella! Of course I'll happily help. Revolut would be the better choice here. You can top up the card with EUR and exchange it to GBP to make payments etc. Your first £1000 will be fee-free and then after that Revolut will charge a very small fee. With Wise you won't receive the initial £1000 fee-free and they will always charge a small fee for each currency exchange.
Just make sure if you do decide to go with Revolut that when you exchange currency you always do it on the weekday, NEVER at the weekend.
Good luck with your studies in the UK :) and if you do decide to go with Revolut please do support me by using our affiliate link (bit.ly/36SUefP). Thank you so much and let me know if have any further questions. ^Jonny
@@Monitodotcom Hi Jonny, thank you for your quick reply and advice. I will keep note of everything you mentioned! Amazing video btw, your voice is pleasing to the ear!
Thank you 😊
Hi, I've just moved to Portugal from the UK. I have a Barclays account back in the UK. I plan on living here (Portugal) and working here, so I would need a local bank account to receive future payments and make payments in the local currency without any aditional fees. So I was considering one of these two.
Which would you recommend?
Hey JVBO55! I would recommend going with the WISE multi-currency account. That'll give you EUR local bank account details which you can give to your employer in Portugal. You can then just use the WISE card and account to make payments in euros. You'll only pay a fee if you want to exchange EUR to GBP or another currency. For you I think WISE makes the most sense. Hope that helps and please consider using my affiliate link (bit.ly/3HCWDdZ) if you do open a WISE account. Thank you. ^Jonny
@Monitodotcom I went with that one initially and have now signed up with Revolut also as a 2nd account / back up. Many thanks for the helpful video and suggestion 👍
Sorry this may be a stupid question, but say I transfer USD to EURO, once the transfer is made and EURO is in my account will I be charged a few to use the card in EURO countries? Or is it only a fee when you try to use a currency that doesn't apply to the country you are in?
Hey Amanda, that's a great question, once you have the currency in your Revolut account (for example euros) you won't be charged for spending it. So if you're travelling to Europe, then exchange USD to EUR ahead of time, and during the week (so it is fee-free). Then once you're in Europe you'll be able to spend those euros for free :) Hope that helps, let me know if you have any more questions. And if you do sign up with Revolut, please feel free to use our affiliate link (bit.ly/36SUefP) and get £10 free :) ^Jonny
@@Monitodotcom and could i ask what about revolut? Is that the same?
Hi, just wondering how much we can put money in wise account? I mean, if i want to standby money in my wise account without transfer the money to any bank account … there’s have any limit? Coz i love to travel so its more easy if i just let my money in my wise account anytime i want to use. Thanks in advance 🙏🏻
Hey S! There aren't really any limits on how much you can deposit, although if you live in Japan you can't hold more than 1 million JPY across all balances. So if that's not you, then you're pretty much free to hold as much money as you want 🙂 ^Jonny
@@Monitodotcom great!! I’m living in Australia, and travelling around asean countries especially Malaysia and Singapore. It’s easy to use Wise debit card in both countries, that’s the reason why i want put money in advance. Btw, thanks again for your reply 🤗
That's awesome! I promise you'll enjoy using it, I literally travel with mine everywhere! If you haven't signed up yet, do consider using our affiliate link (bit.ly/3pu1eGf) - Thanks! ^Jonny
Hi, thank you for this informative video! I just have a question, are there fees when topping my Wise account with US dollars or Euros (from another personal account that has US dollars and Euro). Because the main purpose for me to open a Wise account would be to use while traveling to cut down on the exchange rate with other banks. Am making a good choice? Thanks!
Hey Sara, typically there wouldn't be fees for transferring (via bank transfer) one currency into another account of the same currency. However, if you use a debit card, some cards may incur fees. For example, using a business debit card can sometimes incur fees, I found this on Revolut.
The great thing about these providers is that they are all very transparent, so begin the transfer on the app and they will tell you the exact fees that you'll pay before you send the money. Hope that helps, let me know if you have any more questions. ^Jonny
Amazing video. I love how clearly communicated everything is. I'll be signing up to Wise!
Thank you Theo! ^Jonny
I am unable to withdraw money or use wise card for any purchases. I have to transfer money into my other bank account to access my money.
I come from Switzerland and want to go to Japan for two weeks (holidays). Which one would be better? I intended to get Wise, but maybe you have some further advise.
I want to send money with E-Banking to the Wise Card and use it in different cases. Sometimes I want to get money in Yen out of the 7-Eleven shops. Mostly, I want to get higher amounts of cash to pay where card payment is not possible. But, I also want to use the card for payment where it is possible. So, I'll have to pay with the card for Hotels, public transportation and so on. In conclusion, I will have to pay for smaller amounts, but also for higher amounts. I guess that the costs will exceed 1'000 or even 2'000 Swiss Franc.
Another question: Should I change the money into Yen before I go to holidays? Or can I leave the Swiss francs in it? Will Wise or Revolut automatically change the money into Yen when I pay with the card or take it out as cash from a 7-Eleven?
Hey Tobi. Sorry for the delayed response.
Both Wise and Revolut are relatively similar in terms of fees so the differences for you will be negligible but given you'd like to withdraw money I would lean towards Wise. Both their ATM withdrawal fee-free limits are roughly the same; 30,000 JPY fee-free per month and then 1.75% (Wise) and 2% (Revolut) afterwards.
I would suggest changing CHF to JPY (Yen) before you travel, it isn't absolutely necessary and as long as you have some currency deposited in your account Wise or Revolut will automatically exchange for JPY but I like to do it before I travel as a means of setting a budget.
One thing to watch out for is to make sure when you transact or withdraw money that if asked, you select to exchange in the local currency. This is something called dynamic currency conversion and is really a trick to charge hidden fees. I've made a video on this previously that may help you understand what I mean (ruclips.net/video/klZL5JaT3fw/видео.html - timestamped). Hope that helps and if you do decide to go with Wise please consider using our affiliate link (bit.ly/3HCWDdZ). Thank you ^Jonny
@@Monitodotcom Hey Jonny
Thanks a lot! I'll definitely choose Wise and will also use your provided link.
Best regards
Tobi
Thank you Tobi. All the best for your travels. ^j
Hello, I'm originally from France and moving to the US in few days. I have opened both wise and revolut.
I have tested some eur to usd transfers and revolut seems to be interesting for exchanging currencies without fees and limit (premium/metal).
But Wise seems to be appropriated as I could receive money with US account details, do not think its the case in Revolut.
Also I will need to travel a few times during the year with my work.
What would you say is the most appropriated ? or maybe both ?
Thanks !
Hi! It's always a difficult choice because they're both very similar, although in your case it sounds like Wise would be the better choice. You can receive USD into the US account and spend fee-free in the US. Although if you want to withdraw money from an ATM, then there is a fee-free limit.
When you go traveling just exchange the USD ahead of time to the currency you will be spending, while you will incur a very small fee when exchanging currencies with Wise, it's negligible. Thank you and let me know if you have any more questions. ^Jonny
Hi there! Thank you so much for the very informative video! Do you know if Panama is a supported country to open a Wise account and to acquire a Wise debit card?
You can open a Wise Multi-Currency account if you're a resident of Panama, but the card is unfortunately not available there yet.
Hey mate, I got the Wide card last year based off your recommendation, just a quick question… how do you have a Wise Mastercard? When I signed up they gave me a Visa? 🥴
That's awesome. I think this is purely based on your location, may I ask which country you're from? ^Jonny
I'm travelling from Australia to NZ whats the best card to use to do shopping in New Zealand etc?
I would suggest a Revolut card, you'd get 2,000 AUD of fee-free currency exchange which you can use to spend money in NZD. That means you can exchange AUD for NZD, more or less at the mid-market rate without paying fees, you won't get that with WISE, and it's about as good as it gets for spending money in a foreign currency. Just make sure to exchange during the week, I would recommend topping up your Revolut card with AUD before you travel and exchanging some for NZD, based on your budgeting needs.
Let me know if you have any further questions. ^Jonny
Hi Mate! How are you?.
Regarding Wise Travel Card, if I travel to Europe from Australia do I get charged a fee everytime I spend money at the shops? is there a way to minimise those fees?.
Thanks a lot, cheers!.
Hey Colo! If you were in Europe and your Wise card only had AUD deposited then each time you purchased you would be charged a small fee (around .41%). This is obviously a tiny amount of money if you are making small purchases.
If I were you, and you were going to spending mainly one currency while in Europe (ideally EUR). I would decide how much you wish to budget during your travels, then exchange beforehand. This could be particularly advantageous right now as the Australian dollar is strengthening against the euro.
Basically deposit AUD into your Wise account, exchange it to EUR and for the amount you roughly wish to budget. Then spend that money freely in the European Economic Area. Obviously you may visit countries that don't use EUR and if thats the case then you would just incur a small fee each time you spent. Thanks! ^Jonny
@@Monitodotcom So does it means that for example, i am in EU using euro and traveling to Poland, so once I exchange my euro to poland PLN, each time I spend money at a shop I will not be charged by wise? And what about revolut in that case? is it better or nearly the same with wise? Thank you!
@Monito Thank you! This video helped me alot.
I'm from US and use these Banks for my Business.
I have a Question!
I already have my Wise account which got deactivated today for no reason and i didn't get any mail of this. How can i reactive my account?
Should I use Revolut for my business ?
Hey Sheikh, glad you found the video useful. I would suggest contacting Wise support to follow up about your account, they are usually quite responsive. Revolut Business is a great platform and one we highly recommend, I've reviewed it in a video before if you'd like to learn more (ruclips.net/video/LdzFjb-F-jY/видео.html). ^Jonny
I first saw your website before I saw this channel, the site is clean, Monito
Thanks!
Thanks for the video on this topic I probably wouldn’t of known about it at all or maybe some more years later as they have been active now for over 5 years. And thanks to RUclips, the internet and technology inventions for making this knowledge share possible internationally!
Ok , I really need help here ,
I am working as a freelancer/self employed working as a real estate wholesaler, wise is asking for main source of income proof I don't know what to upload there as you know we self employed people don't have 1 main income source.
Help will be appreciated
Thank you
Hey Afaq! I too am self-employed and have a number of income streams. If I were you I'd share one that you feel is 'safest' and possibly your largest. I can't be sure but I imagine Wise just want to use it as a means of identity checking so it shouldn't matter too much what you share, obviously as long as it is legal :) Let me know how it goes! ^Jonny
@@Monitodotcom lol that's the thing I don't know what to provide them as a proof , bank statement or what ?
Perhaps an invoice and a bank statement that has a corresponding payment? J
Does wise support payment through QR? I am planning to go abroad but there are several transits during the flight.. I wonder if I can buy drinks or snacks using it (without having the native currency in the account)
Absolutely Alvin, even if you ONLY have your native currency deposited in the WISE account it'll just exchange that at the mid-market rate for whichever currency you're transacting in. By QR do you mean contactless payments?
@@Monitodotcom yesss.. be it with qr code or the card
Yes that's absolutely fine Alvin, your WISE card will have contactless.
@@Monitodotcom Thank you so much for the answer it really helps!!
Hi great video although I'm still a little struck for choice!
I am from Australia and will be going on a big overseas trip for 4 months, firstly to the US for a month and then into South America (Colombia, Peru, Bolivia, Chile etc). What card would you recommend for me to use? Ideally i'd like to send a chunk of money from my AU card to the wise/revolut card (ie send 500-1k AUD to USD) per week/fortnight and then just use that card everyday on their eftpos machines/tap and go etc.
Hey Daniel! Happy to help. Given the amount of money you intend to deposit from your AU card/account, I suggest signing up for Revolut. You'll get 9,000AUD of fee-free exchange each month - which is great! Just make sure when you exchange AUD to USD or whatever currency, you do this during the week.
Do let me know if you have any further questions and if you do sign up with Revolut please use my affiliate link :) bit.ly/36SUefP Thank you. ^Jonny
I am Australian also, I use many banks, but when I travel I use these *** ING *** (Best), Macquarie bank, UBank and Wise
Fantastic review..wow
This is a superb comprehensive tutorial
Thanks 👍
Glad it was helpful! ^Jonny
which would be a better one if you travel frequently in Europe? I have been living in Poland and an avid traveller. Watched your videos but still not able to figure out. Can you please help.
Happy to help :) May I first ask, do you intend on withdrawing money while you travel? And will you be mainly visit countries that have Euros or other European countries with their own currencies? For example the Czech koruna.
@@Monitodotcom Hi,
Thanks for replying. Well, I do not intend to withdraw money until and unless it's absolutely necessary. My main purpose is going to be traveling. Can't really say anything about the places I am going to be visiting. You know bro, it is how it is. Can't really say where I am going to be traveling next. But yeah, this I can say that I will be well within the EU region.
No worries, I appreciate the need for privacy/confidentiality. If ATM withdrawal limits aren't an issue then and the choice depends on how much currency you think you'll require, I'm going to suggest Revolut. With Revolut, each month you could exchange for free (Mon-Fri) 5,000PLN per month to spend in a different currency for traveling. www.revolut.com/en-PL/our-pricing-plans
For example you could exchange PLN to EUR and go spend it without incurring a fee. Even if you need over 5,000PLN you're probably still better off with Revolut, as you'll always incur fees with Wise BUT at least with Revolut Mon-Fri and up to 5,000PLN you won't pay any fees.
Long story short. Revolut, just make sure to exchange currency Mon-Fri.
@@Monitodotcom Thank you so much for the information. That's really helpful. One last question: when we exchange currency, do we incur any charges? Or do we get the real time exchange rate?
For eg., 1 pln is 0.21 euro. So, when I will add money in my Revolut account in euros via my default bank account which would be having currency in Pln, will there be any additional charges for the conversion services?
And by the way bro, I can't tell you the places of visitation not because of the privacy reasons but because my trips are always leisure ones and are impromptu.
Does any of them provide an Italian IBAN?
Hey Mario. I don't think so. As far as I know, the Wise account will provide you with an IBAN originating in Belgium and Revolut Lithuania. ^Jonny
Cheers great video went with wise. Seeing what going on in Ukrainian conflict need other cash on hand.
No problem Tony, they're a great choice! All the best - Jonny
Nice video thank you. I have a Revolut account which I’m very happy with, but I’ll open up a Wise account too, just for the hell of it. I am slightly concerned that opening too many accounts can affect my credit score, but intend to save for the things I want, so it isn’t a major issue.
Hey Tony. Multiple accounts shouldn't harm your credit score in the long-term. You may see a slight dip temporarily but it will return. I have over 20, and have a good score. Although I do have a mortgage and credit cards etc which obviously keep it healthy. Cheers. ^Jonny
@@Monitodotcom thanks for the advise Jonny
Is there a limit as to how much money you can transfer out of your Wise account per day?
Hey Yanni. There may be limits on how much you can transfer out or send but this will vary depending on the currency. This article should hopefully help: wise.com/help/articles/2526719/are-there-limits-to-how-much-i-can-send?origin=related-article-2893492 - Thanks ^Jonny
I was thinking about using revolut as a travel card for my 4 month SEA backpacking trip. If I withdraw an amount of €600 in a month (in dong) with the standard plan, it would only cost me €8 (2% fee on €400). Without additional local atm fees of course.
I won't spend more than a €1000 with this card so sticking with the standard plan seems like a pretty good deal to me because I am only interested in paying and withdrawing money. Or am I missing something?
Hey Simon, you're not missing anything. Your withdrawal calculation is spot on and as long as you remain beneath €1000 and exchange currencies during the week, you won't incur any fees.
If you sign-up with my affiliate link (bit.ly/36SUefP) you'll also get 3 months of Revolut Premium for free which you can cancel at any time. That has unlimited fee-free currency exchange AND gives you €400 of fee-free monthly withdrawals so you would only pay €4/month to withdraw €600. Its definitely worth considering, even just for 3 months of your backpacking trip. Good luck and safe travels! ^Jonny
great video again thank you, I was trying to open a wise account but they are asking for a £45 fee for opening a business bank account where as you said they offer a free multi-currency account, am I missing something ? Thanks
Hiya! If you want to specifically open a business bank account then they do charge a £45 fee, but their personal account is absolutely free, so definitely make sure you're opening a personal account and not a business one ;)
Our affiliate link (go.monito.com/wise?locale=en&RUclips&Video&Wise+vs+Revolut) will take you to their home page, once you are there just click register and you'll be signing up for a free personal account :) Thank you and let me know if you need any more help. ^Jonny
@@Monitodotcom Thank you :)
I already have an N26 card and I'm looking to have a back up. I'm leaning towards Revolut but if I get charged for IBAN top ups into my account, then it's a no go for me. Can you confirm? Thanks for the upload.
I live in the Caribbean so are any of them supported there?
Unfortunately they're not available in the Caribbean :( ^Jonny
That sucks 😌
Indeed, I also had a look to see if there were any similar neobanks in the Caribbean but I can't find any!
You Should do a vid on what’s available for Caribbean people to use for who does jobs from home or might be interested in dropshipping cause PayPal doesn’t work in the Caribbean
I'll do some research :) Cheers for the tip!
Nice video ! I wanted revolut but they don’t let me open a account in Spain with adress here , I will be working in Sweden and they will pay me in Their currency and I will send that money from wise to my Spanish bank in order to not lose to much in. Tax because my bank take me 70€ per the transaction wise is good then ?
Hi! Really helpful video! I'm looking for advice: I will move to the UK and live there, but I will also need to travel to Italy (my homecountry) and possibly other countries for my research activity and therefore spend other currencies than GBP, and also I will need to transfer money to my Italian bank account from time to time. I was wondering which option suits better to my needings in your opinion. Thank you very much! ☺
Hey Lusi! Glad you found the video useful. I think your best option would be Revolut. You could get a GBP and EUR account, so you can deposit EUR from your Italian bank account and then exchange it for GBP to spend while you're in the UK. You'll also get fee-free currency exchange (as long as you do it during the week) which you won't get with Wise.
While travelling to other countries you can easily exchange the GBP for another currency and hold it on your Revolut card and spend it just like a local would, and that doesn't just have to be EUR, you could travel to Prague and exchange GBP or EUR for Czech Koruna and spend that fee-free. I totally recommend Revolut for you :)
Make sure to use our affiliate link as you'll get a €10 free top-up (bit.ly/36SUefP) - Thank you. ^Jonny
@@Monitodotcom thank you very much for your kind reply, this is truly useful!
No problem! Good luck with the move to the UK, and let me know if you have any further questions. ^J
@@Monitodotcom Hello! Sorry to bother again but a question came up in my mind and I can't find answer online. Do you advice opening Revolut account in my homecountry in Italy, and then just receiving my salary in GBP once I will move in the UK, or first waiting to be there? Also considering it could take me some time to find a permanent residence in UK.. But I also know that Revolut regulations may differ from EEA and UK and I won't be able to change my country for residence after opening the account here.. So I'm a bit lost. Thank you very much if you can give me a hint! ☺
Hey no bother at all! I've been asked that question a few times and my advice is that you just go ahead and open the account while you're in Italy. You won't have any trouble continuing to use it in the UK. I've also had this previously confirmed by Revolut. You're very welcome, don't hesitate to ask me any further questions. ^Jonny
Hello there, great video, although I do need a bit of help with choosing still.
I am from Australia and would like to travel to Japan for a whole month. What card would you recommend for me to use? I will be having around $8-9kAUD that I would probably exchange to JPY, and since, from what I have heard, Japan is mostly a cash-based country, I would most likely need to do a decent amount of withdrawals (possibly will withdraw once per week for half the weekly budget).
Some people recommend wish, others Revolut and even some say both (which I do have, but haven't done anything with them yet as I'm still unsure). What do you think?
G'day Davies! No problem I'm happy to help :) As you want to withdraw cash and you will be limited by both Revolut and Wise, then I would suggest using both. That way you could at least take advantage of their fee-free allotments. They'll also be relatively balanced in terms of exchange rate fees, just ensure with Revolut when you do exchange AUD to JPY that you do it during the week. ^Jonny
@@Monitodotcom Which one should I use for which task (like exchanging foreign cash, withdrawal, etc.) for the best value if I have both?
In terms of exchanging foreign cash, I'd suggest Revolut as you will be able to exchange up to 9000 AUD fee-free and at the mid-market rate (more or less).
For withdrawing cash they're both pretty equal. With Revolut you can withdraw up to 350 AUD, after that you'll pay a 2% fee for the withdrawal amount. With Wise, once you exceed 350 AUD you'll pay 1.75% of the withdrawal total and a fee of 1.50AUD per withdrawal. Although from January 1st with Wise you will only pay 1% of the withdrawal amount.
Basically, I'd suggest if you want to withdraw money for free then use both Wise and Revolut and withdraw 350 AUD (that's around 30 JPY) from each.
Also if you do sign up Davies, please consider using our affiliate links in the description box 🙂 Cheers ^Jonny
Love the video!! I'm moving to the UK from Germany for my BA soon and I was wondering which card would be better for spending my money in the UK as well as receiving money transfers from Germany and from a UK employer? Thanks a lot!
Thanks Ayanda, glad you enjoyed the vid! I would suggest going with Revolut. Simply because they're both going to be relatively equal on fees however with Revolut you do get fee-free currency exchange (Monday-Friday) up to £1,000. Any money you exchange beyond the fee-free amount will still incur a fee relatively similar to Wise. Just remember when you receive EUR from Germany, exchange it to GBP during the week to get the best possible deal.
Revolut will also provide you with UK account details that you can give to your UK employer so when you begin receiving money you'll be able to use that before exchanging EUR to GBP.
Hope that helps and if you do decide to open a Revolut account please feel free to support us by using our affiliate link 🙂 bit.ly/36SUefP Thank you and good luck with your BA! ^Jonny
@@Monitodotcom Thanks a lot, Jonny!
No problem!
Hey, first of all thankyou for the informative videos, I just wanted to ask I have family from the UK who's has gone to new york on holiday and is with Barclays current. What i wanted to know is 1, is she being charged when withdrawning cash and spending via her card and 2: What bank should I use to send her some money, i have Barclays everyday card, Starling, revolut, chase, monza and wise. The amount would be under £1000. Thankyou
Hey! No worries, glad you're finding the videos useful :)
Without knowing the full details of her Barclay's current account I can't say for sure, BUT it is very likely Barclay's are charging her high fixed fees and hidden fees in poor exchange rates.
If I was her I would open an account with Starling Bank and use that to spend money in New York or anywhere internationally. Do check out the video I made on travel cards (ruclips.net/video/klZL5JaT3fw/видео.html) or send it to her for more details :) I've time stamped it on when I discuss Starling.
For sending her money just use our comparison engine via www.monito.com - That will tell you who the best option to send money is right now, this is always changing so it's worth checking each time you send money.
I just searched for you, and if you are sending £1000 to the US then apparently Revolut right now is the best option. Especially if you send the money during the week as Revolut don't apply an exchange rate margin AND with the standard free account you'll get £1000 of fee-free transfers each month. Thanks! ^Jonny
Hey there! Just wanted to ask I just arrived to Germany after setting up a fintiba blocked account for my exchange semester. Would Wise be a reliable choice to setup my monthly payout from the blocked account and pay my rent+day to day expenses with their debit card? Seemed much less of a hassle than a traditional German bank but I just wanted to make sure. Thanks!
Hey! For sure, you could just deposit the amount of money required to pay rent and other expenses into your Wise EUR account and that will work like a traditional German bank account. Good luck with the exchange semester, and if you do decide to register with Wise please feel free to use our affiliate link (bit.ly/3pu1eGf) Many thanks. ^Jonny
I will be doing the same thing, did you have any issue with wise?
Hi! Thanks for the informative video! I am travelling throughout Australia for 3 months and I'm debating between using Wise or Revolut. I will probably spend more than 1000 euros per month, so then I'd have to pay additional fees if I do not get Revolut premium. I've read that Australia is pretty easy to get around paying contactless so I'm not expecting to withdraw a lot of money. I'm leaning more towards wise due to the 1000 fee-free limit on revolut and am curious to hear your opinion. Is it worth to pay for Revolut premium?
In either case, i would be transferring money from my Dutch bank account to the other account.
Hey Roxy. Both Revolut and WISE charge relatively similar fees to exchange currencies, so you may be better off with Revolut thanks to their fee-free allotment. Although Revolut does charge extra to exchange currencies(around 1%) during the weekend which WISE does not.
While Premium does cost money, through Monito you can get 3 months of Premium for free, which could be perfect for your trip. You can also cancel at any time before the plan ends so you won't pay anything and you'll get unlimited fee-free currency exchange. Just don't exchange during the weekend :)
Just use our affiliate link (bit.ly/36SUefP) download the app, open an account and within 72 hours of opening make sure to upgrade to Premium. Let me know if you have any problems and make sure to do it close to when you depart on your travels and set a calendar reminder for just before the 3 months are up. All the best :) ^Jonny
You can use curve to lower the fees for atm withdrawal.
Aren't the ATM withdrawal fees practically the same? And Curve Metal only has a fee-free limit of £400/€400. ^Jonny
@@Monitodotcom after a year of usage they will make the limits bigger im on free plan and have 1000£ fee-free daily limit and 14000£ monthly! And have been a client for about 3 years
@@Monitodotcom also the fee free limits dont seem right to me, my friend last year joined and received around 450£ daily limit.
Hi, thankyou for the video! I have a question... My partner and I are Australians, and are travelling to India next month. We are unsure of what to use, we have signed up to Upbank (which is partnered with Wise for international transactions) would you recommend converting our AUD to INR to pay for things while we are there? Upbank said that they convert it automatically through mastercard rates if we pay for things in India, but that when given the chance we should pay in the local currency, which would mean that we dont have to sign up for a wise account as well. Should we stick with this, or get something like revolut/wise as well? Thankyou heaps! We are very confused lol (if it didn't sound like that already haha)
Hey Asha. I would suggest opening a Revolut account, depositing AUD into the account and converting it to INR. Make sure you do this during the week to avoid any weekend fees, and only convert up to $9,000 AUD as that's the Australian Standard account limit for fee-free currency exchange. Obviously, if you need more then that's fine but you will have to pay a very small fee. Once the AUD is converted to INR then you can use your Revolut card to spend or withdraw money in India just like a local would.
If you have any INR left over after your trip then you can just exchange it back to AUD when you return and perhaps the following month if you need more fee-free currency exchange.
Although Mastercard's exchange rates are more or less on par with the rates Revolut use, with Revolut's fee-free currency exchange they will likely be your best option for travelling to India. Hope that helps and if you do decide to sign-up for an account please consider using my affiliate link (bit.ly/36SUefP). ^Jonny
Clear and helpful, thank you! 🙌🏽✨
Glad it was helpful 🙂 ^Jonny
Great video. So complete. Thank you!
No worries Rodrigo, glad you found it useful. ^Jonny
I have a Wise account. At the moment I am in Sri Lanka and I am unable to open a GBP balance on Wise. I just want to know if that becomes possible when I migrate to the UK and have a UK address, bank details and a UK phone number? Also, does it happen automatically when I change the details (address, country and phone number) on the Wise account? Please clarify this for me.
1)With wise do I need a minimum amount of money?
2) can I use the card in Spain?
1) No you can open an account without depositing any money, although to receive the card you may need to pay a small fee (depending where you reside).
2) Yes it works great in Spain :)
Cheers! ^Jonny
@@Monitodotcom thank you so much 😁
No worries Jose! If you do decide to sign-up please use our affiliate link: go.monito.com/wise-multi-currency-account, they’ll know we sent you and it helps support our channel 🙂 Thank you.
Very insightful video! I am seeking some advice for my situation, which I hope you can enlighten me with. I'll be traveling next year for an uncertain time - not having a physical address. After that I will migrate to a south European country (I am Dutch). I will need the account for: withdrawing and spending in local currencies | potentially receiving money for work services maybe during and certainly after travel | Hold savings. I am very curious which one you would advice. Thank you in advance for the time and effort to answer this question!
Hey Flower! I think based on your upcoming situation, both will benefit you greatly! However, I'd suggest Revolut.
With Revolut you will get fee-free currency exchange which you won't with Wise, so for that reason as well I recommend Revolut. Just make sure if you do exchange currencies with Revolut that you do it during the week so you avoid any weekend (very small) fees. With R you would also get access to a lot more features that would be particularly beneficial for frequent travelling. For example, you could, when you're ready, upgrade to their Metal account and benefit from the travel insurance.
Thanks and let me know if you have any questions, and if you do decide to sign up for Revolut please consider using my affiliate link (bit.ly/36SUefP) Thank you :) ^Jonny
Just to understand, for Revolut standard transactions in another currency for payment online or stores/restaurants etc are zero during the week. So it would be possible to get around this by simply converting money on Friday and then paying using that currency account during the weekend. This way there would be no fees. So let's say I go on vacation in Japan and exchange all the money I have budgeted for the trip beforehand, I could go and pay without ever having to worry about extra fees regardless of the day of the week, correct?
With Wise there are never conversion fees, even on weekends, but there is a small commission anyways, while with Revolut there is no an extra commission. With Revolut Premium and Metal, no conversion fee except weekends still?
Are there any transaction fees? Or is there a limit on the number of free transactions i can make per month?
Hey Ana, if you are transacting with a currency that you don't hold in either account then with Wise you will pay very tiny fees, with Revolut Standard you get some fee-free currency exchange before they charge a small fee. In the UK, Revolut Standard accounts get £1,000 of fee-free currency exchange which means you can spend up to that much in a DIFFERENT currency without being charged a fee. With either, if you hold your local currency, let's say GBP then there are no transaction fees. Hope that helps! ^Jonny
Hi, thanks for the great video, it was really informative and helpfull. Which would you recommend if I was running a shop selling to Europeans (I am based in South Africa) and would be receiving foreign currency? I'd like to keep the cash in Forex... Thanks in advance...
Hey, firstly congrats on the business! This is an interesting question, I just have a few questions if that's okay. Is your main residency in South Africa? As the Wise card isn't available in SA and neither is Revolut. Also, is your shop an e-commerce business? ^Jonny
@@Monitodotcom Hi Johnny, the e-commerce shop is based in Switzerland. All shipping would be done exclusively in Switzerland, around Switzerland. My mane residence is in South Africa but I do have access to an address in Switzerland.
Okay excellent. The Wise Multi-Currency account could be great for you to get paid in Euros, however there is a negative interest fee on balances over €15,000 (this is changing to just €3000 in the next few months). This means that if you hold over a certain balance in Euros you will get charged a small fee, which as a business might be an issue for you. The Wise Business account has a greater threshold for this and allows for larger balances in euros, this might be worth checking out for you as it's available in Switzerland (wise.com/gb/business/).
Ultimately I think Wise is the best choice for you and their business account could be a good option too. ^Jonny
I'm an international student in Germany and already have my main account with Sparkasse. But I'm looking for a secondary bank account to do daily spendings. What bank account would you suggest?
Hey Kabir, you can find our full ranking of the best online banking solutions in Europe here www.monito.com/en/wiki/best-online-banks-europe Our recommendation is to open a Revolut account, you can follow our affiliate link to get 3 Months of Revolut Premium for free go.monito.com/revolut ^François
Great content. I'm located in Medellin Columbia. How can I telephone Wise to open an account?
Thanks Mr Smith. You don’t need to phone them you can easily open an account online, just visit our affiliate link (go.monito.com/wise?locale=en&RUclips&Video&Wise+vs+Revolut) and register. It’s really easy :) ^Jonny
Marvelous video! Detailed and understandable! By the way I would like your opinion. I will soon be traveling to the US from a European country and I would like to make most of my purchases by card. Which one is better for me in terms of currency?
Thank you.
Keep up the amazing work!
Hey! Glad you found the video useful. I would recommend Revolut. You could deposit EUR (or whichever currency you use) into your Revolut account and then exchange it on the app for USD when you travel to the US. You would then be able to spend this money just like an American.
Revolut Standard will also give you a monthly €1,000 EUR (or the currency equivalent) of fee-free currency exchange, but after that, you will pay a very small fee. Just remember if you decide to use Revolut, you exchange currencies Monday - Friday and not during the weekend as you will incur a weekend surcharge. Hope that helps and let me know if you have any further questions.
Also if you do decide to sign-up please consider using our affiliate link (bit.ly/36SUefP) which will also give you access to Revolut Premium for free for 3 months. That also has unlimited fee-currency exchange which would be ideal for your trip to the US :) Take care! ^Jonny
@@Monitodotcom Thank you so much!!!
You're welcome! Safe travels! ^J
i live in Spain with wise will they have a UK Iban?
Hey Caroline, yes you'll get a UK IBAN. ^Jonny
I went to sign up for Wise, but stopped. There's an option between personal and business account. I wanted to have an account/card for travel but also receiving payment in different currencies as a freelancer.
Wise support is telling me I need to apply for the business account and will only be approved if I'm a registered business (even though I'm a freelancer, I'm not a registered business .
I don't know if Wise Personal Account would be suitable?
Hey Impure! May I ask which country you're based in? ^Jonny
@@Monitodotcom hi! I'm in the UK.
Okay cool! Why don't you consider opening a Revolut account and then getting their Revolut Pro account?
This is for freelancers with Revolut accounts that don't want to open a Revolut business account and instead just want some business features within the standard personal account. I made a short about it: ruclips.net/user/shortscxmfz2qme9E
You get some great cash back with it and it has an invoicing template. Let me know your thoughts and if you do decide to sign-up please consider using my affiliate link :) bit.ly/36SUefP ^Jonny
@@Monitodotcom oh I didn't know about Pro, I only saw Plus and Premium. Thanks, will check it out
It is a new feature they introduced a few months after I made this video. It is free with Revolut Standard and available for freelancers. I opened one myself, you get a separate card that you can use for business expenses that earns cashback :) It's really good!
Great video. Does Revolut work in Nigeria?
Yes you could use Revolut to spend money in Nigeria, as long as the vendor/ATM accepts VISA or Mastercard.
Wise is Wiser ! Thank you!
Thanks West Wei 🙌
Can you please talk about multi currency(forex) prepaid cards sometimes
Hey Ugira! I am actually currently working on a video about why I don't think they're that useful in 2023. ^Jonny
Hey, can you please tell me which will be better for me I am a student in India soon will be going to czech republic so I have to pay accommodation fee and tution fee and other fees to czech krone or euros from India ?
Hey Tanishq, it will depend on how you plan to pay your tuition and accommodation, but I think it's definitely worth checking out Niyo a neobank from India who I recently reviewed (ruclips.net/video/nZYK_S60FtM/видео.html). Their Niyo Global card could be a great choice for you and for paying your fees and living in Czech Republic. ^Jonny
Hey jhonny,
I am starting my studies in germany soon and want to have an account through which I can transfer money to and from germany and India (my home country) although these transaction won't be frequent maybe once or twice every six months. I'll also have a study abroad term outside germany so what card would be best for this situation? (Also I would like to mention account will be opened after I arrive in germany)
Hey Vats! I think for your situation Revolut would be the best, in terms of traveling and for making one or two exchanges. I'm assuming you'll top-up the card with INR? If so ensure you exchange INR to EUR during the week-day to get the best possible deal.
Obviously Revolut isn't available in India so when you open the account you'll need your German address and telephone number. Will you be able to provide these?
@@Monitodotcom yeah I plan to open the account after I arrive in Germany. So I will have a German address and phone number. Also love your videos!!
Perfect Vats, you will be grand then. Let me know if you need anything or have any questions and good luck with the studies!
Hey! Quick question :) We live in Sweden and are just about to start our journey into the property side. That means both buy and sell in the UK.
We were told to check these two different options. Which would you suggest ?
One - if so Wise or Revolut or should we go with both of them for different purposes?
Pls get back asap :)
Hey Danne. To clarify, are you living in Sweden but moving to the UK? And selling a home in the UK also? Would the purpose of joining Wise or Revolut be to handle the currency exchange between SEK and GBP? ^Jonny
Yeah we live in Sweden and we are about to do some business in the UK.
The currency is one of the reasons, yes, but we also need to work fast with our business deals and sometimes have funding in a standby position for a purchase
Is it possible to reach out to you directly ?
Of course, reach out to me via e-mail jonny@monito.com and I'll try to assist.
I think that Revolut is better for you because they are more strong bank and very secure ❤
A very informative video
Thanks Obi, glad you liked it 😊
Hi, I'm from Poland. I have USD on Wise and I wanted to send it to my USD currency account at my bank in Poland. I used SWIFT option with my address etc. but each time I send it, the money come back to Wise (after 2 days). I don't know how it fix it. From my bank side I do everything okey - the right IBAN/ account number and SWIFT. Has anyone had a similar problem?
Hey! Have you checked with your bank? I actually have had similar comments and it has been because some banks don't see Wise as a trusted bank. ^Jonny
Great video with loads of information. I’m stuck on which card to pick. I go on holiday at list twice a year and need a card to use that minimise the amount I carry as cash. Therefore I want to withdraw money to the country I will travel too. However Revolt has other benefits like travel insurance etc I’m stuck please helppp lol. By the way I’m going to Kenya so I will try experience the card you recommend thank you in advance
Hey Christian! May I first ask which country you're from? My initial feeling for you is Revolut. You'll get an amount of fee-free currency exchange which Wise doesn't offer, but also with Revolut you could upgrade to Metal and benefit from unlimited currency exchange AND their numerous travel insurances.
@@Monitodotcom thank you taking the time to reply. I’m from the UK
Okay great, definitely sign up for Revolut, I'm sure you won't regret it. When you travel to Kenya you can just deposit GBP into your account and then exchange it for Kenyan shilling so it is ready to be spent. It is so easy! Just remember, when you exchange currencies with Revolut that you do it during the week so you don't get charged a weekend fee.
If you do sign-up please consider using my affiliate link (bit.ly/36SUefP) - You'll also get £10 for free :) Cheers!
Very good video. I have a question - I live in EU and have set up my Revolut with Euro and USD accounts, if I transfer $2500 to my USD account can I use my Revolut card in the US without incurring more charges?
Yes absolutely, if you have USD deposited in your Revolut account then you can spend it fee-free in the US.
If i want to transfer 50.000 euros to philippine pesos.
What would be my best option please?
I am with Revolut but i dont think they operate in the philippines.
Even if they do i think there is a limit to how much i can send.
Hey! The nest thing to do would be to check www.monito.com - You can put in your exact transfer details and we'll tell you who the cheapest, fastest and best provider will be. It is super easy to do and won't take a minute. Let me know if you have any further questions. ^Jonny
Hiya!
I receive payments from companies in Euro And USD for services rendered.
And I wish to transfer to my bank account in Pakistan as soon as they arrive in the Revolut or Wise account.
However, Pakistan law is not friendly towards crypto accounts and Online Wallets/Fintech that are not actual banks.
So there is a possibility that I might be challenged on this.
So when I transfer from Revolut or Wise account, what will it show up? Will show up as a normal bank account or as Revolut or Wise?
Thanks
Hi Afrado. I wasn't sure so I sent money from both my Wise and Revolut accounts to my personal bank account in the UK. In my statement, they just appeared as saying they were from me. When I clicked on the transaction details within my app it did say both company names. I'm sorry but I cannot be sure if it will entirely appear or not. ^Jonny
So, If I am from the US, but working remote in the Italy. And I only need occasional ATM withdrawals (due to the fact that Europe is still in the dark ages and most restaurants want me to pay in cash), do I keep just a few hundred dollars/pounds/euro in my Wise/Revolut account, and then transfer more from my US bank if needed ? Or are these accounts meant to be used as full fledged checking/debit accounts ?
Hey Sir! You're like me, I occasionally withdraw just to ensure I have a small bit of currency on me. In your case I'd say yes, keep a few hundred dollars in your Wise/Revolut account and when you need it transfer more. Just ensure you do top up via bank transfer as you won't incur fees that way, otherwise if you top up via debit/credit card you will incur fees. Cheers - Jonny
You seem to be chosing restaurants that are trying to avoid paying tax. Be careful, if you cannot produce your receipt Italian police can charge you.
@@gordondavies7773 so many places in Europe prefer cash, and yes they are probably avoiding tax.
That depends on the region. In northern Europe, especially Scandinavia, it's all plastic and apps. In the more touristy parts, they always deal only with cash, especially with foreigners.
@@gordondavies7773 I would find it funny and ironic if the police would actually care more about taxes than the many tourist scammers and traps that is infested Italy.
Super video! I want to transfer 30k USD to the UK from the US to pay for my daughter's UK tution, and the exchange rate is great right now. I dont want to use the money other than to pay 10k tuition/year for the next three years. Any preference? Wise or Revolut? Thanks! (i could also move the money to a uk account once the initial transfer is complete)
Hey Elizabeth! Now is definitely a good time to make that transfer, lucky you! It's the total opposite for me being from the UK 😂 So I checked our comparison engine (www.monito.com/en/compare/transfer/us/gb/usd/gbp/30000) and Wise does currently have the best deal for your transfer. Just to check, are you sending the money directly to the school or a UK bank account to then pay the school with the funds? Thanks ^Jonny
@@Monitodotcom I have the money in a special US federal college-savings account (which is actually losing money right now). I thought to move the 30k from this savings account to a us bank account, then to wise, then sit in Barclays UK account. Is that how is works? Or do I just keep the lump of money in the wise account and transfer tuition directly to the UK uni? So like this: US federal college savings account ➡US bank acount ➡wise➡UK bank account➡UK University
Thanks for the detail Elizabeth. You can send money with Wise to any UK bank account, just like you would with Barclays.
I suggest you open a Wise account and deposit the USD into that account. When you are ready you could then change that USD to GBP, and send the GBP from your Wise account to the UK university. ^Jonny
Does revolut have cash holding limits like Wise? For example, >$23 000 AUD incurs a 1.6% annual fee... does Revolut have this?
Hey Dean, I'm assuming you're from Australia? ^Jonny
Hey Dean, jumping back in as I just spoke to my guy at Revolut for you and I think this is generic across all countries.
Apparently, there is no maximum amount of money you can transfer to your account, and *there are also no holding fees* . Although they may ask for confirmation of the source of your funds, I suppose that's a security issue and of course, doesn't impact your question but I thought it was important to note.
In a nutshell mate, I don't think there are any fees for holding AUD :) Hope that helps and if you do sign-up then please consider using my affiliate link (bit.ly/36SUefP) you'll also get 3 months of Premium for free.
@@Monitodotcom appreciate the speedy reply. Thats a big win for Revolut over wise!
No worries.
AMAZING video 1 question, I’m deciding in between those 2 to use it as a normal banking, do my payment’s etc ( I live in Switzerland 🇨🇭) so which one you recommend?
BTW I almost never use cash but I will be paying all groceries and basic needs with this account too 👍
Hey Knil! I think given you just want to use it for day-to-day banking choose pick Revolut as it provides greater functionality. They'll both be pretty similar in terms of fees, which will basically be zero for you. But with Revolut you'll get more practical banking and other tools within the app. ^Jonny
I planing to move to New Zealand next month from Ireland.for the initial expense in New Zealand is wise card or Revolut card is more beneficial.plz suggest
Good morning Ruby. I would suggest going with Revolut. You'll receive €1,000 of fee-free currency exchange, which means you can exchange EUR to NZD fee-free for up to €1,000 (Wise does not have any fee-free allotment). Just remember to avoid exchanging EUR to NZD during the weekend as Revolut will charge a minimal fee, regardless of your fee-free currency allotment.
Revolut is also a licensed bank in Ireland and Wise isn't, this comes with its benefits, such as deposit insurance.
Hope this helps you make your decision and if you do decide to register for Revolut, please consider using our affiliate link (bit.ly/36SUefP) It will also provide you with 3 months of free Revolut Premium which has unlimited fee-free currency exchange :) You can also cancel at any time before the 3 months end. Thanks! ^Jonny
@@Monitodotcom thank you
You’re welcome Ruby.
Hope all goes well with the move.^
Hi, you made an excellent video, thank you. I would like to know when I travel to Dubai next month and exchange £1000 this month and another £1000 next month, would I able to spend £2000 worth of AED in September. I am trying to understand because there is a limit of £1000 each month. Please clarify this question. I appreciate your help in this matter. 🙂
Hey! The limit is how much you can exchange fee-free, you can exchange more than £1000 if you require (although you'll get pay a small fee) and you would absolutely be able to spend the £2000.
Just make sure when you do exchange the £1000 this month and next that you do it Monday - Friday. Thanks :) ^Jonny
I just sent 2600 GBP to Germany through wise but it hasn't arrived, how long does it take?
What method did you choose to send the money? And where are you sending it from? ^Jonny
@@Monitodotcom I sent it from London and from my bank transfer But it hasn't arrived as they said it was instant
Has it arrived Elias? With that transfer route and type it should have been instant. ^Jonny
@@Monitodotcom I found out my bank hasn't authorized the payment yet to my Wise account
@@Monitodotcom yeah it has arrived
Hi! Thank you for this great video! I live in Australia and I’m travelling to Argentina and Uruguay. I will need to withdraw in US once I’m there. Which one you recommend me to go with ? Thank you so much !
Hey Martina. You're welcome, glad you found the video useful. Will you be withdrawing a large amount of money AND how long do you intend to be travelling for? ^Jonny
@@Monitodotcom Hi! I will need to convert from Aud to USD and withdraw around 500usd a week for 3 weeks!
Thank you!!
Since publishing this video the fees for both Revolut and Wise have changed, and when it comes to ATM withdrawals they're both practically the same.
They offer 350 AUD (roughly 245 USD) for free each month and after that, you pay a 2% fee. This means you will be charged a fee of 2% for withdrawing $1,255, so around $25.
While this fee will be roughly the same for either provider, Wise will also charge you a small fee to exchange the currencies from AUD, while with Revolut you will get an amount of fee-free currency exchange that comes with the account that you can use. *With that in mind, I would recommend Revolut.*
If you wanted to, you could also use our affiliate link to sign-up (bit.ly/36SUefP) which will give you 3 months of Revolut Premium for free (make sure to upgrade within 3 days of opening your account).
Revolut Premium has $700 of fee-free ATM withdrawals so in total you will only pay 2% on $555 which is $11. Just make sure to downgrade the account from Premium before the 3 months is over to ensure you don't pay for the account. ALSO when you do withdraw money make sure the ATM is free to use (bank ATMs are usually the best choice AND you decline the conversion at the ATM and let Revolut take care of the currency exchange. Hope that helps and let me know if you have any further questions. ^Jonny
I’ll be travelling to uk for studies from Malaysia
I’m in a huge dilemma on which card to choose :/
Would appreciate your opinion on which I should choose if I were to receive and send money to and fro home frequently :)
Hi Eunice. I think for you the Wise card would be ideal. You can open it from Malaysia and receive your card before travelling to the UK, and top it up with Malaysian Ringgit & exchange to GBP. Remember if you withdraw more than £200/month there's a small fee so try to keep your cash withdrawals to a minimum.
Here in the UK you shouldn't really need cash anyway. Let me know if you have any further questions and please feel free to use our affiliate link to support us :) bit.ly/3pu1eGf - Thanks ^Jonny
Another helpful vid, great job!
You’re welcome Libby 😊
Which is better for buying cryto
I would suspect Revolut, I believe they’re more crypto friendly - especially because you can buy and sell through their platform (although the fees are relatively high compared to others). ^Jonny
Hello! Loved the video, but still a bit confused, soon I am going to Brazil for quite some time, and opening a bankaccount isn't easy. So I would like to send money (euro) and would like to use it also on daily basis for my expenses.
Hey Vanessa, with Wise being available in Brazil I think they would be your best option. May I ask where you are currently based? ^Jonny
@@Monitodotcom currently still in Belgium, and i saw that Brazil is going to have the possibility to open an revolut for Brazilians in November ( world cup)☺️
That's interesting about Brazil - thanks for the info! I would still suggest opening a Wise account, EUR to BRL with Wise will be relatively competitive, although Revolut may be better if you're within their fee-free currency exchange allotment AND exchange during the weekday.
As you have plenty of time before November do keep an eye on exchange rates as you may want to make the exchange ahead of time to try and get a better rate :) ^Jonny P.S If you do sign up for Wise please do use our affiliate link :) bit.ly/3pu1eGf
On one RUclips video someone said that if Wise decides, for any reason, to close your account you won’t get your money back. That is quite disturbing , just the thought that it MIGHT happen is intimidating. I am not sure how to take his comment, he seemed serious and like he knows what he was talking about.
Revolut card are neat
Wait till you see the metal one 😉
@@Monitodotcom I have the gold plated card 😁
I'm from Europe and I'll go to Indonesia six months to study. What do you think is better? I also heard about ewallet
Hey Sara, may I ask where in Europe? ^Jonny
@@Monitodotcom Italy
Great, thanks Sara. I'd suggest going with Revolut.
While both are relatively similar in terms of fees, you will get a monthly fee-free allotment of €1000 which you won't get with Wise. This means you can deposit EUR into your account and then exchange up to this amount for Indonesian Rupiah for free.
You'll also receive a great exchange rate, but MAKE SURE to exchange during the week (Monday-Friday), if not you'll be charged a fee. Let me know if you have any further questions, and if you do sign up please consider using our affiliate link to support us (bit.ly/36SUefP). Grazie ^Jonny
@@Monitodotcom Hey! Thank you for your answer! I was wondering if you know if also know starling bank! I heard of that option too
Just replied to you over on the other video Sara.
buddy you got a great pleasing smile....
Thanks Forhad 😄 ^Jonny
Thank you for the informative video! I'll be heading to Ireland for a semester exchange from Singapore and was wondering which company would be better? I'm planning to use card instead of cash (unless I have to). My main concern would be receiving money from Singapore, and which card would be best for frequent SGD --> Euro transfers? Also, is there a limit as to how much currency I am able to hold in the wallet? Much thanks
Hey Cammie! I'd suggest you get yourself the Wise card (bit.ly/3pu1eGf). It is available to residents of Singapore and you'll be able to deposit SGD into the account or receive money from Singapore and exchange it for EUR with ease and there aren't any limits on how much you can hold :) ^Jonny
P.S If you do decide to register with Wise please consider using my affiliate link: bit.ly/3pu1eGf - Thank you.
@@Monitodotcom Thanks for the prompt response, and will definitely make use of the link when I register!
Thank you Cammie. Do let me know if you ever have any further questions and all the best with the exchange.
Wise are either a scam either maniac. They will verify you 3 times a year and if you're tourist traveling in different countries and no proof of income older than 90 days you cannot use Wise! They block your transfer maybe also your account Wise not reliable! I have 3 years old account in Wise
Hey! We are traveling from Toronto to London in August. I have started an account and I am about to order a card. The total shows $30.06 CAN. Is that what I am paying for the debt card? Or is it money that will be going into my WISE account? I hope I wouldn't be paying $30 to order a card. Please advise. Thank you
Hey Rhonda! That's very strange, I believe the card in Canada is free (wise.com/ca/pricing/card-fees?sourceAmount=1000&sourceCcy=GBP&targetCcy=CAD). Did you attempt to deposit any funds into the account? ^Jonny