Like the way you appreciate the transparency on the websites of this 2 big players, I like the transparency of how you explain things and how you put it in with your real world usage. I am actually using the combination of Revolut Metal and recently Trace Republic card. In my opinion, definitely, the best players in the matter these days! Congrats on again for one more great lesson...
Great video! Thanks. What about large amount > 30,000 euro international transfers using a paid plan with Revolut. Would you advise on either? Also There are lots of reviews saying the money vanishes or is delayed, etc using Revolut. Any advice about what’s the best option?
Hi Carla thanks a lot and both of them would be perfectly fine for larger amount, but in this case you would be much cheaper on the Revolut Ultra plan as they will waive the fee for it which would be rather large on Wise. I've used Revolut for many years and never had money disappearing, that sounds very questionable to be honest for such an institution like them 😉 So yeah, Revolut Ultra could be great for you if you also use the other benefits it offers 👌 Cheers
Hi Kai, how do you spend different currencies on revolut? I was thinking to create an account and convert that currency before traveling. Now, it seems that I get only one card. Is there a way to garuntee that I am using the correct currency?
Hi and yes, you only get one card but can have different currency accounts. So you could either exchange the currency you have to the one of the country you are travelling to to lock in a good rate and avoid the weekend surcharge. Then when you are there it will only use that currency not your home currency. If you don't convert, it will convert at the best possible price in the moment which is very good exchange rate, that's what I normally do, just don't use it on the weekend as they charge 1% fee. Cheers
Hi Kai. Thank you for your videos. What about sending and exchange money between two revolt accounts? E.g exchanging US dollars from one Revolute account to Euro to another Revolute account?
Hi Bjorn, my pleasure and do you mean your own Revolut account? The same FX logic will apply. If you send it to another Revolut user there won't be any transfer fees, only the FX fee 👌 Cheers
I'm using the free plan of both and use them as addons to my traditional bank. For me Wise has more added value because of the better intrest rate on the free plan (3.67% vs 3.09% APY on €). I also enjoy their very fast transaction speeds and the ability to easily get money into IBKR. 😀 If I wouldn't use a traditional bank Revolut would probably take its place. 😉
Thanks a lot for sharing and these are some great insights. Sadly I don't have access to wise savings in my country, but that makes perfect sense and is a fantastic benefit without having to pay anything for it so yes, love your arrangement there and you are right, speed of execution and seamless integration with IBKR is another big plus for Wise 👌 Cheers
My experience with Wise is that exchanging money on the weekend usually means I receive the exchanged money immediately on my European bank account. Even though they say to expect the money on the next business day or so, the longest I have waited was a couple of hours. I use a specific Brazilian transaction where the transaction number is tracked and the whole process is automated and it usually arrives in literally seconds, because there is no need for human interaction.
Are you based on Brazil? Do you use it for getting paid abroad? How are you dealing with the taxation stuff in Brazil? Mind to share your experience please?
Amazing video as always! I use both as Revolut has no option to convert to several currencies. The trade republic card might also be handy as they don’t charge any conversion rate when shopping worldwide. Keep up with the amazing job! Waiting for more lifestyle videos from the amazing Dubai
Hi David👋 Thanks for the kind words and feedback 🙌 It's great to hear you're making the most out of Revolut and Trade Republic for your currency needs - smart moves! 🌍💡 More Dubai lifestyle videos are definitely on the way, so stay tuned. Cheers
Hi, im travelling from uk to Pakistan by road,i need a card to pay for fuel,food, tolls and hotels through out Europe, turkey and into Pakistan. Which card will be better and hassle free to use, please advise. Thanks
Even with ultra plan card Revolut not alloud user to top up with credit card but only with debit card also they push people to use card not only to receive and send money but there is no benefice to spend money with them because no miles are earned with Revolut btw
Hi and thanks for sharing, not sure I follow 100% but yes, topping up with credit card will always incur a few, but that's understandable given that the bank and credit card companies take a hefty fee already so if Revolut was to compensate you for that, this would not be a very profitable business venture. As for miles, I will soon make a video on that, but you do get miles on your Ultra card from my understanding, still I prefer using my Ultra card with my Revolut Pro card, that way I get 1.2% cashback on all my transactions and I prefer FIAT cashback to miles. Plus the big benefit of Ultra as shown in the video, in some cases one big transfer alone can already be enough savings to pay for the Revolut Ultra plan. Plus of course all the other perks like VPN, Airport lounge etc, but of course, this may not be suitable to all and comparing both free plans, Wise definitely might be the winner, but I think in this case, no harm to own both given they are both free. Cheers
@@SmartMoneywithKai thanks for these clarifications one point for Revolut ultra is that with lounge pass there is no restrictions to use exept when go inside one lounge need wait 3 hours to be able to go in a new one lounge with Revolut dragon pass priority pass alloud only one entry per day
My pleasure. Do you mean to go in the same lounge twice? This might be, though I never had anyone could the hours I was in the lounge so if I had to wait 4 hours, I would just stay there and not leave, I don't think receptionists keep a track of all the people there 😉 You can however use the lounge multiple times a day but should be different. I flew once and used 3 different lounges in one day, I definitely got a good return on my card investment 😂
@@SmartMoneywithKai yes Kai i m talking about if using different lounge in same aéroport and if of course if the transit is enough long by this way is a good investment !!!
Indeed, though it's more for exchanging with the intention to invest as otherwise it's buy far less practical to send money there, exchange send it back and then transfer elsewhere. Plus for smaller amounts less than 1K it the USD 2 conversion fee makes it actually less attractive and recently even the FX rate was on par if not slightly less than what Wise gave me in a few cases. Cheers
Hi and sounds nice though not sure that's correct. I am still being charged the 1% every time even on my Ultra plan, just checked, last weekend the same, and it clearly mentions that on their website www.revolut.com/our-pricing-plans/ I think they would be first to announce that and remove it from the page if it was true. Hopefully soon, would be great 🤞
@@SmartMoneywithKai Kai, they have removed the weekend fees in some regions. I got the message in my Revolut inbox on the 17 April. Have even tried to exchange in the weekend and no fees was charged.
@@SmartMoneywithKai yeah I got an in-app message saying that they don't charge weekend fees anymore. I am on Ultra as well so no idea if that is only for Ultra or not. but it is GREAT! :D
Hi and to be honest that's pretty common, most apps will do that, they might give you an initial free threshold but charge you after that as they need to pass on the costs the debit/credit card companies charge them for that so it's understandable. That's why I always recommend to do a bank transfer 👌
Hi and Revolut does show the charge if it's on the weekend or it's over your monthly FX allowance though on most paid plan you have no monthly limit i.e. no fees while Wise does charge a fee. Cheers
In what way do you mean that? Actually they keep innovating and coming up with new features all the time. Not everything is perfect but they are definitely pushing forward which is nice to see.
@@SmartMoneywithKai Whatever feature you need, you can find another with a free tier that offers more competitive solution. exchange rates:wise Interest rates: trading212 ETFs etc: IB or even light year
Sure and for stock trading for sure I also never recommend Revolut, the rest are quite different things as I see Revolut more as my daily bank on the go with benefits and again in my case the Ulra plan easily pays for itself and more but sure, some great alternatives out there for sure. That's the beauty of it, more competition pushes each player to do better 👌
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Like the way you appreciate the transparency on the websites of this 2 big players, I like the transparency of how you explain things and how you put it in with your real world usage. I am actually using the combination of Revolut Metal and recently Trace Republic card. In my opinion, definitely, the best players in the matter these days! Congrats on again for one more great lesson...
Thanks a lot Pedro, I really appreciate that 🙏 Cheers my friend
Great video! Thanks. What about large amount > 30,000 euro international transfers using a paid plan with Revolut. Would you advise on either? Also There are lots of reviews saying the money vanishes or is delayed, etc using Revolut. Any advice about what’s the best option?
Hi Carla thanks a lot and both of them would be perfectly fine for larger amount, but in this case you would be much cheaper on the Revolut Ultra plan as they will waive the fee for it which would be rather large on Wise. I've used Revolut for many years and never had money disappearing, that sounds very questionable to be honest for such an institution like them 😉 So yeah, Revolut Ultra could be great for you if you also use the other benefits it offers 👌 Cheers
Hi Kai, how do you spend different currencies on revolut?
I was thinking to create an account and convert that currency before traveling.
Now, it seems that I get only one card. Is there a way to garuntee that I am using the correct currency?
Hi and yes, you only get one card but can have different currency accounts. So you could either exchange the currency you have to the one of the country you are travelling to to lock in a good rate and avoid the weekend surcharge. Then when you are there it will only use that currency not your home currency. If you don't convert, it will convert at the best possible price in the moment which is very good exchange rate, that's what I normally do, just don't use it on the weekend as they charge 1% fee. Cheers
@@SmartMoneywithKai thank you for the clarification 😊
Hi Kai. Thank you for your videos. What about sending and exchange money between two revolt accounts? E.g exchanging US dollars from one Revolute account to Euro to another Revolute account?
Hi Bjorn, my pleasure and do you mean your own Revolut account? The same FX logic will apply. If you send it to another Revolut user there won't be any transfer fees, only the FX fee 👌 Cheers
I'm using the free plan of both and use them as addons to my traditional bank. For me Wise has more added value because of the better intrest rate on the free plan (3.67% vs 3.09% APY on €). I also enjoy their very fast transaction speeds and the ability to easily get money into IBKR. 😀 If I wouldn't use a traditional bank Revolut would probably take its place. 😉
Thanks a lot for sharing and these are some great insights. Sadly I don't have access to wise savings in my country, but that makes perfect sense and is a fantastic benefit without having to pay anything for it so yes, love your arrangement there and you are right, speed of execution and seamless integration with IBKR is another big plus for Wise 👌 Cheers
My experience with Wise is that exchanging money on the weekend usually means I receive the exchanged money immediately on my European bank account. Even though they say to expect the money on the next business day or so, the longest I have waited was a couple of hours. I use a specific Brazilian transaction where the transaction number is tracked and the whole process is automated and it usually arrives in literally seconds, because there is no need for human interaction.
Amazing to hear and thanks for sharing, that's great 👌 Cheers
Are you based on Brazil? Do you use it for getting paid abroad? How are you dealing with the taxation stuff in Brazil? Mind to share your experience please?
@@alejavy3000 im not based in Brazil atm. Sorry
Amazing video as always! I use both as Revolut has no option to convert to several currencies. The trade republic card might also be handy as they don’t charge any conversion rate when shopping worldwide. Keep up with the amazing job! Waiting for more lifestyle videos from the amazing Dubai
Hi David👋
Thanks for the kind words and feedback 🙌 It's great to hear you're making the most out of Revolut and Trade Republic for your currency needs - smart moves! 🌍💡 More Dubai lifestyle videos are definitely on the way, so stay tuned. Cheers
Can I send money from Revolut to Wise and from Wise to Revolut?
Yes, absolutely ✅
Hi, im travelling from uk to Pakistan by road,i need a card to pay for fuel,food, tolls and hotels through out Europe, turkey and into Pakistan. Which card will be better and hassle free to use, please advise. Thanks
Hi, if you can get Revolut, go with that 👌
would be great to see how these stack up against the Schwab Debit card
Hi, good idea, sadly I do not have access to Schwab Debit card, but looks very attractive indeed 👌
@@SmartMoneywithKai Bummer! It's definitely a good one!
Even with ultra plan card Revolut not alloud user to top up with credit card but only with debit card also they push people to use card not only to receive and send money but there is no benefice to spend money with them because no miles are earned with Revolut btw
Hi and thanks for sharing, not sure I follow 100% but yes, topping up with credit card will always incur a few, but that's understandable given that the bank and credit card companies take a hefty fee already so if Revolut was to compensate you for that, this would not be a very profitable business venture. As for miles, I will soon make a video on that, but you do get miles on your Ultra card from my understanding, still I prefer using my Ultra card with my Revolut Pro card, that way I get 1.2% cashback on all my transactions and I prefer FIAT cashback to miles. Plus the big benefit of Ultra as shown in the video, in some cases one big transfer alone can already be enough savings to pay for the Revolut Ultra plan. Plus of course all the other perks like VPN, Airport lounge etc, but of course, this may not be suitable to all and comparing both free plans, Wise definitely might be the winner, but I think in this case, no harm to own both given they are both free. Cheers
@@SmartMoneywithKai thanks for these clarifications one point for Revolut ultra is that with lounge pass there is no restrictions to use exept when go inside one lounge need wait 3 hours to be able to go in a new one lounge with Revolut dragon pass
priority pass alloud only one entry per day
My pleasure. Do you mean to go in the same lounge twice? This might be, though I never had anyone could the hours I was in the lounge so if I had to wait 4 hours, I would just stay there and not leave, I don't think receptionists keep a track of all the people there 😉 You can however use the lounge multiple times a day but should be different. I flew once and used 3 different lounges in one day, I definitely got a good return on my card investment 😂
@@SmartMoneywithKai yes Kai i m talking about if using different lounge in same aéroport and if of course if the transit is enough long by this way is a good investment !!!
Interactive brokers is the best also for exchange
Indeed, though it's more for exchanging with the intention to invest as otherwise it's buy far less practical to send money there, exchange send it back and then transfer elsewhere. Plus for smaller amounts less than 1K it the USD 2 conversion fee makes it actually less attractive and recently even the FX rate was on par if not slightly less than what Wise gave me in a few cases. Cheers
Revolut doesn't have weekend fees anymore, I exchange stuff on the weekend all the time
Hi and sounds nice though not sure that's correct. I am still being charged the 1% every time even on my Ultra plan, just checked, last weekend the same, and it clearly mentions that on their website www.revolut.com/our-pricing-plans/ I think they would be first to announce that and remove it from the page if it was true. Hopefully soon, would be great 🤞
@@SmartMoneywithKai Kai, they have removed the weekend fees in some regions. I got the message in my Revolut inbox on the 17 April. Have even tried to exchange in the weekend and no fees was charged.
Oh wow, that's awesome, never heard about it but hope it will come to my region too. That would be a game-changer 👌 Thanks for sharing 🙌
@@SmartMoneywithKai yeah I got an in-app message saying that they don't charge weekend fees anymore. I am on Ultra as well so no idea if that is only for Ultra or not. but it is GREAT! :D
wise charges you when you add money to your account with apple pay or debit card
Hi and to be honest that's pretty common, most apps will do that, they might give you an initial free threshold but charge you after that as they need to pass on the costs the debit/credit card companies charge them for that so it's understandable. That's why I always recommend to do a bank transfer 👌
Wise charges you to convert but Revolut doesn’t show a charge to convert to a currency
Hi and Revolut does show the charge if it's on the weekend or it's over your monthly FX allowance though on most paid plan you have no monthly limit i.e. no fees while Wise does charge a fee. Cheers
Revolut has lost its edge long ago
In what way do you mean that? Actually they keep innovating and coming up with new features all the time. Not everything is perfect but they are definitely pushing forward which is nice to see.
@@SmartMoneywithKai Whatever feature you need, you can find another with a free tier that offers more competitive solution.
exchange rates:wise
Interest rates: trading212
ETFs etc: IB or even light year
Sure and for stock trading for sure I also never recommend Revolut, the rest are quite different things as I see Revolut more as my daily bank on the go with benefits and again in my case the Ulra plan easily pays for itself and more but sure, some great alternatives out there for sure. That's the beauty of it, more competition pushes each player to do better 👌