Home Financial Transfer How to Transfer from Wise to Revolut – Fees Included [2023 Guide]
Financial Transfer

How to Transfer from Wise to Revolut – Fees Included [2023 Guide]

Wise to Revolut

For real, you can send money from Wise to Revolut. Both of these platforms offer international accounts that support multiple currencies and even provide you with payment cards. Maybe you already have accounts with both and are scratching your head, wondering how to transfer funds from Wise to Revolut or vice versa. Do not worry, this guide will help you complete the process. You will also learn about the fees to expect as well as how long it takes to receive funds.

Key Takeaways

  • Transferring money between Wise and Revolut is simple and offers multiple methods like using a Wise card, local bank transfer, or SWIFT for international transfers.
  • Both Wise and Revolut are not fully regulated banks in the UK, but they are overseen by the Financial Conduct Authority.
  • Fees for transferring money vary based on factors like currency and payment method, and Wise provides an online calculator to check current rates.

Wise and Revolut at a Glance

Wise, formerly known as Transferwise, has been in the money transfer game for about ten years. They offer an app and a website where you can manage your money, and they even give you a debit card. You can use Wise for both personal and business needs.

On the other hand, Revolut started in 2015 with just a prepaid card and an app for making payments. They’ve grown a lot since then and now offer a variety of banking and payment services that are great for people who travel or live internationally.

Both Wise and Revolut are overseen by the Financial Conduct Authority, which means they follow certain rules. However, it’s worth mentioning that neither of them is a fully regulated bank in the UK. This means that if something goes wrong, your money won’t be covered by the Financial Services Compensation Scheme.

Can You Transfer from Wise to Revolut?

Yes, you can move money from your Wise account to your Revolut account in various ways. Revolut allows you to get payments in as many as 27 different currencies. However, the specific currencies you can receive might vary based on your account settings.

To shift funds from Wise to Revolut, you have multiple options. You can use a Wise card, make a local bank transfer, or even use SWIFT for international transfers. The method you choose will depend on the currency you’re working with.

Wise to Revolut Transfer: Step by Step

Wise to Revolut

You have two main options – you can either use your existing Wise balance or fund the transfer from your bank account or card. Here’s how to do it:

1. Get Revolut Account Details

  1. Open your Revolut app and click on + Add Money.
  2. Choose the currency you want the money in.
  3. Tap on Change, followed by Regular Bank Transfer.
  4. A new page will appear showing your local and SWIFT transfer details.
  5. If you need intermediary bank details like SWIFT/BIC and routing numbers, you can find them in Revolut’s online and in-app help center.

2. Send Money Using Wise to Revolut Balance

  1. Open your Wise app and click on Send money.
  2. Type in the amount and the currency you wish to send.
  3. For the payment method, select Wise account transfer.
  4. Input the Revolut local or SWIFT details you gathered earlier.
  5. Double-check all the information and hit confirm.

3. Send Money Using Bank Account or Card

  1. Go to the Wise app and tap on Send money.
  2. Enter the amount and currency you’d like to send.
  3. Fill in the Revolut local or SWIFT details, based on the currency you’re sending.
  4. Choose your preferred payment method, like card, ACH, or wire transfer.
  5. Review all the details, follow the on-screen prompts, and then confirm your transfer.

Wise to Revolut Fee

What’s the fee to send money from Wise to Revolut? The fees depend on your currency and payment method.

If you plan to send money from your Wise account in USD to a Revolut account also in the U.S., the fee could be as minimal as 0.39 USD. To get the most current rates, use Wise’s online calculator.

When you use a bank account that’s already linked to your Wise account for the transfer, whether it’s through ACH or wire, the fee will be variable. It changes based on the amount you’re sending and the currency involved.

Before you complete the transfer, you will get to see the exact fee to be charged. So, double-check everything before sending Wise to Revolut.

For the most current and detailed information on fees, you can either check the Terms of Use for your area or go to Wise’s Fees and Pricing page.

Wise to Revolut Transfer Time

How long does it take to send from Wise to Revolut? The time it takes for your money to go from Wise to Revolut varies depending on the method of payment you choose and whether you’re converting currencies. Before you finalize the transfer, Wise will give you an estimated time for the money to arrive in your Revolut account.

Moreover, 50% of the transfers made through Wise are either instant or take just a few seconds. However, the speed of each transaction can differ based on specific details, so it’s not guaranteed for every transfer.

Wise to Revolut Withdrawal

Revolut is a digital-only fintech app that allows you to send and receive money in over 35 countries. It offers various features like currency exchange, a debit card, and even crypto trading.

Ways to Withdraw Money

  1. Spending with Revolut Debit Card.
    • You can use your Revolut Mastercard or Visa debit card.
    • Spend globally.
  2. Withdrawal from ATM.
    • You can use your Revolut card to withdraw cash from ATMs.
    • Free withdrawals are available up to a certain monthly limit.
  3. Withdraw to Another Bank Account.
    • You can transfer money from your Revolut account to an external bank account.
    • Supports 30+ currencies.

Fees

  • Local Transfers. Free
  • International Transfers. Variable fee of 0.3% and extra fees for certain conditions.
  • ATM Withdrawals. Free up to a certain limit, then a 2% fee applies.

Add Wise Card to Revolut

Follow this guide to connect your Wise card to your Revolut account and top up if you want:

  1. Open your Revolut app and select the option to Add money.
  2. You’ll be guided through a series of steps to input your Wise card information. This includes your card number, the card’s expiry date, the CVC code, and your billing ZIP or postal code.
  3. Once your card details are in, pick the currency you want to use and specify the amount you’d like to add.
  4. Tap Add money securely.

The next time you are transferring funds from Wise to Revolut, just refer back to this guide to help you send your money faster.

Meanwhile, you can also make the transfers the other way around – i.e., from Revolut to Wise.

Conclusion

Both Wise and Revolut offer unique features and benefits, making them great choices for international transactions. While you can conveniently spend, withdraw, or transfer money, you need to consider the fees and duration of the transaction.

If you juggle currencies or travel frequently, linking your Wise and Revolut accounts could be what you need. This guide has hopefully cleared up any confusion you might have had about transferring funds between the two.

Read alsoWise Vs Revolut Vs Monzo [Which is Better]?

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Written by
Jim Marous

Jim Marous is a Top 5 Retail Banking Influencer, Global Speaker, Podcast Host and Co-Publisher at The Financial Brand. I am a co-author here at Blueopes Finance, writing on a lot of topics regarding payments, banking software, cards, and investing.

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