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Wise Business and Revolut Business are two of the most widely used digital business accounts for UK companies trading locally and internationally. While both are fintech platforms, they’re designed for slightly different priorities.
Wise Business focuses on low‑cost international money movement and transparent exchange rates. Revolut Business, on the other hand, positions itself as a broader financial platform, combining banking, cards, expense management, and global payments.
This guide compares Wise and Revolut side by side, covering features, fees, regulation, and which type of UK company each account is best suited to.
Wise vs Revolut: At a Glance Comparison
Wise Business | Revolut Business | |
Account model | E‑Money Institution (EMI) | Fully licensed UK bank |
Core focus | International payments, FX | All‑in‑one |
Typical users | SMEs, exporters, remote businesses | Startups, scaling SMEs, global teams |
Monthly fees | No monthly fee | Free and paid plans |
Multi‑currency | Yes | Yes |
Business cards | Debit cards | Debit & virtual cards |
Lending | Not available | Not available |
FSCS protection | No | Protected with Revolut Bank UK Ltd |
Business Bank Account Offers and Fees
What Wise Business is Designed For
Wise Business is built for companies that send, receive, and hold funds in multiple currencies. Its core strength is international payments, using the real exchange rate with low, transparent fees.
Rather than offering a wide range of business tools, Wise keeps its product focused on cost‑efficient global money management.
Key Characteristics of Wise Business
Hold and manage money in 40+ currencies
Local bank details for GBP, EUR, USD and more
Low‑cost international transfers using the mid‑market exchange rate
Integrates with accounting platforms like Xero and QuickBooks
Suitable for UK sole traders and limited companies
Trade‑Offs to Consider
Limited built‑in business management tools
No overdrafts, loans, or credit products
Fewer card and expense management features
Not designed as a full banking replacement
Wise Business tends to suit companies with international suppliers, overseas customers, or teams working across borders.
What Revolut Business is Designed For
Revolut Business aims to be an all‑in‑one financial platform rather than just a business account. Alongside multi‑currency banking, it includes cards, expenses, approvals, and integrations designed to support growing teams.
It’s often positioned as a scalable solution for startups and SMEs that want everything in one place.
Key Characteristics of Revolut Business
Multi‑currency accounts with global payments
Free and paid subscription plans
Physical and virtual business cards
Built‑in expense management and approvals
Integrates with accounting and payroll tools
Designed for sole traders and limited companies
FSCS protection with Revolut Bank UK Ltd
Trade‑Offs to Consider
Monthly fees apply to most plans
FX allowances are capped on lower tiers
Pricing becomes more complex as you scale
Some advanced features are locked behind higher plans
Revolut Business appeals to businesses that want structure, controls, and visibility across spending.
How They Charge
Wise Business Pricing
No monthly account fee
One‑off fee to open the account
Pay‑as‑you‑go international transfer fees
FX fees vary by currency, but are shown upfront
Card fees apply separately
Wise’s pricing is usage‑based, making it predictable for companies that don’t need extra tools.
Revolut Business Pricing
Free plan available with limited features
Paid plans unlock higher FX limits and tools
Monthly subscriptions scale by plan level
Charges apply for FX beyond allowances
Revolut’s model suits businesses that want bundled features rather than pay‑per‑use pricing.
Feature Comparison: Wise vs Revolut
Everyday Banking
Payments and transfers: Both support UK and international payments
Multi‑currency holding: Both allow businesses to hold multiple currencies
Account access: Mobile and desktop platforms available
Cards and Spending
Wise Business: Physical debit cards with basic controls
Revolut Business: Physical and virtual cards with advanced controls
Expense Management
Wise Business: Limited expense tools
Revolut Business: Built‑in expense tracking, approvals, and team management
Accounting Integrations
Wise Business: Integrates with Xero, QuickBooks and others
Revolut Business: Accounting integrations plus API access on higher plans
International Use
Wise Business: Strong focus on low‑cost FX and cross‑border payments
Revolut Business: Competitive FX with limits depending on plan
Regulation and Protection
Wise Business and Revolut Business now operate under different regulatory models, which affect how customer funds are protected.
Wise Business operates as an Electronic Money Institution (EMI)
Customer funds are safeguarded, not FSCS‑protected
Money is held separately from Wise’s own funds
FSCS protection up to £85,000 doesn’t apply
Revolut Business is provided by Revolut Bank UK Ltd, a fully licensed UK bank
Eligible deposits held with Revolut Bank UK Ltd are protected by the FSCS up to £85,000
Funds benefit from bank‑level regulation and oversight
Some features or accounts may still operate under e‑money safeguarding
For businesses where FSCS protection is a priority, Revolut Business now offers stronger regulatory reassurance than Wise Business. However, companies should always check which Revolut entity their account is held with, as this determines the level of protection that applies.
Who Should Consider Wise Business?
Wise Business may be a good fit if your company:
Makes frequent international payments
Wants transparent, low FX fees
Doesn’t need advanced expense tools
Operates with a lean setup
Values simplicity over bundled features
Who Should Consider Revolut Business?
Revolut Business may suit SMEs that:
Want cards, expenses, and approvals in one platform
Have multiple team members spending money
Prefer subscription‑based pricing
Need scalable tools as they grow
Operate across multiple countries
Alternatives to Wise and Revolut
You should explore other business accounts if your company:
Needs overdrafts or lending access
Handles large volumes of cash
Wants a relationship manager
Operates in a niche or specialist sector
It’s worth taking time to compare other business bank accounts to find the right solution.
