The Provider Index

Fig. 3 · A banknote counter, part by part

Two providers are compared the way a counter counts: one note at a time.

Start from the money you will actually move, then read the plan, the conversion fee, the licence, the rails and the details you can be paid on. Scroll, and the counter comes apart in that order.

  1. 01 Notes in the hopper

    Count your own volume first.

    At 5,000 pounds converted a month Wise Business costs about 12 pounds against 34 on Revolut Basic. At 15,000 pounds a month the two come out level.

    Wise Business against Revolut Business
  2. 02 Hopper guides

    The plan sets the allowance.

    Revolut Business UK plans cost 10, 35 and 125 pounds a month, with conversion allowances of 1,000, 15,000 and 60,000 pounds. Past the allowance each conversion costs 0.6%.

    Two legal entities and two price models
  3. 03 Top cover and display

    The display shows one number. The fee has several.

    Wise Business costs 50 pounds once, then a conversion fee that starts at 0.24% and varies by currency. Revolut charges 1% on conversions outside market hours on every plan.

    Wise Business against Revolut Business
  4. 04 Sensor board

    The detector checks the paper. We check the licence.

    In the UK Revolut is a bank, so deposits carry FSCS cover. Wise is an e-money institution: it safeguards customer funds instead, which ring fences the money but pays no compensation.

    Are neobank deposits protected?
  5. 05 Feed rollers

    Every rail adds a flat fee.

    Flat fees can outweigh the conversion margin: 10 incoming Fedwire payments cost 80 pounds at Revolut, and 20 Swift payments cost 200 to 400 pounds at Airwallex.

    Multi currency business accounts, compared
  6. 06 Motor and belt

    Local details decide what you can be paid in.

    Wise receives money in 22 currencies and holds more than 40. Starling offers EUR, and its USD account is closed to new applicants. The count on a landing page is not the count you can bill in.

    What the details and the rate really cost
Fig 3Banknote counter
0042
Scrollassembled · 6 layers