WiseRecommended | Revolut | |
|---|---|---|
| Rating | 4.8 | 4.2 |
| Setup Cost | €50 | €0 |
| Monthly From | € | € |
| Accounting | ||
| Invoicing | ||
| VAT Filing | ||
| Annual Report | ||
| Virtual Office | ||
| Dedicated Accountant | ||
| Banking | Xolo, Companio, 1Office | Xolo, Companio |
| Start with Wise Fee-free first transfer up to €500 | Visit Revolut |
Quick verdict
Wise if you use Xolo (seamless integration) or want the simplest setup. Revolut if you need virtual cards or do many same-currency transactions.
For most e-Residents: pick Wise and don't look back.
I've used Wise Business since 2018 for my Estonian company. I've tested Revolut Business briefly but went back to Wise within a month. The Xolo integration alone makes Wise the obvious choice for me. But Revolut has genuinely good features that matter for some use cases.
Feature comparison
| Feature | Wise Business | Revolut Business |
|---|---|---|
| Monthly fee | Free (one-time ~€50 setup for account details) | Free plan available |
| IBAN country | Belgium (BE) | Lithuania (LT) |
| Currencies | 50+ | 30+ |
| Conversion fee | 0.4-0.6% (mid-market) | Free up to limit, then ~0.4% |
| Physical card | Visa (€7 one-time) | Visa (free on some plans) |
| Virtual cards | 1 included | Multiple (big advantage) |
| Xolo integration | Full auto-sync | Limited/manual |
| Companio integration | Supported | Supported |
| Multi-user access | Yes | Yes |
| International transfers | Excellent, fast | Good, fast |
| SEPA transfers | Free | Free |
When Wise wins
Xolo integration
This is the killer feature. If you use Xolo, Wise transactions sync automatically. No CSV uploads, no manual matching, no bookkeeping headaches. Every transaction appears in your Xolo dashboard within hours.
Transparency
Wise shows you the exact conversion rate and fee before you confirm. No hidden markups. The mid-market rate is genuinely the mid-market rate.
International transfers
Wise was built for international transfers. Sending money to 80+ countries with real exchange rates and low fees is their core product. If you pay international contractors, this matters.
Simplicity
Open account → verify → pay a one-time ~€50 fee for your account details → get IBAN → done. No plan decisions, no feature tiers to compare. After that, no monthly fee — you pay per transaction, and the fees are transparent.
When Revolut wins
Virtual cards
If you have many subscriptions and want separate virtual cards for each (SaaS tools, ads, hosting), Revolut is better. Wise gives you one card. Revolut gives you as many virtual cards as you need.
Same-currency transactions
Revolut's free plan includes a generous allowance for same-currency transactions with no fees. If most of your business is in EUR and your expenses are in EUR, Revolut can be slightly cheaper.
Expense management
Revolut has better built-in expense categorization and reporting. If you're not using a service provider's accounting (unusual for e-Residents), Revolut's tools are more helpful.
The numbers
Monthly cost for a typical freelancer (€5,000 revenue, EUR-based):
| Scenario | Wise | Revolut (Free) |
|---|---|---|
| Receiving 3 EUR invoices | Free | Free |
| 1 USD→EUR conversion (€500) | ~€2.50 | Free (within limit) |
| 5 EUR expenses | Free | Free |
| 1 international transfer | ~€3-5 | ~€3-5 |
| Monthly total | ~€5-8 | ~€3-5 |
The difference is negligible — we're talking €3/month. Don't let this be the deciding factor.
The real cost difference isn't in transaction fees — it's in time. If Wise auto-syncs with your provider and saves you 30 minutes of manual bookkeeping per month, that's worth far more than €3 in fee savings.
My recommendation
| Your situation | Pick |
|---|---|
| Using Xolo | Wise — the integration decides it |
| Using Companio | Either works — Wise is simpler |
| Need multiple virtual cards | Revolut |
| Mostly EUR transactions | Either — marginal difference |
| Lots of international payments | Wise |
| Just starting, want simple | Wise |
Can I use both?
You can, but I wouldn't. Two banking providers means double the reconciliation work for your accountant. Every transaction needs to be matched and categorized. Keeping it to one bank keeps your books simple and your provider fees predictable.
The only exception: if you want Revolut purely for a virtual card to separate ad spend or specific subscriptions, while keeping Wise as your main business account.
Continue reading
- Wise Business Review — My detailed review after 6+ years of daily use
- Banking Setup — Step-by-step guide to setting up your business banking
- Choosing a Service Provider — Banking integration varies by provider, so choose wisely
- All Service Providers Compared — See which providers integrate with which banks