Revout and Monese are evenly matched digital banking solutions. Both have foreign exchange optimized services. This comparison shows which has better individual and business features. And which have cheaper international money transfer options.
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Revolut provides digital banking and international money transfer services for personal customers from different countries.
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Personal customers can sign up with Monese from the UK and countries in the European Economic Area (EEA).
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Businesses signing up with Revolut can receive multiple benefits.
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Monese provides mobile money accounts for UK-registered businesses.
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When you use your Revolut card to make international transactions, you could benefit by getting existing interbank rates. Revolut fees depend on the type of account you open and where you live. As you will see to get the best out of Revolut for international transactions, you need to choose a monthly subscription plan to match your forecasted monthly international money transactions volume, and most importantly.. don't use Revolut on the weekends for currency conversions! Read on to see why…
| Region | Account type | Monthly subscription fee |
| The US | Standard | $0 |
| Premium | $9.99 | |
| Metal | $16.99 | |
| The UK | Standard | £0 |
| Premium | £6.99 | |
| Metal | £12.99 | |
| Australia | Standard | $0 |
| Premium | $10.99 | |
| Metal | $24.99 |
Fees for ATM withdrawals
| Account type | Fees |
| Standard | No fee up to $300 per month, then a 2% fee applies. |
| Premium | No fee up to $600 per month, then a 2% fee applies. |
| Metal | No fee up to $1,200 per month, then a 2% fee applies. |
| Account type | Fees |
| Standard | No fee up to $6,500 per month, then a 0.5% exchange rate margin applies. |
| Premium | No fee up to $20,000 per month, then a 0.5% exchange rate margin applies. |
| Metal | Unlimited free transfers. |
For example, you have an Australian Revolut account but have a USD balance. You may have converted your AUD balance to USD and are holding it in your Revolut multi-currency account. Since early 2021, a new fee is applied. The fee for same currency international money transfers from your Revolut account to a non-Revolut bank account is 0.3% of the transfer amount. The minimum charge is $0.30 and the maximum charge is $8.
Same currency transfers between Revolut customers internationally still does not cost anything.
Revolut provides interbank exchange rates when processing international money transfers involving major currencies, provided they fall within a customer's monthly allowance limit. Transfers that involve THB (Thailand) and UAH Ukraine) come with markups, as do cryptocurrency exchanges. The markup depends on the type of account you hold.
Fees for foreign exchange outside market hours (weekends)
| High-frequency Standard customers | Premium customers | Metal customers | |
| Major currencies | 1% | 1% | 1% |
| THB and UAH | 1.5% | 2% | 2% |
| Cryptocurrencies | 3% | 1.5% | 1.5% |
Using Revolut on the weekend (GMT), incurs high exchange rate fees of 1%. This is not highlighted very well when signing up and can mean surprise costs for weekend international travellers or travellers on extended trips.
iCompareFX Top Tip: It pays to not use Revolut on the weekends!
You don't have to pay any fees to receive money into your Revolut multi-currency accounts. However, the sender might need to pay intermediary bank fees. For example, a sender transferring EUR from Ireland into your EUR-denominated account in the UK might still need to pay intermediary bank fees. This is because the multi-currency accounts offered by Revolut are physically located in the UK.
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Monthly fees depend on the type of account you have.
Transferring money between Monese accounts is free. The fee for transfers to non-Monese accounts varies based on account type.
Monese provides competitive exchange rates when carrying out international money transfers. You can get an indication of existing rates by using the Monese currency calculator. You find out the real-time conversion rate before your transfer's confirmation.
Very even scoring for Monese and Revolut’s monthly accounting fees. These fee free thresholds for overseas spending are also very similar. 2% exchange rate margins above the monthly thresholds. What puts Monese in the lead are the offers available for new basic account customers.
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Sign up process - Create a new account with ease by using the Revolut app.
Payment options - Bank account transfers, debit cards and credit cards..
Apple Pay and Google Pay - Link your Revolut account to Apple Pay or Google Pay to make fast and easy payments.
Mobile app - Available for iOS and Android.
Website access - Customers can not use the Revolut website to access their accounts or send money. They need to use the Revolut app.
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Registration process - Creating a new account is fairly straightforward.
Payment options - Bank account transfer, debit card and cash.
Linking third-party accounts - You may link your PayPal and Avios accounts with your Monese account.
Apple Pay and Google Pay - Link your Monese account to Apple Pay or Google Pay, and make payments using the same.
Mobile app - Available for iOS and Android.
Phone transfers - You cannot carry out transfers over the phone.
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Supported currencies for transfers - Use Revolut to send money in 28 currencies.
Customer support - Local phone support in different countries and 24/7 chat support.
Supported registration countries - Revolut can improve by increasing the number of registration countries outside of Europe.
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Supported destination countries for transfers - Monese lets you transfer money to more than 30 countries.
Multilingual customer support - Get customer support in English, French, German, Brazilian Portuguese, European Portuguese, Bulgarian, Italian, Spanish, Romanian, Polish, Czech, Turkish, Estonian or Lithuanian.
Supported registration countries - Monese can improve by expanding its supported registration countries beyond Europe.
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Addressing customer complaints - Some Revolut reviews on Trustpilot mention customers' accounts being locked and their money going missing. Quick resolution of such complaints would work well in increasing trust levels.
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Responding to customer complaints - A number of Monese reviews on Trustpilot mention delayed transfers and accounts being blocked. Unfortunately, it looks like Monese does not respond to these complaints.
WinnerMonese wins overall against Revolut by a small margin. Their fees and monthly account costs are generally evenly matched. What has led to Monese winning overall is support of more languages and currencies.
