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).
Monese and Revolut are evenly matched with the services they both provide to individuals. Monese has the slight upper hand with cash deposit capabilities and joint account capabilities.
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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.
Close scoring again for both digital banks for business. Revolut inches ahead with it’s Xero and Quickbook accounting integration capabilities.
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When you use your Revolut card to make international transactions, you benefit by getting existing interbank rates. Revolut fees depend on the type of account you open and where you live.
| 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 |
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 an exchange rate margin applies. |
| Premium | Unlimited free transfers. |
| Metal | Unlimited free transfers. |
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
| High-frequency Standard customers | Premium customers | Metal customers | |
| Major currencies | 0.5% | 0.5% | 0.5% |
| THB and UAH | 1.5% | 2% | 2% |
| Cryptocurrencies | 3% | 1.5% | 1.5% |
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.
A neobanks, end to end customer experience is built into their design and development. Both companies score well in this section.
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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.
Monese supports sending money to more currencies. Monese also supports more languages in-app and through it’s customer service.
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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.
Monese hasn’t scored well in this category. Monese’s customer reviews have meant that it has lost points. These need to be addressed.
Winner MoneseMonese 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.
