TransferWise is a UK-based international money transfer company. It is the closest Revolut alternative. While TransferWise provides services to individuals and businesses, it is among the few alternatives to Revolut that also offer a free debit card.
The TransferWise Borderless Account is available to individuals and businesses comes with fee-free receiving accounts in USD, GBP, EUR, AUD, NZD and SGD. The TransferWise Mastercard debit card gives you easy access to money in your Borderless Account. With Revolut you can have multi-currency receiving accounts, they are all located in the UK. This means if you are living abroad, receiving funds in to one of your multi-currency accounts costs may be incurred by the sender due to international transfer fees.
While TransferWise does not have a banking license, it also provides a savings bucket where you can segregate your digital wallet money from your Borderless debit card. Very handy indeed.
TransferWise is also a cheaper alternative to Revolut. No monthly fees, no debit card issuance fee. Same low currency conversion rates on the weekend, where Revolut costs a lot more to spend on their debit card in foreign countries on the weekend. If you spend more than $500 a month when overseas, TransferWise would be the cheaper alternative. Revolut's currency conversion fees are increased to 2% after your monthly fee free spending threshold.
This UK-based Revolut competitor also has offices in the Netherlands, Japan and Hong Kong. It provides services to individuals, businesses and online sellers. If you sign up for the World Account, you get access to free receiving accounts in USD, CAD, GBP, EUR, AUD, NZD and JPY. World First operates multilingual region-specific websites. A debit card is not provided with their WorldFirst World Account. That may be make or break for some individuals or businesses. However, for large money transfers or receiving larger sums of money in foreign currencies, WorldFirst is the better choice. Their extremely low and transparent currency exchange structure can save individuals and businesses money moving larger sums of money internationally.
Depending on where you live, you may use the services of this U.S.-based Revolut alternative to make and/or receive payments. Payoneer customers get access to receiving accounts through the company’s Global Payment Service. This gives them the ability to receive payments in the form of local transfers from the U.S., the UK, the Eurozone, Australia, Canada, Japan and China. Online sellers may use the company’s services to receive payments from different e-commerce marketplaces.
OFX is an Australia-based Revolut competitor that also has offices in New Zealand, the UK, the U.S., Canada and Singapore. You may sign up as an individual, a business or an online seller. The OFX Global Currency Account offers free receiving accounts in USD, CAD, GBP, EUR, AUD and HKD. It is also compatible with most popular e-commerce marketplaces. Businesses may use the Global Currency Account to make payments in the same currency and to pay suppliers directly. The company operates dedicated region-specific websites, which are available only in English.