Revolut vs Transferwise for multicurrency accounts and international money transfer

I’ve been experiencing the Revolut repeat verficication issue . I think it might be the second time I’ve been asked to re-verify since the start of the year. I don’t really use my Revolut account and am now wondering perhaps I should just delete the account.

The only reason I keep it around is in case I might need the multi-currency and international money transfer functionality at some point. I generally don’t. I don’t often need to do international transfers (and have only really used Transferwise for this in recent years) and everytime I’ve been abroad in the last few years I’ve used my Monzo card for spending (currency conversion on the fly) instead of pre-loading money in local currency on my Revolut card.

I also have Transferwise but haven’t really used either Transferwise or Revolut enough to form my own Transferwise vs Revolut opinion. So curious of the opinion of others on Revolut vs Transferwise for multicurrency accounts and international money transfer. Please ignore the other functionality Revolut brings (crypto, investing, premium accounts, etc).

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It depends on the currency. TransferWise has a lot more ways of adding currencies via local transfers but their rates aren’t as good. I can’t say anything bad about them.

If it’s just occasional then TransferWise is probably good enough. You could always open Revolut again in the future if it becomes more regular, or even Wirex (which I’m looking into once their new accounts launch).

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For transfers to the US, nothing beats cash app for me.

I sometimes use PayPal for small international transfers, but the fees are quite high.

I find just a regular cross boarder bank transfer from Barclays to be mostly sufficient and amongst the cheapest rates. Transferwise are decent though.

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? do you mean sending from £ cash tag to $ cash tag?

Yep!

I’ve never been charged a fee for sending money to my friends and family in the US, neither have they for sending money to me, though the amount is always less than £100.

The transfers are instant. It just uses the current exchange rate. In the US, they don’t even need to withdraw the cash to their current account, as they have a card they can spend it on. It’s the best experience I’ve had with international transfers.

The cards are pretty rad too. Hoping they eventually come to the U.K. had my engraving planned for years!

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It’s owned by Square so I imagine they’ll want to expand here at some point

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