Wise card vs Revolut vs a credit card abroad
For card payments abroad, a credit card with no foreign transaction fee and a Revolut account within its free allowance both cost close to nothing; the Wise card charges a small conversion fee; a typical cash-back card adds 3%. The difference shows up most on long trips and cash withdrawals.
Source: Wise card fees · Revolut US plans · Schwab checking · verified
Saved vs a 3% card
$45.00
Cheapest for $1,500.00: Credit card with no foreign transaction fee, with no fee. A 3% card would cost $45.00.
Every option for $1,500.00 in euros
| Option | Cost | How it’s charged |
|---|---|---|
| Credit card with a 3% foreign transaction fee | $45.00 | Card network exchange rate, plus 3% on every purchase |
| Credit card with no foreign transaction fee (cheapest) | $0.00 | Card network exchange rate, no fee from the bank |
| Schwab Bank Visa debit card | $0.00 | No foreign transaction fee; ATM fees rebated worldwide |
| Wise card | $4.35 | Mid-market rate + 0.29% conversion fee |
| Revolut Standard ($0 plan) | $0.00 | Free within $1,000 of exchanges a month, weekdays |
Fees only. Credit and debit cards convert at the Visa, Mastercard or Amex network rate; Wise and Revolut at their own rate close to mid-market. Plan prices: Revolut Premium $9.99 and Metal $16.99 a month raise the free allowance to $10,000 and unlimited.
Checked on each issuer’s site
The details
Wise card abroad
The Wise card costs $9 once and has no foreign transaction fee or subscription. Each purchase converts at the mid-market rate plus a conversion fee that depends on the currency: 0.29% for euros, 0.33% for pounds and 0.28% for Canadian dollars. You can also hold the currency in advance. ATM withdrawals are free up to $250 a month; after that Wise charges $1.95 + 1.95% per withdrawal. More on Wise fees.
Revolut abroad
Revolut’s US plans set how much you can exchange without fair-usage fees: $1,000 a month on Standard ($0), $10,000 on Premium ($9.99 a month) and unlimited on Metal ($16.99). On Standard, exchanges outside market hours (Friday 5 pm to Sunday 6 pm Eastern) cost 1%. Out-of-network ATM withdrawals are free up to a monthly limit ($800 or $1,200 depending on the plan), then 2%.
Credit card with no foreign transaction fee
For purchases, it is as cheap as either app and adds purchase protection and rewards. Its weak spot is cash: an ATM withdrawal is a cash advance. See every card with no foreign transaction fee.
Debit card for cash: Schwab
Schwab Bank’s Investor Checking debit card has no foreign transaction fees and rebates ATM fees worldwide without a limit (Schwab excludes dynamic currency conversion fees from the rebate). It is the usual pick for cash on long trips.
Which to use
- Short trip, card payments: a no-foreign-fee credit card, with Revolut Standard or Wise as a backup on a different network.
- Long stay or living abroad: Wise, to hold the local currency and receive payments in it. Freelancers paid from abroad can compare it on the PayoutCost calculator.
- Cash: Schwab debit, or Wise and Revolut within their free ATM limits.
- Never accept a terminal’s offer to charge you in dollars.
Questions
Is Wise or Revolut better for travel?
Within Revolut Standard’s $1,000 monthly allowance on weekdays, Revolut charges no exchange fee; the Wise card charges a small conversion fee (about 0.3% for euros) but has no monthly limit or weekend surcharge.
Is it cheaper to use a credit card or Wise abroad?
A credit card with no foreign transaction fee is about as cheap as Wise for purchases. A card with a 3% foreign transaction fee costs roughly ten times more than Wise on euro purchases.
Does the Wise card have foreign transaction fees?
No. Wise charges only its conversion fee when you spend a currency you don’t hold, plus ATM fees above $250 a month.
Does Revolut charge fees abroad?
Not on Standard within $1,000 of exchanges a month on weekdays. Weekend exchanges cost 1%, and ATM withdrawals above the monthly limit cost 2%.
More: Credit cards with no foreign transaction fee · Foreign transaction fees by card. Seller fee calculators: eBay fee calculator · Etsy fee calculator · Square fee calculator · Venmo fee calculator · Cash App fee calculator. Getting paid by clients abroad? Compare what you keep with Stripe, PayPal, Wise and more.