The Best Revolut Alternative: Top Digital Banking Options
Revolut has revolutionized the way many people handle their finances, offering an internationally focused, app-based approach with powerful features for budgeting, expense tracking, and even cryptocurrency trading. Its free account setup, low-cost international transfers, and handy physical debit card make it a popular choice. However, no single financial service fits everyone's needs. If you're looking for a different approach to digital banking, a specific feature Revolut doesn't offer, or simply a fresh perspective, exploring a Revolut alternative is a smart move.
Top Revolut Alternatives
Whether you're prioritizing lower fees, specific budgeting tools, or broader international capabilities, there's a digital banking solution out there for you. Let's dive into some of the top contenders that offer compelling alternatives to Revolut.
TransferWise
TransferWise (now Wise) is a strong Revolut alternative, especially for those focused on international money transfers. It's renowned for its transparent and often significantly lower fees compared to traditional banks, charging up to 8x less in hidden costs. Available on Commercial, Web, Android, iPhone, Android Tablet, and iPad, TransferWise excels in foreign account deposits, supporting multiple currencies, and offering highly favorable exchange rates.
N26
N26 is a compelling mobile-first banking alternative, particularly popular in Europe. As "The Mobile Bank," it offers complete control of your finances directly from your smartphone. Available on Freemium, Web, Android, and iPhone, N26 provides features like online banking, offering a streamlined digital banking experience similar to Revolut but with its own unique interface and regional focus.
Monese
Monese is a multi-currency mobile banking alternative that allows instant opening of a fully functional current account, making it ideal for those who may struggle with traditional bank requirements, especially new arrivals in a country. Available on Freemium, Web, Android, and iPhone, Monese stands out with features like 128-bit encryption, Apple Pay, Google Pay, cryptocurrency support, multiple currencies, and online banking, providing a robust suite of services.
Curve
Curve offers a unique proposition as a Revolut alternative by consolidating all your existing credit and debit cards into one smart card and app. This allows you to manage all your spending through a single interface without needing to switch between physical cards. Available on Freemium, Android, and iPhone, Curve primarily focuses on simplifying your existing financial tools through its online banking features.
Skrill
Skrill is a versatile Revolut alternative for secure payments and international money transfers, particularly popular for online betting, trading, shopping, and gaming. It simplifies money management and offers features like virtual credit cards and robust e-commerce capabilities. Available on Freemium, Web, Android, iPhone, Android Tablet, and iPad, Skrill provides a broad platform for digital transactions.
Simple
Simple offers an online banking experience focused on exceptional customer service and integrated tools for budgeting and saving directly within your account. As a free service available on Web, Android, and iPhone, Simple distinguishes itself with features like mobile check deposit, online banking, and a strong emphasis on zero-based budgeting, making it an excellent Revolut alternative for those prioritizing financial planning.
Cash App
Cash App, powered by Square, is a popular free Revolut alternative for instant peer-to-peer payments and easy cash-outs to your bank. Available on Android and iPhone, it provides convenient features such as accepting Bitcoin as payment, buying Bitcoins, instant debit withdrawals, and a clear no-fees policy for standard transactions, making it a straightforward choice for quick transfers.
Monzo
Monzo Bank is a leading digital, mobile-only bank based in the United Kingdom, offering a comprehensive banking experience as a free Revolut alternative. Available on Web, Android, and iPhone, Monzo allows users to manage their money effectively, set spending budgets, and benefit from features like Apple Pay, Google Pay, a mobile-friendly interface, and robust online banking capabilities.
Paysera
Paysera provides a comprehensive suite of financial services including private or business IBAN accounts, payment collection, favorable currency exchange rates, and a Paysera VISA card. As a Freemium service available on Web, Android, and iPhone, Paysera serves as a strong Revolut alternative, particularly for those needing extensive online banking features and multi-currency support for both personal and business use.
Wave
Wave (formerly Wave App) offers instant, no-fee transfers from the US, UK, and Canada to Africa with excellent exchange rates. Available as a free service on Android and iPhone, Wave serves as a specialized Revolut alternative for users primarily focused on sending money to specific regions, emphasizing cost-effectiveness and speed for international remittances.
Ultimately, the best Revolut alternative depends on your individual financial habits and priorities. Whether you prioritize fee structures, specific budgeting tools, international transfer capabilities, or integrated investment options, exploring these alternatives will help you find the digital banking solution that best aligns with your needs.