Revolut vs Wirex – a comparative review

If you are a user of personal finance products, then you’ve probably heard of Revolut – it’s a famous startup that has raised a lot of money to introduce next generation personal finance products.

Similarly, if you’re a user of cryptocurrencies, you’ve probably heard of Wirex – the company was the first one to present a working cryptocurrency debit card that has become the best Bitcoin card option for UK.

Let’s see how these different products compare across several common points. The main part we are interested in is the cryptocurrency accounts tied to prepaid debit cards. That allows spending cryptocurrency at POS terminals and withdraw Bitcoin to cash at ATMs.

RevolutWirex
Interface  
app onlyWeb & app
Supported countries
EEA + more (no USA)EEA
Fees  
Deposit feesfreefree
Account management feefree£1.00/mo
Plastic card cost£4.99free
Limits
ATM withdrawal fee2% of withdrawal$2.5-3.5
ATM limit5k EUR/month$250/day
POS purchase limitunlimitedunlimited
Maximum card balance€33.000 yearly activity$10000
Prepaid debit card type
Visa, MasterCard, MaestroVisa
Currencies
GBP, EUR, USD, AUD, CAD, CHF, CZK, DKK, HKD, NOK, PLN, RON, and SEKUSD, GBP. EUR
Cryptocurrencies
BTC, BCH, ETH, XRP, LTCBTC, ETH, XRP, LTC
KYC
mandatorymandatory for card issuance, not necessary for wallet usage
Deposit methods
Bank, credit card, cryptoBank, credit card, crypto
Other features
Budgeting, savings vault, mobile phone and travel insuranceFree cryptocurrency exchange
Cashback
0.1% of card transactions in Europe, 1% outside of Europe – only for more expensive “Metal” plan0.5% of all POS transactions

 

Revolut vs Wirex comparison results

Wirex is generally cheaper and has higher usage limits. $250 daily ATM withdrawals amount to $7500 monthly limit, which is higher than that of Revolut.

Fees are generally higher with Revolut, even though there is no account maintenance fee. Revolut also offers premium products that have higher limits but cost more – in this comparison table we’ve skipped them and focused on the basic offer from each company.

Revolut definitely offers more features – since it’s positioned as a personal finance app primarily. More currencies, 1 cryptocurrency more than Wirex. Revolut could be better for spending Bitcoin cash, since they allow BCH balances that can be withdrawn at ATMs, which makes Revolut a working BCH debit card.

Revolut also has business accounts (which we did not review since it’s a crypto-focused comparison) that allow distributing payments to employees and freelancers.

Wirex is simpler in that regard – just a dashboard, wallets, and a card. But it all works seamlessly. There are no bells and whistles which is understandable, because Wirex is not a personal finance product (yet).

In terms of usability the presence of a web interface is a good thing that lets users try out the product before getting the app and submitting identification. Here Wirex beats Revolut as well.

The cryptoback feature looks more attractive at Wirex – all POS purchases, no matter what the location, will send 0.5% of the amount back to your waller.

Verdict: if you are a crypto user from EEA and want to have a Bitcoin, Litecoin, Ethereum or Ripple debit card for simple ATM withdrawals and POS payments – try Wirex first.

 

 

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