Introduction
When you’re sending money across borders or managing multiple currencies for your business, hidden fees, unfavorable exchange rates, and delayed transfers can make the global operations feel frustrating, complex, costly and slow.
To avoid these issues and streamline international payments, choosing the right global payments platform is essential.
In this article, we’ll compare two leading solutions, Wise vs Revolut, and explore Xflow and its role in facilitating cross-border payments, focusing on their global accounts, transfer fees, and business features.
Overview – what are Wise, Revolut, and Xflow
Wise, Revolut, and Xflow are three leading platforms we talk about when discussing international payments. Each platform is designed to simplify global payments and multi-currency transactions for businesses and individuals in its own unique way.
Wise
This global platform provides multi-currency accounts and international money transfers by using the mid-market exchange rate to ensure low and transparent pricing. Used by freelancers and businesses worldwide, Wise supports over 40 currencies and pays out to 160 plus countries. It is best known for:
- API access for automation of payment workflows
- Free incoming payments from Wise accounts. Charges only apply for SWIFT or external bank transfers
Revolut
Although Revolut has a wide global reach and offers services in multiple countries, its India debut, expected in late 2025, will start with a limited feature set. The initial rollout will focus mainly on prepaid cards and digital wallets. Features like business accounts and advanced business payment features are still in the waitlist phase and not yet open.
Currently, Indian users can only receive international payments from abroad using Revolut (via wallet or card), but cannot send money internationally from India.
This mobile-first digital banking platform targets individuals, freelancers and businesses by providing:
- Instant currency exchange
- Budgeting tools
- Team expense management
- Subscription based business plans that include bulk payments and corporate cards
This platform’s ecosystem is designed for users who are looking for personal finance management and advanced business banking capabilities in one application.
Xflow
Xflow is an exclusive cross-border payments receiving platform that is designed for Indian businesses. It focuses on simplifying:
- B2B international collections
- Bulk payouts
- Currency conversion with competitive fees tailored for exporters, startups and SMEs in India.
This platform ensures compliance and offers a business-centric dashboard that eases the processes involved in managing global payments.
Wise vs Revolut: Core services compared – business payouts, merchant payments & B2B collections
Core business payment services are critical for freelancers, startups, and companies that are managing international operations. Wise, Revolut, and Xflow each specialize in facilitating business payouts and merchant payments, but their focus and capabilities vary significantly.
To optimize costs, compliance and operational efficiency, let’s look at the table below for a detailed comparison of Wise vs Revolut.
| Core service | Wise | Revolut |
|---|---|---|
| International business payouts | It offers transparent fees, mid-market exchange rates, for freelancers and businesses globally | It includes bulk payments in paid plans, and instant currency exchange within limits |
| Multi-currency accounts | It holds balances in over 40 currencies with local bank details for more than 10 currencies | It offers multi-currency wallets for more than 35 currencies, and supports instant FX up to limits |
| Batch payments | Is available for efficient bulk payments without extra fees | Is available on paid business plans only (Grow/Scale) |
| Merchant payments & collections | Multi-currency accounts facilitate global collections, integration with accounting software | Supports online payment collections and invoicing with subscription plans |
| Business cards | Debit cards for teams with real-time tracking | Physical and virtual prepaid business cards with spend controls |
| Expense management & controls | Basic spend tracking, no role-based controls | Advanced team management, spend controls, approval workflows |
| Integrations | Integrates with Xero, QuickBooks, FreshBooks | Integrates with Xero, QuickBooks, Sage, and HR platforms |
| Compliance & regulation | Regulated globally, compliance for cross-border payments | Regulated digital bank with enhanced KYC on business plans |
| API & automation | Free API access for automation of payment workflows | API access restricted to paid business plans |
| Pricing model | Pay-as-you-go, no monthly fee, low transparent fees | Subscription-based (Free to Enterprise tiers) with different limits |
Fees & exchange rates: What you must know
When you’re choosing a global payments partner for your business, it is necessary to consider the fees and exchange rates provided by the platforms. Wise is known for its transparent, low fees and uses the mid-market exchange rate with no hidden markup. And Revolut provides tiered subscription plans offering free allowances, but it applies markups beyond those limits and also during weekends.
Here’s a detailed comparison of Wise vs Revolut fees and exchange rates:
| Feature | Wise | Revolut |
|---|---|---|
| Monthly fee | None | For businesses, the plans range from £10 (Basic), £30 (Grow), £90 (Scale), and Custom (Enterprise). |
| Currency exchange rate | Real mid-market rate, no markup | Mid-market rate on weekdays up to a plan limit (e.g., £1,000/month on the free plan) A markup (fair usage fee) applies after the limit |
| International transfer fee | 1.7%-1.8% of the transaction amount, varies by currency | Varies by destination and plan; fees apply, but are competitive |
| Receiving payments fees | Free for local currency payments; small fixed fees on inbound wires (USD, EUR) | Free for GBP, EUR, USD; fees apply for others |
| Card fees | Free card issuance; small replacement fee | Free or small fees depending on plan |
| ATM withdrawal fees | Free up to £200/month, then 1.75% | 2% fee on all withdrawals |
| Markup on weekends/off-hours FX | None | 1% markup on weekends/market off-hours |
| Monthly fees or subscription | No monthly fees, pay-as-you-go ideal for small volumes | Offers both free Standard plan and paid subscriptions with higher limits and more features/perks |
Currency, country & payout coverage: How wide is the reach?
Wise and Revolut offer extensive global currency support and payout coverage, but they differ in their reach and specialization. Below is a detailed currency and country coverage comparison:
| Feature | Wise | Revolut |
|---|---|---|
| Currencies supported | More than 40 currencies (can hold or exchange) | Over 30 currencies (can hold or exchange) |
| Local bank details provided | In 10+ currencies including USD, EUR, GBP | Limited local IBANs primarily in EU |
| Countries supported for payouts | 160+ countries | 140+ countries |
| Card usage coverage | Debit cards usable in 200+ countries | Physical and virtual cards usable in 120+ countries |
| Settlement speed | Instant or typically 1-2 business days | Instant within Revolut network; other transfers like SWIFT may vary |
Wise vs Revolut: Speed, user experience & platform access
Factors like speed of transfer, ease of use and platform accessibility significantly affect user satisfaction with global payments solutions. While Wise offers a simple and clean interface for businesses and individuals to process international transfers, Revolut delivers instant transfers within its own network with the help of a feature-rich application.
Let’s look at the below table to understand better:
| Aspect | Wise | Revolut |
|---|---|---|
| Transfer speed | Instant or majority within 1–2 business days | Instant within Revolut network; 1–2 days for others |
| User interface | Clean, intuitive, focused on ease of use | Feature-rich app with financial analytics, budgeting, and team management tools |
| Platform access | Web and mobile apps, API access available | Web, mobile apps, extensive API for paid plans |
| Mobile app reviews | Highly rated for simplicity and reliability | Highly rated for multifunctional features |
| Customer support | Email and chat support, occasional delays reported | Chat, email, phone support with tiered service |
Use-case breakdown: Freelancers, businesses & startups
Every user group demands something different based on their unique requirements. Global payments platforms like Wise are ideal for freelancers and small businesses that value transparent fees and straightforward international payments. For startups and growing businesses that require team management, expense controls and multi-user access, Revolut is a better option.
Freelancers
For freelancers, Wise is an ideal global payments platform as it offers low fees, transparent exchange rates and has the ability to hold multiple currencies with local bank details for receiving international payments. It is a straightforward solution to invoice clients globally without monthly fees or hidden charges.
Revolut also provides freelancers with features like virtual and physical cards and spend tracking, but comes with subscription fees that may be less cost-effective for individuals.
Businesses
Wise has this pay-as-you-go pricing model and batch payment facilities that make it easy for businesses to manage vendor and contractor payments globally with no monthly fees. It can also be integrated with accounting tools like Xero and QuickBooks for better financial management. Revolut also appeals to businesses that are seeking multi-user access, team cards, spend controls, and detailed expense reporting, though these features require subscription plans.
Startups and growing teams
For startups, Wise’s scalable API and global transfer capabilities ensure smooth cross-border transactions. Revolut stands out for startups that need:
- Sophisticated team collaboration tools
- Corporate card issuance
- Bulk payments and workflow approvals
All these features are packed in tiered subscription plans suited to growing companies.
Cost-effectiveness for Indian users: Which platform typically wins?
When it comes to cost-effectiveness for Indian users, Wise generally offers the most transparent and competitive fees for international transfers, using the real mid-market exchange rate and charging fees typically between 1.6% to 1.9% plus a fixed charge for FIRC documentation.
On the other hand, Revolut does not support outbound international transfers from India into its platform yet, meaning Indian users cannot yet send money internationally from India using Revolut. However, Revolut does allow transfers to India from other countries.
| Transfer amount (in USD) | Wise fees & charges | Revolut fees & charges | Approx. INR received (Wise) | Approx. INR received (Revolut) |
|---|---|---|---|---|
| $1,000 | Approx. 1.7% + $2.50 FIRC | Free up to limit, then approx. 0.5%+markup(on weekends) | ₹87,700 (approx.) | ₹88,760 (approx., within limit) |
| $5,000 | Approx. 1.7% + $2.50 FIRC | approx. 0.5%+markup (on weekends) | ₹443,400 (approx) | ₹441,500 (approx) |
| $10,000 | 1.7% + $2.50 FIRC | approx. 0.5%+markup (on weekends) | ₹882,000 (approx) | ₹883,100 (approx) |
How Xflow compares to Wise and Revolut
Xflow is a specialized cross-border payments receiving platform for Indian businesses. This clearly defined consumer base sets it apart from Wise and Revolut, which serve a broader international user base.
Unlike Wise, which focuses on transparent pricing and mid-market exchange rates for global business transfers, Xflow simplifies cross-border B2B collections and payouts tailored to Indian exporters and startups by offering flat, competitive fees with no hidden forex markup and faster settlement time (often within 24 hours). It also streamlines regulatory compliance, specifically aligned with Indian foreign exchange regulations.
Compared with Revolut, which provides extensive personal and business banking features like multi-currency wallets, virtual and physical cards, and team expense management, Xflow’s strength lies in its business-centric approach for Indian businesses of all sizes. Even if Revolut’s functionalities are richer for startups, it currently lacks support for international transfers out of India, limiting its usability for Indian businesses.
While Wise remains the most globally versatile option, Xflow is emerging as the preferred choice for India-based companies needing cost-effective, compliant, and efficient cross-border B2B payment solutions.
Wise vs Revolut: Pros & cons summary table
Both Wise and Revolut are popular platforms for global business payments, but each offers distinct advantages and disadvantages depending on your business needs. The table below will help you pick Wise or Revolut for international transfers.
| Aspect | Wise | Revolut |
|---|---|---|
| Pros | Transparent fees with real mid-market exchange rates. No monthly fees. pay-as-you-go pricing. Supports over 40 currencies and more than 160 countries. Easy batch payments for vendors and contractors. Strong global reach with local bank details. Robust API and web platform. | Multi-currency accounts with instant currency exchange. Integrated physical and virtual business cards. Advanced team management, spend controls and workflow approvals. Bulk payments and real-time expense tracking. Subscription plans offer scalable features for growing teams. 24/7 customer support on paid plans. |
| Cons | Limited spend management and expense control features. No physical/virtual cards with standard plans. Customer support limited to business hours. No overdrafts or lending options. | Services are currently not available in India, and there’s less clarity and support for business payments in India. Currency exchange markups apply outside free limits. Advanced functions such as larger FX limits, bulk payments, and premium support are only available on expensive monthly plans. Core features behind subscription paywalls. |
Conclusion: Which one should you choose?
When choosing the right cross-border payment platform, you’ve to take into consideration your business size, needs and geographical focus. Wise is an excellent all-rounder that offers transparency, low fees and broad global coverage, which makes it ideal for freelancers and small businesses looking to save on international transfers without monthly fees. Revolut is better suited for startups, though at the cost of subscription fees and limited inbound support from India.
Xflow stands out as a powerful solution specifically for Indian businesses dealing with receiving cross-border B2B payments. With fast settlement times, highly competitive flat fees and automatic digital FIRA, Xflow enables Indian exporters, startups, and SMBs to manage global payments confidently.
Streamline your cross-border payments with Xflow. Visit Xflow’s today!
Frequently asked questions
Currently, Revolut does not support outbound international transfers from India. Indian businesses can receive payments from abroad but cannot use Revolut to send money internationally.
Wise imposes transaction limits (typically up to $10,000 per transfer for India), Xflow currently does not have an upper limit on the amount that can be received, catering well to larger business payments.
Yes. Wise supports integrations with tools like Xero, QuickBooks, and FreshBooks, and Revolut integrates with Xero, QuickBooks, Sage, and HR platforms. But Revolut business accounts and related integrations are not currently available to Indian businesses or residents.
Wise offers email and chat support within business hours. Revolut provides 24/7 support for paid subscribers, including phone support.
Yes, Wise offers free API access for businesses to automate payments. Revolut’s API access is available for paid subscription tiers with extensive automation and team management features.
Take note: Revolut APIs and automation features are currently not available to Indian businesses or residents, as currently, Revolut does not support business banking for businesses registered in India.
