Wise vs Revolut for Expats in Spain: Which Should You Use?
Wise or Revolut for British expats in Spain? An honest comparison of exchange rates, transfer fees, regular transfer features and day-to-day banking – based on using both while living in Spain.
By Sarah B. | Updated April 2026 | 8 min read
Both Wise and Revolut are excellent options for British expats transferring money to Spain and managing money across currencies. Choosing between them is not a question of which is better overall – it is a question of which is better for how you specifically use your money.
I use both. Here is the honest comparison based on living in Spain and transferring money from the UK regularly.
The short answer
Use Wise if your primary need is transferring money from the UK to Spain regularly and you want the best, most transparent rate with no weekend markups. Use Revolut if you want a full bank account replacement with a card, spending features and occasional transfers. Many expats use both.
Exchange rates
Wise: Uses the mid-market rate – the real exchange rate you see on Google – every day of the week including weekends. No markup on the rate, ever. They charge a transparent fee (typically 0.4 to 0.6% of the transfer amount) instead of hiding the cost in the rate.
Revolut: Uses the mid-market rate on weekdays with no markup on the standard and premium plans. On weekends, Revolut adds a 0.5% to 1% fair usage fee to protect against weekend market volatility. On the free plan, there are also monthly limits on fee-free currency exchange (currently €1,000 per month on the free tier, after which a small fee applies).
Verdict: Wise wins on rate transparency and consistency. If you transfer money on weekends or in larger amounts, Wise will consistently give you a slightly better effective rate.
Transfer fees
Wise: Charges a transparent fee per transfer – typically 0.4 to 0.6% for GBP to EUR. On a £1,000 transfer, that is approximately £5 to £6. On a £5,000 transfer, approximately £25 to £30. No hidden charges.
Revolut: Free on weekdays up to your monthly limit on the free plan. Premium (£8/month) and Metal (£15/month) plans offer higher or unlimited fee-free exchange. If you transfer frequently in larger amounts, a paid Revolut plan can work out cheaper than Wise’s per-transfer fee.
Verdict: For occasional or irregular transfers, Wise is simpler and cheaper. For high-volume regular transfers on weekdays, a paid Revolut plan can compete.
As a bank account replacement
Wise: Offers a multi-currency account with a UK sort code and account number, an international bank account for receiving payments in euros, and a debit card. It functions well as a supplementary account but was primarily designed as a transfer service. It does not have the full banking features of Revolut.
Revolut: Functions much more like a full bank account. You get a full IBAN, a card, budgeting tools, savings vaults, cashback on some tiers, travel insurance on premium plans, and a more polished consumer app. For day-to-day spending in Spain, Revolut’s app experience is generally smoother.
Verdict: Revolut wins as a day-to-day banking app. Wise wins as a transfer tool.
Regular transfer features
Wise: Offers AutoConvert, which lets you set a target exchange rate and automatically converts when the rate is hit. This is genuinely useful for people receiving monthly pension or salary income in sterling who want to avoid transferring at a bad rate.
Revolut: Offers recurring transfers and rate alerts. Less sophisticated than Wise’s AutoConvert for the specific use case of optimising a monthly income transfer.
Verdict: Wise wins for automating regular income transfers.
Spanish IBAN
Both Wise and Revolut provide a Spanish IBAN (starting ES) that works for SEPA payments. You can use either to receive payments in euros, set up Spanish direct debits, and pay Spanish bills. Neither is a traditional Spanish bank, but for most expat banking purposes the IBAN they provide works fine.
One exception: some Spanish landlords, particularly in older or more traditional rental markets, specifically require a Spanish bank account rather than a neobank IBAN. If your landlord insists on a traditional Spanish bank, you will need to open one separately regardless of which neobank you use.
Side by side comparison
| Wise | Revolut (free) | Revolut (Premium £8/mo) | |
|---|---|---|---|
| Exchange rate | Mid-market always | Mid-market (weekdays only) | Mid-market (weekdays only) |
| Weekend rate | Mid-market | +0.5–1% markup | +0.5% markup |
| Monthly exchange limit | None | €1,000 fee-free | Unlimited fee-free |
| Transfer fee | 0.4–0.6% | Free within limits | Free |
| AutoConvert / rate alerts | Yes (AutoConvert) | Rate alerts only | Rate alerts only |
| App banking features | Basic | Full neobank | Full neobank + insurance |
| Spanish IBAN | Yes | Yes | Yes |
The practical setup for most expats
Most British expats in Spain end up using both. The typical setup:
- Wise for transferring your monthly UK pension, salary or income to Spain – set up AutoConvert to target your preferred rate
- Revolut for day-to-day spending, travel, and as a card to use around Spain and Europe
- A traditional Spanish bank account for anything that specifically requires a domestic Spanish bank
Both accounts are free to open and there is no cost to maintaining both. Open a Wise account | Open a Revolut account.
What to read next
- Best Way to Transfer Money from UK to Spain →
- How to Open a Spanish Bank Account as a UK Expat →
- Moving to Spain from the UK: Complete 2026 Guide →
Some links in this article are affiliate links. Rates and features are accurate as of April 2026 and subject to change. Always check current terms on each provider’s website before opening an account.