Wise vs Revolut Business Account for a UK Company (2026)

Wise Business is an electronic money account that you pay for once and then per transaction. Revolut Business is a bank account in the UK with a monthly plan that bundles allowances for exchange and transfers. Wise publishes no rule on where directors live, while Revolut requires one director or beneficial owner in the UK, the EEA or Switzerland.

All figures are as listed on each provider UK pricing page and help centre on 15 November 2026. Both change prices and rules from time to time, so check their current pages before you decide. For a single provider review, read Wise Business for a UK Ltd or Revolut Business for a UK Ltd.

Revolut is a bank in the UK and Wise is not. Revolut says Revolut Bank UK Ltd is authorised by the Prudential Regulation Authority and regulated by the PRA and the FCA. Wise says it is authorised by the FCA under the Electronic Money Regulations 2011 for the issuing of electronic money, so it is an e money institution.

The FCA Financial Services Register agrees with both statements. On 15 November 2026 it showed Revolut Bank UK Ltd, reference number 981170, with the status Authorised since 25 July 2024, and Wise Payments Limited, reference number 900507, as an Authorised Electronic Money Institution since 7 June 2018.

The difference matters for protection. Revolut says funds deposited with Revolut Bank are protected by the FSCS if the business is eligible, up to £120,000 for a separate legal entity such as a limited company. It lists excluded categories, including financial institutions, investment firms and insurance undertakings. Revolut also says funds in its older e money accounts were safeguarded by Revolut Ltd, and that safeguarding stops once a business account has been transitioned to the bank.

Wise balances are safeguarded instead. The FCA says electronic money institutions must put customer money in a separate safeguarding account with a bank or protect it with an insurance policy or similar guarantee, that this money is not protected by the FSCS, and that if the firm fails you should get most of your money back, though it may take some time and may not be the full amount. Our guide to bank vs electronic money accounts explains both systems.

Wise is the more realistic option when every director lives outside Europe. Revolut says at least one director or beneficial owner must reside in the UK, the EEA or Switzerland. The Wise help pages we read today state no such rule, but they do require a physical trading address in a country Wise Business supports.

Revolut has two more conditions. The company must be registered and able to prove its physical presence in the UK or the EEA, and the person who applies must reside in a supported country. For a UK or EEA company that list is the UK, the EEA, the United States, Australia, Singapore, India and a few territories such as Gibraltar, Guernsey, Jersey and the Isle of Man. Revolut says applicants elsewhere can still apply and are added to a waiting list.

Wise lists limited and public companies among the businesses it works for. It collects a registered address and a trading address and says it is fine for them to be in different countries. The trading address must be a physical location: Wise says it cannot be a PO Box, a mail forwarding or receiving service, a virtual office, a solicitor office or a business registration agency. Wise does not support UK trusts, some UK limited partnerships, companies with bearer shares, or businesses involved in cryptocurrency, tobacco or adult content.

Neither provider promises approval, and each decides every application on its own checks. If nobody in your company lives in the UK, the EEA or Switzerland, see the wider list in UK business bank account for non residents.

It depends on how much you convert and how many payments you send each month. Wise has no monthly fee: you pay 50 GBP once, then from 0.24% on each conversion. Revolut charges a monthly plan fee and includes exchange at the interbank rate up to an allowance, with 0.6% charged above it.

Two rough examples show where the line falls. A company converting £1,000 a month pays from £2.40 at the lowest Wise rate of 0.24%, while Revolut Basic costs £10 a month and covers that £1,000 at the interbank rate. A company converting £15,000 a month pays from £36 with Wise, while Revolut Grow starts at £30 and covers the full £15,000. The Wise rate is a starting rate that varies by currency, so price your own currency pair on its page.

Wise also says you get a volume discount when you move more than 20,000 GBP or the equivalent in a month. On the Revolut side, the plans page also lists £8 per person per month for the expense management tool.

Both give a UK company local details to get paid and cards to spend. Wise sells account details to receive in 22 currencies inside its 50 GBP fee and receives domestic payments free in nine of them. Revolut supports 25+ currencies with global and local account details on every plan, plus more team and payment tools.

• Wise receiving: domestic payments, meaning not Swift or wire, are free in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD
• Wise cards: the first card is included in the set up fee, cards for team members cost 3 GBP each, and there are no annual card fees
• Wise cashback: 0.5% on eligible card transactions for Wise Business accounts registered in the UK, which Wise says may change
• Wise accounting: connects with Xero, QuickBooks, FreeAgent and more
• Revolut cards: up to 3 physical cards and up to 50 virtual cards per team member, spending in 150+ currencies; one metal card is included on Grow and two on Scale, then £49 each
• Revolut transfers: transfers to other Revolut accounts carry no fee, and bulk transfers to up to 1,000 recipients start on Grow
• Revolut tools: integrations for Xero, Sage and QuickBooks on every plan, the Business API from Grow, and payment acceptance from 0.8% plus £0.02

If you mainly need to hold and convert currencies and pay suppliers, compare Wise with a plan based e money account too, in Airwallex vs Wise Business.

Choose Wise if your directors live outside the UK, the EEA and Switzerland, or if you convert modest amounts and do not want a monthly fee. Choose Revolut if you meet its residence rule, want FSCS protection for eligible deposits, and would use the plan allowances and team tools. Many companies that qualify for both keep both.

1. 1

   Check the residence rule first

   List where each director and beneficial owner lives. If none lives in the UK, the EEA or Switzerland, Revolut says the company does not meet its requirement.

2. 2

   Estimate a normal month

   Write down how much you convert, how many local and international payments you send, and how many cards you need. Price that month on both pages.

3. 3

   Decide how much protection matters

   A bank deposit with FSCS cover and a safeguarded e money balance are different. If you hold large balances, read the protection section above again.

4. 4

   Prepare one consistent set of details

   Use the company name, number and addresses exactly as they appear at Companies House, and make sure every director has completed identity verification.

To see the UK app banks next to these two, read digital business banks compared.