While Revolut and Wise are popular for handling international transfers and digital banking, they may not tick every client’s box. Some users may seek lower fees or more flexible payment options that are not found in those brands. In such cases, alternatives become better suited to provide the right solutions.
It depends on your needs. If competitive fees, personalized support, or broader regional coverage matter to you, business bank account alternatives like Narvi or N26 may be a better fit. Narvi emphasizes a more business-centric approach with clear costs and flexibility for multi-currency accounts, while solutions like Holvi or Vivid integrate banking with freelance invoicing.
Focus on transparent pricing, fast transfers, wide coverage (across the EU or globally), a solid financial institution license, and reliable customer support.
Narvi offers several features to businesses. Its fees are competitive, especially for high-frequency users. It boasts various payment options for domestic and international transfers, giving clients flexibility in every transaction. The platform is also designed to cater to both individual users and businesses.
Narvi offers a business-focused European alternative to Revolut and Wise with transparent pricing, competitive fees, and flexible payment options. It's ideal for some users who seek lower fees and tailored payments solutions.
Wise vs Revolut: What Services Do They Offer?
Wise (formerly TransferWise) offers an easy-to-use platform for people to send money to a preferred destination country with its low transfer fees and transparent exchange rates. Here are a few standouts of a Wise account:
Wise is a digital wallet and doesn't issue a proper dedicated bank account.
It provides users with the mid-market rate. Thus, you can send, receive, hold, and convert money in over 40 currencies across 150 countries.
It offers a multi-currency account that allows individuals to hold nine different currencies, including GBP, EUR, and USD.
Wise issues a debit card (The Wise card), which allows clients to spend in the local currency of their current region. This Wise card helps them avoid the hefty conversion fees that traditional banks charge.
Revolut transcends being a money transfer service. It began with a simple prepaid Revolut card in 2014 and has evolved into a comprehensive financial platform, which now boasts over 35 million customers worldwide. Here are some services its customers enjoy:
Users can access a personal and business Revolut account that allows cryptocurrency trading.
It offers a tiered account system, with customers able to choose from a free standard account to a high-end ultra account (coupled with a Revolut card).
Its mobile app provides advanced budgeting tools for individuals and organizations.
A Revolut account supports 80+ currencies for money transfers and offers fee-free transfers within a set limit for lower-tier accounts.
Recently, Revolut took a few steps closer to becoming a full-size bank, applying for banking licenses in a few jurisdictions. This will change the user experience for Revolut's clients, as the fintech giant is moving away from the agility of a digital bank toward a traditional bank way of operations.In addition to Wise and Revolut, users may prefer platforms like Payoneer or Western Union. Depending on your needs, having a PayPal account or accessing Western Union gives you access a broader range of services. These money transfer services offer competitive interbank rates and exchange rate markups, catering to a wide range of businesses. PayPal is especially useful for freelancers or solopreneurs needing a flexible, no-penalty account. It allows fast bank transfers, both online and in-person. For businesses looking for alternatives to N26 or to handle multi-currency business accounts, having a PayPal account may cover these needs. Conversely, Western Union remains a global leader in international transfers, offering over 50 currencies and multiple payment method options (mobile app, online, in-store). Its Price Estimator ensures transparent fees, though costs vary by destination and transfer type. While exchange rate markups can undercut the mid-market rate, customers have a wide range of options, like bank transfers or cash pickup.
Updated February 25, 2025. Sources checked February 25, 2024.Disclaimer: This Is Not Financial Advice The content of this article is not intended to serve as financial counsel. Make sure to conduct thorough personal research and, when possible, seek guidance from a licensed financial consultant.Authors:
Ayomide Adeleye, a writer with a strong focus on finance and technology who contributes to Narvi on the topics of igaming, cryptocurrency, and banking services.
Valeriya Kushchuk, now Narvi's Digital Marketing Manager, previously a business reporter and marketer in the crypto space.
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Narvi Payments Oy Ab is an Authorized Electronic Money Institution (EMI). Narvi’s EMI license is granted by the Finnish Financial Supervisory Authority (FIN FSA) with the registration number 3190214-6. Narvi’s license is Passportised to all European Union countries.