Zing vs Wise vs Revolut: A Comparison of Fees, Speed, and More

Wise is the oldest of our three contenders. Originally called TransferWise, it’s been around since 2010, launched by Estonian businessmen Kristo Käärmann and Taavet Hinrikus. As migrants who had to move money across borders and between currencies, they realised the remittance services provided by banks were unnecessarily expensive and complicated.

Wise’s goal was to make international payments fast, convenient, and affordable, with a multi-currency account for doing business without borders. Today, over 16 million people have used Wise, and transfers total over $6 billion every month. The company has even introduced a card and an investment account.

Revolut came along in 2015 to challenge Wise with an app that would let users handle all their money matters in just a few taps. Founders Nik Storonsky and Vlad Yatsenko raised millions from investors and Revolut quickly rose to become the app of choice for money-minded millennials.

Today, Revolut has over 35 million users and serves more than 150 countries. It’s also diversified into a variety of innovative niches, from crypto and metal trading to holiday bookings.

Zing is the new kid on the block—it only launched in January 2024. It’s already tipped to be a major contender, though, as it’s part of the HSBC Group, which has decades of experience in international payments.

The app provides money transfers, currency conversion, and a multi-currency card. So it doesn’t have as many bells and whistles as its competitors, plus it’s only available in the UK, for now. But as Zing expands globally and introduces more features, it’s certainly one to watch.

The costs of using the different apps can be hard to compare. All three use the mid-market exchange rate, but you’ll get a worse rate on Revolut if you send money at the weekend due to the markup.

If you want to send money to other app users or domestically in the same currency, this is free on all three apps. Comparing the international transfer fees gets a little more complicated as they all use different fee structures.

Zing applies a currency conversion fee, which is 0.2% for any transaction.

Meanwhile, Wise’s fee structure comprises a fixed fee and a variable fee. The variable fee starts from 0.42% but can be significantly higher for some less common currencies. The fixed fee also varies by currency. It can be as little as £0.21 for EUR but as much as £4 or £5 for the most exotic currencies.

Revolut charges a variable fee for international transfers. It’s just 0.15% for many currencies but can be as much as 1-2% for a handful of exotics.

For more than half of the currencies available on Zing, Revolut’s variable fee is the same or lower. However, Revolut's slightly worse exchange rate and the minimum fee for some routes meant that Zing actually worked out cheaper in all the scenarios we tested.

Wise is third as its variable fee of at least 0.42% is higher than both in most cases. However, if you’re sending money at the weekend, Revolut’s exchange rate markup would make it the most expensive option. Wise also beats Revolut on very small or large transfers.

	ZING	WISE	REVOLUT
MONTHLY FEE	None	None	Free/£3.99/£7.99/£14.99/£45
ADDING MONEY	Free	Free	Free
CARD ISSUANCE	Free	£7	Free + delivery charge
ATM WITHDRAWAL	Free domestically (1 free international withdrawal per month, then £2)	Free up to £200 per month, 1.75% after	Free up to £200 per month, 2% after

In terms of other fees, Zing is the cheapest option for card issuance, but it could wind up costing you more on cash withdrawals abroad unless you’re withdrawing significant amounts.

Winner:

Zing. Which app is cheapest will depend on exactly what you’re doing with it, but if you’re sending money abroad, Zing saves you the most money in all the scenarios we tested. The only time it is beaten on fees is for ATM withdrawals abroad.

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	Revolut Read Review	8.5	Visitrevolut.com

Transferring to other app users should be pretty instantaneous on any app, but otherwise, the speed depends on the currency, destination, and method.

On Zing, domestic transfers in the same currency will arrive the same day or the next working day but could take up to 4 working days when currency conversion is involved. Sending euros or pounds to the EEA should also arrive the same or the next day, but other international transfers could take 3-5 working days.

• For more options, visit our collection of the best euro and US dollar accounts for UK residents.

Zing is more limited than its competitors in terms of the range of payment and transfer methods it supports, as well as the number of currencies. The limits it places on balances and transfers are also significantly lower.

Wise promises instant or same-day transfers on many popular routes. You could send money from GBP to EUR in a couple of hours, HKD in a matter of minutes, or even INR in seconds. However, some payments can take up to 3 business days.

Revolut can make domestic GBP transfers in a couple of hours with Faster Payments, but they’ll take up to 1-3 business days with CHAPS or BACS. EUR transfers can be instant where the SEPA Instant Credit Transfer is supported or up to 2 business days where it isn’t. Although transfers in INR, IDR, MYR, and PHP can be processed in a single business day, other international transfers can take up to 5 business days.

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	Wise Read Review	9.2	Visitwise.com

Wise and Revolut both score highly with customers. Wise users praise its ease of use, payment notifications, transparency, and responsive customer service team. Rare criticisms include issues with integrating accounting software.

Users of Revolut also found the app intuitive and the customer service friendly. They also appreciated Revolut’s extra features for saving, budgeting, and investing. The odd complaint was about additional fees and the lack of a web platform.

As Zing is such as new app, it hasn’t garnered much customer feedback yet, making it difficult to compare. The lack of a support phone number puts it behind its competitors. You can use the in-app chat at any time to get support from a chatbot.

When we tested Zing’s chat feature, we were put through to a human straight away, but it then took the human over half an hour to provide an answer that wasn’t wholly satisfactory. However, these may well be teething problems that will soon be ironed out.

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	Wise Read Review	9.2	Visitwise.com

All three apps are registered Electronic Money Institutions that are regulated by the Financial Conduct Authority in the UK. Wise is also regulated in the US, EEA, and a number of other countries.

The security features offered by the apps are pretty similar. Both Wise and Revolt display all their fees on their website. Wise is slightly better in this regard as you can enter specific transfer details on the website to find out how much it would cost without even creating an account. Wise will also show you what other providers would charge, even if they’re cheaper.

On the Revolut website, you have to hunt around a little more to work out what fees you’d incur. With Zing, on the other hand, the website just tells you that the transfer and currency fees vary, which isn’t very helpful. You’ll have to actually create an account and put your transfer details into the app if you want to see the fees.

Trust is built by reputation and Zing hasn’t been around long enough to build one. However, the fact that it is part of the HSBC Group certainly inspires confidence. Wise and Revolut have both been around for a number of years and built trust with their customers.

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	Wise Read Review	9.2	Visitwise.com

The competition is pretty stiff here. All these apps are designed to be quick and easy to use and succeed in their aim. You should be able to create and verify your account in a very short time on any of the three, but in our experience, Zing was the fastest.

Sending money is fast and straightforward whichever provider you choose. However, Wise and Revolut have more features and transfer options than Zing, which inherently makes them a tad more complicated.

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	Zing Read Review	8.3	Visitzing.me/

Although it may launch more features in the future, Zing is currently pretty stripped back, offering just the basic features. You won’t find any unique features on Zing, but you will get the following:

• Multi-currency card – You’ll be able to spend anywhere in the world with a physical or virtual card. You can also manage your card from within the app.

• Scheduled payments – Set up payments you want to make at a future date (this feature isn’t yet live on Zing at the time of writing).

Wise has introduced a few extra features. If you opt for a Wise account, you’ll be able to access the following:

• Interest – Wise users can invest in a fund of government-guaranteed assets to earn daily interest on GBP, USD, and EUR. Revolut users can also earn interest through savings, which are FSCS-protected, but Wise pays more on USD and EUR.

• Business features – Wise’s business account offers additional features such as batch payments, expense tracking, and cards for employees. Revolut also offers these business features, along with payment gateways and analytics.

Revolut has launched a diverse range of new features since its inception. Some of its unique features include:

• Investment portfolio – You can invest in and trade stocks, commodities, and crypto through the Revolut app.

• Insurance – With a paid plan, you’ll be covered for everyday purchases. You can also get insurance for medical care, car hire, flights and luggage, personal liability, and winter sports.

• Stays & Experiences – When you book accommodation and activities through Revolut, you get exclusive rates and up to 10% cashback.

• Splitting payments – You can easily split a bill with a Revolut user at the tap of a button. There’s also a Group Bills feature where you can create a group, message each other, and split expenses.

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	Revolut Read Review	8.5	Visitrevolut.com

Which provider is the cheapest and most efficient will depend on the specific details of your transfer. To give you a better idea of which one might be best for your needs, we’ve compared the rates, fees, and speeds for a few scenarios below.

Overall, Wise comes out on top. It’s built a stellar reputation and has the most currencies. It excels in safety, transparency, and customer service, while also offering the fastest transfers in certain situations.

That doesn’t mean that Wise is the best choice for everyone, though. Revolut is generally cheaper than Wise for transferring moderate amounts, and it has way more features, making it ideal for those who want to meet all their financial needs in one place.

Meanwhile, Zing is the place to go for the lowest fees. It could also be a great choice for less experienced users who prioritise user-friendliness. As the app expands its features, coverage, and rewards, it could even overtake its better-established rivals in some areas.

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	Wise Read Review	9.2	Visitwise.com