Rates last updated: 29 October 2026 · How we verify
Revolut vs Wise in Ireland (2026): Fees, IBAN, Protection and Tax Compared
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If you live in Ireland and earn in euro but have family, a mortgage or bills in another currency, you've probably got both apps on your phone. They're not the same kind of company. Revolut is a bank with an Irish branch, Irish IBANs and deposit insurance; Wise is a payment institution that safeguards your money but isn't a bank. That changes what happens to your savings, how they're taxed, and occasionally what an employer says when you give them your IBAN. Here's the comparison we give clients, with fees as published on 29 October 2026.
- Revolut: a bank with an IE IBAN and deposits covered to €100,000; exchange free to €1,000 a month on Standard (open your Revolut account here).
- Wise: a payment institution (Wise Europe SA, Belgium), BE IBAN, money safeguarded but not deposit-guaranteed; mid-market rate with a fee on every conversion, weekends included.
- For tax, Revolut deducts DIRT on its savings; Wise Interest is a fund, so you declare it yourself on a Form 11.
Revolut vs Wise at a glance
- Revolut suits people who want one everyday account with an Irish IBAN, insured deposits and savings with the tax already taken off.
- Wise suits people who convert or send money in many currencies and want a transparent fee on each transfer, any day of the week.
| Revolut (Standard plan) | Wise | |
|---|---|---|
| What it is | Bank: Revolut Bank UAB, Irish branch | Payment institution: Wise Europe SA, Belgium |
| IBAN for Irish customers | IE | BE (Belgian) |
| Deposit protection | Lithuanian scheme, up to €100,000 | None; money safeguarded at other institutions |
| Monthly fee | €0 (paid plans €3.99 to €55) | €0 |
| Card | €7.99 delivery | €7 once |
| Free ATM a month | 5 withdrawals or €200, then 2% (min €1) | €250, then 2.69% |
| Currency exchange | Free to €1,000 a month on weekdays, then 1%; 1% at weekends | Mid-market rate plus a fee on each conversion, same every day |
| Savings product | Instant Access Savings: deposit, 33% DIRT deducted | Wise Interest: money market fund, no tax deducted |
Sources: Revolut Standard fees, Wise card fees and Wise safeguarding. Revolut's paid plans raise or remove the exchange limit; they're in our Revolut review.
Is your money protected?
- Money in a Revolut current account or Instant Access Savings is a bank deposit, covered up to €100,000 per person by Lithuania's scheme.
- Wise says it isn't a bank and its accounts aren't covered by the Belgian deposit guarantee scheme; instead it keeps customer money separate from its own.
- Revolut. Deposits with Revolut Bank UAB, through its Irish branch, are protected under the Lithuanian deposit insurance scheme to €100,000, the same EU-wide limit as the Irish scheme (Revolut). Its funds and investments are not deposits.
- Wise. Wise Europe SA is authorised by the National Bank of Belgium. Customer money is safeguarded: held separately as cash at a bank or in money market funds, so it should be returned to customers if Wise failed, but there's no state-backed guarantee behind it (Wise).
- What we tell clients. Keep the money you need to live on, and any savings, in an account with deposit insurance, and use Wise for what it's best at: moving money between currencies.
Salary and tax refunds: does a Belgian IBAN work?
- Legally, yes: an Irish employer can't refuse a Wise BE IBAN for euro payments, under the EU SEPA Regulation.
- Revenue pays refunds into any SEPA-compliant account; with Revolut's IE IBAN the question never comes up.
- Salary. The Central Bank of Ireland says an employer can't insist on an Irish account and takes complaints at ibandiscrimination@centralbank.ie (Central Bank of Ireland). Wise lists no limit on receiving euro, and SEPA payments in are free.
- Revenue refunds. Add the account to your bank details in myAccount (Revenue); Revenue pays into SEPA accounts and only rules out accounts outside SEPA.
- In practice. A few employers and landlords still query a foreign IBAN. If you'd rather not argue, give them an Irish one: Revolut's is IE, and our guide to bank accounts in Ireland lists the others.
Sending money home: what it really costs
- Revolut Standard: no exchange fee up to €1,000 a month on weekdays, 1% above that or at weekends, plus a transfer fee the app shows before you confirm.
- Wise charged about €5.30 to €7.20 to send €1,000 from a Wise balance to the UK, the US, Poland, India or Nigeria on 29 October 2026.
| Sending €1,000 with Wise to | Fee from your Wise balance | Fee paying by bank transfer |
|---|---|---|
| United Kingdom (GBP) | €5.31 | €7.58 |
| United States (USD) | €5.69 | €8.05 |
| Poland (PLN) | €5.78 | €8.04 |
| India (INR) | €6.16 | €8.52 |
| Nigeria (NGN) | €7.19 | €9.45 |
Starting data (assumptions): Kasia lives in Cork and sends her mother in Kraków €1,000 a month in złoty. She compares Revolut Standard and Wise. Wise's fee is from its Poland page on 29 October 2026; Revolut doesn't publish a fixed fee for transfers to banks abroad, so she checks it in the app each time.
| Scenario | Revolut Standard | Wise |
|---|---|---|
| €1,000 on a weekday | Exchange fee €0 (inside €1,000) + transfer fee shown in the app | €5.78 |
| €1,000 on a Saturday | €1,000 × 1% = €10 + transfer fee | €5.78 |
| €2,000 on a weekday | (€2,000 − €1,000) × 1% = €10 + transfer fee | Fee quoted for €2,000, discounted only above €22,000 |
| €2,000 on Revolut Plus (€3.99 a month) | €0 exchange fee (inside €3,000) + transfer fee | n/a |
For Kasia the rule is simple: on Revolut, convert on weekdays and stay inside the allowance, and compare the app's transfer fee with Wise's quote before she confirms. If she regularly sends more than €1,000, the €3.99 Plus plan or Wise is usually cheaper than paying 1% on Standard. Wise's fees vary by currency and amount, so check the live quote too (Wise Poland).
The money you send isn't income for anyone and isn't deductible. Irish gift tax can in principle reach the person receiving it, but the €3,000-a-year small gift exemption and the exemption for supporting a dependent relative cover ordinary family support. What you can claim is the Dependent Relative Tax Credit and relief on medical bills you pay for relatives abroad: see sending money home from Ireland.
Interest and investing: how each is taxed in Ireland
- Revolut's Instant Access Savings is a deposit: Revolut deducts 33% DIRT and that's normally the final tax.
- Wise Interest and Wise Stocks are funds: nothing is deducted, returns fall under exit tax (38% in 2026, 35% announced from 2027) with an 8-year deemed disposal, on a Form 11.
- Revolut savings. 33% DIRT deducted from the interest, as Revolut states on its tax page (Revolut). Revolut's Flexible Cash Funds have exit tax deducted by the fund instead; both are compared in how Revolut savings are taxed.
- Wise Interest. Your money is invested in a JPMorgan money market fund, and Wise says it's typically not a withholding agent. Its Irish tax page tells you that selling units at a gain is a disposal, that a deemed disposal may occur after 8 years and that you may need to report it on your return (Wise).
- Exit tax rules apply to Wise's funds. A fund regulated in the EU is taxed under the exit tax regime, with no annual exemption; where nothing is deducted, as with Wise, it goes in the offshore funds section of a Form 11 even for PAYE workers. See our exit tax guide.
Our verdict: Revolut, Wise, or both?
- If you only want one account in Ireland, Revolut does more: an Irish IBAN, insured deposits, and savings with DIRT already deducted.
- If you send money abroad often, keep Wise alongside it for transfers and compare the two quotes each time.
- One account for everything: Revolut. Open your Revolut account here, or read the full Revolut review first.
- Frequent transfers in several currencies: Wise for the transfers, a deposit-insured account for your salary and savings.
- Savings with the tax deducted for you: Revolut Instant Access Savings (33% DIRT) or its Flexible Cash Funds (38% exit tax deducted by the fund in 2026); Wise Interest you declare yourself on a Form 11.
- Weekend transfers: Wise, or a Revolut Premium plan or above, which has no weekend exchange fee.
Whichever you choose, add it as your refund account in myAccount and check what you're owed with our tax refund calculator, or read the complete guide.
Related reading
Questions we get asked
Is Wise a bank in Ireland?
No. Irish customers are served by Wise Europe SA, a payment institution authorised by the National Bank of Belgium. Your money is safeguarded, kept separate from Wise's own funds, but it isn't covered by a deposit guarantee scheme. Revolut is a bank, with deposits covered to €100,000 by Lithuania's scheme.
Does Wise give an Irish IBAN?
No. Wise gives Irish customers a Belgian IBAN starting with BE and says it doesn't currently issue local IBANs. Revolut gives Irish residents an IE IBAN.
Can I get paid into Wise in Ireland?
Yes. Under the EU SEPA Regulation an Irish employer can't refuse a euro account in another SEPA country, and Wise has no limit on receiving euro. Revenue also pays refunds into any SEPA-compliant account.
Is Wise Interest taxed in Ireland?
Yes. Wise Interest invests your money in a money market fund, so returns fall under the Irish exit tax rules rather than DIRT: nothing is deducted, and you declare it on a Form 11, with a deemed disposal after 8 years.
Which is cheaper for sending money home, Revolut or Wise?
It depends on the amount and the day. On Revolut Standard, weekday exchange up to €1,000 a month has no exchange fee, but there's a 1% fee above that and at weekends, plus a transfer fee shown in the app. Wise charged about €5.80 to send €1,000 to Poland on 29 October 2026, any day. Compare both quotes before you send.
Referral links. Some links on this page are referral links: if you open an account through one, Irish Tax Mate may receive a reward from the provider, at no cost to you. It never changes what we write. We're a tax agent, not a bank or a financial adviser, and we compare accounts on fees, deposit protection and tax.