Alternatives to Revolut Business in USA (Account, card & payments)
Looking for Revolut Business alternatives, to help you manage your money and make local and international payments?
Smart entrepreneurs know that these days it’s possible to open a business account without being tied to the terms of a traditional bank. Apps and sites like Revolut are often specialists in their field, and can offer business account products which are as safe for your business as a bank would be – but without some of the fees.
But before you choose a business account it makes sense to check a few alternatives to see which may suit you best. There are a few great providers out there but each has its own features and fees – which means different customers may be drawn more to one or another. Here’s a look at some of the best Revolut Business alternatives to consider.
We’ll get into the detail of some of the best sites like Revolut Business in just a moment. First an overview. In our comparison we found that:
- Wise Business – accounts to hold and exchange 50+ currencies with the mid-market rate, international transfers to 70+ countries, from 0.41%
- OFX for Business – hold and exchange 7 currencies, send payments all over the world with no upfront fee, and get currency risk management solutions
- Payoneer – 9 sets of local banking details available, with payment services to 200+ countries and territories
- Skrill – hold and manage 40+ currencies, with lots of great tools for ecommerce sellers and digital businesses
- WorldRemit – send payments to 130 countries, including cash collection options
Why you should consider a Revolut Business alternative
Revolut Business accounts are offered on 4 different plans, from a Standard plan without a monthly fee, to a custom made plan for enterprise level customers. If you choose the no-monthly-fee account plan you’ll get a holding account which can handle around 28 currencies, plus a linked payment card. However, there are very few no-fee transactions, which means you’ll pay fees when you use your account.
Higher tier plans have monthly fees – but also come with extra features, and some no-fee transactions, including currency exchange, international transfers and more.
You might want to consider a Revolut Business alternative if:
- You don’t want to pay an account maintenance fee – but you need more features than are available with the Standard plan
- You need to hold and exchange more than the supported 28 currencies
- You want local banking details for a broader variety of currencies – Revolut supports only GBP and USD for receiving payments using local banking details
- You’re looking for an account with Business API integrations, and don’t want to upgrade to a fee paying tier
- You need a broader range of ways to integrate your account with your ecommerce site, to receive customer payments
Pros of Revolut Business
- Choose your account plan, based on your business needs
- All account plans come with linked cards for easy spending
- Higher tier accounts get cash back on card spend and higher no-fee transaction limits
- Get local accounts in GBP and USD
Cons of Revolut Business
- You’ll need to upgrade to a fee paying account to unlock all the features
- 10 USD fee for incoming and outgoing wires
- If you exceed your plan limits, currency conversion has a 0.4% markup, and there’s a 3 USD international transfer fee
Alternatives to Revolut Business comparison
To help you decide if an alternative to Revolut suits your needs, we’ll describe 5 providers that compare to Revolut across account and money transfer features and fees. We’ve taken into account their speed, transparency, ease of use and price when transferring money abroad, so you can see which suits your business needs.
| Provider | Business Account | Business Money Transfers | Business Debit Card |
|---|---|---|---|
| Wise Business | Hold and exchange 40+ currencies with the mid-market exchange rate Local account details for 10 currencies No maintenance fees Batch payments, accounting integrations and a powerful API | Send to 70+ countries with the mid-market exchange rate and low fees from 0.43% 50% of transfers are instant, 90% arrive in 24 hours | Business debit and expense cards available for business owner and team members |
| OFX Business | Hold and exchange 7 currencies Local account details for 7 currencies No maintenance fees Xero accounting integrations 24/7 phone support | Send in 50+ currencies Exchange rates include a small markup, transfers have no upfront fee Same currency transfers have a flat fee, or a percentage fee, depending on the specific payment | Not available |
| Skrill | Hold and manage 40+ currencies Focused on ecommerce sellers, with checkout, cart and digital wallet payment integrations | Exchange rates include a markup, transfers have no upfront fee | Available |
| Payoneer | Accounts available with 9 different sets of local banking details to get paid in foreign currencies Accounts aimed at digital commerce businesses Access working capital | Make payments to 200+ countries and territories Variable fees apply Exchange rates are likely to include a markup | Not available |
| WorldRemit | Not available | Send to 130+ countries Business payments available in limited circumstances, when approved in advance by WorldRemit | Not available |
Let’s look at what we found out from the comparison table above:
- Wise Business: Wise is a good Revolut alternative because it offers the mid-market rate on all international transfers and 50% of its transfers get to the recipient instantly.
- OFX Business: OFX Business is a good alternative if you like to transact by phone, as there’s a 24/7 support service, plus international transfers with no upfront fee
- Skrill: Skrill is a good alternative if you’re an ecommerce business looking for a holding account which comes with easy ways to get paid by customers around the world, with money transfers that have no upfront fee
- Payoneer: Payoneer can be a smart Revolut alternative to pay people in 200+ countries and territories, with variable fees – plus accounts also come with great features for digital businesses
- WorldRemit: WorldRemit covers 130+ countries – which can make it a good Revolut alternative if your business payment is approved in advance by the provider
Let’s look at these alternatives in more detail. For convenience, we’ll look at alternatives in two sections for business accounts and for business money transfers.
Business Account Alternatives
Business Transfer Alternatives
Business Account Alternatives to Revolut Business
So, there are quite a few apps and sites like Revolut out there, which could suit your business. Which is best for you depends on your personal preferences, and also whether you’re looking for a provider with a business multi-currency account, one which offers easy international transfers – or both. Let’s take a look in more details at the best Revolut Business alternatives from our comparison table.
1. Wise Business Account
Hold and manage 40+ currencies, and switch between them online or in the Wise app using the mid-market exchange rate every time. There are no markups, just low, transparent fees from 0.43% whenever you exchange currencies in your account, send an international payment, or spend on your linked business debit card or expense card.
Use your Wise business account to transact like a local with receiving accounts for 10 currencies, which allow you to get paid fee free from 30 countries. You’ll also get handy business perks like batch payments, cloud accounting integrations, and a powerful API to automate workflow. Accounts can be opened online for a one time, low fee, with no monthly costs and no minimum balance requirements.
Best Features of Wise Business
- Hold and exchange 40+ currencies with the mid-market exchange rate
- Get local banking details for 10 currencies to get paid fee free (for USD, non-wire transfers are free)
- Linked debit and expense cards available
- Add team members and manage their user permissions so everyone has the tools they need to do their jobs
2. OFX Business
OFX is a currency specialist, offering international payments for individuals and businesses, as well as currency risk management products and multi-currency accounts for business owners and ecommerce sellers.
You can get local banking details in 7 currencies, so you can get paid by individuals or through marketplace platforms and PSPs, and use your funds to send payments locally and internationally, with no upfront fee for cross border transfers. OFX has a 24/7 phone service, which sets it apart if you like to talk things through before you make a payment or access currency risk management tools.
Best Features of OFX Business
- Hold and exchange 7 currencies, with local bank details available
- Access currency risk management solutions
- Accounts target ecommerce sellers
- 24/7 phone support available
3. Payoneer
Open your Payoneer account to get local bank details in 9 currencies so you can get paid by customers, or through third party sites. Payoneer targets its services at digital commerce businesses, making this a good Revolut alternative if you sell online. You can send payments to 200+ countries and territories and make payments to other Payoneer customers for free.
Other business friendly perks are available, such as making batch payments and accessing other business support like loans for working capital.
Best Features of Payoneer Business
- Get local banking details in up to 9 currencies
- Access working capital to boost your business
- Accounts come with features aimed at digital commerce businesses
Read our Payoneer Review to learn more.
4. Skrill
If you get paid online through an ecommerce store, Skrill may be a good fit for you. Integrate your Skrill account with your website to accept 100+ local payment methods in multiple currencies. You can hold and manage 40 currencies in your digital wallet, and make rapid bank transfers when you need to.
Skrill accounts come with multilingual customer support, chargeback protection, and a high level of anti-fraud measures across security, detection and prevention.
Best Features of Skrill Business
- Hold and manage 40 currencies
- Lots of different integration options if you’re an ecommerce seller
- Great support and business service access
Read our Skill Review for more info.
Online Business Payment Alternatives to Revolut Business
Maybe you don’t need a full international business account just yet – but you do need to make occasional payments in foreign currencies. There are some great providers to help here too – with fees often lower than those used by traditional banks. Pick the right provider and you’ll also benefit from a bank-beating exchange rate.
1. Wise Business Money Transfers
Wise offers business money transfers to 70+ supported countries, in over 50 currencies. Wise has its own payment network which means it can offer super fast transfer times. In fact, 50% of payments are instant, and 90% get there in 24 hours – perfect if you’re in a hurry.
Set up your transfer online or in the Wise app, and see instantly how much you’ll pay, what the recipient will get, and the rate that applies. You can even access a comparison tool which shows if Wise is the best bet for your transfer – if other providers are cheaper you’ll also be shown, so you can pick the best option for your specific needs.
Best Features of Wise money transfer
- Currency exchange uses the mid-market exchange rate
- Fees from 0.41%
- Fast delivery times – payments can even be instant
2. WorldRemit Business Money Transfers
While WorldRemit works primarily in personal payment services, you can send money on behalf of your business if you get advance approval from WorldRemit. If this suits you, you’ll then be able to access differentiated services which include cash payout options – not normally available through providers which support business services.
Best Features of WorldRemit money transfer
- Cash collection options available
- Good selection of supported countries
- Arrange your payment online or in app easily
3. OFX Business Money Transfers
OFX business payments are aimed at online sellers, small to medium businesses, and companies which need a foreign exchange partner.
Different products and services are available depending on your specific needs, and include international transfers which come with no upfront transfer fee and reasonable exchange rates. Payments can be arranged to 190 countries, and in 50 currencies or more – with a 24/7 service available for customers.
Best Features of OFX money transfer
- 190 supported countries, with 50+ currencies available
- Make your payment by phone if you’d prefer
- No upfront transfer fee, and exchange rate markups can be lower than those used by banks
Wise Business vs Revolut Business
Depending on what your business needs, Wise Business could be a smart Revolut Business alternative. Wise Business accounts have a one time fee to get set up, but there’s no ongoing costs after that. You just pay for the services you use.
All Wise currency exchange uses the mid-market exchange rate, with transparent fees so there are no surprises – plus no fair usage, out of hours and exotic currency fees. Wise accounts also come with local banking details for 10 currencies, which you can use to get paid by customers, marketplace sites and PSPs. As you’ll be receiving a local transfer, there’s often no fee for the sender, making it easier for customers to pay you.
OFX Business vs Revolut Business
OFX Business accounts are targeted to ecommerce sellers and online businesses mainly, with local account details you can use to get paid in 7 currencies. If you need to make a payment, you’ll be able to send money to a broad range of countries, with no upfront transfer fee.
OFX also stands out thanks to its 24/7 phone support option, and the access you’ll get to currency risk management tools.
Key Takeaways on Revolut Business Alternatives
- Wise Business – hold and exchange 50+ currencies with the mid-market rate, get local bank details for 10 currencies and make international transfers to 70+ countries, from 0.41%
- OFX for Business – 7 currencies with local bank details, send payments all over the world with no upfront fee, and get support 24/7 on the phone
- Payoneer – banking details available for 9 currencies, with payment services to 200+ countries and territories
- Skrill – 40+ supported currencies, with lots of great tools for ecommerce sellers and digital businesses
- WorldRemit – send payments to 130 countries, including cash collection options – advance approval may be required for business payments
If you are looking for an alternative for money transfers, personal accounts or cards, our Alternatives to Revolut article might be helpful.
Conclusion: What is the best alternative to Revolut Business?
Moving your business account online is a smart idea for many entrepreneurs. You’ll be able to access and manage your money from home, from the office, or on the go via your provider’s app – and online providers can often offer lower fees and more flexible services compared to regular banks.
Providers like Wise and OFX can support business owners with great digital accounts which can be used to get paid, send money, hold and exchange around the world – perfect if your business is expanding internationally.
Or, if you’re looking for a Revolut Business alternative for money transfers, check out options like OFX, WorldRemit and Wise. Transfers can be made quickly, and often with low fees and a good exchange rate.
Take a look at the different account plans available from Revolut to see if any might suit your specific needs – and compare them against a few alternatives to make sure you get the very best match for you.
FAQs on Revolut Business Alternatives
Which provider is the best to open a business account with?
There’s no single best business account provider. Online and digital business accounts can make sense, as they’re flexible, and can be managed on the move. Often you’ll find they also have lower fees compared to banks. Check out Revolut’s business plans compared to Wise and OFX to see if any quit your specific needs.
What is the best money transfer company for business payments?
The best money transfer service depends on the specific payment you’re making – as well as your personal preferences. Check out a few Revolut alternatives, like Wise, OFX and WorldRemit, to see which works best for you.
