Revolut launched in Canada in 2023 and quickly positioned itself as a Wise competitor for Canadians who want multi-currency accounts and low-cost FX. As of 2026, the two products overlap heavily in surface features but differ in important details: weekend markups, premium-tier requirements, fee structures, and the depth of the receive-currency network. This page compares them on USD/CAD specifically.

The core USD/CAD math

The weekend markup is the gotcha. Currency markets are closed Friday evening to Sunday evening, and Revolut applies an additional 0.5–1% spread to cover the risk that the rate moves before they can execute on Monday. Wise transfers initiated on weekends sit at Wise's standard rate (and execute when markets open) — no weekend penalty.

Worked examples

Pattern: Revolut wins for small, weekday transfers within the free monthly limit. Wise wins for large transfers, weekend transfers, and anyone who doesn't want to track a monthly limit.

Account features beyond FX

Premium tier considerations

Revolut Premium (~CA$10/month) and Metal (~CA$15–25/month) raise the free FX limit and waive some fees. If you regularly transfer CA$2,000–5,000/month in USD on weekdays, Premium pays for itself vs. Standard's overage markups. But Wise's no-tier, predictable pricing makes it operationally simpler — no monthly fee to track, no overage threshold to hit, no plan to manage.

Which one for what

Related reading

FAQ

Within Revolut's free monthly FX limit and on weekdays, Revolut can be cheaper because it offers mid-market with no markup until you hit the limit. Outside those conditions (over the limit, on weekends, or on Standard tier with frequent transfers), Wise's predictable 0.4–0.8% spread usually wins because it has no weekend markup and no tier-based gotchas.
Typically 0.5–1% added to any FX transaction initiated when major currency markets are closed (Friday 5pm ET through Sunday 5pm ET). The markup compensates for the risk Revolut takes holding the position until markets reopen. Wise doesn't add a weekend markup; transfers initiated over the weekend execute at the Wise rate when markets open.
Roughly. Both support major currencies (USD, EUR, GBP, JPY, etc.). Wise has somewhat broader coverage at the long tail (less-common currencies and emerging markets) and provides real receive details in more currencies. For USD/CAD and other major pairs, both are functional.
Limited. The receive-USD functionality available to US Revolut accounts isn't fully replicated for Canadian Revolut accounts in 2026. If you need to receive USD direct deposits (US payroll, US Social Security, etc.), Wise Canada provides USD receive details that work for this purpose.
Both are well-regulated. Revolut Canada operates under Canadian financial regulation (FINTRAC registered). Wise Canada is similarly FINTRAC-registered and is a public company (WISE.L). Both safeguard client funds in segregated accounts. Neither is meaningfully safer than the other for typical retail use.