Software Comparison
Revolut Business vs Wise Business - Irish business-banking Software Compared
Choosing between Revolut Business and Wise Business is one of the most common decisions Irish businesses face when evaluating business-banking software. This comparison breaks down everything an Irish SME needs to know, from Revenue integration and GDPR data residency to pricing and ease of use.
Revolut Business is the stronger primary business account for most Irish SMEs - it is a licensed EU bank (Revolut Bank UAB) operating via its Irish branch and issuing Irish (IE) IBANs, with SEPA Instant, multi-currency accounts, and native bank feeds into Xero, QuickBooks, and Sage. Deposits up to €100,000 are protected under the Lithuanian Deposit Insurance scheme. Wise Business is not a licensed bank; it is an authorised electronic money institution regulated by the Belgian National Bank, and it issues Belgian (BE) IBANs rather than Irish ones. Customer funds are safeguarded rather than covered by any deposit guarantee scheme. That distinction matters: Revolut can sit as a primary operating account for an Irish company, while Wise is best treated as a complementary FX layer alongside a main Irish current account. Where Wise wins decisively is FX: near mid-market rates across 40-plus currencies make it the obvious choice for Irish exporters, remote agencies, SaaS companies billing US or UK clients, and freelancers with overseas customers. Both integrate with Xero and QuickBooks, both onboard in days rather than weeks, and neither offers overdrafts, lending, or cash deposits. Neither has Revenue ROS integration or PAYE Modernisation support - these are current account providers, not accounting platforms. For day-to-day Irish banking, choose Revolut; for international FX-heavy billing, choose Wise; many Irish SMEs run both.
Revolut Business vs Wise Business - Feature Comparison
| Feature | Revolut Business | Wise Business |
|---|---|---|
| Ease of Use | Fast online onboarding, typically days not weeks. Modern app and web interface designed for non-banking users. | Fast online onboarding. Clean web and mobile interface focused on transparent FX and multi-currency balances. |
| Irish Compliance (IBAN / SEPA) | Irish (IE) IBAN issued via Revolut Bank UAB Irish branch. Licensed EU bank. SEPA Credit Transfer and SEPA Instant supported. SEPA Direct Debit supported. | Belgian (BE) IBAN issued to Irish businesses - not an Irish IBAN. Authorised electronic money institution, not a licensed bank. SEPA Credit Transfer and incoming SEPA Direct Debit supported. |
| Key Integrations | Direct bank feeds to Xero, QuickBooks Online, Sage, and other major accounting platforms via API and Open Banking. | Direct integration with Xero, QuickBooks, and FreeAgent for automatic transaction sync. |
| Core Strength | Best-in-class all-rounder for Irish SMEs: Irish IBAN, SEPA Instant, multi-currency, strong accounting integrations, fast onboarding. | Near mid-market FX across 40-plus currencies, with local account details in GBP, USD, EUR, AUD, NZD and more - built for international billing. |
| Cloud / Self-Service | Fully digital, self-service signup. No branches, no paper forms. | Fully digital, self-service signup. No branches, no paper forms. |
| Irish Support | Irish support flag is true in our dataset. Support is primarily in-app, not via a dedicated Irish phone line. | Irish support flag is false in our dataset. Customer support is email and in-app, not Irish-based. |
| Scalability | Suits sole traders, freelancers, and SMEs up to around 50 employees. Lacks overdrafts and traditional business lending for larger operations. | Best suited to micro-SMEs and international-facing teams up to around 20 employees. No lending, overdrafts, or cash deposits. |
| Pricing | ||
| Starting Price | €0/month flat | €0/month |
| Free Trial | ✓ | ✓ |
| Irish Compliance | ||
| Revenue Integration | ✗ | ✗ |
| PAYE Modernisation | ✗ | ✗ |
| Irish Bank Feeds | ✓ | ✓ |
| GDPR Data Residency | EU | EU |
| SEPA Direct Debit | ✓ | ✓ |
| Irish IBAN Support | ✓ | ✗ |
| VAT Handling | ✗ | ✗ |
Irish Compliance Comparison
For Irish businesses, compliance with Revenue, GDPR, and local banking standards is non-negotiable. Here is how Revolut Business and Wise Business compare on the requirements that matter most to Irish SMEs.
Revenue Integration
Neither Revolut Business nor Wise Business offers native Revenue Online Service integration. Irish businesses in business-banking may not need this feature directly, but should ensure their accounting software handles Revenue compliance separately.
Irish Bank Feeds
Revolut Business supports SEPA Credit Transfer, SEPA Instant. Wise Business supports SEPA Credit Transfer, SEPA Direct Debit (incoming). Both support the same Irish banks, so bank compatibility is not a deciding factor here.
GDPR Data Residency
Both Revolut Business and Wise Business store data in EU data centres, providing strong GDPR compliance out of the box. Irish businesses can use either platform without worrying about cross-border data transfers to the US or other non-EU jurisdictions.
SEPA and IBAN Support
Both Revolut Business and Wise Business support SEPA Direct Debit and Irish IBAN format. This means you can process euro payments, set up direct debits, and handle bank transfers in the standard European format without any manual workarounds.
VAT Handling
Neither Revolut Business nor Wise Business handles Irish VAT directly. This is expected for business-banking tools - your accounting software should manage VAT compliance.
Pricing Comparison
All prices below are in euro. Pricing can change - we verify vendor pricing monthly, but always confirm on the vendor's website before purchasing.
Revolut Business
Free
- Pricing model: Flat rate
- Free trial: Yes
- EUR pricing guaranteed: Yes
Wise Business
Free
- Pricing model: Flat rate
- Free trial: Yes
- EUR pricing guaranteed: Yes
Both Revolut Business and Wise Business are similarly priced at entry level. The real cost difference emerges as you add users, upgrade plans, or bolt on additional features - so calculate your full annual cost before committing.
Who Should Choose Revolut Business
Revolut Business is the better fit if your business matches one or more of these profiles:
- ✓ Companies that value Irish-based phone and email support
- ✓ Growing businesses with 21-50 employees that need a platform which scales
- ✓ Those who prioritise user satisfaction - Revolut Business has a higher user rating (4.3/5 from 14 reviews via editorial)
Who Should Choose Wise Business
Wise Business is the better fit if your business matches one or more of these profiles:
- ✓ Those who value: near mid-market fx rates across 40+ currencies
- ✓ Those who value: transparent, usage-based pricing
- ✓ Those who value: fast online onboarding
Our Verdict
Revolut Business is the stronger primary business account for most Irish SMEs - it is a licensed EU bank (Revolut Bank UAB) operating via its Irish branch and issuing Irish (IE) IBANs, with SEPA Instant, multi-currency accounts, and native bank feeds into Xero, QuickBooks, and Sage. Deposits up to €100,000 are protected under the Lithuanian Deposit Insurance scheme. Wise Business is not a licensed bank; it is an authorised electronic money institution regulated by the Belgian National Bank, and it issues Belgian (BE) IBANs rather than Irish ones. Customer funds are safeguarded rather than covered by any deposit guarantee scheme. That distinction matters: Revolut can sit as a primary operating account for an Irish company, while Wise is best treated as a complementary FX layer alongside a main Irish current account.
Where Wise wins decisively is FX: near mid-market rates across 40-plus currencies make it the obvious choice for Irish exporters, remote agencies, SaaS companies billing US or UK clients, and freelancers with overseas customers. Both integrate with Xero and QuickBooks, both onboard in days rather than weeks, and neither offers overdrafts, lending, or cash deposits. Neither has Revenue ROS integration or PAYE Modernisation support - these are current account providers, not accounting platforms. For day-to-day Irish banking, choose Revolut; for international FX-heavy billing, choose Wise; many Irish SMEs run both.
Ultimately, the best choice depends on your specific business needs, team size, and priorities. We recommend taking advantage of free trials from both vendors before making your final decision. If you are working with an Irish accountant or payroll bureau, ask which platform they prefer - their familiarity with the software can save you significant time and hassle during setup and ongoing support.
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