Currency Exchange Rates: Revolut -v- N26

Revolut offer interbank exchange rates while N26 uses MasterCards exchange rates with no markup. I’ve been using Revolut for years now and am a big fan. I’ve recently moved my current account completely over to N26 Black so was interested to see how the exchange rates compared between Revolut and N26.

I have only made three comparative transaction with both Revolut and N26 so it is not exactly an exhaustive study. In two of the three transactions N26 was cheaper but they were all very similar prices.

Date Amount Revolut N26
Friday 27th $4.99 €4.67 €4.66
Sunday 29th £144.95 €170.93 €170.30
Tuesday 31st £5.00 €5.81 €5.87

At these price differences I’m no longer going to use my Revolut card instead use my N26 Black card for currency conversions with my Revolut Card as my backup. I haven’t tried out ATM withdrawal conversion rates yet with N26 but will try and do so soon. Overall, while there are some rate differences between Revolut and N26 they’re not big enough to really worry about – both will save you considerable money compared to using your standard Irish Bank debit or credit card.

In the interest of full-disclosure, links to N26 are affiliate links. Should you click through to N26 via my affiliate link and sign up to their bank account I will receive a small commission payment. These affiliate payments have no impact on my reviewing of the product. If you believe I have been influenced by the potential commission when reviewing a product please call me out. 

8 Replies to “Currency Exchange Rates: Revolut -v- N26”

  1. Thanks for posting this comparison. I’ve been using Revolut for a while now, mostly for overseas online purchases, and also recently signed up to N26. Which would you recommend for a day-to-day bank account? Are there any limitations on either of them?

    1. N26 is a full-featured online-only current account while Revolut isn’t really. So if you are looking for a day to day bank account it would have to be N26. The only limitations is that it is online only so no cash/cheques. Also customer support is not 24/7 so if your card stops working you will have to wait for CS to open for support. I’ve been using it as my main bank account and have been very happy with it to date.

      1. The main advantage of Revolut is the ability to block and unblock the card in the app. You can also block specific features, like online payment, contactless or magstripe.

        1. N26 allows you to lock and unlock the card as well. There are also options for disabling payments abroad, online payments and ATM+NFC payments. You can choose a daily withdrawal and payment limit too.

  2. Hi, have you gotten around to testing ATM withdrawals yet? Planning to move to Thailand for a couple of months, deciding between N26 or Revolut…

    1. Yes I have. I used N26 extensively in Nepal (and lesser extent Turkey). I have the black card so don’t get charged the 1.7% conversion fee for ATM withdrawals. I did well over 5 withdrawals in a month and the €2 ATM fee did not apply to foreign withdrawals contrary to what some say. You can read more about how much N26 saved me here.

  3. Revolut is cheaper than N26 when it is about bank transfer between different valuta, for example if you want to transfer from your Revolut EUR-account to a foreign account in SEK-account/GBP-account. it is still the interbank exchange rates without any markup or fees (except for weekends, where it applies a 0.5% markup). See Revolut transaction charges

    N26 on the other hand uses Transferwise for international bank transfers, this although using the interbank exchange rates, are subjective to Transferwise Fees! Which are not to neglet, they amount to around 0.034%-1.4% depending on the amount you transfer. For example if you send 100€ to a british bank account you pay 1.29 Eur in fees to transferwise, this is 1.29% in fees! If you use revolut, there will be totally free and just the same best exchange rate.

    So, both Revolut and N26 have their niche in the market. I would say, use N26 for cash withdrawals, you have 5 frees with no limit per month. Use Revolut for spending via card online or abroad and for international money transfers. Have both and use them for what they are best at.

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