Revolut Singapore vs YouTrip Full Comparison - 2024
Revolut calls itself a financial super app, with tools for managing your money across currencies, budgeting, and spending. YouTrip describes itself as a multi-currency travel wallet and money changer app, offering ways to spend, change and store currencies for free. But which is better?
This guide covers all you need to know about whether Revolut or YourTrip is cheaper, which is faster, and which is easier to use. We’ll also show a side by side YouTrip vs Revolut feature comparison, and introduce some alternatives like Wise - so you can pick the right one for you.
Summary: YouTrip can be a handy tool for people looking for a travel-focused way to hold and exchange major currencies, or spend and make cash withdrawals around the world. However, Revolut offers a broader range of account services, and more currencies, which may mean it appeals to more customers.
Revolut vs YouTrip in Singapore: The important bits
| Revolut | YouTrip | |
|---|---|---|
| Monthly account fees | Standard plans have no monthly fee. Other account tiers cost from 9.99 SGD to 19.99 SGD/month | Free |
| Rates | Revolut exchange rate is available up to account limits, fair usage fees apply after that, of 0.5% - 1% Out of hours fees of 1% may apply | YouTrip exchange rate with no additional FX fee |
| Transfer fees | 0.4% of transfer value for local currency transfers (eg. USD to the US) 5 SGD - 9 SGD for foreign currency transfers (eg. USD to the UK) | It’s free to send money to other YouTrip users International bank transfers are not available |
| Speed | Transfers to Revolut accounts may be instant International bank payments take 5 working days | Transfers to YouTrip accounts may be instant |
| Service | Online, in app and by phone | Online, in app and by phone |
| Safety | Fully regulated and licensed | Fully regulated and licensed |
| Reviews | Listed on Trustpilot - 4.1 star, Great, 158,000+ reviews | Listed on Seedly.sg - 4.5 star, 1100+ reviews |
As you can see - both Revolut vs YouTrip have their own unique features and selling points. You’ll need to examine the difference between YouTrip and Revolut for the features that matter to you, to pick one. It’s worth also comparing other providers on the Singapore market, such as Wise. Wise uses the mid-market exchange rate and low fees from 0.33% when you send or spend in a foreign currency.
Here’s a summary of how YouTrip vs Revolut shaped up:
Monthly account fees: Revolut customers can open an account with or without monthly fees. YouTrip has no monthly account fee
Rates: Revolut sets its own exchange rate, and charges fair usage and out of hour fees in some cases. YouTrip has its own rates which are available in the YouTrip app
International transfer fees: Revolut international bank payments cost 0.4% if sent using a local currency, and 5 SGD - 9 SGD for foreign currency payments. YouTrip offers free transfers to other customers using the same app
Speed: Transfers to other app users are instant. Revolut bank transfers can take 5 working days
Service: Both providers offer service online, in-app and by phone
Safety: Both providers are fully licensed and regulated
Reviews: Revolut gets a Great review rating on Trustpilot with over 158,000 reviews listed. YouTrip isn’t on Trustpilot, but does get a 4.5 star review on Seedly, with 1100 reviews posted
Revolut Singapore vs YouTrip: side by side feature comparison
| Feature | Revolut | YouTrip |
|---|---|---|
| Access and manage your account | Online and in-app | In-app only |
| Send payments to | Other Revolut users, plus bank accounts in 200+ destinations | Other YouTrip users, in 10 currencies |
| Currencies available for holding and exchange | Available for 30+ currencies | Available for 10 currencies |
| Debit card available | ✅ | ✅ |
| Spend with your card in | 150 currencies | 150 currencies |
| Budgeting features | ✅ | ❌ |
| <18 accounts | ✅ | ❌ |
| Extras like travel insurance | ✅ | ❌ |
| Fully licensed and regulated | ✅ | ✅ |
So, to summarise:
Both Revolut and YouTrip offer international accounts with linked cards - Revolut has more currencies compared to YouTrip
Both providers are intended to be used in-app, but Revolut does also offer desktop site access
Revolut international payments can be made to other Revolut accounts, or to bank accounts, YouTrip customers can only send money to other YouTrip accounts
Revolut offers other account features like saving and budgeting tools, insurance on some accounts, and accounts for kids
Both providers are fully regulated
YouTrip’s services are built with a focus on travel and online shopping with international retailers. You can’t send money to bank accounts from your YouTrip account, for example - but you can use your card for spending and withdrawals around the world.
Revolut account features cover more types of service, like budgeting and saving, as well as international transfers to regular bank accounts. If that’s what you need, Revolut can offer a more intuitive and cheaper service than traditional banks and investment brokers.
Revolut Vs YouTrip: Pros and cons
Still not sure on the decision between Revolut vs YouTrip? Let’s take a spin through some pros and cons to consider. Plus we’ll touch on alternatives such as Wise a little later too, which may suit you if you want low cost overseas spending with the mid-market rate.
| Revolut | YouTrip | |
|---|---|---|
| Pros | ✅Broad range of account features including multi-currency functionality ✅All accounts offer some currency conversion using the Revolut rate and no extra fee ✅Spend with your linked card ✅Send money to other Revolut users or bank accounts around the world | ✅Accounts are free ✅Hold and manage 10 currencies and spend with your linked card all over the world ✅No fee to send money to other YouTrip customers ✅Manage your card in the YouTrip app |
| Cons | ❌Some account features are only available if you pay a monthly fee ❌Transaction fees can apply | ❌You can’t send money to bank accounts ❌There are transaction fees including ATM withdrawal charges |
Revolut vs YouTrip Fees
Revolut and YouTrip work quite differently when it comes to costs. Both offer accounts which have no fee to open, but with Revolut you can also choose to upgrade to an account tier which has a monthly charge to unlock more features. Here’s an overview of the key fees you’ll want to know about:
| Revolut | YouTrip | |
|---|---|---|
| Annual Fees | Standard: No fee Premium Plan: 9.99 SGD/month Metal Plan: 19.99 SGD/month | None |
| Fair usage limit & fees | Standard Plan: S$5,000 limit and a fee of 1% when exceeded Premium Plan: S$15,000 limit and a fee of 0.5% when exceeded Metal Plan: No fair usage limits | No fair usage limit |
| Foreign Transaction Fees | On weekdays: No additional fee within plan limits On weekends: 1% | No additional FX fees |
| Overseas ATM Withdrawal Fees | No fee to plan limit, 2% after that | No fee for 400 SGD in withdrawals per month, 2% after that |
| Top-Up Fees | No fee from bank accounts in Singapore Fees from 0.3% to 2.08% for card top ups | Free from bank accounts, Visa debit cards and all Mastercards 1.5% for Visa credit cards |
| Wallet Limits | 20,000 SGD | 20,000 SGD |
Because the fees you pay with Revolut vs YouTrip are quite different, you’ll need to review the costs for the types of transactions you make frequently. If you’d rather have an account with no monthly fee, YoouTrip may suit - but if you transact frequently and don't mind paying ongoing costs, some Revolut plans may be worth a look. Compare your options with alternatives like Wise - Wise has no ongoing fees and simple, transparent pricing, with currency conversion costing as little as a 0.33%
Revolut vs YouTrip: which is cheaper?
Getting the best value when you spend in foreign currencies is important. The factors which matter can include currency conversion costs, foreign transaction fees and international transfer charges. Let’s work through some important Revolut vs YouTrip costs to think about before you pick.
Revolut Vs YouTrip: Exchange Rates comparison
The Revolut vs YouTrip exchange rate is crucial for cross currency spending or payments. Exchange rates change all the time, but get a bad one, and your money won’t go as far as you expect it to.
Here’s a summary of the difference between YouTrip and Revolut on exchange rates:
Revolut sets its rates with reference to independent sources. You can see the rate for your currency pair on the Revolut website or in their app. You’ll also see a message which states that Revolut’s rates may include fees which cover the costs of exchange. Fees are likely to vary between currencies, and are included in the rate rather than being split out as a separate line. On top of this, you may pay a fair usage or out of hours fee, depending on the time you convert, and your account plan.
YouTrip sets rates based on numerous sources, which are usually within 0.1% of Mastercard’s rates for the wallet currencies. For other currencies you get the Mastercard rate with no YouTrip fee added. You’ll need to download the YouTrip app to see the rates available for the 10 supported currencies.
If getting a great deal on currency conversion is the most important thing to you, compare both Revolut and YouTrip against Wise, which uses the mid-market exchange rate with low fees from 0.33%.
Money transfer Comparison
YouTrip does not offer international bank transfers. However, this service is available from Revolut.
Revolut fees vary depending on whether you’re sending in a local or foreign currency. This means there’s one fee for sending - say - USD to the US, or GBP to the UK. There’s then a different fee for foreign currency payments - that is, sending USD to France, or GBP to Malaysia for example.
Here’s the fees for local currency transfers:
| Recipient currency | Fee | Minimum fee |
| Local currency transfer - eg USD to the US, GBP to the UK | 0.40% | 1.49 SGD |
If you’re sending USD outside of the US, GBP outside of the UK, EUR outside of the Eurozone or CHF outside of Switzerland, the fee is 5 SGD. For all other foreign currency payments, the fee is 9 SGD.
About Revolut and YouTrip
Revolut was set up in 2015, and now has over 30 million customers. Revolut accounts allow customers to hold and exchange 30 currencies, and spend with a linked debit card in 150 currencies.
Revolut offers several different account options which come with varied fees and features to suit different customer needs.
YouTrip was founded in 2018, and operates out of Singapore and Thailand, with multi-currency cards backed by Mastercard, and mobile wallets for 10 currencies.
It’s free to open a YouTrip account, but there are a couple of transaction fees to pay depending on how you use your account.
The Verdict: What’s the difference between Revolut Vs YouTrip?
YouTrip offers handy services for people looking to access a fee-free card to spend and make withdrawals in 10 different currencies. That’s great if you travel or shop online with retailers based overseas. Accounts are free to open and the exchange rates are good. However, there are some transaction fees and limits you’ll want to know about before you sign up.
Revolut on the other hand offers a more comprehensive suite of account options including more currencies, bank transfers, saving and budgeting tools, kids accounts and travel perks. If you’re looking for a broader range of ways to manage your money on the move through a smartphone app, Revolut might suit you better - but you’ll need to pay a monthly fee to unlock all the account features available.
Another alternative is to look at a provider like Wise. Wise supports more currencies than both Revolut vs YouTrip, and doesn;t have any fair usage or out of hours costs, or monthly fees. Instead, you just pay a low transaction fee for the services you need. Currency conversion uses the mid-market rate and low fees from 0.33%.
Revolut vs YouTrip: How do they work?
Revolut offers account tiers with or without monthly fees, and all users can send money to other Revout accounts or bank accounts in a range of currencies.
Once you have an account you can make an international payment with Revolut by taking the following steps:
Log into your account or open the Revolut app
Tap Payments, then Transfers
Tap Send, New, and Add a bank recipient
Enter the bank transfer details for your recipient
Tap on the beneficiary, choose the currency you want to send and add the amount
Add a payment reference
Tap Continue to review your transfer details and estimated arrival time
With YouTrip you’ll be able to send money to other YouTrip customers, in any of the 10 supported currencies. You can do this in the YouTrip app by taking the following steps:
Log into your account no the YouTrip app
Tap the Send Money option on the home screen
Allow the app to access your phone contacts to select a recipient, or enter the phone number of the person you’re paying
Select the currency you want to sed and add the amount
Slide to send once you’ve checked all the details
Revolut vs YouTrip: which is faster?
Sending money from one Revolut account to another - or one YouTrip account to another is instant.
How long a payment sent directly to a bank account will take with Revolut depends on where you’re sending money to and the payment method selected. While some local transfers can be almost instant, some payment methods and destinations can take up to 5 business days
Revolut vs YouTrip Fees: Safety
On safety, there’s no difference between YouTrip and Revolut. Both Revolut and YouTrip are authorised by the Monetary Authority of Singapore (MAS). This makes them as safe as a bank for the services they offer.
Both providers also use a range of automatic and manual tools to make sure customer money is safe, such as verification processes, secure log in procedures, instant transaction notifications and in-app card management.
Revolut vs YouTrip Fees: Ease of use
Creating an account: Create your account online or in app with Revolut, and in-app only with YouTrip
Making a transfer: Both providers allow customers to add funds to their account with a credit or debit card. Revolut also allows payments by bank transfer, and YouTrip accepts PayNow
Ways to send money: Both services let you send money to other users who have the same app. You can also send payments to your recipient’s bank account directly with Revolut
Minimum & maximum amounts: Sending limits can vary by destination country, and based on your account type
Revolut vs YouTrip Fees: Supported currencies
Revolut account holders can hold and exchange 30 currencies, and send payments to countries around the world.
YouTrip supports 10 currencies for holding and exchange -
Singapore dollar (SGD)
US dollar (USD)
Euro (EUR)
British pound (GBP)
Japanese yen (JPY)
Hong Kong dollar (HKD)
Australian dollar (AUD)
New Zealand dollar (NZD)
Swiss franc (CHF)
Swedish krona (SEK)
You can send money to other YouTrip account holders in any of these currencies.
Revolut vs YouTrip: Alternative Providers
Depending on which services and transaction types you need the most, you might find that an alternative provider suits you better than either Revolut or YouTrip. Here are a few popular options to consider:
Wise
Wise customers can open accounts online or in app to hold and exchange 40+ currencies. Send foreign currency payments to 160+ countries, convert your SGD balance to any supported currency, pay for things and make ATM withdrawals abroad with your Wise debit card, and receive money internationally from others.
Wise uses the mid-market exchange rate and low fees from 0.33%. There are no fees to maintain your Wise account and no minimum balance.
OFX
OFX customers can send 50+ currencies to 170+ countries for deposit to a bank account overseas. There’s no OFX transfer fee, and no fee to set up your account in the first place. Instead, OFX adds a small mark up to the exchange rate used to convert your SGD to the currency you need.
OFX does not offer personal customers accounts to hold a foreign currency balance, and there’s no OFX debit card option.
Remitly
Remitly lets you send money to 170+ countries with delivery options including bank or mobile money account deposit, or cash collection. Cash collection and mobile wallet payments are often fast or instant. There are variable fees, depending on where you’re sending money to, and exchange rates include a markup.
Revolut vs YouTrip : Conclusion
If your focus is on having a multi-currency travel account to hold and exchange any of the 10 YouTrip supported currencies, this could be a handy tool. You’ll be able to spend and make withdrawals using your linked card - and there are no fees to open your account in the first place.
However, if you want to get access to more currencies, or you’re looking for a broader selection of services, Revolut might be your better bet. You can open a free standard account to get a pretty good range of features, or upgrade to a fee paid plan for even more ways to manage your money across borders.
FAQ
Both offer free to open accounts, and free ways to send money to other account holders. Which works out cheaper for you will depend on the way you use your account, as both providers have some transaction fees based on the services you choose.
Payments sent from one Revolut account to another, or one YouTrip account to another, are usually instant.
Revolut supports 28 currencies for holding and exchange, YouTrip supports 10.