Revolut vs YouTrip: Full 2024 Comparisons

Gone are the days when you had to carry cash while travelling, thanks to the convenience of mobile multi-currency wallets. With these wallets, you can easily manage foreign currencies and spend overseas without the hassle of handling a lot of cash or hefty bank fees.

The two most common services among Singapore residents are Revolut and YouTrip. These providers similarly offer multi-currency wallets that can be used to spend abroad with fair exchange rates and fees.

In this article, we’ll discuss the comparisons between Revolut vs YouTrip, so you can make better decisions on which to use when you travel abroad.

Here’s a quick overview of what this article covers:

• Introduction to Revolut and YouTrip
• Revolut vs YouTrip Fees
• Revolut vs YouTrip Currency Coverage
• Revolut vs YouTrip Supported Countries
• Revolut vs YouTrip Reviews
• Alternatives to Revolut and YouTrip

Revolut and Youtrip: An Introduction

You can’t compare what you don’t know. So before we move forward to full comparisons between Revolut vs YouTrip, we’ll get you acquainted with them. This will serve as a baseline to gauge which will cater to your travel needs better.

Revolut 

Revolut is an all-in-one finance app that offers services like currency exchange, cards, and international transfers. It runs on multiple plan tiers: Standard (Free), Premium, and Metal, with higher-tier plans that incur additional costs. 

However, starting with a free or standard account should be enough to give you travel convenience. This plan supports currency exchange in 30+ currencies with no additional fees (S$5,  000/month limit, Monday – Friday).

Fees are only incurred if you exceed the monthly limit or make currency conversions one weekends, typically around 1% of your spending. Withdrawing cash in overseas ATMs may also incur some fees.

YouTrip 

YouTrip is a mobile financial platform offering a multi-currency wallet and a prepaid Mastercard. It supports 150+ currencies worldwide, with 10 currencies that can be locked in at the best rates and stored for spending overseas using the Mastercard.

Using YouTrip when travelling abroad is generally fee-free, including card payments, Apple or Google Pay, and ATM withdrawals. However, a few exceptions apply. Fees are incurred for ATM withdrawals exceeding S$400 and topping up YouTrip with a credit card.

Revolut vs Youtrip: Features

Revolut and YouTrip offer different features, with one providing all-in-one finance services and the other focusing on travel cards to use overseas. Which will suit your needs better? Find out their features in the following:

Revolut Features

Revolut is an all-in-one finance app, which means its features cover a wide range of finance needs, including:

Foreign Currency Exchange

Exchanging your money to foreign currencies is made easier with Revolut. Revolut Singapore supports the exchange of your SGD to 30+ currencies, which you can use to spend like a local in 100+ countries.

Here’s how to make currency conversions with Revolut:

• Tap ‘Home’ on the bottom menu.
• Select ‘Exchange.’
• Choose the currencies you want to convert.
• Tap ‘Buy’ to convert your SGD to foreign currency.
• Enter the amount.
• Tap ‘Review Order.’
• Review the order details, including any fees, before completing the transaction

Cards

Revolut offers cards that simplify your transaction needs. You can use a virtual card for secure, one-time use when shopping online and a physical card for more convenient spending while travelling overseas.

For beginner users, cards under the Standard Plan should be enough to cover online shopping or overseas spending needs. There are no monthly fees and you can enjoy fee-free currency exchange of up to S$5,000 per month on weekdays (Monday – Friday).

If you plan on travelling frequently or making higher-value transactions, Revolut has its Premium and Metal cards. These cards offer higher fee-free limits with other perks such as travel insurance and discounted lounge access in 1400+ airports.

International Transfers

Sending international money is made simple and affordable with Revolut. Revolut allows you to send money from Singapore to 150+ countries in 50+ currencies with lower fees and faster processing than traditional bank transfers.

In-App Payment

Revolut simplifies everyday payments with its in-app feature, allowing you to send and receive money with friends and family. You can easily transfer funds via chats, split bills, or send money as gifts for special occasions.

Pockets

Pockets is a new feature for Revolut users in Singapore, replacing the previous Savings Vault. It’s designed for short-term savings, allowing you to save for specific goals on your own or with friends and family.

Flexible Accounts

Flexible accounts provide low-risk, interest-bearing returns, which you can benefit from for long-term goals. There’s no minimum deposit and you can earn interest of up to 5.21% annually, which is paid daily.

Investment

Revolut offers several investment options, including crypto, stocks, and commodities, all of which you can trade in real-time, conveniently on a single platform.

YouTrip Features

As opposed to Revolut which provides a wide array of finance features, YouTrip focuses on providing more affordable solutions users can benefit from while travelling abroad. That explains why YouTrip’s features are more straightforward.

What features do they have? We have listed them in the following:

Foreign Currency Exchange

YouTrip offers favourable foreign exchange rates compared to traditional banks. To use this feature, simply top up your YouTrip balance for free, unless using a Visa Credit Card, which has a 1.5% fee.

As of writing, you can convert your money into 150+ currencies worldwide, with 10 of them stored in your digital wallet. The funds saved in your wallet can be spent abroad using your YouTrip Mastercard.

Mastercard and Virtual Card

YouTrip has you covered with a physical Mastercard and virtual card. The physical Mastercard is the one that you use to spend like a local in 150+ currencies worldwide, as there are no additional fees incurred.

Meanwhile, the virtual card is a tech-savvy solution for your online orders. You can set your virtual card to one-time use, which provides extra layers of security to your main card.

By this, a YouTrip card vs Revolut card differ in terms of their pricing structures. While Revolut provides a fee-free card, it’s only under its Standard account tier, and users of higher tiers are incurred with subscription fees.

Integration with Apple or Google Pay

To further provide seamless money management as you travel abroad, YouTrip has you covered with Apple or Google Pay integration. This feature will provide you with extra convenience with contactless payments.

However, please note that payments with Apple or Google Pay are only available in supported countries. These include Australia, mainland China, Hong Kong, Japan, Macau, and New Zealand, among others.

Revolut vs YouTrip: Pricing Structure

Revolut and YouTrip offer more affordable options for spending abroad, avoiding the high fees charged by traditional banks. However, this doesn’t mean there are no fees at all. We’ll break down the fees for each platform below:

Revolut Pricing Structure

Revolut offers a wide range of features but has a relatively complex pricing structure. Its fees vary by plan, with three tiers available: Standard, Premium, and Metal.

Standard Plan Fees

Premium Plan Fees

Metal Plan Fees

YouTrip Pricing Structure

When compared to Revolut, YouTrip has a more straightforward pricing structure with lower fees as well. Using YouTrip is largely free, with only a few exceptions where small fees apply, as outlined below:

Revolut vs Youtrip: Currency Coverage

Revolut and YouTrip offer the convenience of exchanging your home currency to various foreign currencies, allowing you to transact seamlessly abroad.

Revolut Currency Coverage

For users residing in Singapore, Revolut supports exchanges to 30+ foreign currencies. You can use these funds to make purchases or withdraw cash in ATMs abroad.

Here’s a list of the currencies you can exchange and store in-app:

For currencies that are not supported for in-app exchange, you can still use your Revolut card to transact wherever Mastercard or Visa is accepted, including roughly 150+ currencies worldwide.

However, due to regulatory reasons, you can’t use your Revolut card to transact in certain countries, including Belarus, Crimea, Cuba, Democratic People’s Republic of Korea (DPRK), Iran, Libya, Myanmar, Russian Federation, Syria, Luhansk, Donetsk, Russian controlled parts of Zaporizhzhia and Kherzon, Venezuela, and Zimbabwe.

YouTrip Currency Coverage

Similarly to Revolut, YouTrip also supports in-app exchanges of numerous foreign currencies to keep in your account. You can use the stored funds to make card payments and withdraw cash while you travel.

Here’s a list of currencies you can exchange, with the option to store them in the YouTrip app:

• 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)

Beyond the listed currencies, you can still use your YouTrip to transact with Mastercard merchants. There are no fees for the exchange and YouTrip provides a fair exchange rate as well, covering 150+ currencies globally.

Revolut vs YouTrip: Pros and Cons

Revolut and YouTrip have pros and cons to consider in deciding which aligns best with your needs. Here’s a look at their pros and cons:

Revolut Pros and Cons

YouTrip Pros and Cons

Revolut vs YouTrip Cards: App Ratings

As popular digital wallet platforms, Revolut and YouTrip have been widely used, especially by people seeking a more convenient way to handle transactions abroad.

Some users have also left reviews sharing their experiences while using Revolut and YouTrip. Which have higher ratings? Let’s take a look at the comparisons below:

Revolut Card Ratings

Revolut card has ratings of 4.2 out of 351 reviews.

Final Thoughts: Which is Better?

We have come to an end of our comparisons between Revolut vs YouTrip, and to conclude, there’s no better or worse between the two.

They have different features that cater to personal needs. For example, if you travel frequently and would love to enjoy travel insurance and airport lounge discounts, Revolut Premium or Metal plan may be more suitable.

On the other hand, if you’re a budget-savvy traveller who would like to save on expenses, YouTrip is more likely to cater to your needs better.

And as you’re here looking to find overseas payment solutions, let us introduce you to Instarem. Instarem also offers a travel card, known as amaze card that you can use to transact abroad and collect your cashback rewards.

With an amaze card, your travelling becomes more convenient and affordable. We don’t charge additional fees for overseas payments or ATM withdrawals (until 31 December 2024) and use much more favourable exchange rates than traditional banks.

Travel and save with an amaze card today! Sign up via the Instarem app and start using amaze instantly! It’s totally free.  

FAQs

Is Revolut good in Singapore?

Yes, Revolut offers great services that Singapore residents can use. You can use it to send and receive overseas payments as well as to transact abroad.

Which bank is YouTrip under in Singapore?

YouTrip is an independent financial technology app that is regulated by the MAS. However, users’ funds are deposited into a dedicated customer-segregated account held under DBS Bank Ltd. and Standard Chartered Bank (Singapore) Limited.

Can I use YouTrip for international payments?

Yes, you can use YouTrip for international payments, as long as the merchant accepts Mastercard.

*Disclaimer: This article is intended for informational purposes only. All details are accurate at the time of publishing. Instarem has no affiliation or relationship with products or vendors mentioned.