Revolut vs Wise in Denmark — which is best for expats?
Revolut and Wise (formerly TransferWise) are the two most popular digital banking options for expats in Denmark. Both offer multi-currency accounts, cheap international transfers, and debit cards — but they work differently in Denmark’s financial ecosystem. The critical questions are: can you link them to MobilePay, can you set one as your NemKonto, and can they fully replace a Danish bank? Here is the detailed comparison.
The short answer
Wise is the better choice for most expats in Denmark. It provides a local Danish IBAN (DK-prefix), can be set as your NemKonto (for receiving government payments), works with MobilePay, and has the most transparent international transfer fees. Revolut is stronger as a spending card and travel companion, with better app features and budgeting tools, but its Danish integration is weaker.
Many expats use both: Wise as their functional Danish bank account (salary, NemKonto, MobilePay) and Revolut as their spending card and currency exchange tool.
Full comparison
| Feature | Wise | Revolut |
|---|---|---|
| Danish IBAN (DK-prefix) | Yes | No (Lithuanian LT IBAN) |
| NemKonto eligible | Yes | No (non-DK IBAN) |
| MobilePay compatible | Yes | Limited (via card, not account) |
| Receive Danish salary | Yes (DK IBAN) | Yes, but employer may question LT IBAN |
| DKK account | Yes (free) | Yes (free) |
| International transfers | Mid-market rate + small fee | Good rate + small fee (free tier limited) |
| Card payments abroad | Good (mid-market rate) | Excellent (free tier weekday) |
| ATM withdrawals | DKK 3,000/mo free, then 1.75% | DKK 3,000/mo free, then 2% |
| Monthly cost | Free (no tiers) | Free / DKK 55 (Plus) / DKK 100 (Premium) |
| App quality | Clean, functional | Excellent — budgeting, crypto, stocks |
| Customer support | Chat (slow but reliable) | Chat (faster on paid plans) |
| Deposit protection | Safeguarded funds (not FDIC/bank deposit guarantee) | EU banking licence (Lithuanian deposit protection up to €100,000) |
Wise — the Denmark-friendly option
Wise’s biggest advantage for Denmark is the Danish IBAN. This DK-prefix account number means it is treated as a Danish bank account by employers, government systems, and MobilePay. You can set it as your NemKonto (the account where SKAT sends tax refunds, kommunen sends boligstøtte, and your employer pays your salary if they use NemKonto for payroll).
Wise charges transparent, low fees for international transfers — typically 0.4–0.7% depending on the corridor. There are no monthly fees, no hidden markups, and the exchange rate is always the mid-market rate. For sending money home, Wise is consistently the cheapest option.
Revolut — the spending powerhouse
Revolut’s app is superior — budgeting tools, spending analytics, savings vaults, and access to crypto and stock trading. Card payments abroad on weekdays use the interbank rate with zero markup (on the free tier; weekend rates include a small markup). For travel and daily spending, Revolut’s card is hard to beat.
The limitation in Denmark is the Lithuanian IBAN. While legally valid throughout the EU, some Danish employers’ payroll systems flag non-DK IBANs, and NemKonto registration requires a Danish account number. MobilePay integration is possible via card linking, but it is not as seamless as with a Danish bank account or Wise.
MobilePay — the dealbreaker
MobilePay is Denmark’s universal payment app. Everyone uses it — splitting restaurant bills, paying at flea markets, collecting money for shared gifts, and increasingly for online purchases. You cannot function socially in Denmark without MobilePay.
Wise’s Danish IBAN connects to MobilePay directly, just like a traditional Danish bank. Revolut can link to MobilePay via debit card, which works for sending money but may not support all MobilePay features (such as receiving business payments or MobilePay subscriptions).
Setting up NemKonto
NemKonto is the bank account the Danish government uses to pay you — tax refunds, boligstøtte, feriepenge, dagpenge, and other benefits. You set it up at nemkonto.dk using MitID.
Wise’s DK IBAN works as a NemKonto. Revolut’s LT IBAN does not. If Revolut is your only account, you will need a Danish bank account for NemKonto. This is one of the main reasons many expats open a Wise account even if they prefer Revolut for daily use.
Receiving your salary
Most Danish employers pay salary via bank transfer to your registered account. With Wise’s DK IBAN, this works identically to a traditional Danish bank. With Revolut’s LT IBAN, some employers’ payroll systems may require manual override or question the non-Danish IBAN. In practice, it usually works — but expect an awkward conversation with HR.
Can Wise or Revolut replace a Danish bank entirely?
Wise: Almost. DK IBAN, NemKonto, MobilePay — the major Danish integrations work. The gap is mortgage applications and loan products, which require a traditional Danish bank relationship. If you are renting and do not need credit, Wise can be your only account.
Revolut: Not quite. The LT IBAN creates friction with NemKonto and some employers. Revolut works brilliantly as a secondary account for spending, travel, and international transfers, but most expats still need a Danish bank account (Wise or traditional) alongside it.
Wise as your primary Danish account — receive salary, NemKonto, MobilePay. Revolut as your spending card and international tool — daily payments, travel abroad, currency exchange. This combination covers everything and costs nothing in monthly fees.
When to use which
- Use Wise for: Receiving salary, NemKonto, MobilePay, sending money home, paying Danish bills
- Use Revolut for: Daily card spending, travel abroad, weekend spending in other currencies, budgeting, splitting bills with the card
- Use a traditional Danish bank for: Mortgage applications, business banking, if your employer absolutely requires a Reg.nr + Kontonummer format