Wise vs Revolut for a Bulgarian company — which to pick in 2026

For most non-resident founders incorporating in Bulgaria, the fastest route to a working business account is a neo-bank — and the realistic shortlist is Wise Business and Revolut Business. Both work with a Bulgarian OOD or EOOD, both onboard remotely, and both are live within a week of registration. They are not the same product, though, and the right choice depends on how you actually move money.

This is the comparison we walk every client through after they finish registering their OOD.

TL;DR — which to pick

• Pick Wise Business if you invoice clients in multiple currencies (EUR, USD, GBP), need real local IBAN/account details in each, and care most about transparent FX at the mid-market rate.
• Pick Revolut Business if your team needs cards, expense management, sub-accounts, and a polished day-to-day banking UX inside the EU.
• Pick both if your budget allows — they cost almost nothing to keep open and cover each other's weak spots. This is what most of our clients end up doing.

Eligibility for a Bulgarian OOD / EOOD

Both providers accept Bulgarian limited liability companies (OOD and EOOD). The director and ultimate beneficial owners must KYC personally. Neither requires a Bulgarian resident director, but both will ask for:

• Certificate of incorporation from the Bulgarian Commercial Register (Търговски регистър)
• UIC / Bulstat number
• Articles of Association
• Passport and proof of address for every UBO with ≥25% ownership
• A clear, specific description of the business activity

Generic "consulting" or "internet business" descriptions get flagged. Be specific — the same rule applies as with local banks (see opening a Bulgarian business bank account as a non-resident).

Fees and pricing (2026)

	Wise Business	Revolut Business
One-time setup	£45 (~€52)	Free (paid tiers available)
Monthly fee	€0 on the base plan	€0 (Basic) / €19 (Grow) / €79 (Pro)
Receive EUR (SEPA)	Free	Free
Send SEPA	€0.20–€0.40 typical	5 free/month on Basic, then €0.20
FX	Mid-market + ~0.43%	Mid-market on weekdays, +1% weekends, +0.6% above plan allowance
Local IBANs	EUR, GBP, USD, AUD, CAD, HUF, RON, SGD, TRY	EUR, GBP (USD via wire only on Basic)
Debit cards	1 free, then £3 each	Included; physical + virtual

Numbers move — always confirm on the provider's pricing page before committing.

Multi-currency IBANs — Wise's biggest advantage

Wise gives a Bulgarian company genuine local account details in 9+ currencies. A US client pays your "US account"; a UK client pays your "UK account"; both land in the same Wise balance with no correspondent-bank fees. Revolut's multi-currency support is real but narrower — and on the free tier USD is wire-only, which kills it for US clients who only do ACH.

If more than 20% of your revenue is non-EUR, Wise wins on this alone.

FX rates

Wise is famously transparent: mid-market rate plus a published fee (typically 0.41–0.55%). Revolut is competitive on weekdays inside your monthly FX allowance, but charges a 1% markup on weekends and tacks on 0.6% above the allowance. Heavy FX users pay less on Wise. Light FX users with a Revolut Grow or Pro subscription often come out even or ahead because the allowance and card features bundle.

Cards and team expenses

Revolut wins here, clearly. You get unlimited virtual cards, real spending controls, merchant restrictions, automatic receipt capture, and per-user spend limits — all included. Wise issues debit cards too, but the expense-management layer is minimal. If you have a team of 3+ that spends on the company card, Revolut Business pays for itself in operational time.

KYC and onboarding speed

	Wise Business	Revolut Business
Application time	15–25 minutes	20–30 minutes
Typical approval	2–3 business days	3–7 business days
Worst case	2 weeks if compliance flags	3 weeks if compliance flags
Video KYC	Sometimes required	Usually required

Both have rejected clients with thin business documentation, missing UBO disclosures, or vague activity descriptions. Treat the application like a real bank file — see the non-resident banking guide for the file structure we use.

What Wise and Revolut are NOT

They are e-money institutions, not licensed Bulgarian banks. Practical consequences for a Bulgarian OOD:

• Capital deposit. You cannot use a Wise or Revolut account to deposit the share capital during incorporation — the Commercial Register requires a temporary capital account at a licensed Bulgarian bank. We use UniCredit Bulbank or DSK for this, then move operations to the neo-bank.
• Cash deposits. Neither accepts cash. If your business handles cash, you need a local bank.
• Some local payment obligations. A handful of Bulgarian counterparties (state agencies, certain notaries) prefer or require a local IBAN starting with BG. Wise and Revolut issue Belgian / Lithuanian IBANs — under SEPA they're equivalent in law, but in practice you'll occasionally meet friction.

For most non-resident founders the answer is to open one local Bulgarian bank account plus one or both neo-banks. See the full pricing for our managed setup — banking introductions are included from the Complete Setup tier upward.

Decision matrix

Your situation	Recommendation
Solo founder, EU-only clients, low volume	Revolut Business Basic
Solo founder, US/UK clients	Wise Business
SaaS with global subscribers, Stripe payouts	Wise Business (Stripe pays into local USD/EUR effortlessly)
Agency with 3+ team members on the card	Revolut Business Grow + Wise as backup
E-commerce, multi-marketplace payouts	Both. Wise for FX, Revolut for cards and expense control
Crypto-adjacent operations	Neither in isolation — talk to us first. See crypto licensing

How to open them (practical order)

1. Finish Bulgarian company registration and receive your UIC.
2. Open a temporary capital account at a Bulgarian bank for the share capital deposit (we usually use UniCredit Bulbank).
3. Apply to Wise Business the same day registration completes — it's the faster of the two.
4. Apply to Revolut Business in parallel if you want cards and expense management.
5. Convert the capital account to a full operating account at the Bulgarian bank for cash, BGN payments, and the rare BG-IBAN counterparty.

By day 14 most of our clients have a Wise account live, a Revolut card in hand, and the Bulgarian local account fully operational.

Common mistakes

• Treating the neo-bank as the primary banking relationship. Account freezes happen — usually resolved within days, but you do not want this to be your only account.
• Skipping the local bank entirely. The capital deposit step requires it, and a BG IBAN occasionally matters.
• Vague activity descriptions on the application. Same rule as local banks — be specific.
• Mismatched UBO disclosure. What you tell the Commercial Register and what you tell Wise / Revolut must match exactly. Discrepancies trigger compliance review.

Next steps

• Step-by-step OOD registration — banking starts at step 9
• Opening a Bulgarian business bank account as a non-resident — the local-bank side of the equation
• VAT registration in Bulgaria — once banking is live, this is usually next
• Pricing — managed banking setup is included from the Complete tier
• Book a free consultation