Can non-residents and tourists use Revolut in Canada? : A closer look

If you’re a non-resident or tourist, there is good news—you can use Revolut in Canada as long as it’s available in your home country. But before you dive in and start spending, watch out for foreign transaction fees and potential currency conversion costs.

In this guide, we’ll break down the fees and limits for using Revolut in Canada so you know what to expect before you spend. We’ll also explore Wise as an alternative, which has fees as low as 0.48%¹ at the mid-market exchange rate, but more on that later!

What are Revolut’s fees in Canada?

Revolut offers different account plans, each with its own fees for ATM withdrawals, currency exchange, and international transfers. Here’s a breakdown of the key charges for Standard, Premium, and Metal accounts opened in the US when using Revolut in Canada².

In network ATM withdrawals in Canada

Revolut partners with the Allpoint Network for fee-free in-network ATM withdrawals. If you use an Allpoint ATM in Canada, you won’t be charged by Revolut for withdrawing cash. However, if you withdraw money from any other ATM outside of the Allpoint network, you may incur out-of-network fees² based on your account plan.

Here’s how the limits work for out-of-network withdrawals:

• Standard Plan: A 2% fee applies to all out-of-network ATM withdrawals.
• Premium Plan: Free withdrawals up to $800 per month, then a 2% fee.
• Metal Plan: Free withdrawals up to $1,200 per month, then a 2% fee.

Even with in-network ATMs, it’s always a good idea to check with the ATM provider, as third-party operators may charge their own fees regardless of Revolut’s policy.

What are Revolut’s foreign exchange market hours in Canada?

Revolut’s foreign exchange market hours begin at 5:00 PM EST on Friday and end at 6:00 PM EST on Sunday, which can vary depending on where you are in Canada and your local time zone. Additionally, these hours are affected by Daylight Saving Time (DST), which Canada observes from the second Sunday in March to the first Sunday in November.

Standard and Daylight Saving time periods in Canada³:

• Standard Time: From the first Sunday in November to the second Sunday in March.
• Daylight Saving Time (DST): From the second Sunday in March to the first Sunday in November.

How does the exchange rate change outside of market hours?

• During market hours, Revolut applies the real-time exchange rate as shown in the app.
• Outside of market hours, it adds a 1% markup is applied on top of the exchange rate.²

This means that if you exchange money over the weekend (from 5:00 PM EST on Friday to 6:00 PM EST on Sunday), you’ll pay an extra 1% on top of the exchange rate. If you want to avoid this extra fee, it’s best to exchange currencies during market hours. You could also check out Wise’s mid-market exchange rates instead!

For up-to-date rates, it is recommended check the Revolut mobile app before making a transaction.

Spend like a local with Wise

Wise is designed for global spending, allowing you to pay in over 40 currencies at the mid-market exchange rate with no foreign transaction fees. Unlike banks or payment providers that add hidden markups to their exchange rates, Wise uses the real mid market or interbank rate—the one you’ll find on Google. This ensures you get the fairest exchange rate possible, with low, transparent fees starting from just 0.48%¹ when converting currencies.

With no monthly or annual fees, Wise offers a straightforward pay-as-you-go fee structure, so you only pay for the services you use. A great alternative for international travellers and digital nomads, depending on your country of residence availability, you can order a Wise card in a few clicks, and use it to spend in over 150 countries.

Is it possible to use Revolut with a Canadian bank account?

Unfortunately, residents in Canada can no longer open a Revolut account, as it is not currently available for Canadian customers. This means you cannot link a Canadian bank account to the provider or use it for transactions.

However, if you're looking for a multi-currency alternative, Wise lets you connect your Canadian bank account to easily transfer, hold, and convert money in over 40 currencies.

Finding the right alternative to Revolut in Canada

While Revolut is no longer available for Canadian residents, non-residents visiting Canada can still use their Revolut accounts, provided it’s supported in their home country.

However, there are some limitations, including ATM withdrawal fees and currency exchange markups outside foreign exchange market hours.

If you want a more flexible and cost-effective way to manage your money abroad, Wise could be a good alternative. With no monthly fees, mid-market exchange rates, and low transfer fees starting at 0.48%¹, Wise lets you spend, send, and receive money globally—without hidden charges.

Sources:

1. https://wise.com/ca/pricing/
2. https://assets.revolut.com/legal/terms/Revolut%20Consumer%20Prepaid%20CHA%20FINAL%2026%20August%202024.pdf
3. https://open.canada.ca/data/en/dataset/e6951cc4-ff29-52bf-af41-a162d52b1011
   Sources verified on 21 January 2025