US business USD to EUR payment test: five providers and a bank example

What the price test found

There were two defensible winners because “cheapest” depends on what the business is counting. Wise had the lowest ongoing transaction cost in this test: its recorded conversion price was $29.47. Revolut Business Grow cost $40 for the month, but the supplier received slightly more euros because the conversion and one international payment remained inside the plan allowances.

For a company opening both accounts for the first time, the result changes. Wise charges a one-time $31 fee for business account details in the United States, taking its first-use total to $60.47. Revolut Grow has no equivalent setup fee in this comparison, so its $40 monthly subscription becomes the lower first-use cost. In later months, Wise moves back ahead if the company makes only this payment and does not need the wider features of a subscription.

That distinction is more useful than declaring one universal winner. A one-off supplier payment, a recurring monthly payment and a finance account used every day are three different buying decisions. The table separates the charge affecting the currency conversion from account-level costs so a business can apply the result to its own pattern.

Why the supplier amount and business cost differ

The supplier amount answers a narrow question: after the conversion and payment pricing, how many euros arrive before any recipient-bank deduction? The business cost answers a broader one by adding a plan or setup fee that may be paid separately. Revolut Grow therefore sends the largest amount in this scenario even though the company spends more on the account than it would on Wise in an established month.

This is common in business banking. A subscription can include cards, expense controls, bulk payments, team permissions or other allowances that have value beyond one transfer. It would be misleading to deduct the whole plan from the supplier’s EUR amount, but it would be equally misleading to hide it when comparing what the company pays.

What sits behind each number

When the result is likely to change

Revolut becomes less attractive when earlier transactions have already used the Grow allowances, while a company using the plan’s cards and finance controls may reasonably assign only part of the subscription to FX. Wise’s percentage can fall at higher eligible monthly volumes. Airwallex may move closer to the leaders when its operating tools replace separate software, but the value of those tools is not counted as a cash saving here.

The payment rail also matters. This test gives Airwallex an eligible local EUR payout and uses SWIFT for OFX. A route that forces SWIFT, incurs an intermediary deduction or reaches the supplier through a different local rail can change both the business cost and the amount received.

Scenario used: US-registered company, $10,000 USD converted to EUR, one supplier bank payment, weekday market hours and no prior monthly allowance usage. Recipient-bank and intermediary deductions are excluded.