Peanut vs Revolut

Better exchange rate, Mercado Pago QR access, and Pix without a CPF. No weekend markups.

Get Early Access

Revolut is a solid neobank with a multi-currency account, global debit card, and features like stock trading and savings vaults. If you're spending at card terminals around the world, Revolut makes sense. But if your goal is paying locally in Argentina or Brazil — where QR codes dominate and local payment systems are the norm — Peanut offers a better exchange rate and direct access to Mercado Pago and Pix that Revolut can't match.

Quick Comparison

Exchange Rate Comparison

The biggest difference between Peanut and Revolut in Argentina is the exchange rate. Revolut uses the interbank rate plus a markup — essentially the same MEP rate your credit card gives you. Peanut uses the cripto dólar rate, which is a direct USDC-to-ARS conversion that bypasses the regulated exchange system.

In practical terms, that means 5-8% more pesos per dollar with Peanut than with Revolut in Argentina. On a $500 week of spending, that's $25 to $40 saved. On a $2,000 month, that's $100 to $160.

In Brazil, the advantage is different. Revolut's card transactions are subject to the IOF (Tax on Financial Operations) — 0.38% on inbound foreign currency transactions, and up to 3.5% on outbound transfers. Peanut's digital dollar conversion is not subject to IOF because stablecoin transactions are not covered by IOF legislation. This means up to 3.5% savings on money sent out of Brazil.

Fees Comparison

Revolut's Standard plan is free, but it has meaningful limits:

• 0.5% fair usage fee on currency exchanges above $1,000 per month
• 1% weekend markup on all exchanges during weekends (Friday 5pm ET to Sunday 6pm ET)
• 2% weekend markup for less common currencies

If you're spending $2,000 a month in Argentina or Brazil, you're paying 0.5% on half of that ($5), plus 1% on any weekend spending. For a digital nomad who shops and eats out on Saturdays, that adds up.

Revolut's Premium ($16.99/month) and Metal ($45/month) plans remove some of these limits, but you're paying for features you may not need — travel insurance, airport lounge access, stock trading perks — just to avoid weekend markups.

Peanut charges no fees on deposits, QR payments, or cash withdrawals. The exchange rate is the rate. No weekend markups. No monthly fee. No fair usage cap.

The total cost of a transaction:

• Revolut: Interbank rate + 0.5-1% fee (depending on your spend volume and timing)
• Peanut: Cripto dólar rate (5-8% better in Argentina, not subject to IOF in Brazil), no additional fees

Local Spending Capabilities

This is where Peanut and Revolut diverge most sharply.

Argentina

Mercado Pago QR is the dominant payment method in Argentina — over 1,000,000 merchants across supermarkets, cafes, kiosks, street food, restaurants, clothing stores, pharmacies. Most small and medium businesses don't accept international cards at all. They only take QR codes.

Revolut: You can tap your Revolut card at traditional card terminals. But Revolut cannot scan Mercado Pago QR codes. If a merchant only accepts QR (which is common), you can't pay.

Peanut: Scan any Mercado Pago QR code. Pay anywhere locals pay. The merchant sees a normal Mercado Pago payment. Your dollars convert to pesos at the cripto dólar rate instantly.

Brazil

Pix is the default payment method in Brazil — over 150 million users, accepted at restaurants, supermarkets, gas stations, hotels, street vendors, and virtually every business. Most transactions in Brazil happen via Pix QR, not card.

Revolut: Your Revolut card works at card terminals. But to use Pix, you need a Brazilian CPF and a Revolut Brazil account. Foreigners visiting Brazil typically can't get a CPF without a lengthy bureaucratic process (visiting a Receita Federal office or consulate). Without it, no Pix access.

Peanut: Scan any Pix QR code. No CPF needed. No Brazilian bank account needed. Verify with your passport, and you can send Pix from day one.

Cash Withdrawals

Revolut: ATM withdrawals worldwide within plan limits (typically $200-$400/month free, then 2% fee).

Peanut: Cardless QR cash withdrawals at Red ATM locations in Argentina. Generate a QR code in the app, scan it at the ATM, collect pesos. Free from Peanut (small ATM operator fee may apply).

Where Revolut Wins

Revolut has genuine advantages in areas outside Argentina and Brazil:

• Physical and virtual debit card accepted at card terminals globally. If you're traveling through Europe, Asia, or North America where card acceptance is universal, Revolut is convenient.
• Multi-currency account with balances in 30+ currencies. You can hold EUR, GBP, USD, JPY, and switch between them in-app.
• Broader feature set: Stock trading, savings vaults, travel insurance, airport lounge access (on Premium/Metal plans), metal card, cryptocurrency trading.
• Established brand with banking licenses in multiple jurisdictions. Revolut has been around since 2015 and has 35+ million users.
• Better for card-based spending in countries where local QR systems aren't dominant. In places like Germany, France, or the UK, tapping your Revolut card is easier than managing a separate app.
• ATM withdrawals worldwide within your plan's monthly limit.
• No waitlist. Revolut is available to anyone. Peanut is currently invite-only.

If you need a global card for spending everywhere, or you value features like stock trading and insurance, Revolut delivers.

When to Choose Peanut vs Revolut

Choose Peanut if:

• You're paying locally in Argentina or Brazil
• You want the best exchange rate (cripto dólar, ~5-8% better than Revolut in Argentina, estimate 2026)
• You need to scan Mercado Pago QR codes in Argentina
• You need Pix access in Brazil without a CPF or local bank account
• You want to pay at merchants that only accept QR, not cards
• You want to save on IOF in Brazil
• You don't want monthly fees, fair usage caps, or weekend markups

Choose Revolut if:

• You're spending globally at card terminals, not just in Argentina or Brazil
• You want a multi-currency account with balances in 30+ currencies
• You value features like stock trading, insurance, or savings vaults
• You prefer an established neobank with banking licenses
• You're traveling through regions where card acceptance is dominant (Europe, North America, Asia)
• You don't need access to local QR payment systems

Use both if:

• You want Revolut as your global card and Peanut for Argentina/Brazil local payments. Many users do this — Revolut for Europe and the US, Peanut for Latin America.

Disclaimer

The information on this page is for general informational purposes only and does not constitute tax, legal, or financial advice. Tax treatment of digital asset transactions varies by jurisdiction and may change. Consult a qualified professional for advice specific to your situation.

All fee and rate comparisons are based on publicly available information as of February 2026 and are example estimates only. Competitor pricing, exchange rates, and features may change. Actual savings depend on the amount, corridor, timing, and market conditions. Check each provider's current pricing for the most up-to-date information.

Get Early Access

Better rate. No weekend markups. Instant QR payments in Argentina and Brazil.