Wise vs Ruvo
Wise moves money across 40+ currencies. Ruvo is built for the dollar corridor between Brazil and the US, with 0% IOF and native crypto. Here is how the two compare on cost, speed, and what you can actually do with each.
The IOF gap that changes the math
Converting reais to dollars: a worked example
- Ruvo: 0.5% at the commercial rate into a digital-dollar balance, no IOF, about R$50. Taking it all the way to fiat dollars (ACH or wire) is 0.5% more, 1% in total, still no IOF.
- Wise: IOF of 1.1% to 3.5% depending on the operation, plus its conversion fee, so roughly R$150 to R$400 or more.
Monthly savings on US$7,500 a month
- Wise: dollars to reais carries 0.38% IOF plus its conversion fee, commonly around 0.9% all-in, roughly $65 to $70 a month ($780 to $840 a year).
- Ruvo (business): 0.3% with no IOF, about $22.50 a month ($270 a year).
Receiving and holding dollars
- Hold your balance in digital dollars (USDT/USDC) for as long as you want.
- Spend it on an international card with 0% IOF and 0% spread (1% on non-dollar purchases).
- Move in and out with instant Pix.
Crypto and digital dollars, any wallet
- Receive digital dollars (USDT/USDC) from any external wallet.
- Send to any wallet, on-chain, whenever you want.
- Your balance is real, dollar-backed stablecoin that you hold and control.
What else Ruvo does that Wise does not
- Zero IOF on every operation, not just lower fees.
- Free dollar spend: no spread and no IOF on the card when you spend your dollar balance.
- Instant Pix in and out, so reais and dollars move in seconds.
- Near-instant settlement, versus hours to a business day on Wise.
When Wise still makes sense
- Paying suppliers or contractors in euros, pounds and 40+ other currencies.
- A long-established global network with local bank details in several countries.
- One-off transfers to places where you don't need to hold dollars.
A note on fees
Wise vs Ruvo, side by side
| Criteria | Ruvo | Wise |
|---|---|---|
| IOF | 0% | 1.1%–3.5% (reais to dollars) |
| Convert reais to dollars | 0.5% (1% to fiat) | 1.1%–3.5% IOF + fee |
| Convert dollars to reais | 0.3% business / 0.5% individual | 0.38% IOF + fee |
| Receiving dollars | Free, instant | Free to receive |
| Hold dollars | Digital dollars (USDT/USDC) | USD balance, no stablecoin |
| Crypto / wallets | Receive & send, any wallet | Not supported |
| International card | 0% spread, 0% IOF | Yes; IOF when funded in reais |
| Settlement | Instant | Hours to 1 business day |
| Currency coverage | Dollar corridor (BR/US) | 40+ currencies |
Yes, in both directions. Converting reais to dollars, Wise's IOF ranges from 1.1% to 3.5% depending on the operation (Decree 12.499/2025). Converting dollars back to reais carries 0.38% IOF plus a conversion fee. Ruvo keeps 0% IOF on every operation.
Ruvo, on balance. For reais to dollars, Wise carries 1.1% to 3.5% IOF plus a fee, versus Ruvo's 0.5% with no IOF. For dollars to reais, Wise charges 0.38% IOF plus its fee, versus Ruvo's 0.3% for businesses (0.5% for individuals) with no IOF, and receiving dollars is free. Confirm current fees before deciding.
Yes, especially for sending money in many currencies (40+), where Wise’s global coverage is strong.
Yes, in digital dollars (USDT/USDC). Holding is free, and you can spend that balance on an international card with no spread and no IOF.
No, Wise does not support crypto. Ruvo lets you receive digital dollars (USDT/USDC) from any wallet and send to any wallet, on-chain.
Wise does offer business accounts in Brazil, but IOF on international FX operations applies regardless of whether the account is personal or business. For a Brazilian PJ receiving and holding dollars, Ruvo charges 0% IOF and a flat 0.3% conversion fee, versus Wise's IOF of up to 3.5% plus a spread on each conversion.
