TransferWise vs PayPal

Compare features, pricing, and capabilities to find which solution is best for your needs.

TransferWise

Wise (formerly TransferWise) is a multi-currency account and international money transfer service offering cheap, fast, and transparent ways to send and receive money globally. It provides real mid-market exchange rates, unlike traditional banks, and allows users to hold and manage balances in over 50 currencies. by TransferWise LTD

Commercial

Platforms: Online Android iPhone iPad

Screenshots:

Alternatives Details Website

PayPal

PayPal is a leading online payment platform enabling secure and convenient money transfers, online purchases, and business transactions globally. It acts as a digital wallet and merchant account for individuals and businesses. by PayPal Inc.

Commercial

Platforms: Online Android iPhone Blackberry Windows Phone Pebble

Screenshots:

Alternatives Details Website

Comparison Summary

TransferWise and PayPal are both powerful solutions in their space. TransferWise offers wise (formerly transferwise) is a multi-currency account and international money transfer service offering cheap, fast, and transparent ways to send and receive money globally. it provides real mid-market exchange rates, unlike traditional banks, and allows users to hold and manage balances in over 50 currencies., while PayPal provides paypal is a leading online payment platform enabling secure and convenient money transfers, online purchases, and business transactions globally. it acts as a digital wallet and merchant account for individuals and businesses.. Compare their features and pricing to find the best match for your needs.

Pros & Cons Comparison

TransferWise

Analysis & Comparison

Advantages

Uses the real mid-market exchange rate, saving money on conversions.

Transparent fee structure displayed upfront.

Fast transfer speeds for many corridors.

Multi-currency account with local bank details simplifies receiving international payments.

User-friendly web and mobile interface.

Wise debit card is useful for international spending.

Limitations

Fees for very small transfers can be proportionally higher.

Does not support all countries or currencies.

Customer support is primarily online.

Identity verification can sometimes cause initial delays.

PayPal

Analysis & Comparison

Advantages

Widely accepted by online merchants globally.

Offers buyer protection for eligible purchases.

Easy and intuitive for sending and receiving money.

Provides comprehensive tools for businesses.

Strong focus on security and fraud prevention.

Convenient mobile application for managing finances.

Limitations

Transaction fees can be high, especially for international transfers and business transactions.

Customer service responsiveness has been a point of criticism for some users.

Dispute resolution process can sometimes be complex or lengthy.

Holding funds can occasionally be subject to review or holds.

Compare with Others

Explore more comparisons and alternatives

Monese vs TransferWise

Compare features and reviews between these alternatives.

Compare

Revolut vs TransferWise

Compare features and reviews between these alternatives.

Compare