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Software · head to head

PayPal vs Charles Schwab

PayPal logo

PayPal

Software

The simpler, safer way to pay and get paid

From
$29/month
Rated
-
Full reviewWebsite
Charles Schwab logo

Charles Schwab

Software

Investing made simple

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: PayPal currency conversion on international purchases and sends carries a 4.00 percent fee, and 3.00 percent in other conversion scenarios; Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • They diverge on capability: PayPal covers Payment processing, Charles Schwab covers Commission-free trading.

Where they differ

Only the attributes on which PayPal and Charles Schwab actually diverge.

Attributes where PayPal and Charles Schwab differ
AttributePayPalCharles Schwab
Starting price$29/monthOn request
Pricing modelusage-basedtransaction
PlatformsWeb, Ios, Android, ApiWeb, IOS, Android
Founded19981971

Identical on both: free tier (No), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in PayPal

  • Payment processing
  • PayPal Checkout
  • Invoicing
  • Business debit card
  • Working capital loans
  • Shopify
  • WooCommerce
  • BigCommerce

Only in Charles Schwab

  • Commission-free trading
  • Retirement planning
  • Wealth management
  • Research tools
  • Bank accounts
  • Investment accounts
  • IOS support

Both cover

  • Web support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

PayPal

  • Paying online merchants without sharing card detailsnot Charles Schwab
  • Sending money to friends and family domestically and internationallynot Charles Schwab
  • Holding balances in multiple currencies for cross border purchasesnot Charles Schwab

Charles Schwab

  • Budget Managementnot PayPal
  • Expense Trackingnot PayPal
  • Investment Trackingnot PayPal

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

PayPal

  • Currency conversion on international purchases and sends carries a 4.00 percent fee, and 3.00 percent in other conversion scenarios
  • Instant transfer to a bank or debit card costs 1.75 percent of the amount, with a minimum of 0.25 USD and a maximum of 25.00 USD
  • International personal transactions carry a 5.00 percent fee regardless of payment method, with a minimum of 0.99 USD and a maximum of 4.99 USD
  • Sending domestic personal payments funded by a credit card costs 2.90 percent plus a fixed fee of 0.49 USD
  • Instant transfers are capped at 25,000.00 USD per transaction

Charles Schwab

  • Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile

Pricing, plan by plan

PayPal

$29/month
  • Standard$2.99/transaction
    • Card payments
    • PayPal checkout
    • Invoice payments

Charles Schwab

On request
  • Individual BrokerageFree
    • Commission-free trading
    • Research tools
  • Schwab Advisor Services$undefined/month
    • All Brokerage features
    • Wealth management
    • Personal advisors

Which should you pick?

Choose PayPal if

  • You need payment processing.
  • You work on Web, Ios, Android, Api.
  • You also want paypal checkout.
PayPal review

Choose Charles Schwab if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Charles Schwab review

Questions people ask

Is PayPal or Charles Schwab better?
Neither clearly leads. PayPal starts at $29/month and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, PayPal or Charles Schwab?
PayPal starts at $29/month and Charles Schwab at On request.
Does PayPal or Charles Schwab run on more platforms?
PayPal runs on Web, Ios, Android, Api. Charles Schwab runs on Web, IOS, Android.
What is PayPal best used for?
PayPal is most often used for paying online merchants without sharing card details, sending money to friends and family domestically and internationally, holding balances in multiple currencies for cross border purchases. Of those, paying online merchants without sharing card details and sending money to friends and family domestically and internationally are not what Charles Schwab is typically brought in for.
What can PayPal do that Charles Schwab cannot?
PayPal covers Payment processing, PayPal Checkout, Invoicing, Business debit card. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle Web support, Android support.
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Related pages

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