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Personal Finance · head to head

PayPal vs Splitwise

PayPal logo

PayPal

Personal Finance

The simpler, safer way to pay and get paid

From
$29/month
Rated
-
Full reviewWebsite
Splitwise logo

Splitwise

Personal Finance

Split expenses easily with friends

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Splitwise has a free tier, so it costs nothing to try first.
  • 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; Splitwise the free tier limits how many expenses can be added in a day and shows adverts
  • They diverge on capability: PayPal covers Payment processing, Splitwise covers Bill splitting.

Where they differ

Only the attributes on which PayPal and Splitwise actually diverge.

Attributes where PayPal and Splitwise differ
AttributePayPalSplitwise
Starting price$29/monthFree
Pricing modelusage-basedfreemium
Free tierNoYes
PlatformsWeb, Ios, Android, ApiWeb, IOS, Android
Founded19982011

Identical on both: user rating (Not yet rated), category (Personal Finance).

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 Splitwise

  • Bill splitting
  • Expense tracking
  • Group management
  • Settlement tracking
  • Venmo
  • PayPal
  • 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 Splitwise
  • Sending money to friends and family domestically and internationallynot Splitwise
  • Holding balances in multiple currencies for cross border purchasesnot Splitwise

Splitwise

  • Splitting shared household bills between flatmatesnot PayPal
  • Tracking who owes what on a group tripnot PayPal
  • Settling up across currencies on the Pro plannot PayPal
  • Recording IOUs between friends over timenot 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

Splitwise

  • The free tier limits how many expenses can be added in a day and shows adverts
  • Transaction import works in the United States only
  • Currency conversion, receipt scanning, charts and expense search are all Pro features
  • The Pro price is not shown on the product page

Pricing, plan by plan

PayPal

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

Splitwise

Free
  • FreeFree
    • Bill splitting
    • Group tracking
    • Mobile app
  • Splitwise Pro$4.99/month
    • Receipt scanning
    • Advanced analytics
    • No ads

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 Splitwise if

  • You need bill splitting.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want expense tracking.
Splitwise review

Questions people ask

Is PayPal or Splitwise better?
Neither clearly leads. PayPal starts at $29/month and Splitwise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, PayPal or Splitwise?
Splitwise has a free tier; the other does not. Paid plans start at $29/month for PayPal and Free for Splitwise.
Does PayPal or Splitwise run on more platforms?
PayPal runs on Web, Ios, Android, Api. Splitwise runs on Web, IOS, Android.
Can I use Splitwise for free?
Yes. Splitwise has a free tier, so you can try it without paying. PayPal starts at $29/month.
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 Splitwise is typically brought in for.
What can PayPal do that Splitwise cannot?
PayPal covers Payment processing, PayPal Checkout, Invoicing, Business debit card. Splitwise covers Bill splitting, Expense tracking, Group management, Settlement tracking. Both handle Web support, Android support.
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