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Personal Finance · head to head

PayPal vs Wallet

PayPal logo

PayPal

Personal Finance

The simpler, safer way to pay and get paid

From
$29/month
Rated
-
Full reviewWebsite
W

Wallet

Personal Finance

Smart expense tracking and budgeting

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Wallet has a free tier, so it costs nothing to try first.
  • They diverge on capability: PayPal covers Payment processing, Wallet covers Expense tracking.

Where they differ

Only the attributes on which PayPal and Wallet actually diverge.

Attributes where PayPal and Wallet differ
AttributePayPalWallet
Starting price$29/monthFree
Pricing modelusage-basedfreemium
Free tierNoYes
PlatformsWeb, Ios, Android, ApiWeb, IOS, Android
Founded19982010

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 Wallet

  • Expense tracking
  • Budget management
  • Receipt scanning
  • Financial analytics
  • Bank 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 Wallet
  • Sending money to friends and family domestically and internationallynot Wallet
  • Holding balances in multiple currencies for cross border purchasesnot Wallet

Wallet

  • 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

Wallet

Nothing recorded yet. See the Wallet review.

Pricing, plan by plan

PayPal

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

Wallet

Free
  • FreeFree
    • Expense tracking
    • Basic budgets
  • Premium$4.99/month
    • Advanced analytics
    • Custom categories
    • Receipt scanning

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 Wallet if

  • You need expense tracking.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want budget management.
Wallet review

Questions people ask

Is PayPal or Wallet better?
Neither clearly leads. PayPal starts at $29/month and Wallet at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, PayPal or Wallet?
Wallet has a free tier; the other does not. Paid plans start at $29/month for PayPal and Free for Wallet.
Does PayPal or Wallet run on more platforms?
PayPal runs on Web, Ios, Android, Api. Wallet runs on Web, IOS, Android.
Can I use Wallet for free?
Yes. Wallet 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 Wallet is typically brought in for.
What can PayPal do that Wallet cannot?
PayPal covers Payment processing, PayPal Checkout, Invoicing, Business debit card. Wallet covers Expense tracking, Budget management, Receipt scanning, Financial analytics. Both handle Web support, Android support.
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