Is PayPal or Wise better?

Neither clearly leads. PayPal starts at $29/month and Wise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.

Which is cheaper, PayPal or Wise?

Wise has a free tier; the other does not. Paid plans start at $29/month for PayPal and Free for Wise.

Does PayPal or Wise run on more platforms?

PayPal runs on Web, Ios, Android, Api. Wise runs on Web, IOS, Android.

Can I use Wise for free?

Yes. Wise 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 Wise is typically brought in for.

What can PayPal do that Wise cannot?

PayPal covers Payment processing, PayPal Checkout, Invoicing, Business debit card. Wise covers International transfers, Real exchange rates, Multi-currency accounts, Bill payments. Both handle Web support, Android support.

Software · head to head

PayPal vs Wise

PayPal

Software

The simpler, safer way to pay and get paid

From: $29/month
Rated: -

Full review Website

Wise

Software

International money transfers at the real exchange rate

From: Free
Rated: -

Full review Website

The short version

Only Wise 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; Wise exchange rate fees start at 0.31% plus corridor-specific transfer fees
They diverge on capability: PayPal covers Payment processing, Wise covers International transfers.

Where they differ

Only the attributes on which PayPal and Wise actually diverge.

Attributes where PayPal and Wise differ
Attribute	PayPal	Wise
Starting price	$29/month	Free
Pricing model	usage-based	Unknown
Free tier	No	Yes
Platforms	Web, Ios, Android, Api	Web, IOS, Android
Founded	1998	2011

Identical on both: 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 Wise

International transfers
Real exchange rates
Multi-currency accounts
Bill payments
Bank accounts
Cryptocurrency
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 Wise
Sending money to friends and family domestically and internationallynot Wise
Holding balances in multiple currencies for cross border purchasesnot Wise

Wise

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

Wise

Exchange rate fees start at 0.31% plus corridor-specific transfer fees
Transfer speed dependent on destination country banking infrastructure
No published documentation of maximum transfer limits
Multi-currency account features may have regional restrictions

Pricing, plan by plan

PayPal

$29/month

Standard$2.99/transaction
- Card payments
- PayPal checkout
- Invoice payments

Wise

Free

No published plan breakdown. See the Wise review.

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 Wise if

You need international transfers.
You want to start without paying.
You work on Web, IOS, Android.
You also want real exchange rates.

Wise review

Questions people ask

Is PayPal or Wise better?: Neither clearly leads. PayPal starts at $29/month and Wise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, PayPal or Wise?: Wise has a free tier; the other does not. Paid plans start at $29/month for PayPal and Free for Wise.
Does PayPal or Wise run on more platforms?: PayPal runs on Web, Ios, Android, Api. Wise runs on Web, IOS, Android.
Can I use Wise for free?: Yes. Wise 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 Wise is typically brought in for.
What can PayPal do that Wise cannot?: PayPal covers Payment processing, PayPal Checkout, Invoicing, Business debit card. Wise covers International transfers, Real exchange rates, Multi-currency accounts, Bill payments. Both handle Web support, Android support.

Answered from the vendors’ own pages

Wise: What are Wise's transfer fees and exchange rates?

Wise uses mid-market exchange rates without hidden markups and charges a flat fee starting from 0.31% plus a currency transfer fee depending on the corridor. Volume discounts are available for larger transfers.

Source

Wise: How long do international transfers take with Wise?

Transfers can arrive same-day within seconds according to Wise marketing materials, though actual timing depends on the destination country and banking infrastructure.

Source

Wise: Is there a cost for a Wise account or monthly subscription?

Opening a Wise account is free with no monthly subscription. You only pay fees when you send money or convert currency.

Source

Wise: Can I send money between Wise users for free?

Sending or receiving the same currency between Wise contacts is free. Converting to a different currency costs less than standard rates but is not free.

Source

Wise: What security features does Wise offer?

Wise includes two-factor authentication for account protection, holds funds with established financial institutions, maintains 24/7 customer support, and has dedicated fraud and security teams.

Source

Wise: How much money can I transfer with Wise?

Wise does not publicly specify transfer limits on the main site. Limits may vary by country, sender verification level, and corridor.

Source

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PayPal vs Wise

PayPal

Wise

The short version

Where they differ

What each one covers

Only in PayPal

Only in Wise

Both cover

What people use each for

PayPal

Wise

Where each one falls short

PayPal

Wise

Pricing, plan by plan

PayPal

Wise

Which should you pick?

Choose PayPal if

Choose Wise if

Questions people ask

Answered from the vendors’ own pages

Related pages

More on PayPal

More on Wise

Keep looking

Other head to heads