Japan Price Comparison Research
Discover how Wise compares to 5 major Japanese banks and Revolut, offering savings of up to 6x on international transactions.
PayPal Business Price Comparison Disclaimer: Sending USD
The below research is outdated as of July 2019. Please see new research here
Note: the following research took place on October 11-16 2018 by an independent research agency. As of 8 March 2019, the cost of sending 2000 USD to GBP and AUD with Wise has gone down for all customers. Please always check your account for the latest pricing. Learn more
Are you using PayPal in your business to pay or get paid internationally for goods and services? If so, you could save on average 14x more by opening a Wise Business account.
Research Methodology
The research was carried out between 11-16th October by market research agency, Alderson Consulting (Bristol), in conjunction with Wise. The data was ascertained via a series of transfers carried out by Alderson Consulting (Bristol) and partners in various geographies.
There are three types of fees recorded for this price comparison:
- Fee 1: an upfront international money transfer fee
- Fee 2: the markup PayPal added to their exchange rate
- Fee 3: the recipient fee PayPal charged when business receive international payments
Date and timestamps are provided.
The Research
Route 1: Sending 2000 USD to GBP
As part of the research, Alderson Consulting made a USD 2,000 payment from a US PayPal business account to a UK PayPal business account.
This business payment incurred sending fees of USD 62.30 with PayPal, and only USD 13.46 with Wise.
Wise Business saved the sender USD 48.84
PayPal charged the UK business who received this payment a recipient fee of GBP 64.79. Wise Business charged no recipient fee.
Wise Business saved the recipient GBP 64.79
The total amount that arrived at the UK business via PayPal was GBP 1,403.21. Via Wise the amount was GBP 1,505.00.
Using Wise Business meant the UK business got an extra GBP 101.79
Here’s the raw data:
Sending USD 2000 to GBP: Wise Business vs PayPal business
| Fees/cost | Wise Business | PayPal business |
|---|---|---|
| Amount sending (USD) | $2000 | $2000 |
| Rate quoted by provider (Reuters’ exchange rate = 0.7576) | US$ 1 = £0.7575 | US$ 1 = £0.7340 |
| Provider exchange rate markup (%) | 0.01% | 3.12% |
| Provider exchange rate markup (USD) | $0.29 | $62.30 |
| Upfront transfer fee (USD) | $13.17 | $0 |
| Total sender fees (USD) | $13.46 | $62.30 |
| Amount sent to recipient (GBP) | £1,505.00 | £1,468.00 |
| Recipient fees applied (GBP) | £0 | £64.79 |
| Recipient fees applied (%) | 0% | 4.41% |
| Total recipient fees (GBP) | £0 | £64.79 |
| Final funds available to recipient (GBP) | £1,505.00 | £1,403.21 |
| Total cost of transfer (USD + GBP) | $13.17 + £0 | $62.30 + £64.79 |
All data was obtained independently by market research company Alderson Consulting on October 11 2018, 09:12 UTC.
Route 2: Sending 1732 USD to AUD
As part of the research, Alderson Consulting made a USD 1,732 payment from a US PayPal business account to an Australian PayPal business account.
This business payment incurred sending fees of USD 52.92 with PayPal, and only USD 15.26 with Wise.
Wise Business saved the sender USD 37.66.
PayPal charged the Australian business who received this payment a recipient fee of AUD 84.91. Transferwise charged no recipient fee.
Wise Business saved the recipient AUD 84.91
The total amount that arrived at the French business via PayPal was AUD 2,265.47. Via Wise the amount was AUD 2,403.09.
Using Wise Business meant the Australian business got an extra AUD 137.62
Here’s the raw data:
Sending USD 1,732 to AUD: Wise Business vs PayPal Business
| Fees/cost | Wise Business | PayPal business |
|---|---|---|
| Amount sending (in USD) | $1732 | $1732 |
| Rate quoted by provider (Reuters’ exchange rate = 1.3998) | US$ 1 = A$1.3998 | US$ 1 = A$1.3570 |
| Provider exchange rate markup (in %) | 0% | 3.06% |
| Provider exchange rate markup (in USD) | $0 | $52.92 |
| Upfront transfer fee (in USD) | $15.26 | $0 |
| Total sender fees (in USD) | $15.26 | $52.92 |
| Amount sent to recipient (in EUR) | A$2,403.09 | A$2,350.38 |
| Recipient fees applied (in EUR) | A$0 | A$84.91 |
| Recipient fees applied (in %) | 0% | 3.61% |
| Total recipient fees (in EUR) | A$0 | A$84.91 |
| Final recipient amount (in EUR) | A$2,403.09 | A$2,265.47 |
| Total cost of transfer (in USD + AUD) | $15.26 + A$0 | $52.92 + A$84.91 |
All data was obtained independently by market research company Alderson Consulting on October 16 2018, 07:56 UTC.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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