Personal Finance Money transfer

PayPal Alternatives for international payments

Emma-Jane Stogdon

17.12.24 (last updated)

Read time 6 minutes

As a leading global provider of digital payment services, you likely have come across PayPal when shopping online, but you can also use the service to send or receive domestic and international payments.

If you’re looking for the best way to make or receive international transfers, it’s good to know that PayPal is not the only option out there. Alternatives, like Wise for example, could work out to be a cheaper option for some transfers.

This guide will cover some other alternatives to PayPal, looking at their key features, pricing and exchange rates, and what services they offer for businesses and freelancers. That means that whatever is important to you - you’ll be able to find the right service for your needs.

Alternatives to PayPal included in this article:

PayPal alternatives:
Wise Starling Bank Revolut Payoneer Monese Skrill

Wise

Wise is a UK money services company specialising in online international payments. It lets you send money worldwide for low upfront fees* and mid-market exchange rates.

As well as sending and receiving money, you can also hold and convert between 40+ currencies in a convenient online account. Plus, there are dedicated services for businesses and for sending large transfers, along with an international debit card for spending in 150+ countries.

Service aimed at: Personal and business customers needing to spend worldwide and send and receive international payments, including freelancers, and e-commerce business owners.
Type: International payment provider with account services available.

	Pros	Cons
Key features	Send and receive international payments Multi-currency account Debit card Wise Interest on GBP, EUR and USD balances**	You may need to verify your identity to send large sums of money, but for assistance you can contact the Wise support team
Pricing and exchange rates	Uses mid-market exchange rate and transparent upfront fees*	Fees vary depending on the payment method you use
Currency options	40+ currencies	Some currencies are not supported - check coverage online
Debit card	Wise card for one-time fee of just £7 Virtual cards also available	Withdraw up to £200 a month from ATMs with no Wise fees. 1.75% +0.50 per withdrawal after that.
Business account options	Business support and services available, including Xero integration, batch payments and an open API	One-off fee of £45 to register for an account
Freelancer account options	Get local bank details in major currencies, to receive payments for free	Fees from 0.33%* apply to convert between currencies

** Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

Starling Bank

Starling Bank is a popular British challenger bank, offering online current accounts and other services for both personal and business customers. With an account, you can send money to other bank accounts in 34 countries worldwide.¹

Service aimed at: Online accounts available for personal and business customers.
Type: Digital, mobile only bank based in the UK.

	Pros	Cons
Key features	Business and personal accounts Cards and virtual cards Send and receive international payments	International payments aren’t processed during the weekend¹
Pricing and exchange rates	0.4% fee added to an international transfer, plus a delivery charge which varies depending on the method used¹	Local transfers cost from £0.30, while SWIFT payments are £5.50¹
Currency options	Send to 34 countries in 17 currencies¹	Not all countries and currencies are covered
Debit card	Physical and virtual debit cards are available and can be managed via the app	Fee of £5 to £10 for a replacement card²
Business account options	Business accounts available with no monthly fees	You can deposit cash at a Post Office, but for a a fee of at least £3³
Freelancer account options	Sole trader accounts available with no monthly fees	You’ll need to meet eligibility and ID checks (which can take some time) to open an account

Revolut

Revolut is a financial technology (fintech) company offering mobile-based current accounts. It’s billed as an alternative to traditional banks, as well as offering a range of foreign currency, crypto exchange and investments.

And of course, you can use your Revolut account to make and receive international payments.

Service aimed at: Individuals and businesses looking for digital banking solutions, including options for worldwide transfers and travel spending.
Type: Digital, mobile only bank based in the UK.

	Pros	Cons
Key features	App-managed current accounts Cards and virtual cards Send and receive international payments Cryptocurrency and other financial services	For increased sending and FX limits, you need to upgrade to a paid plan
Pricing and exchange rates	Small international transfer fees, plus Revolut’s variable exchange rate	Extra 1% fee for currency exchanges at the weekend, or if you exceed your monthly allowance⁴
Currency options	Send 36 currencies to 160+ countries⁴	Some currencies are not supported
Debit card	Physical and virtual debit cards available	Withdraw £200 a month for no fees (on the free plan), but 1% currency exchange fee will apply on weekends⁵
Business account options	Business account, expense management and corporate cards available	Only fully incorporated businesses can hold an account
Freelancer account options	Revolut Pro account available for freelancers	Payment fees start from 1% +£0.20 per transaction⁶

Payoneer

If you need to send international payments for business purposes, Payoneer could be the right option for you. It offers a range of services aimed at freelancers, businesses and ecommerce entrepreneurs. You can send and receive payments with Payoneer, and also get working capital loans to help you grow.

Service aimed at: Freelancers and ecommerce business owners.
Type: Financial services company offering digital payments and working capital solutions.

	Pros	Cons
Key features	Send and receive payments globally Payoneer business accounts Hold balances in multiple currencies Access business loans	Aimed at professionals, so not the best option for private payments
Pricing and exchange rates	Free to open an account, varying fees for transfers. Payoneer uses an exchange rate 0.5% above the mid-market rate⁷	Pricing varies widely and there are a lot of fees (depending on the service you choose) Check out the details carefully
Currency options	Send money to 150+ countries in 70 currencies⁸	Some currencies are not supported
Debit card	Debit card available with free delivery, along with cards in other currencies	Annual card fees of $29.95 USD apply⁹
Business account options	Global workforce management tools Expenses management Integration with eCommerce marketplaces	Fees apply for many business services and transactions
Freelancer account options	Dedicated freelancer account available	Check out the fees for the specific services you need before you decide if this is right for you

Monese

Monese is a British money app offering an alternative to traditional banks. It offers online accounts, along with money transfer services. There are also additional tools to help you manage your money.

Service aimed at: Customers looking to open current accounts online for personal or business use.
Type: Current account and international payment provider.

	Pros	Cons
Key features	Global money transfers App-managed accounts for personal and business customers Debit and travel money cards	These are app-only accounts, so may not be the best option if you prefer in-person banking
Pricing and exchange rates	You can get a free, simple account, or choose to pay a monthly fee of £7.95 or £14.95. International transfer fees start from 2% + currency exchange fee¹⁰		Choose your account carefully to make sure you pay only for the services you need
Currency options	Send money in 19 currencies¹¹		Smaller number of currencies than some providers
Debit card	Contactless debit card available for business and personal customers	2% fee on ATM withdrawals on free Simple plan¹⁰
Business account options	Available for owners of UK registered businesses	£9.95/month fee for business accounts¹²
Freelancer account options	Freelance workers may need to use a personal account - no specific freelance account available	You’ll need a UK company registration number to sign up for a business account, which may make it unsuitable for freelancers

Skrill

Skrill is a popular mobile wallet service available in a number of countries worldwide. Once you’ve signed up for an account, you can use the Skrill homepage or mobile app to send and receive money worldwide.

Service aimed at: Personal and business customers needing to send and receive international payments, including freelancers, and e-commerce business owners.
Type: International payment provider and digital wallet service.

	Pros	Cons
Key features	Global money transfers App-managed money account for personal and business customers Prepaid Mastercard Cryptocurrency services	Skrill isn’t like a standard current account, so you may need another provider for other financial services
Pricing and exchange rates	£0 for international bank transfers, 1% for debit card transfers¹³	4.99% markup on exchange rates for international transfers¹³14	Some currencies are not supported
Debit card	Physical and virtual prepaid Mastercard available	€10 EUR fee to order a card + €10 EUR annual fee. 1.75 % ATM fee for cash withdrawals¹³
Business account options	Business payments and digital wallet available	Not a full-service UK business account
Freelancer account options	No dedicated freelancer account options	No dedicated freelancer account options

Sources used:

1. Starling Bank - sending money with Starling
2. Starling Bank - Starling personal account rates, fees and charges
3. Starling Bank - Starling business account rates, fees and charges
4. Revolut - Money transfer with Revolut
5. Revolut- Revolut pricing plans
6. Revolut - Revolut Pro
7. Payoneer - Payoneer currencies
8. Payoneer - How Payoneer works
9. Payoneer - Payoneer pricing
10. Monese - Monese pricing
11. Monese - Monese instant account
12. Monese Business - Monese Business pricing
13. Skrill - Skrill fees
14. Skrill - Transfer money with Skrill

Sources last checked on date: 06-Dec-2024

*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.