The below research is outdated as of July 2019.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 GBP to USD, EUR, 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 GBP to USD

As part of the research, Alderson Consulting made a GBP 2,000 payment from a UK PayPal business account to a US PayPal business account.

This business payment incurred sending fees of GBP 37.62 with PayPal, and GBP 8.76 with Wise.

Wise Business saved the sender GBP 71.13 when combined with the rate Wise offered at the time of the transaction

PayPal charged the US business who received this payment a recipient fee of USD 111.83. Wise Business charged no recipient fee.

Wise Business saved the recipient USD 111.83

The total amount that arrived at the US business via PayPal was USD 2,422.97. Via Wise the amount was GBP 2,626.45.

Using Wise Business meant the EUR business got an extra USD 203.48

Here’s the raw data:

Sending GBP 2000 to USD: Wise Business vs PayPal business

Fees/cost	Wise Business	PayPal business
Amount sending (GBP)	£2000	£2000
Rate quoted by provider (Reuters’ exchange rate = 1.2917)	£ 1 = $1.3190	£ 1 = $1.2674
Provider exchange rate markup (%)	-2.11%	1.88%
Provider exchange rate markup (GBP)	-£42.27	£37.62
Upfront transfer fee (GBP)	£8.76	£0
Total sender fees (GBP)	-£33.51	£37.62
Amount sent to recipient (USD)	$2,626.45	$2,534.80
Recipient fees applied (USD)	$0	$111.83
Recipient fees applied (%)	0%	4.41%
Total recipient fees (USD)	$0	$111.83
Final funds available to recipient (USD)	$2,626.45	$2,422.97
Total cost of transfer (GBP + USD)	£-33.51 + £0	£37.62 + $111.83

All data was obtained independently by market research company Alderson Consulting on October 11 2018, 16:29 UTC.

Route 2: Sending 2000 GBP to EUR

As part of the research, Alderson Consulting made a GBP 2,000 payment from a UK PayPal business account to a Euro PayPal business account.

This business payment incurred sending fees of GBP 74.67 with PayPal, and GBP 7.95 with Wise.

Wise Business saved the sender GBP 66.72

PayPal charged the Euro business who received this payment a recipient fee of EUR 74.67. Wise Business charged no recipient fee.

Wise Business saved the recipient USD 74.67

The total amount that arrived at the Euro business via PayPal was EUR 2,111.11. Via Wise the amount was GBP 2,260.38.

Using Wise Business meant the EUR business got an extra EUR 149.27

Here’s the raw data:

Sending GBP 2000 to USD: Wise Business vs PayPal business

Fees/cost	Wise Business	PayPal business
Amount sending (GBP)	£2000	£2000
Rate quoted by provider (Reuters’ exchange rate = 1.1347)	£ 1 = €1.1346	£ 1 = €1.0929
Provider exchange rate markup (%)	0.01%	3.68%
Provider exchange rate markup (GBP)	£0.18	£73.70
Upfront transfer fee (GBP)	£7.95	£0
Total sender fees (GBP)	£7.95	£73.70
Amount sent to recipient (EUR)	€2,260.38	€2,185.78
Recipient fees applied (EUR)	€0	€74.67
Recipient fees applied (%)	0%	3.42%
Total recipient fees (EUR)	€0	€74.67
Final funds available to recipient (EUR)	€2,260.38	€2,111.11
Total cost of transfer (GBP + EUR)	£7.95 + €0	£73.70 + €74.67

All data was obtained independently by market research company Alderson Consulting on October 15 2018, 09:24 UTC.

Route 2: Sending 2000 GBP to AUD

As part of the research, Alderson Consulting made a GBP 2,000 payment from a UK PayPal business account to an Australian PayPal business account.

This business payment incurred sending fees of GBP 78.92 with PayPal, and GBP 10.10 with Wise.

Wise Business saved the sender GBP 68.82

PayPal charged the Australia business who received this payment a recipient fee of AUD 127.61. Wise Business charged no recipient fee.

Wise Business saved the recipient AUD 127.61

The total amount that arrived at the Australia business via PayPal was AUD 3,408.71. Via Wise the amount was GBP 3,663.01.

Using Wise Business meant the Australian business got an extra AUD 254.30

Here’s the raw data:

Sending GBP 2000 to AUD: Wise Business vs PayPal business

Fees/cost	Wise Business	PayPal business
Amount sending (GBP)	£2000	£2000
Rate quoted by provider (Reuters’ exchange rate = 1.8408)	£ 1 = A$1.8407	£ 1 = A$1.7682
Provider exchange rate markup (%)	0.01%	3.95%
Provider exchange rate markup (GBP)	£0.14	£78.92
Upfront transfer fee (GBP)	£9.96	£0
Total sender fees (GBP)	£10.10	£78.92
Amount sent to recipient (AUD)	A$3,663.01	A$3,536.32
Recipient fees applied (AUD)	A$0	A$127.61
Recipient fees applied (%)	0%	3.61%
Total recipient fees (AUD)	A$0	A$127.61
Final funds available to recipient (AUD)	A$3,663.01	A$3,408.71
Total cost of transfer (GBP + AUD)	£10.10 + A$0	£78.92 + A$127.61

All data was obtained independently by market research company Alderson Consulting on October 15 2018, 09:33 UTC.