US Price Comparison Research
A dedicated comparison research team in Wise compared Wise to 3 US bank accounts, as well as PayPal, Western Union, Xoom by PayPal, MoneyGram and...
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.
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:
Date and timestamps are provided.
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:
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.
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:
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.
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:
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.
A dedicated comparison research team in Wise compared Wise to 3 US bank accounts, as well as PayPal, Western Union, Xoom by PayPal, MoneyGram and...
An independent researcher compared Wise to 3 other US bank accounts, PayPal, Western Union and Moneygram. They found that we are on average 6x cheaper for...
Is your business using PayPal to pay or get paid internationally for goods and services? If so, you could save up to 19x by opening a Wise for...
Research on results from independent price comparison between PayPal and Wise Business when sending AUD abroad.
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 on results from independent price comparison between PayPal and Wise Business when sending EUR abroad.