PayPal Price Comparison Disclaimer: GBP to AUD

Wise

Are you using PayPal in your business to pay or get paid internationally for goods and services? If so, you could save a bundle by opening a business account with Wise. That’s according to independent research agency Consumer Intelligence. The details of the research, including the raw transfer data, is available below.

Research Methodology

The research was carried out on the 16th January by market research agency, Consumer Intelligence, in conjunction with Wise. The data was ascertained via a series of transfers carried out by Consumer Intelligence 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

Research took place on 5 routes within the same day. Date and timestamps are provided.

The Research

Route 4: Sending 2000 GBP to AUD

As part of the research, Consumer Intelligence 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 91.76 with PayPal, and only GBP 9.96 with Wise.

Wise saved the sender GBP 81.80.

PayPal charged the Australian business who received this payment a recipient fee of AUD 119.42. Transferwise charged no recipient fee.

Wise saved the recipient AUD 119.42

The total amount that arrived at the Australian business via PayPal was AUD 3,443.37. Via Wise the amount was AUD 3,189.43.

Using Wise meant the Australian business got an extra AUD 253.94

Here’s the raw data:

Sending GBP 2000 to AUD: Wise vs PayPal Business

Fees/costWisePayPal Business
Amount sending (in GBP)£2000£2000
Rate quoted by provider (Reuters’ exchange rate = 1.7303)£1 = AU$1.7303£1 = AU$1.6544
Provider exchange rate markup (in %)0%4.39%
Provider exchange rate markup (in GBP)£0.00£91.76
Upfront transfer fee (in GBP)£9.96£0
Total sender fees (in GBP)£9.96£91.76
Amount sent to recipient (in AUD)$3,443.37$3,308.85
Recipient fees applied (in AUD)$0$119.42
Recipient fees applied (in %)0%3.61%
Total recipient fees (in AUD)$0$119.42
Final recipient amount (in AUD)$3,443.37$3,189.43
Total cost of transfer (in GBP + AUD)£9.96 + $0£91.76 + $119.42

All data was obtained independently by market research company Consumer Intelligence Ltd on January 16 2018, 11:16 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.

Money without borders

Find out more
News

Japan Price Comparison Research

Discover how Wise compares to 5 major Japanese banks and Revolut, offering savings of up to 6x on international transactions.

Wise
19.02.24 2 minute read
News

Singapore Price Comparison Research

Detailed research by Wise reveals substantial savings compared to Singapore banks and services like Instarem, Revolut, and Youtrip by EZ link.

Wise
19.02.24 4 minute read
News

New Zealand Price Comparison Research

Discover how Wise outperforms 5 major New Zealand banks, PayPal, and Western Union, offering savings of up to 6x on international transactions.

Wise
19.02.24 2 minute read
News

UK Price Comparison Research 2023

An independent research team compared Wise to six UK bank accounts, as well as Monzo, Starling, Revolut, PayPal, Xoom, Western Union and Post Office. They...

Wise
14.11.23 3 minute read
News

Germany Price Comparison Research 2023

An independent research team compared Wise to three German bank accounts as well as PayPal, Revolut, Western Union and Xoom by PayPal. They found that we’re...

Wise
14.11.23 3 minute read
News

Australia Price Comparison Research 2023

An independent research team compared Wise to five Australian banks. They found that we’re 6x cheaper for spending abroad. Wise is also on average 5x cheaper...

Wise
14.11.23 2 minute read

Tips, news and updates for your location