How to send money from PayPal to Wise?

If you have a PayPal®¹ account balance you may be considering withdrawing it to Wise, to make it easier to send on to someone overseas, or cheaper to spend internationally with your linked Wise card.

This guide walks through how to add a Wise account to PayPal, so you can send money from PayPal to Wise easily.

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Can you transfer money from PayPal to Wise?

You can link a bank account to PayPal, to withdraw money from your PayPal account. By opening a Wise account, you’ll get local bank details for a selection of currencies, including USD, and can link these details to PayPal to transfer from PayPal to Wise.

Customers in the US can only link USD bank accounts to PayPal, for local withdrawals in dollars².

Why send money from PayPal to Wise?

You might want to link Wise to PayPal so you can withdraw your PayPal USD balance to your Wise account. This can be especially handy if you need to send money overseas, or if you’re planning on spending in a foreign currency online or when you travel, thanks to Wise’s flexible multi-currency account options, and low fees.

While PayPal has fairly steep international charges, Wise uses low, transparent fees and the mid-market exchange rate, which can cut your costs when transacting in a foreign currency. More on that later.

How to send money from PayPal to Wise?

To withdraw money from PayPal to Wise you’ll have to first link your Wise account to PayPal. If you don’t have a Wise account just yet, don’t worry - we’ll cover how to get one for free in just a moment.

First, here’s how to link your Wise account to PayPal online or in the PayPal app³:

1. Log into PayPal online or in-app
2. Go to Wallet
3. Click Link a card or bank, then Link a bank account (in the app you just need to tap Banks)
4. Search for your bank or select it from the list

You can link your bank instantly by entering your bank login details. If you can’t find Wise listed you can still enter your bank account details manually and click Agree and Link. In this case you’ll need to complete a verification step - 2 small deposits will be sent to your account by PayPal and you’ll need to enter details of the amounts sent to your PayPal account to verify it.

Can I send money with PayPal to someone else’s Wise Account?

You can not withdraw money from PayPal to someone else’s account. The linked bank account must be in your own name.

How much can I send from PayPal to Wise?

There’s a PayPal transfer limit for instant transfers of 25,000 USD⁴. Once you have money in your Wise account, there are Wise limits which vary by currency. If you’re sending from USD, you may be able to send payments valued at up to 1 million USD⁵, depending on the destination and the transfer details.

How do I get a Wise account?

Not got a Wise account yet? No worries. You can get a Wise personal account for free online or in the Wise app, to get instant access to USD bank details you can link to PayPal. As a bonus, you’ll also get the following features:

• Hold and exchange 40+ currencies
• All exchange uses the mid-market rate with no markup
• Send money to 80+ countries with fees from 0.41%⁶
• Get a linked card to spend in 170+ countries
• Access local bank details for up to 9 currencies to receive payments from 30+ countries

Here’s how to open a Wise account in just a few steps:

1. Download the Wise app or head to the Wise desktop site
2. Tap Register and create an account with your email, Google, Facebook or Apple ID
3. Upload an image of your ID document for verification

Once your account has been verified, you can order your Wise card, access your Wise USD bank details to link to PayPal, and start to transact.

Get a Wise Account today

How much does it cost to transfer from PayPal to Wise?

When you transfer money from PayPal to Wise, you’ll be withdrawing your funds from PayPal to a linked Wise account. This is usually free if there’s no currency conversion required - so if you already have USD in your PayPal account. However, it may take a few days for your money to arrive with this free standard service.

If you’re in a hurry and need the money faster, there’s a 1.75% fee - and if you need to convert your balance from a foreign currency to USD to make the withdrawal, you’ll pay a 4% conversion fee, too⁴.

PayPal vs Wise: Fees to send money abroad

PayPal lets customers send money to other PayPal accounts all over the world - but there are fees involved which you’ll need to know about. Plus, when you send money with PayPal, it’s deposited into the recipient’s PayPal account. If they subsequently want to withdraw to a bank account, there may also be a fee, depending on where in the world the recipient is, and how quickly they need their money.

Here’s a look at how Wise and PayPal international transfer fees match up:

Provider	International transfer fee	Exchange rate
PayPal⁴	5% (from 0.99 USD to 4.99 USD)	Mid-market rate + 4% conversion fee
Wise	Low fees from 0.41%	Mid-market rate

See how much you can save with Wise:

Bottom line

You can transfer money from PayPal to Wise by linking your Wise USD account details to PayPal. This can be a smart move if you have a PayPal balance in USD and need to send it to someone overseas, or if you plan to travel. While PayPal has fairly high international transfer and currency conversion fees, Wise may be cheaper, with mid-market exchange rates and currency conversion from just 0.41%.

Use this guide to link PayPal to Wise and start sending and spending in foreign currencies for less.

Learn more about Wise

Frequently asked questions

How much does it cost to get a Wise account?

It’s free to open a Wise personal account. There’s a low one time fee to open a Wise business account, and both account types offer no ongoing charges or minimum balances to worry about.

How much is it to get a PayPal account?

It’s free to open a PayPal US account, although some fees may apply when you transact, particularly when sending or spending in foreign currencies.

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1. PayPal
2. PayPal help - problems linking bank accounts
3. PayPal help - how to link a bank account
4. PayPal US consumer fees
5. Wise guide to USD transfers
6. Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information

All sources checked on 15 May 2023