Wise is the better app overall, scoring 8.6 to 8.1. Wise wins on 4 of the 5 scores, PayPal on 1.
Travelers, expats and freelancers who send or receive money across borders
Online shoppers who want buyer protection and a quick, card-free checkout
Score by score
The details
| Feature | Wise | PayPal |
|---|---|---|
| Category | Money & Investing | Money & Investing |
| Category rank | #5 of 16 | #15 of 16 |
| Developer | Wise Payments Ltd | PayPal |
| Pricing | Free | Free |
| Usable for free | Yes | Yes |
| iPhone & iPad | ✓ | ✓ |
| Android | ✓ | ✓ |
| Web | ✓ | ✓ |
Common questions
Is Wise better than PayPal?
Wise is the better app overall, scoring 8.6 to 8.1. Wise wins on 4 of the 5 scores, PayPal on 1.
Which is cheaper, Wise or PayPal?
Wise: No monthly fee; pay per conversion or transfer, from 0.23%; US card costs $9 once. PayPal: Free to send from balance or bank in the US; cards cost 2.9% plus 30 cents. On value for money, Wise scores higher.
Do Wise and PayPal work on the same devices?
Yes, both run on iPhone & iPad, Android, Web.
Which is more private, Wise or PayPal?
Wise scores higher on privacy (7.2/10). App Store label lists location, identifiers and other data as used to track you, and links financial, contact, contacts, location and usage data to you. As a regulated money service it verifies your identity.
Strengths and weaknesses
Wise
- Fees and exchange rate shown before you send
- Hold, convert and spend many currencies in one account
- Wise says 77% of transfers now arrive instantly
- Not a full bank, so no loans or overdrafts
- Card, interest and account features vary by country
- App Store label shows data used for tracking
Wise is the easiest way to move money across borders without losing a chunk to poor exchange rates. It uses the mid-market rate and shows its fee upfront, so you know exactly what arrives. The multi-currency account, debit card and jars make travel and freelancing simpler, and in some countries your balance can now earn interest. It is not a full bank, though, and fees on less common routes add up.
Full Wise review
PayPal
- Accepted at a huge number of online stores
- Purchase Protection when eligible orders go wrong
- Free to send to US friends from balance or bank
- Sending with a card costs 2.9% plus 30 cents
- Sending abroad costs 5% (up to $4.99) plus currency fees
- App Store label lists usage data used for tracking
PayPal is still one of the easiest ways to pay online without typing your card number, and Purchase Protection helps if an eligible order never shows up. Sending money to friends in the US is free from your balance or bank, while cards cost 2.9% plus 30 cents. The app also covers Pay in 4, savings, crypto and cash back offers. It tracks a lot, and sending abroad or converting currency gets pricey.
Full PayPal review
