You can send funds to your PayPal balance from your debit card or bank account, then make international transfers from your balance. One advantage of PayPal is that you don’t have to use your bank account for international transfers. Just make sure you know and trust the person you’re sending money to - PayPal can’t issue refunds for scams. You can use PayPal to send money internationally with only the recipient’s email address. Today, it’s still a popular choice and ideal for relatively small, instant transfers. PayPal was one of the first online peer-to-peer money transfer services. This is a long-established platform and ideal for sending money to friends or family abroad. Why we chose it: PayPal makes it easy to send instant transfers between accounts anywhere in the world. Takes additional time to send funds to a bank account.But because of the lack of transfer options, it may not be the best choice for a business that needs multiple ways to send and receive payments. Wise is ideal for someone who travels between countries frequently and wants to make fast, low-cost transfers or withdrawals. Lastly, Wise accounts have no monthly maintenance fees and allow you to withdraw money for free twice a month - provided the total amount is $100 USD or less. The company also charges low fees for most transfers. Wise’s exchange rates are average or slightly above average (depending on the currency) but have no markup, making them more affordable overall. Wise also has a live customer help center and a 24/7 helpline if you need assistance. You can transfer online through the company's website or mobile app. However, Wise’s credit and debit card transfers are practically instant (within three minutes on average). It offers various payment options: credit and debit card transfers, wire transfers, ACH and SWIFT transfers, Apple Pay and Google Pay.īank transfers through Wise are a little slower than other providers and may take up to a week. Wise, formerly TransferWise, is a financial tech company that markets its services as “borderless banking.” You can quickly transfer funds through this platform, even if your recipient doesn’t have a Wise account (but you will need to provide their bank details). Its exchange rates are competitive and can facilitate transfers between 70 countries. Why we chose it: Wise provides fast international transfers with low upfront fees. $250,000 per transaction, $1 million per year Same day for cash delivery, up to a week for bank transfers Instant for credit/debit, up to a week for bank transfers Same-day transfers with an intuitive mobile wallet Secure bank transfers with no maximum limit and no fees Secure, widely available platform for multiple transfer typesĮasy cash transfers with low upfront fees User-friendly platform for peer-to-peer lending Easy, low-cost transfer with no markup rates
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