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 TransferWise for Business account.
The research was carried out on the 11th October 2018 by market research agency, Alderson Consulting (Bristol), in conjunction with TransferWise. 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:
- 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 transfers from GBP, EUR, USD, and AUD routes. Date and timestamps are provided.
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