11.14.18

# The below research is outdated as of July 2019. Please see new research here

Note: the following research took place on October 11-16 2018 by an independent research agency. As of 8 March 2019, the cost of sending AUD to GBP and USD with TransferWise has gone down for all customers. Please always check your account for the latest pricing. Learn more

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.

### Research Methodology

The research was carried out between 11-16th October 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

Date and timestamps are provided.

## The Research

### Route 1: Sending 2000 AUD to USD

As part of the research, Alderson Consulting made a AUD 2,000 payment from an Australian PayPal business account to a US PayPal business account.

This business payment incurred sending fees of AUD 71.97 with PayPal, and AUD 10.45 with TransferWise.

TransferWise for Business saved the sender AUD 81.82 when combined with the rate TransferWise offered at the time of the transaction

PayPal charged the US business who received this payment a recipient fee of USD 60.57. TransferWise for Business charged no recipient fee.

TransferWise for Business saved the recipient USD 60.57

The total amount that arrived at the US business via PayPal was USD 1,309.29. Via TransferWise the amount was GBP 1,420.54.

Using TransferWise for Business meant the US business got an extra USD 111.25

Here’s the raw data:

### Sending AUD 2000 to USD: TransferWise for Business vs PayPal business

Amount sending (AUD)A\$2000A\$2000
Rate quoted by provider (Reuters’ exchange rate = 0.7105)A\$ 1 = \$0.7140A\$ 1 = \$0.6849
Provider exchange rate markup (%)-0.49%3.60%
Provider exchange rate markup (AUD)-A\$9.85A\$71.97
Upfront transfer fee (AUD)A\$10.45A\$0
Total sender fees (AUD)A\$0.60A\$71.97
Amount sent to recipient (USD)\$1,420.54\$1,369.86
Recipient fees applied (USD)\$0\$60.57
Recipient fees applied (%)0%5.11%
Total recipient fees (USD)\$0\$60.57
Final funds available to recipient (USD)\$1,420.54\$1,309.29
Total cost of transfer (AUD + USD)A\$0.60 + £0A\$71.97 + \$60.57

All data was obtained independently by market research company Alderson Consulting on October 16 2018, 12:27 UTC.

### Route 2: Sending 2000 AUD to GBP

As part of the research, Alderson Consulting made a AUD 2,000 payment from an Australian PayPal business account to a UK PayPal business account.

This business payment incurred sending fees of AUD 94.49 with PayPal, and AUD 10.88 with TransferWise.

TransferWise for Business saved the sender AUD 83.61

PayPal charged the UK business who received this payment a recipient fee of GBP 56.03. TransferWise for Business charged no recipient fee.

TransferWise for Business saved the recipient GBP 56.03

The total amount that arrived at the UK business via PayPal was GBP 977.90. Via TransferWise the amount was GBP 1,079.30.

Using TransferWise for Business meant the UK business got an extra GBP 101.40

Here’s the raw data:

### Sending AUD 2000 to GBP: TransferWise for Business vs PayPal business

Amount sending (AUD)A\$2000A\$2000
Rate quoted by provider (Reuters’ exchange rate = 0.5426)A\$ 1 = £0.5426A\$ 1 = £0.5170
Provider exchange rate markup (%)0.00%4.72%
Provider exchange rate markup (AUD)-A\$0.07A\$94.49
Upfront transfer fee (AUD)A\$10.95A\$0
Total sender fees (AUD)A\$10.88A\$94.49
Amount sent to recipient (GBP)£1,079.30£1,033.93
Recipient fees applied (GBP)£0£56.03
Recipient fees applied (%)0%5.42%
Total recipient fees (GBP)£0£56.03
Final funds available to recipient (GBP)£1,079.30£977.90
Total cost of transfer (AUD + GBP)A\$10.88 + £0A\$94.49 + £56.03

All data was obtained independently by market research company Alderson Consulting on October 16 2018, 12:54 UTC.

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