If you're looking for alternatives to PayPal to send money internationally, a few different options are available.
Depending on your needs, the best way to send money internationally may differ, and you might prefer one method over another.
Can You Send Money Internationally with PayPal?
The short answer is yes. Paypal can be considered the oldest peer-to-peer payment service that enables people to send and receive money digitally in 25 currencies worldwide for goods and services or buy or sell items online.
6 Alternatives to PayPal for International Payments:
Wise
Remitly
PassTo
Xe
Panda Remit
SBIC
Each of these services has its own advantages and disadvantages, so be sure to compare them before deciding which one is best for you.
For example, Wise is a good option if you're looking for low fees and fast transfers, while Remitly is a good choice if you need to send money to someone in a remote location.
The best approach is to compare exchange rates and fees before choosing a money transfer service!
If you're looking for a cheap way to send money internationally, Wise (formerly TransferWise) is a good option. The company charges low fees and offers fast transfers. It now has 12 million users worldwide and counting.
With Wise, there are no markups on exchange rates. This means that Wise is a good option if you're looking for the best exchange rate. In addition, Wise offers a handy app that makes it easy to send money on the go.
Features of Wise:
Send money online with low fees and real exchange rates from 59 countries to over 80 countries.
Open a multi-currency account that allows you to hold up to 50 different currencies and convert them at a low fee
Transfer fees vary depending on the transfer amount, currency, and payment method
Pay using bank accounts, debit/credit cards, SWIFT, and PISP
The transfer speed varies based on the currency combination and payment method. It merely takes a few minutes or can take up to 2-5 days
If you need to send money to someone in a remote location, Remitly is a good choice. The company offers low fees and fast transfers, and it has a wide network of supported countries.
Immigrants seeking inexpensive, efficient, and fast money transfer services can use Remitly. You can send money using their website or app.
Features of Remitly:
Sends money to over 100 countries from 21 sending countries
Pay using different payment methods, including bank deposits, cash transfers, mobile money, and home delivery.
Exchange rate margins: 0.5%-1.5%
Choose between two transfer speeds: Express (faster, higher costs); Economy (takes 3-5 business days, lower costs)
Destination country will determine the transfer speed and available delivery options
Remitly offers great promotional pricing for first-time users
Earn referral bonuses by referring your friends to Remitly
Transfer fees are affected by transfer amount, payment method, destination country, and delivery method.
Xe is a well-known currency converter that also offers money transfer services. The company offers low fees and competitive exchange rates, making it a popular choice for international payments.
Features of Xe:
Send payments in 139 currencies to over 220 countries and territories
Enables international wire transfers to an overseas bank account in more than 60 currencies using their XE website or mobile app
An excellent alternative for large bank-to-bank transfers
Payments are delivered to your recipient’s bank account directly
No transfer fees for transfer amounts of $500 or more
Exchange rate margins from 0.5% to 2%. The margins decrease as the transfer amount increases
Pay with a bank account, credit card, or debit card
Transfers take a few minutes or up to 4 business days, depending on various factors
Cash pick-up locations include certain stores, Xe branches, or their partners.
Panda Remit offers low-cost international money transfer services to multiple countries. You can send money online through the Panda Remit website or their app.
Features of Panda Remit:
Send money to 30+ countries
Pay with a bank account with no charges or with a credit card (may apply charges)
Exchange rate margin is between 0.02%-0.62% with no hidden fees
Use referral bonuses and promotional rates for new users to save money
Multiple options to receive money: direct deposit to a digital wallet, bank cards, or cask pickup
Money can be transferred as fast as in 2 minutes
1005 money-back guarantee if not satisfied with the service
You can verify rates and fees by entering the transfer amount and the currency combination into their online calculator.
If you’re looking for one of the fastest ways to send money to India from the United States. SBIC is owned by India's largest public sector bank, the State Bank of India.
Features of SBIC:
Send money to any bank in India in a few hours using SBIC's remittance service at zero cost
Three options to send money: online, SBIC mobile app, or in-branch
Affordable USD to INR exchange rates
In-branch transfers for payments under $50,000: $15 remittance fees
Zero charges for transfers of $50,000 or above
Transfer limits are $25,000 per day and $50,000 monthly for accounts opened online
Transfer limits are $50,000 per day and no monthly restriction for accounts opened in branches
Mobile transfer limitations are $25,000 per day and $50,000 per month
More than $35,000 in online transfers may take an extra 1-2 working days for transfer amount of $35,000 above
Whichever service you choose, be sure to read the terms and conditions carefully before making any transfers. And remember, always compare top money transfer services for your preferred corridor today!
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.
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