For last three years I have used Paypal to get paid from clients in USA (I live and work in Europe). I somehow feel that Paypal takes a quite big amount of money from these transactions and currency conversions. I am trying to understand, what would be the alternative way to get paid? I recently found TransferWise, would this be better compared to Paypal fees? Can someone advice me on this? Thanks!

  • There are a ton of cash apps out there. Almost every bank has their own version.
    – Scott
    Mar 11, 2020 at 22:36
  • @Scott Can you please mention some of them that can do the same thing like Paypal, but has smaller fees? Also, that has the option to convert from USD to EUR right in the platform and then send to my local bank account.
    – istoby
    Mar 12, 2020 at 11:26
  • Talk to your bank.. check out it's website. But practically every payment processor will have a fee. Paypal's 4% is not that bad in reality. If you can't afford that 4% you aren't charging enough.
    – Scott
    Mar 12, 2020 at 11:50
  • What is the advantage of using Paypal as opposed to a direct bank transfer? Assuming that you are going to pay taxes anyway.
    – Roger V.
    Mar 13, 2020 at 13:38
  • crypto like bitcoin might be an option also Apr 13, 2020 at 19:08

2 Answers 2


Transferwise is most likely your best bet because their fees are low and they don't screw you on the exchange rate. Paypal isn't particularly fair on the exchange rate and a lot of people don't notice that. I use Payoneer sometimes and they really steal a lot here. Aside from Transferwise, a bitcoin exchange would be an excellent option.


I use TransferWise most of the time. Their fees are low. I've worked out that with their fees and loaded exchange rate PayPal cost me about 7%.

TransferWise is also great as you can set up accounts in different countries for the local currency so clients can do local transfers. I've got one for US Dollars based in New York and another in Austrailian dollars based in Collingwood (?), Australia. They call them [Borderless accounts] (https://transferwise.com/us/borderless/).

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