PayPal review

PayPal is a widely-used online payment platform that also offers international money transfers, though fees and exchange rates can be less competitive than specialists. Founded in 1998 and based in San Jose, USA, PayPal is a money transfer provider. PayPal is authorised and regulated by FinCEN, FCA, Various, which means customer money is safeguarded separately from company funds. It currently holds a Trustpilot score of 1.3 out of 5 from roughly 40,213 reviews, which we rate poor.

On fees, PayPal charges nothing upfront on the majority of corridors (5% with $0.99 min, $4.99 max), but the bigger cost is usually the exchange-rate markup of 3% - 4% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $60,000 per transaction. Because that markup scales with the amount you send, it is worth comparing the final receive amount rather than the fee alone.

Delivery speed is quoted at instant to 3 days, and the service reaches 200+ countries across 25+ currencies. You can fund a transfer by Bank Transfer, Debit Card, Credit Card and PayPal Balance, with money delivered via PayPal Account and Bank Deposit. The mix of funding and payout options is a good guide to which corridors PayPal handles best.

On the plus side: widely accepted globally, instant transfers to paypal users and buyer protection available. That makes it a sensible choice for people who send to a wide spread of countries from one account. Worth keeping in mind: high exchange rate markup (3-4%) and transfer fees can add up. As always, run your exact amount and currency through a live comparison before sending — the provider you pick usually affects the final amount more than any single fee.