WorldFirst vs PayPal

Find out which money transfer service offers the best value when you next send money overseas.

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If you need to send money overseas, WorldFirst and PayPal both offer more-affordable international transfers than the major banks. In this guide, we'll compare the fees, exchange rates and transaction speeds of WorldFirst and PayPal to find out which one is the best choice for your international transfer needs.

The fees and rates used in this comparison are accurate as of 15 March 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 1 day AUD 5.99 0.726 USD
7,254
Send money overseas to more than 20 countries. Rate last updated on 17/08/2018 at 1:30 pm. Show details
AUD 2,000 1 day AUD 0.00 0.754 USD
7,536
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Which has lower fees?

WorldFirst

WorldFirst doesn't charge any fees on international money transfers. However, it's worth remembering that your beneficiary's bank may charge a receiving fee.

PayPal

PayPal's fee structure is much more complicated. The size of the fee you pay varies depending on your transfer amount and how you pay for the transaction.

Trophy icon
Winner: WorldFirst

With zero fees, WorldFirst takes the win in this category. However, please note this doesn't necessarily mean your transfer will be cheaper with WorldFirst. You'll also need to factor in the exchange rate, which we'll explain below.

Let's crunch the numbers: Sending $2,000 to the UK

How do WorldFirst and PayPal compare in a real-life situation? Let's look at what would happen if you wanted to send $2,000 from Australia to the UK. Because of PayPal's confusing fee structure, let's assume the PayPal transaction will be funded from your bank account rather than from a credit/debit card.

Sending $1,000 to the UK
WorldFirstPayPal
Transfer fee$$0$5.99
Exchange rate1 AUD = 0.530862 GBP1 AUD = 0.5060 GBP
Transfer speed1 working dayInstant
Total British pounds received£1,061.72£1,012
Receiver gets£49.72 more£49.72 less

As you can see, not only will WorldFirst save you $5.99 in transfer fees compared to PayPal, but it will also allow you to send £49.72 more to your recipient.

Which offers better exchange rates?

WorldFirst

WorldFirst adds a margin on top of the mid-market exchange rate. This margin varies depending on the currency you send, but is generally between 0.5% and 1%. For example, if you're sending AUD to USD:

  • If the mid-market rate is 1 AUD = 0.706550 USD
  • The WorldFirst rate might be 1 AUD = 0.702819 USD

PayPal

PayPal also imposes a margin on top of the mid-market exchange rate. This margin is usually smaller than that imposed by major banks, but typically falls between 3% and 4%. Using the same AUD to USD example:

  • If the mid-market rate is 1 AUD = 0.706550 USD
  • PayPal's rate might be 1 AUD = 0.6803 USD

Trophy icon
Winner: WorldFirst

WorldFirst consistently offers better exchange rates than PayPal. This means that more of the money you send will arrive in your recipient's bank account.

Which is faster?

WorldFirst

WorldFirst processing times vary depending on the currency you transfer, the amount you send and your bank. Transfers to major currencies, such as USD, GBP and EUR, are usually completed the same day. However, if you're sending to another currency, expect your transaction to take 1–4 working days.

PayPal

Your recipient should be able to access the funds you send to their PayPal account within seconds. However, please note that if your recipient then wants to withdraw that money to their bank account, this could take several business days.

Trophy icon
Winner: Tie

PayPal can do instant transfers within PayPal accounts, but it will take significantly longer if your recipient wants to withdraw the money from their PayPal account to their bank account. On equivalent transfers between two bank accounts, both WorldFirst and PayPal transfers can take several days.

General features

Payment methodsReceiving optionsMax and minTransfer speedsCurrencies
WorldFirstBank transferBank accountMinimum: $2,000

Maximum: No limit

1 day55+ currencies
PayPalBank transfer, credit or debit card, PayPal CreditPayPal account transferMinimum: $1

Maximum: $60,000

1 day20+ currencies

WorldFirst

WorldFirst offers an online transfer service and allows you to send transactions of $2,000 or more in over 50 currencies. To send a transfer, you'll first need to register for a free online account. You can then choose the currency and amount you want to send and enter your recipient's bank account details. WorldFirst also offers a smartphone app for convenient transfers on the go.

PayPal

You'll need a PayPal account if you want to send money overseas with PayPal and you can pay for your transaction using your bank account, credit/debit card or PayPal account balance. Your recipient will also need their own PayPal account to access the money you send.

Bottom line

If you need to send a quick transfer or you only need to send a small amount of money, PayPal is worth considering. But if you're sending $2,000 or more and you want the best exchange rate and lowest fee, WorldFirst is the clear winner.

Before deciding how to send your money overseas, make sure you compare a range of international money transfer services to find one that's right for you.

Looking for more options?

Want to compare WorldFirst and PayPal with the competition? Use our calculator below to compare fees, exchange rates and transfer speeds across a range of money transfer services.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.751 USD
7,513
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.754 USD
7,536
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.754 USD
7,536
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.754 USD
7,536
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.754 USD
7,536
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Go to site Show details
AUD 1 Same day AUD 0.00 0.753 USD
7,528
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
AUD 1 Same day AUD 3.99 0.748 USD
7,472
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.754 USD
7,501
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.756 USD
7,524
New customers sending over AUD 500 from Australia use code FINDER50 to get AUD 50 off. Valid till 30th June 2021. T&Cs apply.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
AUD 1 1 day AUD 52.00 0.753 USD
7,489
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.748 USD
7,481
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.

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