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WorldFirst vs PayPal

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

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 0.667 USD
6,670
Send money overseas to more than 20 countries. Rate last updated on 17/08/2018 at 1:30 pm. Find out how we calculate this exchange rate. Show details
AUD 2,000 1 day AUD 0.00 0.693 USD
6,929
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. 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
WorldFirst PayPal
Transfer fee $$0 $5.99
Exchange rate 1 AUD = 0.530862 GBP 1 AUD = 0.5060 GBP
Transfer speed 1 working day Instant
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

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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.

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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 methods Receiving options Max and min Transfer speeds Currencies
WorldFirst Bank transfer Bank account Minimum: $2,000

Maximum: No limit

1 day 55+ currencies
PayPal Bank transfer, credit or debit card, PayPal Credit PayPal account transfer Minimum: $1

Maximum: $60,000

1 day 20+ 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
AUD 200 1 day AUD 0.00 0.693 USD
6,929
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.693 USD
6,929
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.693 USD
6,929
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 250 1 day AUD 0.00 0.693 USD
6,929
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 200 1 day AUD 0.00 0.692 USD
6,923
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.692 USD
6,922
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.692 USD
6,920
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.693 USD
6,928
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 1 1 day AUD 0.00 0.692 USD
6,922
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.696 USD
6,921
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
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.

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International Money Transfer Offers

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

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

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

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

$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

Logo for TransferWise International Money Transfers
TransferWise International Money Transfers

Make online transfers at the mid-market rate with transparent fees in 45+ currencies.

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