Several people who wish to carry out international money transfers are unsure about whether they should use the services of WorldFirst or PayPal. Incidentally, while PayPal might work well for someone, WorldFirst might serve as a better alternative for someone else. So, how does one go about choosing between the two?
Online review-based websites give you an easy way to look at the PayPal vs. WorldFirst comparison through the eyes of both companies’ customers. WorldFirst averages at 9.2 out of 10 on Feefo, whereas PayPal’s Trustpilot score leaves considerable room for improvement.
While both companies provide services for online sellers with international customers, it appears that WorldFirst scores better when it comes to overall cost-effectiveness.
The factors you need to take into account before selecting PayPal or WorldFirst include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the PayPal vs. WorldFirst comparison requires your close attention because both companies follow different pricing structures.
- The fee you need to pay depends on the type of account you open.
- All personal transfers are fee-free.
- Depending on the WorldFirst website you use, you might have to deal with minimum transfer limits.
- Online sellers who receive payments in accounts with corresponding currencies pay no fees.
- Online sellers need to pay nominal fees when withdrawing money from their WorldFirst accounts to their local bank accounts.
- The company’s existing fee structures are made available online at WorldFirst.com/us/,WorldFirst.com/uk/, WorldFirst.com/en-fr/, WorldFirst.com/au/,WorldFirst.com/en-cn/, WorldFirst.com/en-jp/, WorldFirst.com/en-sg/, WorldFirst.com/en-hk/.
- Where you live might have a bearing on the transfer fees you are required to pay.
- PayPal charges a conversion fee of 2% to 2.75% in some countries.
- If you live in the U.S. and make a transfer using your PayPal balance or a bank account, you will need to pay 0% to 2% as fees.
- Transfers made using credit cards tend to attract higher fees.
- Withdrawing money from your PayPal account into your local bank account attracts fees.
Ease of Use
Completing your online PayPal or WorldFirst application takes no more than a few minutes. Using their online platforms to send or receive money is fairly straightforward.
- You may register with WorldFirst as an individual, a business, or an online seller.
- You may use WorldFirst’s dedicated websites for the UK, the Netherlands, France, Australia, China, Japan, Hong Kong, or Singapore.
- Access to WorldFirst websites comes in English, Dutch, French, Japanese, and Chinese.
- Acceptable payment methods include bank transfers, debit cards, credit cards, CHAPS, and BACS.
- You may use WorldFirst apps with devices that run on Android or iOS.
- Sign up as an individual, a business, or an online seller.
- Some of the languages in which you may use the PayPal website include English, French, Spanish, Portuguese, Italian, Japanese, and Chinese.
- Funds are transferred to a recipient’s PayPal account, which can then be withdrawn intro a local bank account.
- You may use your PayPal balance to shop online from most countries.
- You may pay for your transfer using a bank account, a debit card, a credit card, or your PayPal balance.
- PayPal provides apps for Android and iOS.
Regular Overseas Payments
This section of the PayPal vs. WorldFirst comparison tilts the balance in favor of the latter. While scheduling transfers through WorldFirst is easy, PayPal does not provide this feature yet.
- Looking for an alternative to WorldFirst?
- Learn more about WorldFirst Vs WorldRemit.
- Catch up on the WorldFirst awesome services and feature offerings