Top 5 Alternatives to PayPal

PayPal is one of the most popularly used payment methods across the world. However, the payment method has some flaws in it. For starters, it is not available in some countries. Also, the fee is quite hefty, particularly when you are making international transactions. Moreover, PayPal has a tendency to block accounts even for the smallest reasons.

Well, the good news is that there are many alternatives to PayPal. You can use these payment methods to make payments at shopping sites or online casinos.

To guide you, we are going to discuss the top 5 Alternatives to PayPal. So, let’s proceed.

1. Neteller

Neteller is a very popular payment method you can use. It is reliable, safe, and easy to use. The good thing about Neteller is there are no fees involved. All you have to do is create an account to start making your transactions.

You can use a variety of payment methods to fund your Neteller account, including bank transfers, e-wallets, and debit/credit cards. As soon as you complete the deposit, the funds will be available for use. With this, you can enjoy no-frills payment.

Neteller has made high-speed transactions trustworthy. It is one of the leading e-wallets operating globally. You can pay for different services through Neteller like online shopping, e-gaming, transfer money, buying NFTs, etc. In fact, it is one of the most commonly used payment methods when it comes to online casinos. You can check out the best online casinos that accept Neteller in India. Neteller ensures that you do not have to share your financial details with the online casino.

2. Skrill

Skrill is quite similar to PayPal. You have to attach a debit/credit card or a bank account to the Skrill account to send or receive money. The service is just going to charge a fee of 1.9% for the money transfers between Skrill wallets. However, the fee is quite less than that of PayPal. Also, the rates don’t vary with the country and currencies.

But you might face problems with international money transfers where a different currency is involved as Skrill can charge a fee of 3.99% on currency conversion. What’s worse is if the currency you are using is not supported by Skrill.

3. Wise

Wise, formerly known as Transfer Wise, is often preferred for international transactions due to its incredibly low fees. Also, the exchange rates are mid-market. For any transaction you make, Wise is going to charge you 1% of the total amount you have transferred with the minimum amount being $3. That’s 1/3 of what PayPal charges.

But the best feature is that it uses a mid-market range for currency conversion. Thus, you will get the best rates without the fee of Wise. Also, the money you transfer is directly deposited into the bank account of the receiver. You can make payments through your debit/credit card or bank account. The payment processing is quite fast.

4. Google Pay

It is a PayPal alternative that will let you make payments for free. The app had been launched in 2015 as Android Pay but in 2018 it was renamed Google Pay. With this, you can make payments on compatible systems using credit, debit, or gift cards without even physically possessing the cards.

You can use them these days for all types of online payments. Google Pay can also be used for money transfers. It is a free mobile payment solution that is supported by the top financial institutions across the world. To use, you will have to use supported cards.

However, there is a limitation on the amount of money you can transfer. Google Pay will allow you to transfer $9,999 per transaction and up to $50000 in 5 days. So, when you are using it for frequent transactions, you will have to keep track of the 5-day limit. It streamlines the whole payment process for you.

5. Payoneer

Payoneer is a lot different from PayPal but is an excellent online payment solution. It works through the Payoneer Mastercard that you get for free when you register an account. However, the card will charge you a yearly maintenance fee of $25. The good thing is you can use the card at any place that accepts Mastercard.

Payoneer has primarily been created to receive payments from the US companies, such as Fiverr, Wish, PayPal, and more. The money that is transferred to your account can be withdrawn using an ATM. You can also use the Mastercard directly for making payments.

You don’t have to pay any fee for sending or receiving money from users who have a Pioneer card. But there is a 2% withdrawal fee if you withdraw money in the local currency.

However, the drawback of the payment method is it is difficult to fund them since you cannot attach a local bank.

Bottom Line

Most of these services provide a good solution in terms of international money transfer but Neteller is the best among the lot as it is fast, reliable, and doesn’t charge unnecessary fees. But Wise is the cheapest solution for making international payments.