There are clear, functional differences between the two money transfer platforms.
TransferWise can be used for international transfers through the bank transfer system or as a practical, multi-currency account with a debit card that can be used worldwide.
Today, PayPal is mostly used as a payment system in online stores. As we saw in the table calculations above, PayPal’s fees – comprised of fixed commissions, additional tariffs for foreign transfers and increases on the exchange rate – make the service more expensive for personal money transfers in foreign currency.
PayPal is mainly useful for online payments and personal, same-country bank transfers that avoid currency conversion.
With their different strengths, it would be a mistake to say one is better than the other overall, but we can say what they are best for individually: