Why I Use Wise For Money Transfers — And Why I Hate PayPal (as a US Expat)

As someone who’s lived abroad for over a decade, I’ve had my fair share of financial frustrations when it comes to moving money internationally. Whether you’re sending funds back home, getting paid by international clients, or paying bills in another country, it can all get complicated—and expensive to make money transfers.

Back in the day, I was just trying to figure out how to pay my U.S. credit card from Europe without losing a fortune to transfer fees. Or wiring money from China using an old-fashioned bank. That’s when I stumbled upon TransferWise (now Wise), and I have never looked back. Ten years later, it’s still the financial tool I use almost weekly, and I recommend it to every expat, freelancer, and business owner I know.

Let me break down exactly why Wise has been a game-changer for international money transfers—and why you should seriously consider making the switch, especially if you’re still using traditional banks or (ugh) PayPal (<--- just don’t!).

The Problem with Traditional Banks for International Money Transfers (and PayPal, Ugh)

Let’s start with the obvious: banks and PayPal are charging you WAY more than you think.

When I first moved abroad, I tried doing everything "the proper way" through my bank. I would initiate a wire transfer to my U.S. account, only to find out that it would take 3-5 business days, cost anywhere from €25 to €50 per transfer, plus whatever hidden fees they snuck in with the exchange rate. And forget about clarity—there was never any clear breakdown of what I was actually being charged. It felt like putting my money into a black hole and hoping something showed up on the other end.

But let’s talk about the real villain here: PayPal for money transfers.

I had a U.S. client once pay me $500 for a freelance job. Based on the real exchange rate at the time, I should have received around €480. Instead? After PayPal's percentage-based fees and their absolutely horrendous exchange rate, I ended up with €398. That’s right—I lost nearly €100. Gone. Poof. Vanished into the PayPal void. I worked the same amount and paid 100 EUR to get paid less.

It was that moment I decided: never again. I was done with the hidden fees, the dishonest exchange rates, and the general feeling that these platforms were punishing me for doing international business.

Why Wise Works (Especially for Expats and Business Owners)

Enter Wise. Originally called TransferWise, Wise was built by people who were sick of the traditional banking system. They wanted a way to send money internationally that was transparent, fast, and didn’t cost a small fortune. And they delivered.

Here’s why I love Wise:

• Transparent, low fees for money transfers: Wise shows you the exact fee before you send money, and it’s usually significantly lower than banks or PayPal. Calculate before you send anything.
• Mid-market exchange rate: They use the real exchange rate, not a marked-up version to pad their profits. This is one of the biggest ways they save you money.
• Speed: Most of my transfers arrive within minutes, hours or a day, depending on the country. No more waiting a week for your own money to show up.
• Multiple currencies: With a Wise account, you can convert between dozens of currencies. I use EUR, USD, and GBP regularly.
• Local account details: This one’s huge. Wise allows people to send to a local account and transfer to you in multiple currencies, so you can get paid like a local—even if you’re halfway around the world.

My Real-Life Uses: How I Use Wise For Money Transfers

As an expat living in Germany and China before that, Wise is part of my usual money flow.

I use Wise to send money back to my U.S. bank account to pay my American credit cards and life insurance. It’s fast, predictable, and I don’t lose sleep wondering what exchange rate surprise is waiting for me or if it’s going to arrive.

Clients from the U.S. and UK can pay me directly through Wise using a credit card, money transfer, which makes it easier for them and cheaper for me. Everyone wins.

I also keep small balances in USD, GBP, and EUR so that I can travel or pay for services in those currencies without constantly converting money or racking up fees on my bank card.

And yes, I still have a PayPal account for paying business expenses but I rarely use it to accept payments. If I do, I unfortunately have to charge an additional fee to cover the extra cost, because I refuse to eat the loss. It's not fair, and it's not necessary when there are better tools available.

Why Wise Beats PayPal For International Money Transfers (and It’s Not Even Close For Me!)

Let’s break it down simply:

The only thing PayPal has going for it is name recognition. But once clients understand how much better Wise is, they’re usually happy to switch. And if they aren’t? Well, then they pay the PayPal fee, not me.

The Different Types of Wise Accounts for International Money Transfers

Wise offers both personal and business accounts. Here’s what that means for you:

• Wise Personal Account: Perfect for travelers, expats, students abroad, and anyone who needs to send or receive money internationally for personal reasons. You can hold balances in multiple currencies, get local bank details, and spend globally with their debit card.
• Wise Business Account: Ideal if you’re a freelancer, coach, consultant, or run a small business. You can invoice clients in different currencies, link to platforms like Stripe, and pay contractors abroad without dealing with outrageous international wire fees.

It’s fast to set up, the interface is intuitive, and everything feels like it was designed by people who actually use the service themselves.

Why Every Expat Needs Wise

If you’re living abroad, here’s what you don’t need:

• Your home bank freezing your account because you logged in from a different country.
• Losing €100 every time you move money internationally.
• Paying insane commission fees on money transfers when you just want to get paid
• Waiting days for money transfers that should take hours.
• Getting slammed with conversion fees when you just want to pay your life insurance or send money to family.

Wise eliminates all of that. It’s made to support the global lifestyle that more and more of us are living—whether by choice or necessity.

You need a financial system that’s as flexible as you are. Wise is built for people who live across borders, get paid in multiple currencies, and don’t want their hard-earned money eaten up by archaic systems.

My Final Word: Stop Getting Ripped Off

I’ve been using Wise since the early days, and not once have I regretted making the switch. In fact, I’ve saved tons in fees over the last decade, and I’ve gained peace of mind knowing that I’m not getting nickel-and-dimed every time I move money.

So if you’re still using your traditional bank for international transfers, or if PayPal is quietly eating your lunch every time you invoice a client, it’s time to switch.

Wise is easy to set up, works beautifully, and will probably make you wonder why you didn’t switch sooner. Don’t get ripped off.

👉 Click here to open your Wise account and finally stop paying for nonsense.

Your money deserves better. So do you.

Affiliate Disclosure: This post contains my Wise referral link. If you sign up through it, I may receive a small commission at no extra cost to you. But let’s be clear: I only recommend this service because I use it myself every single week and I genuinely think it’s one of the best tools out there for anyone living a global life.

   ANDREA HUNT - Transformational Life Coach & EFT Tapping Practitioner based in Munich, Germany

As an Accredited Transformational Coach (Animas Centre UK) and Certified EFT Practitioner (AEFTP), I help you overcome low self-worth, imposter syndrome, and limiting beliefs using powerful EFT Tapping and coaching. Ready to transform your emotional health and boost your confidence?

If you’re curious about EFT Tapping and how it can enhance your emotional resilience while addressing issues like low self-worth, perfectionism, and negative self-talk, download my FREE EFT book!  ➡️ https://bit.ly/4e672x7

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