Which is better for international money transfers: PayPal, Square Cash, Venmo, or another company?
The answer is none of them. Digital Wallets such as PayPal, Square Cash, Venmo (or Skrill, Apple Pay or Google Wallet that you don’t mention), are great when it comes to sending money between friends or paying online, as long as you transfer in the same currency. But for international money transfers, these digital wallets are either not an option, or a very costly one.Square Cash and Venmo don’t allow you to send money in other currencies, so if you really want to use a digital wallet, you’ll probably go with PayPal (Skrill would be another option for international transfers).But with PayPal, the cost of international transfers if you include the money you lose in the currency conversion can be as high as 10% of the amount transferred depending how you decide to transfer your money. If you still need to transfer money in another currency with PayPal, make sure to have a look at the infographic below to understand PayPal fees (it can be a bit confusing at first) and see how you can minimize the cost.Source : Should you use PayPal to send money abroad? Our full reviewFor international payments, you’re really better off looking for other online money transfer services that are specialized in international money transfers. You can compare which ones are the best for your needs using comparison websites such as Monito (I’m co-founder of the platform) :Compare money transfer services on Monito.comYou can also have a look at our full comparison of digital wallets on our blog : PayPal, Square Cash, Venmo, Skrill, Google Wallet, Apple Pay, which digital wallet is better for international money transfers? - Monito's blogOur in-depth answer to the question:Can I send money abroad with Venmo?Can I send money abroad with Square Cash?