Transferring money directly from PayPal to Wise (formerly TransferWise) is no longer possible. PayPal does not support linking Wise accounts, nor does it allow direct transfers to Wise. Instead, PayPal only supports transfers to physical bank accounts, making it necessary to use a workaround to send money to Wise.
Alternative Methods to Transfer Money from PayPal to Wise
Although PayPal and Wise aren’t directly compatible, there are alternative methods you can use. Here’s how to transfer funds effectively:
1. Use a Linked Bank Account as an Intermediary
- Transfer funds from your PayPal account to your linked physical bank account.
- Once the funds are in your bank account, log in to your Wise account and transfer the money to Wise.
- Wise will then allow you to convert and send money internationally at its competitive exchange rates.
2. Use a PayPal-Supported Prepaid Debit Card
- Link a PayPal-supported prepaid debit card to your account (e.g., PayPal Cash Card).
- Withdraw funds from PayPal to the prepaid card.
- If Wise supports adding funds via debit card, you can then use this card to deposit money directly into Wise.
3. Third-Party Services
- Some third-party services specialize in bridging the gap between platforms like PayPal and Wise. Examples include:
- Revolut: Link both PayPal and Wise to your Revolut account. Transfer money from PayPal to Revolut, and then move it to Wise.
- Payoneer: Similar to Revolut, Payoneer allows linking PayPal and provides the option to transfer funds to Wise.
- Be cautious when using third-party services. Ensure they are trustworthy and secure before linking your accounts.
4. PayPal Friends and Family Method (If Trusted Party Involved)
- If you have a trusted friend or family member with both PayPal and Wise accounts, you can send them money via PayPal, and they can transfer it to Wise on your behalf.
- This method may involve additional communication but could be a convenient solution if the other methods are not feasible.
Key Points to Remember
- Direct transfers between PayPal and Wise are not supported.
- Always use secure, verified methods to handle your money transfers.
- Check for any fees or processing times associated with each step to avoid surprises.
While the process is not as straightforward as it once was, these alternative methods ensure you can still move your funds from PayPal to Wise in a secure and reliable way.
