8 Great PayPal Alternatives for Online Payments

When I first started writing online, PayPal was the only payment method most platforms used. I didn't have the varied options I have now, and prefer. After all, PayPal has definitely gotten greedy with exorbitant fees and it's still too restrictive, leaving numerous countries out. But, these PayPal alternatives let you send and receive payments and work just as well, and in many cases, better.

1. Wise

Wise has become one of my favorite PayPal alternatives. The fees are low, even when transferring between different currencies. As an example, I average around $50-$80 in fees from PayPal per payday. With Wise, I only pay $1.50.

It's currently available in over 160 countries and requires a valid email to sign up. I had to deposit $20 from my bank account to verify my bank details, but there wasn't any fee to do so. It doesn't accept most US-based credit cards, so if you're using PayPal for credit card transactions, this one might not work for you.

If you'd like to check it out, use the link above or consider using my referral link to get your first transfer fee-free.

2. Stripe

If you're a freelancer looking to receive funds or you're running a business, Stripe's a great option. The fee structure is similar to PayPal, but it's available in more countries. However, for receiving payment, the fees are a bit lower than PayPal. As you know, it's also what Vocal Media uses to pay writers.

Personally, I find it a little tedious to manage when you have multiple sites/companies paying in since each has to have their own dashboard. But, it's a dream when it comes to reporting and gathering details for tax time.

3. Venmo

Venmo is actually a subsidiary of PayPal, yet it's simpler to use to send and receive money between friends and family. The major downside is it's only available in the US. However, if you're looking for a quick and easy way to pay a friend back or split expenses, Venmo makes it happen in just a few taps.

I use it to pay my share of the rent and other shared bills for the house I share with two others. No fees. No worries.

4. Skrill

Skrill is one of the top PayPal alternatives since it works so similarly. To me, it's like Wise and PayPal had a baby. It's available in over 130 countries and it's fee-free to send/receive funds between users in the same country. However, there is a 3.99% fee for foreign currency exchanges.

You have to keep your account active (use it at least once per year) or you're charged $5 each month after the inactivity period begins. Another issue is it costs 5.5% to withdraw to a bank account unless you become a True Skriller, which involves verifying your identity and depositing funds from a bank account.

5. NETELLER

For those in European and Asian countries, NETELLER is an excellent PayPal alternative. It's not currently available in the US. The platform recommends using Skrill if you're in the US. The site has some of the best encryption and extremely low fees of just 1.45% per transaction.

However, there's a massive downside. If you want to transfer funds out of your NETELLER account to your bank account, you have to $10 per transaction. For larger transfers, this is still significantly cheaper than PayPal, but for small transfers, it might not be worth it.

6. Payoneer

If you're transferring between numerous countries and currencies, it's hard to beat Payoneer. It's available in over 190 countries and supports more than 70 currencies. Transfers between USD, GBP, and EUR currencies are free. And, transferring to a US bank account only has a 1% fee.

You must keep your account active, though, or it may cost you $29.95 a year.

7. Cash App

Cash App is only available in the US and the UK, but transactions between the two aren't supported. It's mainly used for shopping, but you can also send money to other users and even use it as your bank account.

All transactions are private and only you see them. You must verify your identity to use the app, making it more secure. If you're sending money to another user, there's up to a 1.75% fee if you need it sent immediately. If the transaction can wait 24-48 hours, it's fee-free.

8. CoinGate

CoinGate is different than the other PayPal alternatives on this list. It only deals with cryptocurrency. However, many businesses and freelancers are starting to prefer cryptocurrency over standard currencies.

If this sounds like you, the platform lets you buy, exchange, and sell over 70 cryptocurrencies. Plus, fees start as low as 1% per transaction. It's a nice way to accept and send payments between numerous cryptocurrencies without any hassle.

What's your favorite payment processor? Any others to add to this list? Share your thoughts in the comments and help us all find the best payment system for our needs.