Venmo, Skrill, PayPal, Apple Pay, Square Cash, Google Wallet, which one is better?

Digital wallets have not only changed the way we pay for things on the Internet, but also how we send money to our friends and family. Specialized companies such as PayPal, Square Cash, Venmo, and Skrill, or tech giants such as Google (with Google Wallet), Apple (with Apple Pay) and Facebook (through Messenger), have revolutionized peer-to-peer payments, from the way  we pay back a friend for a loan to how we split the bill at the end of a meal.

The jury is still out when it comes to deciding which service is the best for your day-to-day needs, as it depends on a lot of factors including fees, limits, availability, and user experience. When it comes to international money transfers however, the answer is easy: none of them!

We can first easily exclude most of the contenders that are simply not offering international money transfers: Square Cash, Venmo, Google Wallet, Apple Pay and Messenger. These don’t allow you to send money abroad. In addition, most of them are only available in the US and a few other countries.

Some digital wallets, namely PayPal and Skrill, do give you the option of sending money between different countries and currencies (they even have an impressive number of supported currencies), and a lot of people are using them to send money abroad. But the convenience of these services comes at a very high cost.  

Both PayPal and Skrill may seem like good options for transferring money to a friend in another country or paying international freelancers for example, but due to a lot of different fees – most of them hidden – these transfers will cost you much more than if you used companies specializing exclusively in international money transfers.

We calculated that PayPal fees for international money transfers, which includes the transfer fee and the margin taken on the exchange rate, are between 3% and 10%. Skrill fees on the other hand are between 7% and 9%. This means that sending $500 from the US to France might cost you as much as $50! TransferWise, the cheapest solution currently listed in our real-time comparison table for this same transfer would cost only $5, or ten times less.  

So the next time you’re thinking about making an international transfer with PayPal or any other digital wallet, you’d be much better off making a quick comparison of your options on Monito and picking the current cheapest option.

Find better solutions

Digital wallet comparison for international money transfers


Can you use Venmo for international transfers ? No
Countries where Venmo is available US only

Square Cash

Can you use Square Cash for international transfers ? No
Countries where Square Cash is available US only


Can you use PayPal for international transfers ? Yes
Countries where PayPal is available Almost everywhere
(although money can’t be received or withdrawn in every country)
Total cost of an international money transfer
Min 2.8% up to 10%


Can you use Skrillfor international transfers ? Yes
Countries where PayPal is available Almost everywhere
(200 countries supported)
Total cost of an international money transfer Between 6.8% and 9.3%