PayPal vs Wise: Which Ensures Better Data Privacy?
Explore how PayPal (US) and Wise (GB) handle your sensitive information. See which fintech leader truly prioritizes your data security.
Should You Switch to Wise?
Lower transfer fees, real exchange rates, and better privacy protections.
Potential loss of buyer protection and advanced seller tools.
Switch to Wise for better privacy and lower fees, unless you need PayPal's features.
At a Glance
US data laws
GDPR protected
PayPal
freemium
Wise
freemium
Privacy & Compliance Comparison
Critical data sovereignty factors at a glance
| Criteria | PayPal | Wise |
|---|---|---|
Server Location | US, EU | EU |
GDPR Compliance | Partial (SCCs) | Full |
Open Source | ||
E2E Encryption | Enterprise only | Optional |
Data Portability | Partial | Full export |
CLOUD Act Notice
PayPal is a US company and must comply with CLOUD Act data requests, even for data stored in EU data centers. Wise is not subject to US jurisdiction.
PayPal
🇺🇸PayPal Holdings Inc.
Wise
🌍Wise PLC
US Data Storage
Data subject to US CLOUD Act and may be accessed by US authorities
EU Data Protection
Data protected under GDPR with EU-only data residency
Certifications & Compliance
No certifications listed
Reasons to Switch
- ✓Wise offers low transfer fees, averaging 0.5% to 1% per transaction.
- ✓Real exchange rate used by Wise, unlike PayPal's markup on rates.
- ✓Multi-currency account allows holding 50+ currencies in one place.
- ✓Wise debit card supports spending in multiple currencies without fees.
Things to Consider
- !Migrating accounts and funds may require time and effort.
- !PayPal's buyer protection is not available with Wise transfers.
- !Learning curve for users unfamiliar with Wise's interface.
Migration Overview
Quick Steps
Create Wise account and configure settings
Export and prepare data from PayPal
Import data, test integrations, and migrate users
Ready to make the switch?
Start using Wise today and take control of your data privacy.