How to Switch from PayPal to Wise

Create and Verify Your Wise Account

Go to wise.com and sign up using your email address. Wise will ask whether you need a personal or business account, and you should choose the one that matches your use case. Complete identity verification by uploading a valid government-issued photo ID such as a passport or driver's license and taking a live selfie for facial recognition matching. Business accounts require additional documentation including your certificate of incorporation, proof of registered business address, and identification for all beneficial owners who hold twenty-five percent or more equity in the company.

Open Multi-Currency Balances

Once verified, navigate to your Wise account and open balances in the currencies you transact in most frequently. Wise supports over fifty currencies and provides local bank details for major ones including USD with an ACH routing number and account number, EUR with a Belgian IBAN, GBP with a UK sort code and account number, and AUD with a BSB and account number. These local details allow you to receive payments from clients and platforms as if you had a local bank account in each country, eliminating the need for expensive international wire transfers.

Withdraw Your PayPal Balance

Log in to PayPal and transfer your entire available balance to your traditional bank account. Navigate to your PayPal wallet, click on the balance, and select Transfer Money followed by Transfer to Your Bank. Choose between instant transfer which incurs a small fee or standard transfer which is free but takes one to three business days. If you have funds held in multiple currencies within PayPal, convert them all to your primary currency first and then initiate a single withdrawal. Verify the funds have arrived in your bank account before proceeding.

Update Payment Recipients and Clients

Compile a list of every person and business that sends you money through PayPal. Contact each one individually and provide your new Wise local bank details for receiving payments. For freelancers and contractors, update your payment information on platforms like Upwork, Fiverr, and Toptal. For businesses, update invoicing templates with your new Wise banking details. Send your clients clear instructions specifying which local bank details to use based on their currency, as paying in their local currency through Wise's local details will save both parties significant fees.

Replace PayPal as a Payment Method

Go through every online service, subscription, and recurring payment that uses PayPal as the payment method. Replace PayPal with your Wise debit card number or direct bank transfer details wherever possible. Major services like Netflix, Spotify, Amazon, and most SaaS platforms accept regular debit cards. For any service that exclusively requires PayPal, evaluate whether you truly need that service or whether an alternative exists. Keep a checklist and check off each service as you update it to ensure nothing is missed during the transition period.

Order and Activate Your Wise Card

Order a physical Wise debit card from the Cards section of your Wise account. The card costs a small one-time fee and arrives within two weeks depending on your location. While waiting, generate a virtual card instantly for immediate online purchases. The Wise card automatically spends from the correct currency balance when you make a purchase, converting at the mid-market exchange rate with a small transparent fee only when conversion is needed. Set up Apple Pay or Google Pay with your Wise card for contactless payments at physical stores.

Close Your PayPal Account

Before closing your PayPal account, ensure your balance is zero and there are no pending transactions, open disputes, or unresolved cases. Remove all linked bank accounts and credit cards from your PayPal wallet. Go to Settings, then Account Settings, and click Close Your Account. PayPal will check for any blockers and will not allow closure if there are pending obligations. Confirm the closure and save the confirmation email. Monitor your bank statements for the next two billing cycles to verify no unexpected PayPal charges appear after account closure.