In a recent experiment shared on Reddit, an OkSheet spreadsheet systematically compared 10 different cross-border payment methods, including PayPal, credit cards, and third-party payment platforms. The results highlighted that Wise offers the lowest transfer fees, while certain bank credit cards even provide up to 5% cashback. Additionally, Joybuy Sheets’ “Combined Payment” feature allows users to merge multiple orders, unlocking dual discounts on shipping and transaction fees. Here’s the full payment guide to help you save big on international transactions!
Key Findings from the OkSheet Spreadsheet
The OkSheet spreadsheet analyzed the following payment methods:
- PayPal:
- Wise:
- Credit Cards:
- Third-Party Payment Platforms:
- Wise:
Why Wise Stands Out
Wise emerged as the most cost-effective option due to its transparent fee structure and real-time exchange rates. Unlike PayPal, which often hides fees in unfavorable exchange rates, Wise charges a flat fee that’s easy to calculate. This makes it a favorite among frequent international shoppers and freelancers.
Credit Card Cashback Bonuses
Certain bank credit cards offer up to 5% cashback on international purchases, making them a great choice for larger transactions. However, users should be cautious of foreign transaction fees that may offset these benefits.
Joybuy Sheets’ Combined Payment Feature
One of the standout discoveries from the spreadsheet was Joybuy Sheets’ innovative “Combined Payment” feature. By merging multiple orders into a single transaction, users can save on both shipping costs and payment processing fees. This feature is especially useful for frequent shoppers who want to maximize their savings.
Complete Payment Guide
To explore the full breakdown of fees, exchange rates, and cashback opportunities, click here