Does Wise hold money like PayPal

Yes, Wise holds money like PayPal, since both let you keep balances in several currencies instead of converting each payment straight away.

• Multi-currency balances: Each platform lets you store digital balances in foreign currencies and decide later when to convert them.
• Currency range: Wise lets you hold more than 40 currencies, while PayPal works with a shorter list of main currencies for holding and paying.
• Local account details: For many major currencies, Wise issues real local bank details, such as a US routing number or a UK sort code, so you can receive domestic transfers.

The two services differ once you compare Wise vs PayPal international payments and how the stored money can be used.

• Conversion costs: Wise converts at the mid-market rate and shows its fee upfront, whereas PayPal adds a markup of roughly 3% to 4% on the exchange rate.
• Spending: Wise provides physical and digital debit cards tied to your balances, while PayPal mainly acts as an online wallet and checkout tool rather than a substitute for everyday banking.
• Holds on funds: PayPal may hold money for up to 21 days when a transaction is flagged for security or dispute reasons. Wise does not run buyer and seller dispute resolution, so it does not apply commerce-related holds.
• India rules: Users in India cannot keep a cash balance on either Wise or PayPal because of Reserve Bank of India rules, though both can still be used to send or receive cross-border payments.