By Gruv Editorial Team
Let’s talk about that feeling. You know the one.
You wrap up a big project, the client is thrilled, and you send off that beautiful $1,000 invoice. You did it. You’re already thinking about what you’ll do with the money. A few days later, the payment notification dings on your phone. You eagerly open your app, expecting to see that nice, round number… but it’s not there. Instead, you see $958. Or maybe $942. Your stomach does that little lurch. Where did the rest go?
That missing cash wasn't a mistake. It was eaten alive by a series of tiny cuts: a platform fee here, a brutal currency conversion markup there, a sneaky “transfer cost” to get it into your actual bank account. Sound familiar? We’ve all been there.
Choosing the right payment platform isn't just about getting paid—it's about keeping what you earn. The battle between Stripe, PayPal, and Wise isn't about who has the slickest interface; it's a fight for your bottom line. This guide will break down exactly which platform is right for your specific freelance business, so you can stop leaking profit and start maximizing every single invoice.
Here’s what you need to understand from the get-go:
Remember the first time you got paid for a real gig online? I bet I know how it happened. An email landed in your inbox with that magic subject line: "You've got money!"
That’s PayPal. It’s the default setting for so much of the internet.
Think of it like the corner store that's been there forever. It might not have the best prices, and it’s not exactly gourmet, but you go there because it’s easy, it’s familiar, and you know they’ll have what you need. That’s PayPal’s superpower. When you send a client a PayPal.Me link or an invoice, there’s zero friction. They don't have to ask, "What's this? Is it secure? How do I sign up?" They already have an account. They trust the name. They just click and pay.
For a new freelancer, that is gold. Getting paid quickly and easily builds momentum and confidence. You don’t want to add a technical hurdle for a client who’s already agreed to pay you.
But that convenience comes with a cost—a literal one. While the fees for domestic payments are pretty standard, they start to sting the moment you work with someone across a border. PayPal charges a cross-border fee just for the privilege of the transaction, and then they often take another slice when they convert the currency for you. It's a one-two punch that can leave you wondering where that extra 4-5% of your invoice went.
So, when does it make sense?
PayPal is the path of least resistance. And sometimes, that's exactly the path you need to take. Just walk it with your eyes open to the cost, especially as your business starts to go global.
Let’s talk about leveling up. Imagine a potential client lands on your beautiful portfolio website. They’re impressed. They read your services page, see the perfect package for them, and click “Book Now.” A clean, simple form appears—right there on the page—and they enter their card details to pay your deposit. They never leave your site. They never get shipped off to a third-party page that looks nothing like your brand.
That seamless, high-trust experience? That’s the power of Stripe.
If PayPal is the convenient, universal tool for getting started, Stripe is what you graduate to when you’re building a serious, branded business. It’s not just a way to get paid; it’s an integrated part of your business infrastructure. By plugging directly into your website, it transforms your online presence from a simple digital brochure into a fully functional, money-making machine. That's a huge shift. You control the entire client journey, from discovery to payment, which builds immense professional credibility.
Now, let's be real about the cost. For standard domestic transactions, Stripe’s fees are right in line with PayPal's. No big surprise there. But you need to keep a close eye on its international fees. When a client pays with an international card, Stripe often hits you with a "double-dip": an extra 1% fee for processing an international card plus another 1% fee if a currency conversion is required. That 2% on top of the standard processing fee can take a real bite out of your earnings from global clients.
Alright, let's talk about a scenario that’s probably all too real. You just landed a major client in Europe. Amazing. They want to pay you €5,000 for the project. You do the math in your head, feeling that rush. But then the dread sets in. If that payment goes through a traditional platform, you know what happens next. A terrible exchange rate here, a "cross-border" fee there... and suddenly you've lost over €250 before the money even touches your real bank account. It’s infuriating.
What if you could just give that client local German bank details and get the full €5,000, just like a local freelancer in Berlin would?
That’s exactly what Wise does.
Now, it’s crucial to understand this: Wise isn't trying to be another Stripe or PayPal. It’s not a payment processor you embed on your site for clients to enter their credit card. Think of it differently. Wise is your personal, multi-currency account for the world. It’s a tool designed for one primary mission: to save you a fortune on international money transfers.
Here’s the magic. Wise gives you local bank details in multiple major currencies—USD, EUR, GBP, AUD, and many more. It's like having a local bank account in London, Frankfurt, and New York, all managed from one simple dashboard. When that European client needs to pay your €5,000 invoice, you just give them your Wise euro account details (your unique IBAN). To their bank, it's a simple, free local transfer. No drama. No insane wire fees.
The money lands in your Wise euro balance. The full amount. From there, you can hold it, or you can convert it to your home currency. And this is the second part of the magic: Wise converts your money using the real mid-market exchange rate. That's the rate you see on Google. The real one. They don't skim off the top by giving you a worse rate. Their fee is just a tiny, transparent percentage that they show you upfront. No surprises.
Let’s boil it down.
Feeling a little dizzy trying to compare all the options? I get it. It’s a lot. Let’s cut through the noise and tackle the questions I hear from freelancers every single day.
So, which is the absolute cheapest for a one-off domestic (US) client?
Honestly, for a simple project with a client in your own country, you’re splitting hairs between Stripe and PayPal. It's so close it barely matters.
Stripe’s standard fee is 2.9% + $0.30 per transaction. PayPal’s is often 2.99% for standard online payments. On a $1,000 invoice, you're talking about a difference of less than a dollar. My advice? Don't lose sleep over it. Pick the one that feels easier for you and your client in that moment. For domestic work, convenience usually trumps the tiny cost difference.
Okay, but which one is best for my international clients?
This is the big one. This is the question that can save you a fortune.
For receiving the money, Wise is the undisputed champion. It's not even a competition.
Think of it this way: when a client in London pays your PayPal or Stripe invoice in pounds, those platforms convert the money to dollars for you. But they don't give you the real exchange rate; they give you their rate, which has a markup. It’s a hidden fee. Wise sidesteps that entirely. It gives you your own UK bank details, so your client pays you like a local. No conversion, no markup. The money lands in your Wise account in pounds, and you choose when to convert it at the real mid-market rate for a tiny, transparent fee.
The power move? Connect your Wise USD, EUR, or GBP bank details to Stripe as your payout account. You get Stripe's professional invoicing and your client pays by card, but the money lands in your Wise account, dodging those brutal currency conversion fees.
What about payment protection? I'm worried about getting ripped off.
A totally valid fear. We’ve all been there—you pour weeks into a project, and then a client files a bogus dispute. Here’s how they stack up:
Alright, enough theory. Let's get down to what actually matters: looking at your business and making a choice that puts more money in your pocket. Right now.
For too long, the conversation has been "Should I use Stripe or PayPal?" That's old news. The smartest freelancers I know, the ones who are quietly scaling their businesses, have moved on. They aren't thinking "or." They're thinking "and."
Your payment system isn't a single tool; it's a toolbox. You need the right tool for the right job. So, take a minute and look at your client list. Who pays you? And more importantly, where are they? The answer to that question changes everything. If you're working exclusively with clients in your own country, a single processor might be all you need. But if you have even one international client—or hope to land one—then integrating a multi-currency account like Wise is a non-negotiable power move.
Here’s how to build your stack based on who you serve:
Honestly, for a simple project with a client in your own country, you’re splitting hairs between Stripe and PayPal. It's so close it barely matters.
Stripe’s standard fee is 2.9% + $0.30 per transaction. PayPal’s is often 2.99% for standard online payments. On a $1,000 invoice, you're talking about a difference of less than a dollar. My advice? Don't lose sleep over it. Pick the one that feels easier for you and your client in that moment. For domestic work, convenience usually trumps the tiny cost difference.
This is the big one. This is the question that can save you a fortune.
For receiving the money, Wise is the undisputed champion. It's not even a competition.
Think of it this way: when a client in London pays your PayPal or Stripe invoice in pounds, those platforms convert the money to dollars for you. But they don't give you the real exchange rate; they give you their rate, which has a markup. It’s a hidden fee. Wise sidesteps that entirely. It gives you your own UK bank details, so your client pays you like a local. No conversion, no markup. The money lands in your Wise account in pounds, and you choose when to convert it at the real mid-market rate for a tiny, transparent fee.
The power move? Connect your Wise USD, EUR, or GBP bank details to Stripe as your payout account. You get Stripe's professional invoicing and your client pays by card, but the money lands in your Wise account, dodging those brutal currency conversion fees.
A totally valid fear. We’ve all been there—you pour weeks into a project, and then a client files a bogus dispute. Here’s how they stack up: