The fixed fees you pay for sending money from Canada to other countries depend on the currency of your recipient and only apply if a card is used. What’s Europe I and Europe II? That’s how PayPal groups regions. (3) Currency exchange fees (a percentage) C.1.1 International Fee + Recipient Country Market/Region of Recipient’s AccountĮurope I, Europe II, Northern Europe, and United States
(1) International Fee (based on where the recipients account is and payment method) Canada C.1 Fees for sending money out of Canada
Here also is the PayPal UK User Agreement with fine print on fees. For example, many people work with USD or EUR.įor more see official PayPal UK fees page. Savings Tip: If practical, ask the sender to convert the money for you.Īlternately you can simply hold a balance in the currency that is sent to you and pay for things from that balance in the same currency (this saves you the conversion fee twice). However, you might have to cover the currency conversion fee if the person sending you the money does not do it for you. However receiving other currencies attracts a currency conversion fee. To calculate the fee contained within the currency conversion rate compare what PayPal offers with Wise which shows the current mid-market rate.įor more information about how PayPal converts currency, please see the user agreement. Here is PayPal’s currency converter tool which gives an estimate. One of the main fees you will incur using PayPal, is the currency conversion fee which varies depending on the currency to which you are converting to. This fee is 5% of the transaction amount between £0.99 and a maximum of £2.99 GBP (which occurs at £60).
B.1.1 International Fee (Sending from UK) There are no fees to send and receive GBP in the UK or to and from the following regions:īut to send money to the rest of Europe and other countries, you’ll need to pay the following. (1) International Fee (based on amount for Sender) Some may be charged to the sender and others to the receiver. However if currency conversion is required then a fee of 3 to 4% is the “currency conversion spread”įor more see official PayPal USA fees page. However, if you “Request Money” from friends and family outside of the US, there will be fees which may be paid mostly by the sender for their country. You can request money to be sent to you through an email, SMS or email. A.2.1 Receiving Money from Friends and Family In the US, transfers funded by your PayPal balance are free, while transfers funded by credit or debit cards are 2.9% of the amount. PayPal’s exchange rate for personal payments includes a 3% to 4% “currency conversion spread”. Lower fees are applicable for transactions below $100, and anything above $100 will attract the maximum fee of $4.99.
Whether you use your PayPal balance, a linked bank account, or a card (credit, debit, or PayPal credit), this fee is 5% of the amount ( minimum fee: $0.99 USD maximum fee $4.99 USD). For more information, see our disclosures here. Also, this post may contain offers and affiliate links to save you money. Please refer to the official documentation (links provided below). Turns out it can be much more than a few percent but more importantly I want to point out some of the excellent alternatives.įirst let’s figure out what your fees are.Īs a Start: Are you sending money to Family/Friends ? (below)īuying/Selling Commercial Goods and Services? (further below)īuying or selling goods overseas is covered briefly in our PayPal Commercial Section (below) Generally though, sending money to family and “friends” is cheaper and the majority of this page is dedicated to understanding these fees and reducing them!ĭisclosure/Disclaimer: While we have done our best to clearly explain PayPals fees, they will change things and we are human and can make errors. I have been using PayPal for over a decade and to be honest I kind of ignored the international fees because every time I went to look into them I found it too damn hard to figure out!Īnd what’s a few percent here and there right?
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