How PayPal Fees Are Calculated for Sending and Receiving Money?
PayPal is the most popular payment processor in the world. It has been used in thousands of merchants. Even, the LuckScout Club, where we belong, uses PayPal as the primary payment gateway.
Last month, I received my first ever payment from an online business to my PayPal account. It was US$ 124,31 with a fee of US$ 5,77. Then, I withdraw the money to my bank account. I need to make sure that the money can be transferred to my bank because you are not making money unless the money is in the bank. Since it was a test, I withdrew US$ 20 with a fee of US$1.
Also, I made the second membership fee for the LuckScout Club several days ago. But PayPal did not charge a fee for both transactions.
Anyone knows precisely how PayPal fees are calculated? Both for sending and receiving money, as well as withdrawing the money to a bank account.
Transferring the money you have in your PayPal account to your bank account is free. They don’t charge you for this.
Here below, they have clarified everything about their fees:
Thank you. I should study it carefully.
You can contact the PayPal contact centre for more clarification on the matter.
Victor — The page Vahid shared is sufficient, although it is specifically for the Paypal user in Canada.
Kenneth, Victor and Jackson — What is your experience with your paypal account? Does the rate is the same in your country?
Ahmad, there may be a Paypal calculator specifically for your country. I googled Paypal fees and received a number of sites that I could visit that calculate in AUD.
The transfer fees perhaps are different from each country. I last month a payed my monthly fees through PayPal balance,they didn’t charge me any transaction fees.
Edward — Thank you, Edward. It seems that the fees structure is different between countries. Could you share the site providing the calculator that you found?
Leno — Yes, me too. Paypal did not charge a fee for paying the membership fee. What about the fee for receiving your October’s payment?
PayPal charge me $7.07 for a total of $169
You can write a message to PayPal customers support to know the exact rate they charge for transactions.
I have used it only for sending and the charges were not different, but I tell about charge for receiving because I can’t receive money on my paypal account.
Leno & Victor — I think the conversion rate depends on the current exchange rate between the US$ with the currency of your country. But the deposit and withdrawal rate is different. The withdrawal rate is 0.1% lower.
Kenneth — The link shared by Vahid consists only the type of fees paypal charges to the user. The conversion rate is different from time to time, depended on the current exchange rate between the US$ and the currency that you want to convert into.
Thanks so much Mr Ahmad Khasan for more clarification. It will serve me from time to time.
I am a new PayPal user. Your info provides the knowledge for me to operate PayPal as a money sending and receiving application.
I think Paypal is expensive. They charge me $6 for the money I get from the LuckScout club.
I agree with you, Mr Steinar.
But, compared to other alternatives, the PayPal fees are much lower. Also, it is the easiest and safest platform for online transaction today.
If you are a new user your money will not be available on you balance the day you receive it. You will wait for a at least 21 days be able to use your money,i don’t know if it is the same for others countries, for me in Morocco i has to wait for 21 days each month for the first three months.
Have you been able to receive money through PayPal, Leno?
Always worth checking which is the best currency to receive money in as well. Although I am based in the UK I actually receive all of my money into my paypal account in euros so that way I dont have to pay exchange fees when Im in euro land 🙂
Yes, you are right.
I have always received the PayPal money in USD. I waited for the best exchange rate when I intend to withdraw it to my bank account. At least, the rate is higher than that of when I deposited the money.