![]() a 1% charge of the payment amount will be applied when you use your PayPal or Bank account. When receiving international payments within the U.S. When sending money, the sender is responsible for paying the fee. With the exception of Australia which has a 3.4% fixed fee, all other countries have a 3.9% fixed rate fee in place. while a 5.99% fixed fee applies to Brazill. For instance, Canada has a 2.9% fixed fee that is similar to that of the U.S. ![]() The image below explains the international fees charged for countries outside the U.S.įrom the table, you can see that the international standard rates vary from country to country. According to Monito's search engine, PayPal is one of the worst options for converting currency and sending money abroad because they apply very weak exchange rates to your transfers.PayPal international fees are charged regardless of whether you are sending or receiving money using the personal credit card linked to your bank account or PayPal balance.Ĭompared to the standard U.S.Use an international money transfer service instead of PayPal to send money abroad. Because PayPal charges a per-transaction fee and a percentage fee, fewer transactions mean fewer fees levied on you.ģ.If you're a merchant, consider having customers pay less frequently to reduce transaction fees. However, this exchange rate is always less favorable than the default rate offered by the customer's card issuer or bank (like MasterCard or Visa), which means customers end up paying more for the transaction if they choose to pay in their home currency.Ģ. If the transaction is processed with DCC through PayPal, the transaction amount is converted from the merchant's local currency to the customer's home currency using an exchange rate set by PayPal. Dynamic currency conversion (DCC) happens when merchants offer customers the option to pay in their home currency when making purchases abroad.Always pay in the local currency to avoid additional conversion fees. ![]() To avoid PayPal fees, there are several strategies to consider.ġ. These fees can be steep for businesses too, making PayPal a less favorable option compared to its competitors. However, the fees can add up quickly for debit or credit card payments, instant transfers, and any transactions involving foreign currency. In summary, PayPal offers free transactions for peer-to-peer payments using your PayPal balance and local bank transfers. In a Nutshell: 3 Tips for Avoiding PayPal's Fees ![]()
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