![]() They are cheaper and faster than using banks. Wise (formerly known as TransferWise) and CurrencyFair are two of the biggest companies that offer P2P transfers and send your money this way. Instead of wiring money overseas through a bank, P2P companies that make these types of transfers match people buying currency in one country with people who are selling it in another. ![]() Using a bank is also the quickest way to transfer money internationally. What other options are there to transfer money internationally?īanks in Australia have higher fees and uncompetitive exchange rates but this doesn't mean you should never use them. It's worth doing some research and comparison to check you're getting a fair deal. Tip: Fees vary depending on where the payment is being sent from, the method of payment (bank account/PayPal balance, debit card or credit card) and the payment destination. The essential takeaways are that you and / or the person receiving the money can expect to pay anything between 0.5% and 7.5% in fees to transfer money internationally (before taking exchange rates into account).īecause PayPal tends to charge percentages, rather than fixed fees, the more money you transfer, the more you will end up paying in fees. With 23 major headings, over 20 tables and over 8,000 words, it's not for the faint-hearted. To say PayPal's Australian fee structure is complicated would be a big understatement. $10,000 payment/transfer with credit card or debit card = $5.99 + $260 + $0.30 or %C2%A30.20 + currency conversion.$10,000 payment/transfer with PayPal account or bank account = $5.99 + currency conversion.$1,000 payment/transfer with credit card or debit card = $5.99 + $26 + $0.30 or %C2%A30.20 + currency conversion.$1,000 payment/transfer with PayPal account or bank account = $5.99 + currency conversion.$100 payment/transfer with credit card or debit card = $5 + $2.60 + $0.30 or %C2%A30.20 + currency conversion.$100 payment/transfer with PayPal account or bank account = $5 + currency conversion.This funding fee has no cap so can get very expensive.Įxample: Sending money from Australia to the US, UK or Canada An funding fee of 2.6% of the funds transferred + fixed fee + currency conversion if you pay with credit or debit card.A transaction fee of 5% of funds transferred with a minimum of $0.99 and maximum of $5.99 for the transaction fee from a PayPal account or a bank account linked to PayPal.Here are the fees typically charged by PayPal for international transfers. Frequently Asked Questions How are PayPal fees calculated? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |