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PayPal is a digital payment system that can be used by both individuals and businesses to send and receive payments through the internet without having to share personal data. Although PayPal has long been associated as being the primary payment system for eBay, PayPal has since separated itself and expanded to offer global services that include money transfers, international payments and more.
PayPal works similar to a bank account, in that it allows you to send, receive and store money digitally. PayPal integrates with many online merchants to make shopping online more seamless and private, and users can see a full history of transactions in their PayPal account history. Overall, PayPal can be used in a lot of the same places you’d shop with a credit or debit card.
PayPal international transfer fees depend on where you’re sending money to, how you’re sending it and how you plan to fund it. For international deliveries, you face layers of fees that include flat rates and percentages of your transaction amount. PayPal does not have any hidden fees, but its fee structure is complex to say the least. When using PayPal, pay close attention to fees and exchange rates to avoid feeling like hidden fees snuck up on you.
There are two separate costs you need to take into account: the fee PayPal will charge for sending the money, and the one for converting the currency (if there’s any currency exchange involved at all).
The first is referred to by PayPal as “cross-border personal transaction fee”, is always paid by the sender and depends on the country you’re sending money to as well as on the transaction amount.
Here’s how it works:
| Recipient’s country | Fee |
|---|---|
| Europe, US, Canada | €1.99 |
| Other countries | €3.99 |
As well as this fixed fee, you’ll be charged an additional 1.20% for your payment method.
When selling goods and services through PayPal, these are the fees you’ll have to pay based on which country the PayPal account of the person buying from you comes from.
| Sender’s country | International payments fee |
|---|---|
| Northern Europe* | 0.5% |
| Europe I ** | 0.5% |
| US/Canada | 2% |
| Europe II*** | 2% |
| Rest of the world | 2% |
* Northern Europe: Denmark, Faroe Islands, Finland (including Aland Islands), Greenland, Iceland, Norway, Sweden.
** Europe I: Austria, Belgium, Cyprus, Estonia, France (including French Guiana, Guadeloupe, Martinique, Reunion and Mayotte), Germany, Gibraltar, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, San Marino, Slovakia, Slovenia, Spain, United Kingdom (including Channel Islands and Isle of Man), Vatican City State.
*** Europe II: Albania, Andorra, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Latvia, Liechtenstein, Lithuania, Poland, Romania, Russia, Serbia, Switzerland, Turkey, Ukraine.
When we checked on 2 September 2020, PayPal’s exchange rate markups were 4% for all currencies listed, however this may be subject to change.
| Currency | PayPal’s markup |
|---|---|
| AUD | 4% |
| DKK | 4% |
| PLN | 4% |
| HKD | 4% |
| SEK | 4% |
| USD | 4% |
How to check PayPal’s exchange rates:
Most other services that send money overseas will be able to offer you a better exchange rate than PayPal. Check out the table below to see what your transfer could look like with another company.
One of the most popular uses for PayPal is to send and receive money online. Whether you’re sending this money to businesses or friends, the process is similar. In general you’ll have to create your account, add money to it and then choose who to send it money to. Here are the steps:
Creating a PayPal account can be done for free and with little verification needed. To begin, follow these steps:
Once your account is created you can start receiving money right away, but you’ll have to add a payment method and bank account if you want to withdraw funds.
There are a few different types of PayPal accounts for personal use, including PayPal Cash and PayPal Cash Plus in addition to the standard PayPal account. PayPal Cash and PayPal Cash Plus accounts allow you to manage a PayPal balance, but aren’t required to use PayPal.
To add money to a PayPal account from your computer:
Transfers into your PayPal balance typically take 3-5 business days and incur no PayPal fees. However, it is always worth double checking with your bank account beforehand to make sure your bank won’t charge any fees.
Money can be sent both domestically and internationally with PayPal. Different fees may apply depending on who you are transferring to, the purpose of the transfer and what country they live in. In general, to send a domestic PayPal transfer:
Making international payments can be done through PayPal, but if you are sending money to friends and family abroad it may be cheaper to use Xoom instead. Xoom is a part of PayPal and offers international money transfers with more competitive exchange rates than those typically offered by PayPal.
Money can be sent to your PayPal account through your connected email address or mobile number, so be sure you provide the person paying you with the correct information. Once they’ve paid you, PayPal will send you an email, a text message or both to let you know there is money in your account.
There are a few ways you can withdraw money from your PayPal account:
PayPal takes many measures to keep your money and transactions safe and secure, but how you use PayPal still factors into whether or not it is safe for you to use. PayPal helps keep you and your money safe by:
Reviews accurate as of 2 September 2020.
| Trustpilot score | 1.4 out of 5, based on 327 customer reviews |
PayPal is a massive global company that has millions of daily users. When investigating the negative reviews on Trustpilot we saw a trend of customers complaints focused on poor customer service and extremely long wait times on both phone and chat support. To avoid some of these issues, always be sure to read existing reviews on a buyer before making a purchase. Also, thoroughly read PayPal’s buyer protection fine print to fully understand what is and isn’t covered before relying on it to guarantee you a refund.
| Reviews accurate as of 2 September 2020 | |
|---|---|
| Google Play Store | 4.3 out of 5, based on 1,525,669 customer reviews |
| Apple App Store | 4.6 out of 5, based on 16,800 customer reviews |
PayPal is a strong solution for fee-free direct domestic transfers to other PayPal accounts. But international transfers come with a complicated fee structure you’re likely better off avoiding with a money transfer specialist offering lower fees and stronger rates — especially on large transfers.
EUR to GBP Exchange Rate
Live exchange rates Euro to Thai Baht. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to THB.
Live exchange rates Euro to Swedish Krona. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to SEK.
Live exchange rates Euro to Polish Zloty. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to PLN.
Live exchange rates Euro to Philippine Peso. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to PHP.
Live exchange rates Euro to Moroccan Dirham. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to MAD.
Live exchange rates Euro to Nigeria Naira. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to NGN.
Live exchange rates Euro to Japanese Yen. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to JPY.
Live exchange rates Euro to Swiss Franc. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to CHF.
Live exchange rates US dollar to Hong Kong Dollar. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to HKD.
