PayPal international money transfers review May 2019 | finder.com

PayPal international money transfer review

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A quick and convenient way to send money overseas.

finder.com’s rating: 4.0 / 5.0

★★★★★

How’d we get our score?

Fees & rates: 4.0 / 5.0
Speed: 4.0 / 5.0
Services: 4.0 / 5.0
User experience: 4.0 / 5.0

Sending money overseas with PayPal is quick and simple, but their unfavorable exchange rates can make them an expensive option for large transfers.

Product NamePayPal
Min. Transfer Amount$1
Max. Transfer Amount$10,000
Transfer Methods
Online,
Transfer Options
One off payments
Transfer Speed
Minimum transfer time
3 - 5 days
Customer Service
Phone, Email
Available CurrenciesAUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, MYR, NOK, NZD, PHP, PLN, RUB, SEK, SGD, THB, TRY, TWD, USD
Online Transfer Fee2.99%

Send money almost anywhere with flexible transfer options and an easy process

With low fees on small transfer amounts and fast transfer processing times, PayPal makes it possible to send over 20 currencies across more than 200 countries, allowing you to send money almost anywhere around the world.

Our experience transferring money with PayPal

Here’s what we found when we sent live transfers to Mexico and France through the digital wallet PayPal.
  • While PayPal offered accurate delivery estimates, it took three days for our recipient to transfer money from their PayPal account to a French bank.
  • PayPal offered exchange rates that were 2.7% above the mid-market rate on average, with rates updated multiple times a day.
  • PayPal’s easy-to-use website allowed us to sign up and initiate a transfer in under 4 minutes.

How much does it cost to transfer money with PayPal?

How much it costs depends on how much money you send, where you send it and how you pay for the transfer.

Base fees

Payment method: Country of recipient’s account: $0-$49.99 USD $50-$99.99 USD $100+ USD
PayPal balance or a bank account linked to your PayPal account. United States Fee is waived Fee is waived Fee is waived
Funded by a credit card, debit card or PayPal Credit. United States 2.9% of the transaction amount plus fixed fee (see table below) 2.9% of the transaction amount plus fixed fee (see table below) 2.9% of the transaction amount plus fixed fee (see table below)
PayPal balance or a bank account linked to your PayPal account. Canada and Europe $0.99 USD $2.99 USD $2.99 USD
PayPal balance or a bank account linked to your PayPal account. Any other country $0.99 USD $2.99 USD $4.99 USD
Funded by a credit card, debit card or PayPal Credit. Canada and Europe $0.99 USD + 2.9% of the transaction amount plus fixed fee (see table below) $2.99 USD + 2.9% of the transaction amount plus fixed fee (see table below) $2.99 USD + 2.9% of the transaction amount plus fixed fee (see table below)
Funded by a credit card, debit card or PayPal Credit. Any other country $0.99 USD + 2.9% of the transaction amount plus fixed fee (see table below) $2.99 USD + 2.9% of the transaction amount plus fixed fee (see table below) $4.99 USD + 2.9% of the transaction amount plus fixed fee (see table below)

Flat fees for sending in a different currency

Currency Fee
Australian dollar: 0.30 AUD
Brazilian real: 0.60 BRL
Canadian dollar: 0.30 CAD
Czech koruna: 10 CZK
Danish krone: 2.60 DKK
Euro: 0.35 EUR
Hong Kong dollar: 90 HUF
Hungarian forint: 2.35 HKD
Israeli shekel: 1.20 ILS
Japanese yen: 40 JPY
Malaysian ringgit: 2.00 MYR
Mexican peso: 4.00 MXN
Currency Fee
New Zealand dollar: 0.45 NZD
Norwegian krone: 2.80 NOK
Philippine peso: 15 PHP
Polish zloty: 1.35 PLN
Russian ruble: 10 RUB
Singapore dollar: 0.50 SGD
Swedish krona: 3.25 SEK
Swiss franc: 0.55 CHF
Taiwan new dollar: 10 TWD
Thai baht: 11 THB
UK pounds sterling: 0.20 GBP
US dollar: 0.30 USD

Exchange rates

PayPal’s exchange rates are calculated by a financial institution and updated multiple times a day to reflect fluctuating market conditions. PayPal’s bank adds 2.5% to a wholesale rate price to calculate the service’s retail foreign exchange rate. If you compare the rates offered by PayPal, you’ll see that they can be competitive against the rates offered by banks and other foreign exchange providers.

To view PayPal’s current exchange rates, log in to your account. On your profile summary page, click Details next to PayPal balance, then click Manage currencies. From this page you can enter the relevant information and click Calculate to see the resulting exchange rate before initiating your money transfer.

What types of transfers can you carry out with PayPal?

PayPal does not offer the flexibility of rate locks or forward contracts, but you can schedule recurring transfers using its Balance Manager. Keep in mind that doing so will incur a fee.

There’s no cash pickup option available for your recipient, with all transfers handled electronically.

Pros and cons of using PayPal

Pros
  • Easy. Sending money overseas with PayPal is fast, easy and intuitive.
  • Fast. PayPal international money transfers are faster than many other international money transfer options.
  • Secure. PayPal offers 24/7 transaction monitoring, next-level encryption and dispute resolution options. Its “deep learning” artificial intelligence technology makes it extremely resistant to fraud.
  • Customer service. There are several customer service options available if you need help with a transaction.
  • Good for small transfers. PayPal’s fees are a percentage of your transaction amount, making it a cost-effective solution when you need to transfer smaller amounts.
  • Worldwide network. PayPal is available in more than 200 countries around the world, allowing you access to a wealth of possible transfer destinations.
Cons
  • Not ideal for larger transfers. With fees that are based on a percentage of your transfer amount, PayPal might not be your best option when transferring large amounts.
  • Fees. PayPal’s fee structure can add a lot to the total cost of your transfer. Its fees are calculated based on the amount of money you are sending. If you send a large amount, expect to pay a lot in fees. Fees also vary based on where your money is going. Finally, your fee will be higher if you use a credit or debit card to fund the transaction, rather than your PayPal account or linked bank account.
  • Exchange rates. If you will be exchanging your currency to make your PayPal international money transfer, you might find that its exchange rates are not as favorable as its competitors. PayPal’s currency exchange rates start at 2.5%.

How does PayPal compare to other services?

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 1 - 2 days USD 0.00 0.884 EUR 4,420 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 1 1 - 2 days USD 0.00 0.891 EUR
4,456
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 0.00 0.879 EUR 4,396 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 1,000 1 day USD 0.00 0.882 EUR 4,411 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 0.888 EUR 4,438 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 5,000 1 day - - Venstar will support you through the entire process of your international transactions, from start to finish. Go to site Show details
USD 50 1 - 2 days USD 0.00 0.876 EUR 4,380 Simple, zero-margin exchange rates, plus earn loyalty points on sign up, referral and every transaction. Go to site Show details

Compare up to 4 providers


Case study: Peter’s experience

profile pic

Peter Carleton
Writer

I first signed up for PayPal about five years ago after hearing positive reviews from a few friends. I live in Canada, so I used PayPal primarily for online purchases on sites that didn’t accept Canadian dollars. PayPal automatically converts my money into other currencies, allowing me to make purchases from almost anywhere.

What began as a way to make online shopping easier became an essential tool in my writing career. Since most of my clients were located outside Canada, PayPal empowered me to accept payments no matter their location. And once I received the money, it only took a few days to convert and transfer to my Canadian bank account.

How do I send an international transfer with PayPal?

It’s quick and easy to send money overseas with PayPal. If you don’t already have a PayPal account, you’ll need to sign up for one before you can transfer money internationally. Accounts are free to open and you can apply online; you’ll just need to provide the following details:

  • Your name and date of birth
  • Your email address and phone number
  • Your residential address
  • The details of your linked bank account or credit card

Once you’ve signed up, you can use your PayPal account to purchase a range of goods and services online; you can also start transferring money overseas. From start to finish, the whole PayPal international money transfer process takes just a few minutes.

  1. Log in to your account and click on the Send Money tab.
  2. Enter your recipient’s phone number or email address, the amount you want to send and a description of the transfer.
  3. PayPal will give you a total cost for the transaction, including transfer fees and currency exchange rate, when applicable.
  4. Review this information and click Send Money if you are ready to transfer your funds.

You can use PayPal to transfer money internationally from:

  • Your PayPal account balance
  • Your linked bank account
  • Your linked credit or debit card

The funds will be available in your recipient’s PayPal account almost immediately. They can then keep the money in their PayPal account or transfer it to a linked bank account. Transferring it to a bank account can take several days.

You can also use Xoom, a PayPal service, to make an international money transfer without signing up for a PayPal account.

Bitcoin vs. PayPal

How do I withdraw funds from a PayPal account?

There are three different ways to withdraw money from your PayPal account:

  1. Receive a check. Log into your PayPal account and select Transfer to Your Bank under your balance. Then, click Request a Check By Mail Instead. If you’re a US customer, you should receive the check in one to two weeks. However, if you’re outside of the US, it could take up to six weeks for you to receive your check.
  2. Transfer to your bank account. Log into your PayPal account and choose how much money you’d like to transfer to your bank account. Then, select which bank account you’d like to transfer the funds to. The minimum amount you can transfer is $1, there are no fees involved and it usually takes one business day for the transaction to go through.
  3. Use an eligible Visa or MasterCard debit or prepaid card. If you’re looking to get your funds fast, then using an eligible card to transfer funds to your bank account is the way to go. This usually takes 30 minutes or less, but it does cost $0.25 per transfer. If you have a PayPal Debit MasterCard, you can withdraw up to $400 per day from any ATM by selecting Checking Account when you withdraw the money. You can also use your PayPal Debit MasterCard to make purchases using your PayPal account anywhere MasterCards are accepted.

Bottom line

If you’re looking for an easy solution to your international money transfer needs, compare PayPal’s features, benefits and fees with those of other money transfer providers to find the safest and most cost-effective transfer method available.
Looking for an alternative? Compare services like PayPal to get the best rates and fees.

Frequently asked questions about PayPal money transfers

Methodology

Our team analyzes money transfer providers offering services in the US — from big names to digital upstarts. We rank rates and fees, speed, services and user experience for:

  • TransferWise
  • XE
  • OFX
  • WorldRemit
  • Currencies Direct
  • Western Union
  • RIA Money Transfer
  • MoneyGram
  • Remitly
  • Payoneer
  • Remit2India
  • Xoom
  • PayPal

Learn the details of our methodology and scoring.

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US International Money Transfers Offers

Important Information*
Logo for XE Money Transfer
XE Money Transfer

Offering no maximum and no minimum limit transfers with $0 fees.

Logo for WorldRemit International Money Transfers
WorldRemit International Money Transfers

Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

Logo for TransferWise
TransferWise

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

Logo for CurrencyTransfer
CurrencyTransfer

Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.

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46 Responses

  1. Default Gravatar
    SujataApril 29, 2019

    I’m from India. Could I send some money to my friend who is in China and not blood related to me? Is it possible according to the rules?

    • Avatarfinder Customer Care
      MaiApril 30, 2019Staff

      Hi Sujata,

      Thank you for contacting Finder.

      With PayPal, you can send money to overseas even if you are not blood related. Sending money from India to China is possible.

      Hope this helps.

      Kind Regards,
      Mai

  2. Default Gravatar
    LoisApril 9, 2019

    Hello my name is Lois ,can I send money to my brother in Nigerian and how can he withdraw the money cash when I send it to him if possible .please I need a good guide line on this

    • Avatarfinder Customer Care
      johnbasanesApril 10, 2019Staff

      Hi Lois,

      Thank you for reaching out to Finder.

      Please click this link to be routed to our Finder page on sending money to Nigeria. This guide offers tips and guidance on how you could accomplish this task. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    KingFebruary 9, 2019

    It stated that Nigerian Paypal accounts cannot receive fund. What about refunds, from an online store for example and payment has been made via PayPal?

    • Avatarfinder Customer Care
      JoshuaFebruary 18, 2019Staff

      Hi King,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Generally speaking, you can’t receive money to your PayPal account if it is opened in Nigeria. However, when it comes to refunds from online merchants, I have read people saying that it is possible. They also mentioned that it takes about 2-3 days for the refund to get through. Moreover, the refund would go directly to your linked bank account and not in your PayPal account.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  4. Default Gravatar
    LuckyJanuary 3, 2019

    It is possible for me to receive money from US PayPal account to my Nigeria PayPal account..

    • Avatarfinder Customer Care
      EllieJanuary 3, 2019Staff

      Hi Lucky,

      Thanks for getting in touch with finder. At this time Nigerian PayPal accounts cannot receive funds. However, you can send money through PayPal.

      I hope this helps. Please do not hesitate to reach out to us again if you have additional questions.

      Have a wonderful day!

      Regards,
      Ellie

  5. Default Gravatar
    ErikaJanuary 1, 2019

    Is it possible to move money from my European bank account to my American one? Are there any fees I should be aware of?

    • Avatarfinder Customer Care
      JoshuaJanuary 2, 2019Staff

      Hi Erika,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, it is possible for you to move money from your European bank account to your American bank account. All you need to do is ask your bank about the exact steps on how to accomplish this.

      Regarding the fees, yes, there are fees you should know about. Typically, bank fees may range from $0 to $30. You would need to directly get in touch with your bank to know exactly how much fees you need to pay.

      Alternatively, you may also consider using international money transfer services.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  6. Default Gravatar
    JennyDecember 27, 2018

    I’m moving from U.S. to Taiwan. How do I transfer my U.S. PayPal balance to the Taiwan bank account directly? Can I transfer to the foreign currency account? Or, it would be easier if I open a Taiwan PayPal account? Thank you.

    • Avatarfinder Customer Care
      ValDecember 29, 2018Staff

      Hi Jenny,

      Thank you for contacting finder! You can use the same PayPal account even if you transfer to Taiwan and yes you can transfer to a foreign currency account. Though the exchange rates may not be that favorable, it is advisable that once you have transferred all your funds to your Taiwan bank account, you may update your PayPal details as well.

      Hope this helps

      Regards,
      Val

  7. Default Gravatar
    mcswainDecember 21, 2018

    hi, can my family in the Commonwealth of Dominica open a pay pal account is it available in Dominica

    • Avatarfinder Customer Care
      ValDecember 21, 2018Staff

      Hi Mcswain,

      Thank you for leaving a question.
      Yes, Paypal is available in more than 200 countries/regions and support 25 currencies.And Dominica is one of the countries they support.

      Hope this helps!

      Regards,
      Val

  8. Default Gravatar
    mrtoeic1November 30, 2018

    Can I ask my aunt in South Korea to open a South Korean paypal account so she can send money to my USA paypal accpunt?

    • Avatarfinder Customer Care
      AshDecember 6, 2018Staff

      Hi Mr. Toeic,

      Thank you for reaching out to us.

      Yes, your Aunt can open a Paypal Account in South Korea and use it to send money to your Paypal account. You will need to provide her your email address registered in Paypal for the transaction.

      I hope this helps.

      Please do not hesitate to reach out again to us if you have additional questions that you need help with.

      Cheers,
      Ash

  9. Default Gravatar
    DennisOctober 10, 2018

    I have been sending 1000$ to my wife in Czech Republic and it costs like 75 to 115 dollars from Western Union. Pay Pal customer service just told me that a 10 Crown fee and a maximum 4.99$ fee would be the max – Only – one time- dream come true fee for the same amount. Is this true by your experience?

    • Avatarfinder Customer Care
      JoshuaOctober 14, 2018Staff

      Hi Dennis,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Yes, this is true. when you send money outside the US, the flat fee is between $2.99 and $4.99. There are also other options that you might want to try. Check our guide on how to send money to the Czech Republic and know other ways to transfer money to your wife.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  10. Default Gravatar
    BryannaSeptember 3, 2018

    Hi, my name is Bryanna, I was wondering if a friend of mine was sending a paypal of 500 pounds which is 648 dollars in US where I am from. He is from Scotland. He sent the money Friday and today is Monday, I was wondering how long it’ll take to show in my paypal?

    • Avatarfinder Customer Care
      johnbasanesSeptember 6, 2018Staff

      Hi Bryanna,

      Thank you for leaving a question.

      Normally, Paypal transfer between personal accounts takes 2-3 business days for this to be processed. If you have not received it yet after this time frame, you may want to call Paypal customer service for further assistance. Hope this helps!

      Cheers,
      Reggie

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