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PayPal supports easy, no-fee money transfers in the US to your recipient’s email address. Internationally, however, you face a complicated fee structure and weak exchange rates that can take a significant bite out of your recipient’s transfer.
Kelly Waggoner is editor-in-chief of Finder US. She's worked with publishers, magazines and nonprofits throughout New York City, including ghostwriting a how-to on copyediting for the Dummies series. Between projects, she toys with words, flips through style guides and fantasizes about the serial comma's world domination.
Must read: 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.
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 outside of Canada or Europe, you face layers of fees that include flat rates and percentages of your transaction amount.
Base fees in US dollars
Payment method
Destination country
$0–$49.99
$50–$99.99
$100+
PayPal balance or linked bank account
United States
$0
$0
$0
Credit card, debit card or PayPal Credit
United States
2.9% of transaction amount plus fixed fee by currency
2.9% of the transaction amount plus fixed fee by currency
2.9% of the transaction amount plus fixed fee by currency
PayPal balance or linked bank account
Canada and Europe
$0.99
$2.99
$2.99
PayPal balance or linked bank account
Any other country
$0.99
$2.99
$4.99
Credit card, debit card or PayPal Credit
Canada and Europe
$0.99 + 2.9% of transaction amount plus fixed fee by currency
$2.99 + 2.9% of transaction amount plus fixed fee by currency
$2.99 + 2.9% of transaction amount plus fixed fee by currency
Credit card, debit card or PayPal Credit
Any other country
$0.99 + 2.9% of transaction amount plus fixed fee by currency
$2.99 + 2.9% of transaction amount plus fixed fee by currency
$4.99 + 2.9% of transaction amount plus fixed fee by currency
Flat fees by received 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
2.35 HKD
Hungarian forint
90 HUF
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
How are PayPal’s exchange rates?
PayPal keeps its conversion rate margin close to the vest. Its rates are calculated by a third-party financial institution and updated multiple times a day to reflect the fluctuating market. PayPal’s bank then adds 2.5% to a wholesale rate price to calculate the service’s retail foreign exchange rate. It means that you could pay up to 4% or more above the mid-market rate — or the rate banks use when trading money among themselves.
To get an idea of the exchange rate that applies to your transaction:
Log in to your PayPal account.
Click Details next to your PayPal balance on your dashboard.
Click Manage currencies and enter your transaction details.
Click Calculate to review the exchange rate before initiating your money transfer.
What types of personal transfers does PayPal support?
Send money from your PayPal account balance, bank account or credit cards to domestic and international recipients:
Instant domestic transfers. Send money directly from your PayPal account balance or a linked funding source to recipients using only an email address or phone number. They can then transfer the money to their own bank accounts.
International bank deposits. Deposit money to bank accounts or mobile accounts worldwide through Xoom, a subsidiary of PayPal. Xoom also offers cash pickups and home delivery to select countries.
PayPal does not offer the flexibility of rate locks or forward contracts, but you can schedule recurring transfers using PayPal’s Balance Manager for yet another fee.
Benefits and drawbacks of PayPal
Pros
Fast direct transfers. Transfers from one PayPal account to another are easy to set up online or from an app.
Secure. PayPal offers 24/7 transaction monitoring, industry-standard encryption and dispute resolution options. “Deep learning” AI results in a resiliency against fraud.
Low fees for small transfers. PayPal’s fees are a percentage of your transaction amount, making it a cost-effective solution for transferring 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
Costly international transfers. You face a layer of fees that vary by method, amount and country. Many transfers to recipients outside the US come with fees based on your transfer amount, which means it won’t be your best option for transferring large amounts.
Higher fees for credit or debit funding. Expect yet more fees if your plan to fund your transaction with plastic, rather than your PayPal account or a linked bank account.
Weak exchange rates. PayPal adds a margin of up to 4% or more to the mid-market rate — which eats into the amount your recipient receives.
How does PayPal compare to other services?
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Case study: Peter's experience
Peter Carleton
Writer
I first signed up for PayPal about five years ago, after hearing positive reviews from 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 are located outside Canada, PayPal empowers me to accept payments, no matter their location. And once I receive the money, it takes only a few days to convert and transfer to my Canadian bank account.
How do I send money through PayPal?
If you don’t already have a free PayPal account, you’ll need to sign up for one before you can transfer money internationally. Prepare to submit information like:
Your name and date of birth
Your email address and phone number
Your residential address
Details of your linked bank account or credit card
Once you’ve signed up, you can also start transferring money domestically or overseas. From start to finish, the whole process takes just a few minutes.
Log in to your account and click Send Money.
Enter your recipient’s phone number or email address, the amount you want to send and a description of the transfer.
Review the total cost for your transaction, including transfer fees and the currency exchange rate on international transfers.
Click Send Money if you’re ready to transfer your funds.
Funds are 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, which can take several days.
How do I track my PayPal transfer?
Track the progress of your transfer by logging in to your account. Click Activity to see a list of all your recent transactions, selecting the one you’d like to track.
How do I withdraw funds from a PayPal account?
Withdraw money from your PayPal account in three ways:
Request a paper check. Select Transfer to Your Bank under your balance, and then click Request a Check By Mail Instead. Your check should arrive in one to two weeks in the US and in up to six weeks elsewhere.
Transfer to your bank account. Indicate how much money you’d like to transfer and then select your destination bank account. Transfers are free and takes about a business day to complete.
Visa or MasterCard debit or prepaid card. Link an eligible card to your account for transfers in 30 minutes or less at $0.25 per transfer. Use a PayPal Debit MasterCard to withdraw up to $400 a day from ATMs.
Bottom line
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. Looking for an alternative? Compare services like PayPal to get the best rates and fees.
Frequently asked questions about PayPal money transfers
Send money from your PayPal account balance or a linked credit card, debit card or bank account.
Verified PayPal account holders can send $1 to up to $10,000 in a single transaction, depending on the currency.
PayPal owns international money transfer specialist Xoom, which can be a cheaper, more flexible alternative for money transfers to international bank accounts worldwide.
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:
Hello,
I am Kester. I have a dollar denominated account with a bank in Nigeria which means it doesn’t accept Naira currency(the Nigerian currency). How can I use PayPal to transfer dollars directly into this account?
At this time you can’t send money using PayPal to Nigeria. Here is a handy link to check out a list of sending money options to Nigeria from the US. The page offers tips and guidance on how you could accomplish this task. Kindly review and compare your options on the table displaying the available providers. If you want to find out more information about the provider, click on the blue ‘Show details’ option to read our detailed product review. 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.
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
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!
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?
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.
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 $30. You would need to directly get in touch with your bank to know exactly how much fees you need to pay.
I’m moving from U.S. to Taiwan. How do I transfer my U.S. PayPal balance to the Taiwan bank account directly? Can I transfer to the foreign currency account? Or, it would be easier if I open a Taiwan PayPal account? Thank you.
Thank you for contacting finder! You can use the same PayPal account even if you transfer to Taiwan and yes you can transfer to a foreign currency account. Though the exchange rates may not be that favorable, it is advisable that once you have transferred all your funds to your Taiwan bank account, you may update your PayPal details as well.
Thank you for leaving a question.
Yes, Paypal is available in more than 200 countries/regions and support 25 currencies.And Dominica is one of the countries they support.
Yes, your Aunt can open a Paypal Account in South Korea and use it to send money to your Paypal account. You will need to provide her your email address registered in Paypal for the transaction.
I hope this helps.
Please do not hesitate to reach out again to us if you have additional questions that you need help with.
I have been sending 1000$ 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?
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.
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